The markets this morning are off to a sluggish start. The major indexes have been fairly flat across the board. The Dow is currently down half a point while the Nasdaq is down 2.6 points. The S&P 500 is up 1.5 points and oils has risen $1.86 per barrel to $99.56. While the markets remain mixed this morning there was good news from the housing market. New home sales hit a 4-month high in April. This was the second straight month of gains and increased prices. Here are three stocks fighting against the sluggish market to post gains this morning.
Perfect World Co. Ltd, (Nasdaq:PWRD) share have risen this morning $2.31 to $26.26 per share. The 10% increase since its previous close has led volume to more than double as $1.2 million shares have exchanged hands in trading this morning. Perferct World’s profit declined 16% overall due to higher cost in the first quarter. The company beat analyst expectations posting a net income of $263.7 million or $.76 per share. Analyst were predicting $99.4 million or $.54 per share. Perfect world management said that lack of holiday similar to the Chinese New year will affect results for the upcoming second quarter.
DSW Inc. (NYSE:DSW) shares shave soared this morning on their 1Q results. Shares have gained $6.73 to $49.92 per share with an intraday high of $50.76. The daily high of $50.76 also set a new 52 week high for DSW. Volume has also increased as the 15% rise in shares has led nearly 1.9 million shares to be traded heading into the midday trading hours. Results for the 1Q ending in April yeilded a net income of $38.4 or $.85 per share. analyst expected earnings $.75 per share. DSW adjusted its forecast for 2011 profits to $2.65-$2.80 per share up from its previous $2.60-$2.75 outlook.
Sify Technologies Limited (Nasdaq:SIFY) shares have jumped skyward this morning as they have experienced a 36% increase. Shares have risen $1.61 to $6.04 per share with nearly 8 million shares traded to this point. The sharp increase in Sify comes on the news that the India based company signed an agreement with Deutsche Telekom to provide top of the Line IP and VPN services to India and Europe. This partnership will provide much higher levels of service and a wider range of products to its customer base.