(By Salman - iStockAnalyst Writer)
US stocks rose on Wednesday afternoon ahead of the Federal Reserve's decision on interest rates.
Below we highlight few stocks that witnessed heightened activity on Wednesday.
Ford Motor Company (NYSE:
F): The second-largest US automaker on Wednesday unveiled a new small car at a press conference in Delhi, India. The subcompact, which is called the Figo, will be produced in India for the Indian market as well as for export. The small car has been specifically developed for Asia. The the Dearborn, Michigan- based automaker has invested $500 million in its factory in India, to prepare it for high-volume production of the Figo. The recent move clearly indicates that Ford is quite serious about increasing its focus on the fast-growing car markets of the Asia-Pacific region. The Figo's launch "signals Ford's intention to compete in India's largest and most important small-car market segment," the company said on Wednesday. Meanwhile, on Friday, Ford will announce plans to open its third assembly plant in China, the fastest growing economy. "Asia-Pacific is a really important market for us," Alan Mulally, chief executive of Ford, said. "We will accelerate our presence" in the region, he added. Ford is also raising production in North America by 26 percent in this year's second half, to 1.1 million vehicles. According to Mullaly, industry wide sales may total about 11 million this year and rise to 12.5 million next year. The company's North American vehicle sales were climbed 17% in August 2009, compared to August 2008, boosted by the government's cash-for-clunkers program. Shares surged over 6% in midday trade on Wednesday.
Xilinx Inc. (NASDAQ:
XLNX): Shares of the chipmaker rallied over 5% on Wednesday after it boosted its fiscal second-quarter sales outlook, citing stronger demand "across nearly all end-markets and geographies." The San Jose, Calif.-based company said that it now expects sales to rise roughly 10% sequentially. Previously, the company had expected sales to increase roughly 2% to 6% sequentially. The revised sales outlook translates to roughly $413.82 million. Analysts currently expect the company to report sales of $389.62 million. It also reiterated its estimates for gross margin and restructuring charges for the period. "The increased sales guidance is primarily due to broad based strength across nearly all end markets and geographies," the company said in a statement. Additionally, in a research note, Barclays Capital analyst Tim Luke said he sees "September quarter tracking solidly through July, August and early September." Xilinx is scheduled to report quarterly results on October 14.
Goodrich Petroleum Corp.
