The stock market is up Friday, with the Dow Jones Industrial Average up 0.73%, the Nasdaq up 0.78% and the S&P 500 up 0.73%. Today’s winners include a mobile phone maker rising on hope, a Brazilian power company, and a rare earths miner. Meanwhile, today’s big loser is an Internet video company that may be getting a “go-private” offer from a former CEO.
These are Friday’s market winners and loser.
Winners
Research in Motion Ltd. (NASDAQ: RIMM) is up 12% at $11.49 on very heavy volume of more than 35 million shares so far today, compared with a daily average of 24 million shares traded. Investors continue to believe that the company’s planned launch of its new BlackBerry 10 operating system and new handsets in late January will restore some of the firm’s former glory. The stock’s 52-week range is $6.22 to $18.77.
Cia Energetica de Minas Gerais (NYSE: CIG) is up more than 8% at $11.67 in a 52-week range of $10.56 to $20.97. Some 3 million shares have traded so far today, against a daily average of about 5 million shares traded. The Brazilian electricity generator reported solid third quarter earnings last week.
Molycorp Inc. (NYSE: MCP) is up about 10% at $7.96 in a 52-week range of $5.75 to $35.79. Volume of 4.5 million shares so far, against a daily average of about 8 million shares traded. Two insiders are reported to have purchased about 55,000 shares.
Loser
Kit digital Inc. (NASDAQ: KITD) is down nearly 60% at $0.84 after posting a new 52-week low of $0.78 earlier. Volume is enormous, with 7.7 million shares already changing hands against a daily average of about 400,000 shares traded. The company’s former CEO has said he is willing to lead a buyout of the firm, which revealed after markets closed on Wednesday that it has discovered accounting errors and other irregularities in financial statements going back three years.
Paul Ausick
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