Stocks Buzz – Advanced Micro Devices, Inc. (NASDAQ:AMD) Teck Resources Ltd (USA) (NYSE:TECK)
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Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) gained 8.86% to $15.35 on Wednesday, after the company posted a surprisingly strong earnings report, and promised even better performance in future quarters.
AMD said it pulled in $1.22 billion in sales, beating Wall Street’s expectations of $1.16 billion. The company eked out an adjusted profit of 2 cents per share, beating a consensus estimate from Thomson Reuters that the company would only break even.
AMD has spent years redesigning its core products, which began selling this year. The company plans to sell server chips again — a vertical that it had formerly ceded to Santa Clara-based Intel Corp., which owns an estimated 99 percent of the market. At one point, AMD sold 1 out of every 5 server chips.
AMD’s new graphics chips are getting positive reviews, and new desktop and laptop chips are on the horizon.
The company said it’s revising its estimate on third quarter revenue to $1.5 billion, a roughly 15 percent rise over its performance during the same time period last year. Analysts had predictable revenue of $1.39 billion, according to Thomson Reuters.
The stock is currently floating in a range of $14.40 – 15.65. The stock is moving on high volume, traded at a volume of 115.21M shares, as compared to its average daily volume of 87.01M shares. The market capitalization for the company is reported at $14.45B.
Teck Resources Ltd (USA) (NYSE:TECK) inclined 0.16 points or 0.73% at the market. The stock opened at $20.82. It reached an intraday trading high of $20.90 and now trading at $20.74. The total volume traded for the day is 2.59M, as compared to its average daily volume of 4.94M shares. Trading volume, or volume, is the number of shares or contracts that point towards the overall activity of a security or market for a given period. Trading volume is a key technical indicator an investor uses to identify momentum in a stock and confirm a trend or trend reversal. Volume gives an investor an idea of the price action of a security and whether he should buy or sell the security.
Trading volume can also signal when an investor should take profits and sell a security because of low activity. If there is no relationship between the trading volume and the price of a security, this signals weakness in the current trend and a possible reversal.
The current EPS for the company has been recorded at $2.10 and the beta value recorded by the company stands at 1.22 points.