Kerri Shannon
Kerri'S LATEST HEADLINES
-
Stock Market News Today: Why Annie's (NYSE: BNNY), Amylin (Nasdaq: AMLN) Soared Today
Among the biggest moves in stock market news today include an 87% gain for organic food maker Annie's Inc. (NYSE: BNNY) in its first trading day, and a 55% jump for Amylin Pharmaceuticals (Nasdaq: AMLN).
Annie's Inc. (NYSE: BNNY) surges in first-day trading: It was expected to be among the best performers of the nine other companies going public this week – and it delivered.
The organic food producer ended its first trading day up 87%. The company offered 5 million shares at $19 a share.
"It's definitely the hottest deal of the week," Scott Sweet, senior managing partner at IPO Boutique, told Reuters. "They have only a few products but they've executed very well and have high brand awareness."
Known for its organic and gluten-free foods, Annie's hopes to capitalize on Americans' increasing trend toward healthy eating.
The growing popularity of more nutrition-conscious grocery shopping is illustrated in Whole Foods Market Inc. (Nasdaq: WFM) 844% share price rise in just over three years. Same-store sales at Whole Foods have steadily risen 8% over the past two years.
Annie's sales for the 2011 fiscal year that ended March 31 were $118 million, 23% higher than 2010. Profit increased 233% to $20.2 million from the year before.
- Pentair Inc. (NYSE: PNR): How this Water Stock Delivered Double-Digit Gains in One Day
-
Stock Market Today: Housing Data Makes KB Home (NYSE: KBH), Homebuilder
Stocks a "Hold" - Keystone XL Oil Pipeline Project Back in Election 2012 Spotlight
- Stocks to Watch Today: FedEx (NYSE: FDX), Lululemon (Nasdaq: LULU), McDonald's (NYSE: MCD)
- The Stock Market Today: Zynga (ZNGA), Kraft (KFT), Hewlett-Packard (HPQ), Hartford (HIG)
- Why a Goldman Sachs (NYSE: GS) Report Says It's Time to Buy Stocks
- Stocks on the Rise Today: Tiffany & Co. (NYSE: TIF), Amazon.com Inc. (Nasdaq: AMZN), Solar3D
- Monday's Stock Market News: UPS Inc. (NYSE: UPS), US Steel Corp (NYSE: X), Glencore
- Tech Stocks to Watch: Cisco (CSCO), Apple (AAPL), Demandware (DWRE)