Start the conversation
Take a look at 12 of Friday's hot stocks on the move, and find out what's behind their action.
12 Hot Stocks to Watch Today
FireEye Inc. (Nasdaq: FEYE) starts off our list of Friday's hot stocks to watch. FEYE shares climbed 4% to $33.79 thanks to an upgrade from Barclays. The firm upgraded the cybersecurity company from "Equal Weight" to "Overweight" with a $40 price target. Barclays said the upgrade was a valuation call, citing the recent pullback in FEYE shares.
Foot Locker Inc. (NYSE: FL) shares jumped 3% to $49.50 after the athletic apparel and footwear company sprinted past profit and revenue expectations. For Q1 2014, Foot Locker earned $1.11 per share on revenue of $164 million. That was up from earnings per share (EPS) of $0.91, or $138 million, in the same quarter a year ago. It also topped Wall Street EPS estimates of $1.06 on revenue of $1.79 billion. The company reiterated a "strong" outlook for the remainder of 2014.
GameStop Corp. (NYSE: GME) shares gained 5.69% to $39.53. The videogame retailer reported Thursday after the close that Q1 profit rose to $68 million, or $0.59 per share, up from $54.6 million, or $0.46 per share, a year ago. Quarterly sales rose 7% to $2 billion, up from $1.87 a year earlier. Driving growth are new consoles. Through the first six months of launch, industry PS4 and Xbox hardware unit sales were 107% higher than for previous generations. And, new console software unit sales rose 45%.
Hewlett-Packard Co. (NYSE: HPQ) rose 6.55% to a 52-week high of $34.09 after reporting fiscal Q2 2014 earnings in line with estimates. The tech company posted EPS of $0.88 on revenue of $27.3 billion. Analysts were looking for EPS of $0.88 on revenue of $27.3 billion. The company forecast Q3 EPS of $0.86 to $0.90, within Wall Street estimates of $0.89. HPQ also said it may slash headcount up to 16,000 in a major ramp-up of Chief Executive Officer Meg Whitman's quest of turning the personal computer maker around. Whitman said the company plans to launch a 3-D printer later this year. Among the no fewer than four price target hikes, J.P. Morgan lifted its outlook from $35 to $38.