Monday’s Key Market Movers Roundup: Mercadolibre, Navistar International, OCZ Technology, Power Integrations, First Solar, LDK Solar, Yingli Green

Mercadolibre Inc’s (NASDAQ:MELI) stock plunged, after the online marketplace company’s growth isn’t what it appears, as shown in recent story in Barron’s. The disjointed economies of Venezuela and Argentina have assisted MercadoLibre’s results.

Mercadolibre Inc (NASDAQ:MELI) last session’s volume of 725,098 shares was higher than its average volume of 429,616 shares. The stock, after opening at $109.16, hit a high price of $110.89 and then closed at $108.53 by scoring -4.29%.

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Heavy-duty engine manufacturer, Navistar International Corp (NYSE:NAV), reported that it has amended a deal with activist investors Carl Icahn and Mark H. Rachesky, permitting them to choose 2 nominees for election to its board, in exchange for their agreeing to not run a proxy contest.

Navistar International Corp (NYSE:NAV), on July 15 2013, increased +9.71%, to the closing price of $31.99. The overall volume in the last trading session was 2.86 million shares. Its fifty two weeks range was $18.17 – $38.81. The total market capitalization remained at $2.57 billion.

Shares of OCZ Technology Group Inc (NASDAQ:OCZ) moved down over 5 percent, as the data-storage provider estimated a 50 percent decline in fiscal Q1 revenue from the previous year, primarily because of the continued tight supply of NAND flash memory.

OCZ Technology Group Inc. (NASDAQ:OCZ) dropped -5.45%, reaching at $1.56, after hovering between $1.52 and $1.65. This stock is ahead of its 52-week low 40.54% and lagging behind its 52-week high price -79.66%. OCZ’s last month’s stock price volatility remained 7.05%.

Circuits supplier, Power Integrations Inc (NASDAQ:POWI), boosted fiscal Q2 guidance for revenue and gross margin, with CEO, Balu Balakrishnan, mentioning the firm observed stronger-than-forecasted demand in fiscal Q2.

With a recent gain of +10.95%, to $49.35, the share price of Power Integrations Inc (NASDAQ:POWI) has moved forward from its 20 days moving average 19.96% and positively from its 50 days moving average 17.16%.

First Solar, Inc’s (NASDAQ:FSLR) stock moved up, as China boosted its 2015 target for solar power capacity. The action will directly impact domestic corporations, however is also good for the entire industry, as said by Lazard Capital Markets’ Sanjay Shrestha.

First Solar, Inc. (NASDAQ:FSLR) increased +5.50%, to the closing price of $50.27. The stock showed weekly upbeat performance of 9.14%, which was maintained for the month at 9.64%. Likewise, the positive performance for the quarter was recorded as 39.60% and for the year was 243.14%, while the YTD performance remained at 62.90%.

LDK Solar Co., Ltd (ADR) (NYSE:LDK) last session’s volume of 6.23 million shares was higher than its average volume of 1.78 million shares. The stock, after opening at $1.50, hita  high price of $1.77 and then closed at $1.77 by scoring +21.53%.

With a recent gain of +11.23%, to $4.16, the share price of Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) has moved forward from its 20 days moving average 25.41% and positively from its 50 days moving average 39.26%.

About the Author:

Editor-in-Chief Rob Tanner has been with Equity Observer since 2009 and was given his current role in late 2011.


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