Aeropostale and Sprint Advance with Volume on News
Aeropostale, Inc. (NYSE:ARO) shares were up strong today as shares closed the day at $19.55, up 3.17%. Volume was heavy at 4.80M shares traded, marking just over 2X the average daily volume of 2.15M.
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It seems news of reported earnings per share of 44 cents, which down 53.7% from the prior-year earnings of 95 cents didn’t faze investors since ARO’s reported earnings surprised analysts who projected 38 cents per share. The stock also got a nice boost today as Caris & Company upgraded their outlook on the company from Average to Above Average, setting their price target at $21.
Aeropostale, Inc. operates as a mall-based specialty retailer of casual apparel and accessories. It designs, markets, and sells merchandise principally targeting 14 to 17 year-old young women and men.
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Shares of Sprint Nextel Corp. (NYSE:S) for the second day in a row on heavy volume. Today’s volume of just over 138M shares traded marks a hefty 3.5X the 39.45M average daily volume. Something is going on with this stock as shares closed at $2.78, up 6.9%. Considering Sprint shares are now currently -132% below its 52-week high of $6.45, this stock is cheap. Barron’s reported in their blog that a meeting by the company’s CFO this morning with a sell-side shop and some investors may be fueling the stock’s advance, and that a source on the Street says there’s some important positive news for Sprint that could result, but the source could not provide details.
Sprint Nextel Corporation is one of the biggest wireless and wireline communications providers in the US, providing products to individual consumers, businesses, government subscribers, and resellers .