What are Wednesday’s likely movers and shakers? Here’s a breakdown of some of the potential candidates.
Stock one: Intel Corporation (INTC)
After trading closed on Tuesday, tech giant Intel Corporation reported its latest earnings report for the first fiscal quarter of 2014. The report beat expectations, with the company reporting earnings of $0.38 per share, rising sales and in-line revenue. A couple of of hours into the trading day sees the stock at 26.83, a 0.22% gain on the open, and a bullish fundamental bias suggests there could be more gains to be had as the day matures. Look for an initial upside target of intraday highs at 27.19.
Stock two: SodaStream International Ltd. (SODA)
SodaStream is up nearly 10% on Wednesday of the back of an Israeli news report stating a large, incumbent soft drinks company is set to buy a stake in the company. According to the report SodaStream is in talks to sell a stake of between 10% and 16% at $52 a share. The sale would value the company at more than $1B, a large gain on its current market capitalization of $847.80M.
Whether the deal comes to fruition remains to be seen, but those looking for a speculative play could do worse than SodaStream. Bear in mind however, that even if the deal does go ahead, it could be some time before it is finalized. Between now and then, speculation will undoubtedly offer up considerable volatility in the value of any SodaStream holding.
Stock three: St. Jude Medical Inc. (STJ)
St. Jude Medical is currently trading at a 3.04% discount to the day’s open at 61.30. This pullback looks to be an attractive entry in light of the company’s recent first quarter 2014 earnings statement, in which St. Jude Medical reported better than expected earnings, net profit and revenue that fell in line with expectations. Look for an initial upside target of yesterday’s close at 63.22, and beyond that, weekly highs at 63.76.
To contact the reporter of this story: Samuel Rae at Samuel@forexminute.com