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Software industry

Stock Market Update: Gainers and Decliners

Strategic Insights

— 1 min read

The Indian stock market saw significant movements on Nov. 4, with several companies experiencing gains and losses. Starbucks Corp. reported improved fourth-quarter profit, leading to a nearly 3 percent increase in its stock price. Microsoft Corp.'s license agreement with Openwave Systems Inc. propelled the latter's stock up 27 percent. Groupon, Inc. made its debut on the Nasdaq, pricing its initial public offering at $20 per share, above its estimated range.

Key Takeaways:

  • Starbucks Corp. reported a nearly 3 percent increase in its stock price to $42.50, driven by improved fourth-quarter profit.
  • Openwave Systems Inc.'s stock jumped 27 percent to $2.00 following Microsoft Corp.'s agreement to license the company's patent portfolio.
  • Groupon, Inc. priced its initial public offering at $20 per share, above its estimated range of $16 to $18 per share.
  • American International Group, Inc. fell 3 percent to $23.80 due to its third-quarter loss, which widened from the previous year.
  • Warner Chilcott plc slid more than 1 percent to $18.11 as its third-quarter earnings declined from the prior year.
  • A123 Systems, Inc. dropped nearly 12 percent to $3.12 after lowering its revenue guidance range for the full year 2011.
  • Alcatel-Lucent fell 15 percent to $2.35 after lowering its fiscal 2011 margin forecast.
  • Central European Distribution Corp. slid 20 percent to $4.05 as it slipped to a loss in its third quarter.
  • LinkedIn Corp. dropped 10 percent to $78.50 as it slipped to a loss in its third quarter.

Statistics:

  • Starbucks Corp. stock price increased by nearly 3 percent to $42.50.
  • Openwave Systems Inc.'s stock jumped 27 percent to $2.00.
  • Groupon, Inc. priced its initial public offering at $20 per share.
  • American International Group, Inc. third-quarter loss widened from the previous year.
  • Warner Chilcott plc third-quarter earnings declined by 1 percent.
  • A123 Systems, Inc. revenue guidance range for the full year 2011 was lowered to $200-250 million.
  • Alcatel-Lucent fiscal 2011 margin forecast was revised down to 3-4 percent.
  • Central European Distribution Corp. net sales for 2011 were lowered to $400-420 million.
  • LinkedIn Corp.'s quarterly loss was $31.6 million.

Sources:

  • RTT News
  • HT Syndication with permission from RTT News.

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