Weekly Wrap: Quepasa Makes a Buy, 10 Companies That Will Never See All Time Highs (SWKS, HEV, QPSA, MCP, NXST, AAPL, ETFC, BAC, GOOG)
The markets traded higher for the week, gaining over 1%. The RF Semiconductor Index had the best performance of the week after Skyworks announced solid third quarter earnings. Also performing well this week was the Fuel Cell Stocks Index after the Chinese government approved a joint venture.
This Week’s Top tickerspy Indexes:
RF Semiconductor Stocks (up 10.7%, see graph): The Index was led by shares of Skyworks Solutions (SWKS) after the company announced today that its third quarter earnings were 49 cents per share, which was 3 cents better than analyst estimates. would be acquiring it.
Fuel Cell Stocks (up 9.8%, see graph): Shares of Ener1 (HEV) led the Index higher for the week with an impressive gain of over 23%. The company announced it received approval from the Chinese Government for a joint venture with Wanxiang, an electric car manufacturer.
Social Networking Stocks (up 8.7% today, see graph): Leading the Index higher were shares of Quepasa (QPSA) after the company announced it will buy Insider Guides, a company that allows people to meet each other.
Broadcast TV Stocks (up 7.9%, see graph): Shares of Nexstar Broadcast Grp (NXST) led the Index higher after the company announced it has not made a decision to pursue any specific strategic transactions or other strategic alternatives, which could include a possible sale.
This Week’s Top Market Headlines
Ten Companies That Will Never Trade At Their All-Time Highs: Some of the best known publicly traded companies in the world have stocks that will never reach their all-time highs again.
BofA Needs to Build $50 Billion Cushion for Housing Losses: Bank of America (BAC) may have to build its capital cushion by $50 billion and renege again on Chief Executive Officer Brian T Moynihan’s pledge to raise the firm’s dividend as mortgage losses drain funds.
U.S. Default Twist, Reward Overshadowed By Risk in Mortgage: The world of Mortgage REITs offers massive yields for income investors. There is a big caveat here. It offers massive yields, until it doesn’t… then you don’t want to be around this sector.
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