Companies whose shares are expected to trade actively in today’s session are Panasonic Corporation (NYSE:PC) (TYO:6752), Southcross Energy Partners LP (NYSE:SXE), Tesla Motors Inc (NASDAQ:TSLA), Quicksilver Resources Inc (NYSE:KWK), Gastar Exploration Limited (NYSEAMEX:GST) and Cisco Systems, Inc. (NASDAQ:CSCO).
Panasonic Corporation (NYSE:PC) (TYO:6752): The Japanese electronics company is under investigation by American regulatory authorities after the Wall Street Journal reported that a unit of Panasonic paid bribes in the international market to attract business. Additionally, the company announced to delist its American shares from NYSE on April 22. U.S. shares of the company fell 5.29 percent to $6.92.
Odey Asset Management's Special Situations Fund was down 3.2% in March, compared to its benchmark, the MSCI World USD Index, which was up 3.3%. Through the end of March, the fund is up 8.7%, beating the benchmark's return of 4.9%. Q1 2021 hedge fund letters, conferences and more Odey's Special Situations Fund deploys arbitrage and Read More
Southcross Energy Partners LP (NYSE:SXE): The oil and gas company’s fourth quarter losses widened to 17 cents a unit, despite an increase in revenues. Earnings fell short of Wall Street’s estimates. Wells Fargo analysts downgraded the stock from Outperform to Market Perform. The company also issued pessimistic guidance for the current fiscal year. Shares tanked 21.36 percent to $20.25 in after hours trading, but were up 1.14 percent to $20.48 in early morning activity.
Tesla Motors Inc (NASDAQ:TSLA): The electric car maker revised its first quarter guidance after the sales of its Model S cars exceeded the company’s own projections. Tesla expects full profitability in the first quarter. Shares rose 15.23 percent to $43.66 in the early session.
Quicksilver Resources Inc (NYSE:KWK): The energy company sold 25 percent of its interest in Barnett Shale assets to Tokyo Gas Co. Proceeds will be used to pay off a part of Quicksilver’s $2 billion debt, which was used to finance its shale gas production. Shares soared 33.33 percent to $3 in early trading.
Gastar Exploration Limited (NYSEAMEX:GST): The company announced its plan to settle all the lawsuits with Chesapeake Energy Corporation (NYSE:CHK) for $85 million and buyback all the shares of Chesapeake in Gastar. It also announced it would acquire some assets of Chesapeake in Oklahoma. Shares surged 10.23 percent to $1.94 in the early session.
Cisco Systems, Inc. (NASDAQ:CSCO): The network equipment giant has increased its quarterly dividend by 21.4 percent to 17 cents. The company said it would return more cash to shareholders. Shares were up 0.94 percent to $21.10 in the early session.