The Market Rebounds and Sea World Makes its Debut

Mon Apr 22, 2013 8:30am EDT

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The Market Rebounds and Sea World Makes its Debut

PR Newswire

NEW YORK, April 22, 2013 /PRNewswire/ --

Most stocks saw gains on Friday, bouncing back from losses on Thursday when the S&P 500 closed below its 50-day moving average for the first time this year. Sea World Entertainment Inc. made its debut on the New York Stock Exchange trading under the ticker SEAS. The company's initially public offering of 26 million shares was priced at $27 per share. SEAS closed on Friday at $33.84 a share.

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General Electric Company (NYSE: GE) - General Electric Company closed down 4.06% on Friday even though the Company reported that earnings rose 16% on NBC sale.  Revenue from Europe however fell 17 percent compared with last year and dragged the stock lower. Shares closed at $21.75 on Friday.

Many mid or large cap stocks once started off as Penny stocks!

Excel Maritime Carriers, Ltd. (NYSE: EXM) - EXM was one of the biggest decliners on the NYSE on Friday. The stock closed down 43.62% at $0.4398. According to the Daily Docket: Excel Maritime May Enter Bankruptcy. The stock has a 52-week trading range of 0.36 - 1.91.

Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) - Shares of VRTX hit a new 52-week high on Friday of $85.90. The stock closed with gains of nearly 62% on Friday after the company announced positive mid-stage data for its combination of VX-661 and its FDA-approved Kalydeco for the treatment of cystic fibrosis in patients with the F508del mutation.

Penny stocks  can deliver sky-rocketing returns and are a popular choice among many investors.

Microsoft Corporation (Nasdaq: MSFT) - Microsoft led the DOW on Friday after the Company's fiscal 3Q report topped Wall Street expectations. Microsoft said late Thursday that it earned $6.1 billion, or 72 cents per share, in the third quarter. Shares of MSFT closed up 3.39% on Friday at $29.76.

Chipotle Mexican Grill, Inc. (NYSE: CMG) - Analysts raised their 12-month price targets on Chipotle after the Company beat 1Q earnings. Chipotle's first-quarter 2013 earnings of $2.45 per share beat the Zacks Consensus Estimate of $2.14 per share by 14.5%. According to the latest FactSet poll of Wall Street analysts, the next stop for Chipotle is $376.38. Shares of CMG closed up 11.54% on Friday at $366.25.

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