by Deborah OMalley | July 11, 2011 11:37 am
Stocks ended the first trading week in June with a thump. This week — which marks the beginning of another earnings season — is looking no better. EU officials have called an emergency meeting to discuss global economic affairs. In response, jittery investors have pushed the major market indexes down over -1% this morning, causing a number of stocks to fall to 52-week lows, including international financial service provider Barclays Plc (NYSE:BCS).
However, consumer stocks like movie provider Netflix (NASDAQ:NFLX) and coffee packager Coffee Holding Co. (NASDAQ:JVA) are rising to 52-week highs.
A more detailed report follows below.
Barclays Plc (NYSE:BCS): The international financial service provider has lost about -5% in morning trading on renewed concerns over the European debt crisis. With the Greek debt situation still at the forefront of investor’s minds, attention is now also turning to Italy where many banks appear to be in trouble.
Fibria Celulose S.A. (NYSE:FBR): The global pulp and paper products manufacturer has fallen about – 4.5% so far this morning. On Friday, Goldman Sachs (NYSE:GS) investment firm downgraded the Brazilian paper company to “neutral” from “buy”.
Shaw Group Inc. (NYSE:SHAW): The heavy construction and facilities management firm has slipped about -4.5% this morning, after research firm Robert W. Baird downgraded the stock from “outperform” to “neutral” and lowered the stock’s price target to $34.
Arch Chemicals (NYSE:ARJ): The chemicals company that makes microbe-killing and anti-bacterial solutions has gained over 11% so far this morning. The company is up on news it is being acquired by Swiss-based chemicals firm, Lonza Group AG, for $1.4 billion, resulting in the largest microbial control company in the world.
Coffee Holding Co. (NASDAQ:JVA): The North American processor and packager of roasted and blended coffee has jolted up around 8% this morning. Over the past month, JVA stock has risen about 120% and appears to be riding higher on strong technical momentum.
Netflix (NASDAQ:NFLX): The popular online movie rental subscription service company is tuning in over a 1% gain this morning. NFLX stock, which is testing round number resistance near $300, is up on recent news that Netflix will be expanding its streaming service into 43 countries in Latin America and the Caribbean later this year.
As of this writing, Deborah O’Malley did not own a position in any of the stocks named here.
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