(By Mayur Pahilajani - iStockAnalyst Writer)
As global markets plunge on major sell-offs, investors are still holding on to some of the stocks including the ones from the financial sector.
Deutsche Bank AG (London Branch) (NYSE ARCA: EGB):
Shares of the firm were rallying Wednesday's early trading session as some traders still had some hope in the Germany's largest bank by assets. The authorities in Germany and European Central Bank are trying to restore confidence in the financial system through rate cuts and infusing capital to support distressed banks. The stock has started to gain some volume since the last few sessions. At 9:38am ET, the stock traded up by $12.20 or 101.67 percent at $24.20, after hitting a new high of $30 from the previous $12. It has a dividend yield of 1.76 percent.
Diamond Foods Inc (NASDAQ GS: DMND):
The food company specializing in culinary nuts and snack products has shown some strong gains in the last few days, when the Wall Street suffered a set back with the Dow Jones industrial average dropping over 1,400 points. On Tuesday, the firm announced that its Board has authorized a cash dividend of $0.045 per common share. The dividend will be payable on October 29, 2008, to common stockholders of record as of October 16, 2008. The firm recently posted a higher-than-expected fourth-quarter earnings on higher sales in culinary business. The company's culinary sales surged by 39 percent as more number of U.S. consumers decided to eat at home.
Snack maker also projected its first quarter earnings in fiscal 2009 is expected to rise at least by 15 percent with net profit of up to 63 cents a share and sales revenue to be between $190 million and $205 million. At 10:54am ET, shares of the company were trading higher by 25 cents or 0.85 percent to $29.67, after it reached a high of $30.75. On Tuesday, the firm hit a 52-week high of $30.90, while it has traded as low as $15.83.
Sciele Pharma Inc (NASDAQ GS: SCRX):
In morning trading, Sciele shares gained by $0.01 or 0.03 percent to 31.01, after it hit a 52-week high of $31.07 Tuesday from the previous $31.05. On Tuesday, the firm announced that the tender offer by Japanese pharmaceutical company, Shionogi & Co. (TSE) was completed at $31.00 per share for the 85.44 percent of outstanding shares. The acquisition is likely to be worth about 150 billion yen ($1.5 billion). The pharmaceutical industry has not completely affected by the financial meltdown and there are some good stocks to buy.
Peoplesupport Inc (NASDAQ GS: PSPT):
The firm soared on Wednesday morning trading on reports that Essar Services will complete the agreed $12.25 per share acquisition by its subsidiary, Aegis BPO, by October 31. Aegis BPO recently received antitrust clearance to acquire Peoplesupport. The stock was surging by $2.18 or 23.57 percent to $11.43 at 11:28am ET, after closing sharply down to $9.25 on reports that Essar was planning to delay the acquisition that may cause the agreement to collapse.
Ldk Solar Co. Ltd (NYSE: LDK):
Among solar stocks, the market analysts on Wall Street have "Buy" rating on Ldk Solar. On Wednesday, solar wafer maker LDK Solar increased its third-quarter projection, citing revenue and shipments exceeded expectations. The company estimates revenue to be in the range of $530 to $540 million, up from its previous estimate of $486 to $496 million for the quarter. The firm also announced that it reached the annualized wafer production capacity of 1.2 GW by the end of the third quarter this year. At 11:18am ET, shares of the manufacturer of multicrystalline solar wafers surged by $2.64 or 13.66 percent to $21.96 with higher volumes. The stock has traded between $19.30 to $75.65.
