Our first volume mover is Nexen (NYSE:NXY) which is trading at unusually high volume of over 55 million shares today. It is currently at 3.8 times its average daily volume and trading up 55 cents (+2%) at $27.42 as of 9:31 a.m. ET. Nexen has a market cap of $14.26 billion and is part of the basic materials sector and energy industry. Shares are down 0.1% year to date as of the close of trading on Monday.
Nexen Inc. operates as an independent energy company worldwide. The company’s Conventional Oil and Gas segment explores for, develops, and produces crude oil and natural gas from conventional sources. This segment operates in the United Kingdom, Canada and the United States, and offshore West Africa, Colombia, and Yemen. Nexens Oil Sands segment develops and produces synthetic crude oil from the Athabasca oil sands in northern Alberta. The companys Shale Gas segment explores for and produces unconventional gas from shale formations in northeastern British Columbia. Nexen Inc. was founded in 1971 and is headquartered in Calgary, Canada.
The company has a P/E ratio of 37.4, above the S&P 500 P/E ratio of 17.7.
Up 8% in value and trading over 5 times its daily average is Michael Kors (KORS). The company turned heads after it reported a blowout holiday quarter that sent the fashion house’s stock soaring more than 10% to a new high in midday trading.
The seller of luxury clothing and accessories said earnings for the fiscal third-quarter ending December surged 129% to 64 cents a share, sailing past views for 41 cents a share. Revenue leapt 70% to $636.8 million, well above the Street’s forecast for $540.3 million.
Kors has consistently topped analysts’ quarterly sales and earnings forecasts since its market debut on Dec. 15, 2011.
Same-store sales in North America shot up 41% vs. a year earlier amid strong demand in the holiday season. In Europe, comps shot up 58% vs. the prior year, reflecting growing acceptance of the brand and continued expansion at retail and wholesale.
Making the world sing in perfect harmony is Coca-Cola (KO) who is trading well above their daily average. The world’s largest soft-drink maker, said fourth-quarter profit rose 13 percent as sales of non-carbonated drinks in North America such as Powerade helped counter lower demand in Europe.
Net income climbed to $1.87 billion, or 41 cents a share, Atlanta-based Coca-Cola said today in a statement. Excluding restructuring costs and other items, profit was 45 cents a share, compared with the 44-cent average of 13 analysts’ estimates compiled by Bloomberg.
Disclaimer: We have no position in any stock mentioned here.