The stocktwits website has become a key source for trader sentiment, whether bullish or bearish, for stocks, futures, ETFs and other securities. We will now take a quick look at three stocks that have been heavily ‘twitted’ on the Stocktwits site this Friday. The stocks we will briefly study are: Palo Alto Networks Inc (NYSE:PANW), National Bank of Greece (ADR) (NYSE:NBG), and OmniVision Technologies, Inc. (NASDAQ:OVTI)
Three heavily ‘twitted’ stocks
Internet security company Palo Alto Networks Inc (NYSE:PANW) is attracting a lot of chatter from traders, mainly due to the poor earnings report announced after hours yesterday. The report disclosed that during the first quarter 2013 the company had a loss of $7.3 million, or 10 cents a share, compared with a profit of $796,000, or break-even a share for the corresponding quarter of the prior year. Analysts were disappointed with both the level of revenue and the rise in operating costs. The stock is currently down 12.75% to trade at $47.46.
The National Bank of Greece (ADR) (NYSE:NBG) is also attracting a lot of twittering. Traders are commenting on the remarkable price action of the stock, which is up over 20% from the close yesterday. The price action is a response today’s announced an offer to buy back up to 22.5 million of the American Depository Shares for $12.50 each. The bank is the largest lender within the economically troubled EU country, and if successful, the buyback will boost the bank’s Core Tier 1 capital by 175 million euros ($228 million).
Traders are also very interested in the image sensor maker OmniVision Technologies, Inc. (NASDAQ:OVTI). As of this writing, the stock is up over 18% from yesterday’s close to trade at $18.33. The bullish price action is due to an earnings beat yesterday, with the company reporting a rise in net income rose to $8.9 million, or 17 cents per share, from $2.6 million, or 5 cents per share, from the corresponding quarter of the prior year. The company reported that the main factor in these impressive results was increased demand for its camera chips from Chinese smartphone manufacturers.