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Brent Hecht
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  • Heavy Movers For 3/11/2013

    Volume is an important indicator when deciding which stocks to buy because heavier volume usually indicates institutional buying or selling. Here are today's stocks that moved on larger than average volume.

    Research In Motion(NASDAQ:BBRY)

    Research In Motion surged just over 14% on takeover rumors from Chinese computer maker Lenovo. However, some analysts later said that a bid was unlikely. RIM was also buoyed by the news that AT&T will take pre-orders for the new Blackberry 10 in anticipation of its March 22 launch.

    Zynga(NASDAQ:ZNGA)

    Zynga was being bought on heavy volume as it rose 10% today. Rumors surfaced that Yahoo!(NASDAQ:YHOO) was considering buying the online game maker as CEO Marissa Mayer looks to continue Yahoo!'s impressive gains over that past 6 months. Trading volume was up 344%

    Dick's Sporting Goods(NYSE:DKS)

    Dick's Sporting Goods fell 10.85% on an earnings report that missed on revenue's but fell in-line on earnings. The company state that earnings were 1.06 per share on revenue of $1.8 billion. Revenue was estimated to be $1.86 billion. Volume was up 944% on the news.

    Abaxis(NASDAQ:ABAX)

    Abaxis rose 1.78% on volume that was 143% above average. This happened on no news which makes this especially interesting. This is a positive sign that institutional buyers are stepping in and buying.

    Oaktree Capital Group(NYSE:OAK)

    Oak Tree Capital Group was bought on heavy volume today. Their shares rose 1.3% and volume was 106% heavier than normal. The news here was that Oaktree Captial was buying 40 office buildings from a REIT that needed the funds to repay its shareholders. Oak Tree Capital is one of the biggest distressed-debt purchaser's in the world and if their track record is any indication, they got a good deal here. In fact, Bloomberg states:

    "No one would choose to sell these assets with an 11-year lease to Wells Fargo if they didn't have to," Pellerito said in a telephone interview. The $240 million price equates to about $71 per square foot, below the $200 to $300 per square foot, excluding land, that the properties would cost to develop today, Pellerito said. "That's really cheap."

    Akamai Technologies(NASDAQ:AKAM)

    Akamai's price swung lower by 4.4% today. The trading volume was 269% above average volume. The decrease was caused by an announcement that they will change their financial reporting technique. They will no longer report services and support, and infrastructure expense as a general and administrative cost but rather an expense of revenues. This seems like small news to sell on although many institutional investors did not think so.

    Brazil Foods SA (NYSE:BRFS)

    Brazil Foods plummeted 5.06% on volume that was 241% above average on what appears to be no news. Investors should beware of the heavy selling volume here with no news. Often times, institutional investors may have inside access to information that the normal investor does not have. In addition, Brazil Foods has been on a tear along with the entire processed meats industry which may make this a good time to sell without looking at the fundamentals more closely.

    Other Stocks that Moved on Heavy Volume

    UP

    Jazz Pharmaceuticals(NASDAQ:JAZZ) - 1.28% with volume 114% above average

    Apogee Enterprises(NASDAQ:APOG) - 2.28% with volume 49% above average

    American Railcar Inds(NASDAQ:ARII) - 1.13% with volume 37% above average

    DOWN

    Tupperware Brands(NYSE:TUP) - 3.97% with volume 170% above average

    Michael Kors(NYSE:KORS) - 5.48% with volume 99% above average

    Valero Energy(NYSE:VLO) - 3.91% with volume 135% above average

    Oneok Partners LP(NYSE:OKS) 1.3% with volume 78% above average

    Ingredion Inc(NYSE:INGR) 3.02% with volume 96% above average

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

    Tags: long-ideas
    Mar 12 2:49 PM | Link | Comment!
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