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Morning’s Hot Stocks (MOT, PALM, UWBK, POT) : by Penny Stock Pick Report
Hot Stocks
Motorola, Inc. (NYSE:MOT) jumped 5.20% to $7.28. The handset maker that’s rebuilding its mobile-phone business around Google Inc.’s (GOOG:US) Android software forecast second-quarter earnings of as much as 9 cents excluding some items, topping the 4-cent average analyst estimate compiled by Bloomberg. The company also reported first-quarter profit of 2 cents a share excluding some items, compared with the average analyst estimate of a loss of 1 cent.
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Palm, Inc. (NASDAQ:PALM) climbed 25% to $2.78. The maker of the Pre smartphone agreed to be bought by Hewlett-Packard Co., the world’s biggest maker of personal computers, for $5.70 a share, or $1.2 billion, representing a 23 percent premium over Palm’s closing price yesterday. Hewlett-Packard (HPQ:US) lost 0.1 percent to $53.22.
United Western Bancorp, Inc. (NASDAQ:UWBK) slid 13.50% to $1.67. The holding company of United Western Bank filed a lawsuit over losses related to six mortgaged-backed securities the bank purchased from Countrywide Financial Corp. Defendants also include Bank of America Corp. and UBS Securities LLC.
Potash Corp./Saskatchewan (USA) (NYSE:POT) jumped 1.83% to $111.01 after its first-quarter profit rose 46% to $1.47 per share, or $449.2 million. Analysts expected $1.30 a share, according to FactSet. The "higher demand we are seeing today is a precursor to a longer-term rebound as farmers strive to catch up on applications missed in 2009 and work to meet the increasing need for food production in the years ahead," the firm said.
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