Stocks Losing Momentum: Arch Coal Inc (NYSE:ACI), Mitsubishi UFJ Financial Group Inc. (ADR) (NYSE:MTU), Synovus Financial Corp. (NYSE:SNV)
Northern, WI 04/23/2013 (GDPInsider) – Arch Coal Inc (NYSE:ACI) opened trading today at $4.88 but has since slumped 6.54%. The stock’s previous close $4.89 and the day’s trading range is $4.50 and $4.90. The marginal drop in stock price looks almost certainly tied to the company’s latest earnings call which took place today. In it ACI blamed Q1 losses on lower prices and poor sales volumes. The company has an adjusted net loss of $0.34 a share—a jump on the $0.04 adjusted net loss reported the year before. Arch Coal is upbeat about the second quarter, however, and expects the coal market to bounce back.
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Mitsubishi UFJ Financial Group Inc. (ADR) (NYSE:MTU) opened trading at $6.55 and is trading up 0.46%. The stock’s previous close was $6.57 and the day’s range is $6.55 and $6.60. Volume in MTU is presently 2.22 million shares and there are 14.16 billion shares outstanding. Institutions own just 0.95% of shares in the company. The technical; chart for the stock shows a northward climb and this trend started in December 2012. The stock is presently trading 3.26% above its 20-day moving average and 28.60% above its 50-day moving average. The stock is currently trading above the target price of $6.41 set by analysts and the forward P/E for MTU is 13.14.
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Synovus Financial Corp. (NYSE:SNV) opened trading at $2.56 and is trading down 0.39%. Trading volume is 7.16 million shares and the day’s range is $2.48 and $2.57. The stock is down 12.45% on its 52-week high but up 54.22% on its 52-week low. The RSI for the stock is 39.21 and a analysts have set a target price of $2.79 for SNV. The stock is currently trading down 4.85% on its 20-day moving average and a further 5.46% down on its 50-day moving average. The company has a debt/eq ratio of 0.54 and EPS this year is tipped to grow by 660.77%.
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