News that Moves for AIG and OmniVision
Shares of American International Group, Inc. (NYSE:AIG) and OmniVision Technologies Inc. (NASDAQ:OVTI) moved today on some unusually heavy volume each. Read on for more information.
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American International Group, Inc. (NYSE:AIG) blasted off at the open, gapping up to $29.82, up some 6.5% from the previous day’s close on news of that the company’s operating earnings for Q4 were 82 cents per share. That came in well above the consensus estimate of 61 cents. However, as investors digested the earnings news, the stock quickly returned to earth throughout the trading day to close the day at $28.42, up only 1.55%. Total volume on the day was 18.29M, which nearly 4x the average daily volume of 4.9M.
American International Group, Inc. is an international insurance organization. The company operates property and casualty insurance networks worldwide and conducts activities in the U.S. life insurance and retirement services industry.
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OmniVision Technologies Inc. (NASDAQ:OVTI) shares likewise had a monster day as over 9.3M shares traded hands today. That is just under 4x the average daily volume of 2.4M. OVTI shares closed the day at $17.13, up a strong 6.53%. It seems the move was propelled by a bullish forecast for its current quarter earnings even though the previous fiscal third-quarter earnings plummeted on lower revenue and higher compensation costs. Also, the camera sensor company is set get back some of market share for smartphones.
OmniVision Technologies, Inc. engages in designing, developing, and marketing semiconductor image-sensor devices worldwide. The company primarily offers CameraChip image sensors.