Editor’s note: Related tickers: Rite Aid Corporation (NYSE:RAD), Sprint Nextel Corporation (NYSE:S), Bank of America Corp (NYSE:BAC), Intel Corporation (NASDAQ:INTC), Microsoft Corporation (NASDAQ:MSFT)
While we are in the period when big stocks are expected to release their financial figures for the first three months of 2013, it is important to notice that financial results are some of the most important metrics that influence the price of a stock, as well as its trading volume. On April 16th, the top five volume leaders are: Rite Aid Corporation (NYSE:RAD), Sprint Nextel Corporation (NYSE:S), Bank of America Corp (NYSE:BAC), Intel Corporation (NASDAQ:INTC), and Microsoft Corporation (NASDAQ:MSFT).
Rite Aid Corporation (NYSE:RAD) is the most traded stock on Tuesday, adding 1.35% to $2.26 in turnover worth $103.7 million. Rite Aid last week released its financial results, surprising everyone by posting an EPS of $0.13, while average analyst estimate expected a slight loss.
On Monday, Goldman Sachs analyst Matthew J. Fassler reaffirmed Rite Aid Corporation (NYSE:RAD)’s Neutral rating and increased the price target to $2.60 from $1.75, Benzinga reported. ““RAD printed a big 4Q12 beat, with a surge in gross margin driving big upside vs. our estimates and consensus. Upside from 2012’s blockbuster generic drug conversions has proved a boon to the retail pharmacy industry – more so than we had expected – but we believe the big yoy increases are now peaking. We expect strength to continue into RAD’s 1Q13, with gross margin increases receding sharply in the back half of the year as the firm cycles challenging compares,” Benzinga quoted Fessler.
Sprint Nextel Corporation (NYSE:S) is the second most popular stock on the markets with a turnover of $92.9 million. The stock picked up 1.13% to $7.14 a pop. Yesterday, DISH Network Corp. (NASDAQ:DISH) offered to merge with Sprint Nextel Corporation (NYSE:S), under a deal worth $25.5 billion, Business Wire reported. “DISH is offering Sprint shareholders a total consideration of $25.5 billion, consisting of $17.3 billion in cash and $8.2 billion in stock. Sprint shareholders would receive $7.00 per share, based upon DISH’s closing price on Friday, April 12, 2013. This consists of $4.76 per share in cash and 0.05953 DISH shares per Sprint share,” Business Wire said.
The third on our list is Bank of America Corp (NYSE:BAC). The stock of the company raised by 1.59% to $12.17 in deals worth about $87.6 million. On Wednesday, Bank of America Corp (NYSE:BAC) is scheduled to release its financial figures for the first quarter. The bank is expected to post a large increase in terms of profit “mid signs of relative strength in investment banking, brokerage commissions and mortgage banking,” International Business Times said.
At the same time, Intel Corporation (NASDAQ:INTC) is also trading very actively today. The share price of Intel Corporation (NASDAQ:INTC) edged up by 1.96% to $21.80 in deals worth $40.4 million. The company is expected to release its financial figures very shortly (check back here for updates), and analysts are predicting low results, since the PC market is falling, Valuewalk reported. According to the source, the earnings of Intel Corporation (NASDAQ:INTC) will drop by 20.8% in comparison with the performance from the last year.
Microsoft Corporation (NASDAQ:MSFT) is another volume leader on Tuesday, having a turnover worth $35.8 million. The stock has slightly grew by 0.87% to $28.94. We have discussed recently about the decline of the PC market, where we mentioned that Microsoft Corporation (NASDAQ:MSFT), even though its Windows 8 has failed to resonate with the consumer, has some other segments where it still can stimulate growth from. An example could serve as Microsoft Corporation (NASDAQ:MSFT)’s Office, and next Xbox, which could become the future of the smart TV space, in addition to being a game console.