Intel Corporation (INTC) is up over 3% today as Google Finance just incorporated the most recent quarter’s earnings into the full year earnings, giving the stock a 12x PE ratio instead of 19x. Investors can now clearly see the large markdown that the tech giant is trading at. When incorporating next quarter’s estimated earnings into the mix, Intel trades at a mere 11x PE. Intel also announced that it is forming a joint venture with GE, which may propel the stock as well.
Teva Pharmaceutical (TEVA) jumped over 3% today as The Markets Are Open initiated coverage on the stock with a Conviction Buy. Star analyst Andy “Raw” Kibbens believe the stock could go to $80. The stock has been hit recently due to FDA announcements which are fairly common in the drug industry, and currently trades at a significant discount to other drug companies despite the fact that Teva’s growth rate is many times bigger.
Ceragon Networks (CRNT) has pushed through the $8 level and is up over 7% on speculation that the company may be a takeover target given its powerful growth and strong balance sheet. The company currently has approximately 50% of its market cap in cash and receivables.
American Eagle Outfitters (AEO) is also up almost 3% in the apparel sector of the market as The Markets Are Open’s co-CEO Allan Edwards advocated moving clients’ money from Aeropostale (ARO) into the American retailer. Investors are following suit as ARO is under heavy selling pressure.
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