Stocks generally declined Thursday after the European Central Bank did not announce it was taking any concrete action to solve Europe’s debt crisis, despite hopes to the contrary. The Dow Jones Industrial Average is down 0.20% and the S&P 500 is down 0.34%. A silver lining is the Nasdaq, which is up 0.20%. Thursday’s market winners include an earnings beater and a stock in correction. Meanwhile, the glitch on the New York Stock Exchange due to a glitch in a firm’s electronic trading system cost that firm dearly, while a mortgage insurer overleverage has regulators concerned. Finally, a retailer cutting its profit estimates for 2012 rounds out the biggest losers.
Here are Thursday’s market winners and losers.
Biggest Winners
Shares of Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) are up 27.74% to $22.88 on trading volume of 12.7 million shares. The company shares dropped hard on Wednesday after the company cut its full-year profit forecast, and shares are likely in correction. The 52-week high is $115.98.
Shares of First Solar, Inc. (NASDAQ: FSLR) are up 24.93% to $18.49 on trading volume of 11.2 million shares. The company reported Wednesday that it earned $1.27 a share for the second quarter, better than analyst estimates of 97 cents a share. The 52-week high is $113.92. Here is how it saved the solar sector!
Biggest Losers
Shares of MGIC Investment Corp. (NYSE: MTG) are down 53.47% to $1.14 on trading volume of 12.8 million shares. The mortgage insurer said it preliminary risk-to-capital as of June 30 is 30-to-1, which exceeds standards set by regulators. Before Thursday, the 52-week low was $1.51. This may be the next mortgage insurance implosion!
Shares of Knight Capital Group, Inc. (NYSE: KCG) are down 50.58% to $3.43 on trading volume of 64.5 million shares. The company said glitches in its electronic trading system, which caused erratic trading activity of the New York Stock Exchange on Wednesday, will cost the firm $440 million. Before Thursday, the 52-week low was $3.43.
Shares of Abercrombie & Fitch Co. (NYSE: ANF) are down 13.89% to $29.30 on trading volume of 7.3 million shares. The teen retailer cut its full year forecast to earnings of $2.50 to $2.75, down from $3.50 to $3.75. Before Thursday, the 52-week low was $29.51.
Samuel Weigley
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