Schaeffer's S&P 500 Index Hot Stocks Features Top Performing Stocks

Strategic Insights -

Among the top-performing stocks listed in the June 10 edition of Schaeffer's S&P 500 Index Hot Stocks are General Motors, Ford Motor, Navistar International, Advanced Micro Devices, and Adobe Systems. The report, a daily feature available on SchaeffersResearch.com, highlights the top-20 and bottom-20 performing stocks in the S&P 500 Index, providing insight into the market's trends and movements. The stocks featured are selected based on their significant price changes, with a focus on the underlying news and events driving these movements.

Key Takeaways:

  • General Motors (NYSE:GM) rallied nearly 8% due to news that local United Auto Workers representatives have given the national leadership the okay to discuss healthcare issues with GM, aiming to take some burden off the company.
  • Ford Motor (NYSE:F) gained slightly less than 4% as it rallied in conjunction with GM, its main rival.
  • Navistar International (NYSE:NAV) reported second-quarter earnings of 70 cents per share, one-cent shy of the Street's expectations, and elevated its 2005 earnings expectations to $4.80 to $5.10 per share.
  • Navistar's third-quarter earnings forecast of 75 to 85 cents per share helped the stock accelerate 3.60% higher and into the third spot on the SPX.
  • Advanced Micro Devices (NYSE:AMD) lost more than 5% despite the company's optimistic future outlook, as investors sold their shares.
  • Adobe Systems (NASDAQ:ADBE) is expected to report second-quarter earnings of 27 cents per share, topping last year's 22-cent-per-share earnings, but investors are worried about the pending acquisition of Macromedia.
  • VERITAS Software (VRTS) lost more than 3% due to a proxy advisory opposition to the proposed merger with Symantec (SYMC).

Statistics:

  • The S&P 500 Index (SPX) dropped 0.46% due to a retreat led by technology stocks, with only 30% of listed stocks in positive territory.
  • General Motors' nearly 8% jump marks the company's highest price since March 4.
  • Navistar International's second-quarter earnings of 70 cents per share were one-cent shy of the Street's expectations.
  • The proposed merger between VRTS and SYMC is facing opposition from a proxy advisory firm, with Glass, Lewis stating that shareholders should vote to reject the $13.5-billion merger.

Sources:

  • Schaeffer's S&P 500 Index Hot Stocks, June 10, 2005, SchaeffersResearch.com
  • Schaeffer's Investment Research, www.SchaeffersResearch.com
  • Forbes, Barron's, and Lehman Brothers (mentioned in the original text)