Since we are in the period when companies report their financial figures, it is important to mention that these results can influence companies’ stock price as well as their turnover. The last one can be dragged by both bad and good news, especially when we are talking about “mainstream” stocks. On Wednesday, five stocks that have been traded the most actively on the markets are: Bank of America Corp (NYSE:BAC), Sprint Nextel Corporation (NYSE:S), Intel Corporation (NASDAQ:INTC), Yahoo! Inc. (NASDAQ:YHOO), Sirius XM Radio Inc (NASDAQ:SIRI).
Bank of America Corp (NYSE:BAC) is the most popular stock, gaining a turnover worth $174.7 million. The share price of Bank of America Corp (NYSE:BAC) declined by 5.29% to $11.63. The drop came after the bank has released its earnings earlier this morning. Even though Bank of America Corp (NYSE:BAC) quadrupled its quarterly profit since a year ago, loan-loss provisions continue to fall and the bank’s capitalization continues to grow, weakness in the mortgage-lending business caused an overall drop in revenue. “…as interest rates start to bottom out, the refinancing activity that has made up most of Bank of America Corp (NYSE:BAC)’s mortgage-related revenue will likely start drying up, and pressure on net interest margins will intensify,” Insider Monkey said earlier today.
Sprint Nextel Corporation (NYSE:S) continues to be one of the volume leaders. The stock advanced by 0.35% to $7.18 in deals worth $45.9 million. Recently, DISH Network Corp (NASDAQ:DISH) proposed to acquire Sprint Nextel Corporation (NYSE:S) for about $25.5 billion.
Intel Corporation (NASDAQ:INTC) has also made the list, edging down by 1.13% to $21.67 in turnover worth $35.6 million. Intel Corporation (NASDAQ:INTC) has posted its first quarter results which showed a 2.5% on the year decrease in revenues, which totalled $12.6 billion. The decrease in revenues was explained by a slow down in the global PC market, according to Seeking Alpha. “Amidst market softness, Intel performed well in the first quarter and I’m excited about what lies ahead for the company. We shipped our next generation PC microprocessors, introduced a new family of products for micro-servers and will ship our new tablet and smartphone microprocessors early this quarter. The transition to 14nm technology this year will significantly increase the value provided by Intel architecture and process technology for our customers and in the marketplace,” Seeking Alpha quoted Intel’s CEO Paul Otellini.
Yahoo! Inc. (NASDAQ:YHOO) is also one of the most liquid stocks on Wednesday, its turnover amounting to $30.5 million. The stock has picked down 0.08% to $23.77. According to Yahoo! News, the company is still feeling the results of a decline in traffic. “Yahoo! Inc. (NASDAQ:YHOO) also projected net revenue for the second quarter of $1.06 billion to $1.09 billion in a presentation posted on its website after its earnings release on Tuesday. That was below the average analyst expectation of $1.11 billion in second quarter net revenue, according to Thomson Reuters I/B/E/S,” Yahoo! News said.
Sirius XM Radio Inc (NASDAQ:SIRI) closes our top 5 most traded stocks with deals worth a combined $30.2 million. Sirius XM Radio Inc (NASDAQ:SIRI)’s stock slid by 1.48% to $3.0. Yesterday, Valuewalk, said about the new service from Sirius XM Radio Inc (NASDAQ:SIRI). MySXM platform will provide users with a better level of customization.