Stocks Fall on Weak Payrolls Report and Hewlett-Packard Chairman Resigns
NEW YORK, April 8, 2013
NEW YORK, April 8, 2013 /PRNewswire/ --
Major indexes were down more than 1% on Friday after a report revealed that
88,000 jobs were added in March, significantly less than the forecast of
200,000 that was expected. Hewlett-Packard Co. Chairman Ray Lane has stepped
down and activist investor, fellow board member, Ralph Whitworth will be his
replacement until someone permanently steps in.
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NII Holdings Inc. (Nasdaq: NIHD) - Shares of NIHD saw a pop on Friday after
the Company confirmed rumors that it was selling its stake in Nextel Peru for
$400 million to Empresa Nacional de Telecomunicaciones S.A. The deal is
expected to close during the second half of the year. The stock closed at
$5.48, up 20.70% on Friday.
Many mid or large cap stocks once started off as Penny stocks!
F5 Networks, Inc. (Nasdaq: FFIV) - F5 Networks sank to a new 52-week low of
$71.95 on Friday after announcing preliminary second quarter results that were
significantly below analysts' expectations late Thursday. The Company blamed
lower guidance primarily on disappointing results from its North American
business. Shares of FFIV closed at $73.21 on Friday, down 19.03%.
Delta Air Lines Inc. (NYSE: DAL) - Shares of Delta Air Lines closed down 2.44%
on Friday. The company has launched a suit on Wednesday against the United
States Export-Import Bank to block loan guarantees being advanced to certain
foreign airline firms for purchasing wide-body aircraft manufactured by The
Boeing Company. According to the complaint, the bank violated the law by
approving the guarantees "without any consideration of plaintiffs' comments
and the adverse effects on U.S. industry and employment."
Penny stocks can deliver sky-rocketing returns and are a popular choice among
many investors in the market because of how much lower they trade than big cap
Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) - Rigel Pharmaceuticals dipped to a
new 52-week low of $4.48 on Friday. Though the Company has no products on the
market, it has an experimental rheumatoid arthritis medicine being developed
with AstraZeneca Plc. The medicine showed mixed results in a trial and failed
to meet one of the end goals of a late-stage clinical trial.
Radware Ltd. (Nasdaq: RDWR) - Radware shares sank as much as 25% on Friday but
also saw a big boost in trading volume after lowering its first-quarter
earnings and revenue forecasts due to weaker-than-expected sales.
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