Today, some stocks started to make huge steps in trading, quickly winning the top positions among volume leaders. Because there are thousands of companies on the markets it is hard to figure out the latest trends, and following the most traded stocks can give you some ideas about where the market is moving. On Wednesday, some of the top stocks in terms of volume are: Sirius XM Radio Inc (NASDAQ:SIRI), Bank of America Corp (NYSE:BAC), Merck & Co., Inc. (NYSE:MRK), Microsoft Corporation (NASDAQ:MSFT), and Pfizer Inc. (NYSE:PFE).
Sirius XM Radio Inc (NASDAQ:SIRI) advanced by 2.31% to $3.33 in deals worth about $35.1 million. Yesterday, Sirius XM Radio Inc (NASDAQ:SIRI) published its financial results, according to which, the company performed very well in the first quarter. The revenue of Sirius XM Radio Inc (NASDAQ:SIRI) increased by 12% to $897 million and the net income was up by 15% to $124 million, the company said in a statement. Also yesterday, Sirius XM Radio Inc (NASDAQ:SIRI) announced that Jim Meyer was appointed as company CEO, after being interim CEO since December, a separate statement said.
Bank of America Corp (NYSE:BAC) slid by 1.34% to $12.15 in deals worth $34.6 million. In a statement issued yesterday, Bank of America Corp (NYSE:BAC) said that it will pay a quarter cash dividend on its common stock of $0.01 per share and $1.75 on seven percent Cumulative Redeemable Preferred Stock, Series B.
Merck & Co., Inc. (NYSE:MRK) fell by 1.36% to $32.65 in turnover worth $24.3 million. Today Merck & Co., Inc. (NYSE:MRK) posted its financial results for the first quarter, which showed a decline in sales to $10.7 billion, compared to $11.7 billion a year ago, according to a press release. Merck’s net income fell to $992 in the first quarter of 2013, versus $1.3 billion a year ago. In addition, Merck & Co., Inc. (NYSE:MRK) said that it intends to repurchase up to $15 billion of its common stock for its treasury, a separate statement revealed.
Microsoft Corporation (NASDAQ:MSFT) declined by 1.36% to $32.65 in turnover worth $22.9 million. Lately Microsoft Corporation (NASDAQ:MSFT) had some bad times as its Windows 8 got some negative feedback and is trying to set on the right track in the mobile devices area.
In deals worth $19.9 million, the stock of Pfizer Inc. (NYSE:PFE) added 1.10% to $29.39. Bloomberg said that according to Pfizer’s CFO Frank D’Amelio, Pfizer Inc. (NYSE:PFE) will analyze during the next eight months a possibility to split into brand name and generic businesses. However, the official split would not take place until at least 2016, Bloomberg quoted CEO Ian Read.
BONUS We’ve also acquired a report via Longboard Asset Management, titled “Will Tesla Get Squeezed to $200?” The report compares Tesla Motors Inc (NASDAQ:TSLA) to Apple Inc. (NASDAQ:AAPL). It’s worth a read.
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