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Bank of America Corp (BAC), Microsoft Corporation (MSFT), J.C. Penney Company, Inc. (JCP), Petroleo Brasileiro Petrobras SA (ADR) (PBR) Among Stocks With High Turnover

Editor’s note: Related tickers: Bank of America Corp (NYSE:BAC), Microsoft Corporation (NASDAQ:MSFT), J.C. Penney Company, Inc. (NYSE:JCP), Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), Conceptus, Inc. (NASDAQ:CPTS)

Volume leaders do not represent just the stocks that have highest turnover, but actually the big turnover represents the fact that these stocks are very popular on the market among traders. On Monday among these stocks are Bank of America Corp (NYSE:BAC), Microsoft Corporation (NASDAQ:MSFT), J.C. Penney Company, Inc. (NYSE:JCP), Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), and Conceptus, Inc. (NASDAQ:CPTS).

Bank of America Corp (NYSE:BAC)’s turnover amounts to almost $25 million. The stock of Bank of America Corp (NYSE:BAC)  picked up 0.16% to $12.44. The company has been doing pretty well lately, increasing its over the year earnings in the first quarter of 2013, partly due to a slowdown in the provision for credit losses and decreased operating expensis. Also, Bank of America Corp (NYSE:BAC) managed to increase its deposits by 7% last year, Insider Monkey said earlier today.

Microsoft Corporation (NASDAQ:MSFT)

Microsoft Corporation (NASDAQ:MSFT) grew by 2.01% to $32.43 in deals worth about $19.3 million. We discussed today that Microsoft Corporation (NASDAQ:MSFT) received a “AAA” credit rating. Microsoft Corporation (NASDAQ:MSFT) issued some 550 million euros in 20-year notes last week. “The “Use of Proceeds” statement in the SEC filing told of “funding for working capital, capital expenditures, repurchases of our capital stock, acquisitions and repayment of our existing debt.” A search at FINRA turned up $1 billion of debt maturing this September. With a current dividend yield of 2.9%, the payout savings from share buybacks would be more than the debt service costs on 10-year and shorter-maturity paper,” Insider Monkey said in a piece of news today.

J.C. Penney Company, Inc. (NYSE:JCP) gained 1.94% to $17.33 in turnover of slightly above $15 million. A couple of days ago, J.C. Penney Company, Inc. (NYSE:JCP) said that it plans to improve its financial flexibility and position. “As part of that process, and consistent with its previously stated plans, the Company has drawn $850 million out of its $1.85 billion committed revolving credit facility. Proceeds will be used to fund working capital requirements and capital expenditures, including the replenishment of inventory levels in anticipation of the completion of its newly renovated home departments next month,” J.C. Penney Company, Inc. (NYSE:JCP) said in a statement.

In deals worth over $14.5 million, Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) appreciated by 6.66% to $19.23. On Friday, Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) posted its financial results for the first quarter of 2013. According to a statement on the company’s website, the net income of Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) amounted to about R$7.7 billion. Operating profit surged by 72% on the quarter to R$9.8 million.


Conceptus, Inc. (NASDAQ:CPTS) has also made the list of volume leaders with a turnover worth $14.1 million. The stock jumped by 19.49% to $30.95, which made it also one of the top price gainers. Conceptus, Inc. (NASDAQ:CPTS) today announced its financial results which showed a 17.5% increase on the year in Worldwide sales, which amounted to $34.1 million. At the same time the adjusted EBITDA of Conceptus, Inc. (NASDAQ:CPTS) totalled $7.7 million. Another thing that influenced the stock was the announcement made by Conceptus, Inc. (NASDAQ:CPTS) which stated that it will be acquired by the Bayer HealthCare LLC. “Within the next ten business days, Bayer will launch a public tender offer to acquire all shares of common stock of Conceptus, Inc. The transaction values Conceptus, Inc. at approx. US$1.1 billion (approx. €852 million) representing US$31.00 per share in cash,” Conceptus, Inc. (NASDAQ:CPTS) said in a statement.

Disclosure: none

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