Take a look at 12 of Friday's hot stocks on the move, and find out what's behind their action.12 Hot Stocks to Watch Today
FireEye Inc. (Nasdaq: FEYE) starts off our list of Friday's hot stocks to watch. FEYE shares climbed 4% to $33.79 thanks to an upgrade from Barclays. The firm upgraded the cybersecurity company from "Equal Weight" to "Overweight" with a $40 price target. Barclays said the upgrade was a valuation call, citing the recent pullback in FEYE shares.
Foot Locker Inc. (NYSE: FL) shares jumped 3% to $49.50 after the athletic apparel and footwear company sprinted past profit and revenue expectations. For Q1 2014, Foot Locker earned $1.11 per share on revenue of $164 million. That was up from earnings per share (EPS) of $0.91, or $138 million, in the same quarter a year ago. It also topped Wall Street EPS estimates of $1.06 on revenue of $1.79 billion. The company reiterated a "strong" outlook for the remainder of 2014.
GameStop Corp. (NYSE: GME) shares gained 5.69% to $39.53. The videogame retailer reported Thursday after the close that Q1 profit rose to $68 million, or $0.59 per share, up from $54.6 million, or $0.46 per share, a year ago. Quarterly sales rose 7% to $2 billion, up from $1.87 a year earlier. Driving growth are new consoles. Through the first six months of launch, industry PS4 and Xbox hardware unit sales were 107% higher than for previous generations. And, new console software unit sales rose 45%.
Hewlett-Packard Co. (NYSE: HPQ) rose 6.55% to a 52-week high of $34.09 after reporting fiscal Q2 2014 earnings in line with estimates. The tech company posted EPS of $0.88 on revenue of $27.3 billion. Analysts were looking for EPS of $0.88 on revenue of $27.3 billion. The company forecast Q3 EPS of $0.86 to $0.90, within Wall Street estimates of $0.89. HPQ also said it may slash headcount up to 16,000 in a major ramp-up of Chief Executive Officer Meg Whitman's quest of turning the personal computer maker around. Whitman said the company plans to launch a 3-D printer later this year. Among the no fewer than four price target hikes, J.P. Morgan lifted its outlook from $35 to $38.
L Brands Inc. (NYSE: LB) shares rose 1% to $57.60 after Stifel Nicolaus upgraded the parent company of Victoria's Secret and Bath & Body Works to "Buy" from "Hold." The upgrade followed the company's Q2 2014 earnings report showing a robust 10% increase in EPS to $0.53, compared with $0.48 in the same quarter a year ago. Net sales rose 5% to $2.391 billion.
Lentuo International Inc. (NYSE ADR: LAS) shares surged 18% to $2.14 on brisk volume. The Beijing, China automobile franchise dealership company said it expects 2014 demand will be boosted through rapid urbanization, economic stimulus measures, and falling car prices. Chairman Hetong Guo said in a letter to shareholders that Beijing remains its principal market, and car owners from the initial boom four to five years ago are beginning to look for replacement vehicles.
LiveDeal Inc. (Nasdaq: LIVE) shares surged some 100% to $4.80 on heavy volume. By 11 a.m., 3 million shares changed hands, compared to the stock's average daily volume of 665,327. By noon, volume has risen to 12.7 million shares. Earlier in the week, the customer acquisition and online listing services company reported a 22% increase in revenue for Q1 2014. Friday, the Las Vegas-based company said it has enough cash on hand ($10 million) to continue expansions through acquisitions. LIVE added that it has shifted its main focus squarely on competing in the online/mobile deal space and building a framework for success around its real-time and instant offer platform.
PTCT Therapeutics Inc. (Nasdaq: PTCT) shares surged more than 141% to $37 in pre-market trading after the company announced European regulators recommended a conditional authorization for Translarna, the company's treatment for Duchenne muscular dystrophy. The news was a surprise because the same European regulators rejected Translarna in 2013, stating the company's phase II study didn't provide convincing proof of efficacy. The South Plainfield, N.J.-based biopharmaceutical company recently resubmitted essentially the same data on Translarna, and this time, European regulators were sufficiently satisfied to grant conditional approval of the drug. After hitting a high of $28.75 in Friday's regular session, PTCT shares gave back some gains. But, the stock was still up some 50% to $24 shortly after noon.
Rite Aid Corp. (NYSE: RAD) was among the most actively trading shares in morning trading, rallying 4.2% to a 52-week high of $8.10. Shares of the drug store chain rose after Credit Suisse reiterated its "Outperform" rating on the company with an $8.50 price target, a 9.5% increase from the stock's opening price on Friday.
Sportsman Warehouse Holdings' Inc. (Nasdaq: SPWH) shares climbed 14% to $9.32. The outdoor sporting retailer went public last month in a 12,500,000-share offering priced at $9.50 each. Shares opened flat and have floundered since. SPWH shares slumped 16% Tuesday, falling in sympathy with Dicks Sporting Goods Inc. (NYSE: DKS), which posted dismal Q1 results. But, shares got a boost after Jim Cramer said on CNBC's "Mad Money" Thursday evening that investors who sold SPWH in reaction to DKS's lackluster quarter made a big mistake.
The St. Joe Company (NYSE: JOE) shares surged 8% to $23.75. Raymond James upgraded its rating on the Florida based real estate development company to "Outperform" from "Market Perform" with a $25 price target. The firm reckons JOE's new project, "Watersound," which will be the largest retirement community in the world when completed, will be key to the company's future success.
Tuniu Corp. (Nasdaq: TOUR) shares jumped 35% to a new high of $15.80. The popular Chinese online travel company went public on May 9 at $9 and received a muted welcome. Driving Friday's gains was Thursday's successful IPO of JD.com, China's largest online direct sales business. Both are said to be warm-ups for this summer's widely anticipated IPO of Alibaba.
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