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Marcus-Goetz Laun Vice President at Chardan Capital Markets Greater New York City Area Investment Banking Previous Knight Equity Markets, HYPE North America Inc., Brean Murray & Co. Inc Education MBA, Finance at Columbia Business School
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  • Pharmaceuticals And Transportation Perform Well 0 comments
    Jan 2, 2013 7:39 PM

    In healthcare news, Abbott Laboratories is having a very treacherous day of trading on Wednesday. The company is currently trading down 50.19% at $32.16. This drastic downturn comes after the company announced that it would be spinning off its biopharmaceutical and drug development divisions into a separate company called AbbVie. The company is hoping that its hepatitis C drugs which are scheduled to come to market in the next few years will generate up to $2 billion in revenues going forward. Abbott Laboratories is an Illinois-based pharmaceutical firm that specializes in manufacturing and selling health products. The company a net profit margin of 19.88% in the third quarter of 2012.

    (click to enlarge)In transportation news, Zipcar is having a robust day of trading on very good news. The company is currently up 48.36% at $12.22. This is coming on the heels of the firm announcing that it will be acquired by Avis for $500 million in cash. The acquisition is seen by many analysts as a sign of strength for the firm, which sent its stock price soaring. ZipCar is a car-sharing network with over 9,000 vehicles that serves over 700,000 members. ZipCar is based out of Cambridge, Massachusetts. In the third quarter of 2012, the firm posted a net profit margin of 5.38%.

    In construction news, Texas based company Texas Industries is currently having a strong trading day. The company is currently trading up 8.74% at $55.28. The company based out of Dallas, Texas specializes in the supply of heavy construction materials in the southwestern region of the United States. Texas Industries Inc. recently reported third quarter profit losses of 1.38% and an operating margin loss of 1.31%.

    In consumer technology news, SkullCandy is posting a down day in trading. The company is currently down 13.09% at $6.77. The company recently unveiled its new Navigator headphone, which is a high-quality audio device that the firm claims is more lightweight and aesthetic than its previous headphones. The firm also posted third quarter profit margins of 9.06% and operating margins of 14.96%. SkullCandy is a Park City, Utah-based firm that specializes in the development and distribution of headphones and audio accessories.

    In real estate news, Zillow Inc. is posting a modest, but positive gain in trading. The company is currently up 1.69% at $28.19. The firm recently made headlines when it was announced that it had filed for changes in beneficial ownership with the Securities and Exchanges Commission. Zillow Inc. is based out of Seattle, Washington and specializes in providing information about the real estate market place.

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    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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