Are The Clouds Going To Clear For MasTec, Inc. (MTZ), Platform Specialty Products Corp (PAH) and Spectrum Pharmaceuticals, Inc. (SPPI)?
New York, NY – GDP INSIDER – 05/13/2014.
This article discusses three companies: MasTec, Inc. (NYSE:MTZ), Platform Specialty Products Corp (NYSE:PAH) and Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI)
MasTec, Inc. (NYSE:MTZ) declined yesterday with the stock hitting a new one year low of $15.34 before recovering to $16.19 by the end of trading, down 12.25% or $2.26 with more than 7.53 million shares changing hands compared to its 30 day average trading volume of 0.909 million. The stocks started to drop after it missed analysts’ earnings estimates in its first quarter. The company reported earnings of $0.07 per share for the quarter, which missed analysts’ estimate of $0.18 per share by $0.11. With RSI of 30.50 and one year price target estimate of $28.06, the infrastructure construction company has plenty of upside potential, hold with a view to buy.
Platform Specialty Products Corp (NYSE:PAH) dropped yesterday as the stock lost 4% or $1.10 to finish the day at a closing price of $26.39 on higher than average trading volume of 2.65 million, compared to its three month average trading volume of 1.13 million. The sell off started after the company announced a net loss of $26.7 million or $0.21 per diluted share in its first quarter financial results. Platform Specialty Products Corp posted revenue of $534.60 million, which missed analysts’ estimate of $566.60 million by $31.8 million. With its RSI declining and MACD diverging in bearish direction, it is better to hold for now.
Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) continued its recent upward trend yesterday closing up 10.07% or $0.61 to finish the day at $6.67 on heavy trading of 3.801 million shares compared with its three month average trading volume of 1.38 million. The biotechnology company has been steadily declining for the last one year with the stock down 12.12%, but has been started to gain back some of these losses since the beginning of the month with the stock up 10.43%. The current gains have widened the positive MACD divergence and pushed its RSI to 67, indicating that it may correct downwards in the near term, but still looks a solid hold at the moment.
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