EdgeWater 10/18/2010 11:51:38 AM
News / Business

US Stocks Soared on Friday (STX, PIP, GOOG, PTEN)

US Stocks Soared

Seagate Technology PLC (NASDAQ:STX) skyrocketed 22.22% to $15.51 on unusual volumes after the company, this week, said it has been offered to go private by private firms. Although the company has not commented what Private firms has approached the company, but The Wall Street Journal sources said it could be Private equity group TPG.

In the past one month of trading sessions, the stock went up more than 37%. Over the past 52-week, the stock traded within the range of $9.84-$21.58.

PharmAthene, Inc. (AMEX:PIP) soared 61.11% to $3.19 on about 22.69 million shares. Earlier this week, the company reported Q2 loss of $0.22, cents better than the analyst estimate of ($0.21). Revenue for the quarter was $4.8 million, which compares to the estimate of $7.00 million.

Volumes were massive as 22.69 million shares are traded as compared to its average daily volume of 264K shares.

Google Inc. (NASDAQ:GOOG) jumped 11.19% to $601.45 on about 14.82 million shares. Late Thursday, the company said that it earned $2.17 billion, or $6.72 a share, on $5.5 billion in revenue for its third quarter. During the same period a year ago, Google earned $1.64 billion, or $5.13 a share.

Analysts surveyed by Thomson Reuters had forecast Google to earn $6.69 a share on $5.3 billion in sales.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) advanced 5.62% to $19.54 on unusual volumes after it made its fresh one-year high of $19.67. The stock was raised from Underperform to Outperform by Credit Suisse Group AG.

In the past one month of trading sessions, the stock went up more than 22%. Over the past 52-week, the stock traded within the range of $11.85-$19.67.

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