Volume Leaders As Market Reacts to Iran Report: BAC, SIRI, MSFT, F, JPM, BDSI, WSM

Oil prices were sent plunging after Europe said they were going to delay any embargo of Iranian oil for at least six months. Seems the leaders of the EU woke up to the fact crude futures were marching well past the $100 a barrel mark. Any embargo would have sent shockwaves through the market and sent crude much higher. Looking at Europe’s already teetering economies, why would you want to subject them to an oil price shock? They realized that fact at the last moment and kicked the can down the road for six months.

Natural gas was also lower after storage numbers were released. With gas storage being nearly 500 billion cubic feet above the 5-year average, the commodity continued its pull-back. Also the above average temperatures this winter are lessening demand and the long-range forecast has temps remaining above normal for much of the country. So much for the sequel to Snowpocalypse.

Broader market moves had investors clinging to guarded optimism. The S&P 500 extended its winning streak to 4 as traders were hopeful that Europe could just muddle through their malaise. That may be a little too hopeful because they are not taking into account the politician effect. Their constant meetings and comments have caused the markets to gyrate for going on two years.

Here are 7 stocks to watch overnight and going into Friday:

Bank of America Corporation (NYSE:BAC) had a huge volume day today as the stock ended the day down just over 1%. BAC traded 361.2 million shares today, well above its daily average of 265.1 million shares. BAC pulled back today as it reacted to the poor jobs numbers that sent the stock market lower in early trading. The stock had been rallying for a few weeks after briefly going under $5 in late December. The company has a market cap of 68.82 billion.

Sirius XM Radio Inc. (NASDAQ:SIRI) closed up 3.43% today at $2.11. SIRI went up on heavy volume with 71.1 million shares traded, nearly 20 million more shares than it usually trades. SIRI is up more than $0.25 a share since Jan. 4 when it announced an increase in subscriptions. The company has a market cap of 7.91 billion.

Microsoft Corporation (NASDAQ:MSFT) went up 1.01% today at $28.00. MSFT traded 49.3 million shares traded today, slightly less than its daily average of 52.8 million shares. MSFT shares are up about $1.50 on the year, but has traded relatively flat the past couple of days. The company has a market cap of 235.54 billion.

Ford Motor Company (NYSE:F) closed up 0.58% higher today at $12.14 on 48.6 million shares traded. F trades 58.1 million shares a day on average. Ford closed higher today despite issuing a recall on 490,000 minivans and SUVs. The company has a market cap of 46.13 billion.

JP Morgan Chase & Co. (NYSE:JPM) finished the day up slightly at $36.85. JPM went up on average volume with 39.3 million shares, the stock trades 41.4 million shares a day on average. JPM shares started the day lower, but managed to erase those loses as it followed the overall market higher. The company has a market cap of 139.94 billion.

BioDelivery Sciences International (NASDAQ:BDSI) closed up 19.25% at $2.23 today. BDSI had huge volume with over 2 million shares traded, well above its daily average of 289 thousand shares. BDSI shares jumped today after entering into an agreement with Endo Pharmaceuticals for its BEMA Buprenorphine product. The company has a market cap of 65.92 million.

Williams-Sonoma, Inc. (NYSE:WSM) finished the day down 12.18% at $34.32. WSM shares fell hard as the company lowered its earnings forecast by $0.05 to $0.10 “due to the more promotional pricing environment and our focus on delivering value to our customers.” WSM traded 11.6 million shares today, 11 times its average volume. The company has a market cap of 3.53 billion.

written by

Kyle Pinder has has over five years trading and research experience in the large cap space. While still in grad school, Kyle trades daily and keep Active Investor up to date with the latest breaking news coming out of Wall Street and Washington.
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