In the service space today, stocks have been relatively mixed. With that said, I’ve found two of today’s biggest gainers so far and two of today’s biggest losers. Here’s what you need to know in service.
Winner: YY Stock Climbs As China Markets Rally
YY Inc (ADR) (NASDAQ: YY)
The video based Chinese social network known as YY is having a great day in the market today. The rally in the Chinese market came following a buyout offer of Qihoo 360. While YY isn’t part of Qihoo 360, the buyout offer for the company has led to a rally across several tech stocks in the Chinese market. With more than 300 million users, YY is growing fast and is likely to continue on its path. With that said, this may become a perfect investment opportunity moving forward. So, now may be the time to start looking for pull backs as they will open the door for a great entrance.
Loser: FedEx Corporation Stock Is Having A Tough Time Following Earnings
FedEx Corporation (NYSE: FDX)
FedEx Corporation is on the other side of the equation; having a difficult time in the market after the release of a negative earnings report. While experts expected to see EPS come in at $2.69, the actual figure came in $0.03 lower at $2.66. The company also missed top-line revenue expectations of $12.31 billion; generating only $12.1 billion in the quarter. As a result of the negative earnings report, FDX is continuing to fall. Currently (1:42), the stock is trading at $175.15 per share after a loss of 3.83% so far today. Given the most recent news, this is one to stay away from for now.
Winner: WidePoint Corporation Stock Continues Climbing On High Volume
WidePoint Corporation (NYSEMKT: WYY)
WidePoint Corporation has been enjoying gains all week caused by incredibly high volume. According to data provided by NASDAQ, throughout the past 90 days, the average daily volume on WYY has been 310,597. However, today so far, 1,803,084 shares have traded hands. As a result, the stock is up in a big way. Currently (1:46), WYY is trading at $1.84 per share after a gain of 6.98% so far today. Given the strong volume we’ve seen throughout the week, it looks like investor sentiment is great for the stock; which will likely lead to more bullish trends. Keep an eye out for dips in the value for great buying opportunities.
Loser: Cinedigm Corp Stock Declines Following Yesterday’s Gains
Cinedigm Corp (NASDAQ: CIDM)
Cinedigm Corp stock is having a tough day in the market; giving up most of yesterday’s gains from high volume. Currently (1:48), CIDM is trading at $0.87 per share after a loss of 5.12%. With uncertainties revolving around investor sentiment, and the company’s management, this is another one that is better to stay away from.