As usual, we take a look through volume leaders in the daily markets and try to see why these stocks are so popular. Since there are thousands of companies, highlighting the leaders in terms of turnover makes it a bit easier to understand the trends of Mr. Market, and subsequently, your investments. Usually there is a background event which causes a stock to be traded more actively, this is the case with the following stocks: Microsoft Corporation (NASDAQ:MSFT), Power One Inc (NASDAQ:PWER), General Electric Company (NYSE:GE), Bank of America Corp (NYSE:BAC), and Dell Inc. (NASDAQ:DELL).
Microsoft Corporation (NASDAQ:MSFT) has advanced by 3.88% to $30.92 in deals worth $76.5 million. The stock began to appreciate after CNBC reported ValueAct purchased a $2 billion stake in the tech company.
Power One Inc (NASDAQ:PWER) had a solid start of the week, being not just the volume leader but also the second-highest gainer. The stock surged by 57.05% to $6.35 in deals worth almost $78 million on the back of the announcement made earlier today by Switzerland-based ABB. ABB said in a statement that its board together with the board of Power One Inc (NASDAQ:PWER) has come to an agreement according to which ABB will purchase Power One Inc (NASDAQ:PWER) for $6.35 per share in cash, or $1,028 million equity value.
“The transaction would position ABB as a leading global supplier of solar inverters – the “intelligence” behind a solar PV system – to a market forecasted by the International Energy Agency to grow by more than 10 percent per year until 2021. This rapid growth is being driven by rising energy demand, especially in emerging markets, rising electricity prices and declining costs,” ABB said in the press release.
General Electric Company (NYSE:GE) is the next on the list with a turnover worth $48.8 million. The stock fell by 2.07% to $21.30. General Electric Company (NYSE:GE) reported its first quarter results on Friday, after which the stock started to lose ground. Even though, the company’s overall operating earnings increased by 15%, as well as earnings from continuing operations grew by 17%, sales remained flat compared to the first quarter of the last year. Also, the actual cash generated from operating activities at General Electric Company (NYSE:GE) slipped by an annual rate of 90%.
With a turnover of $47.5 million, Bank of America Corp (NYSE:BAC) picked up 0.26% to $11.69. Bank of America Corp (NYSE:BAC) is currently going through some cost-cutting moves, one of them being a new branch concept, where the new branches will be similar to banking centers, where customers will be able to video-conference with remote advisors. In this way, any transactions that usually are available at the main bank location, will be conducted from these sites.
Dell Inc. (NASDAQ:DELL)is also a volume leader on Monday. Shares of Dell Inc. (NASDAQ:DELL) have traded down 0.78% to almost $41 million. Recently, The Blackstone Group L.P. (NYSE:BX) announced about dropping out of the bidding for Dell Inc. (NASDAQ:DELL), which means that Carl Icahn is the only potential alternative to a buyout led by Michael Dell and private equity firm Silver Lake Partners.