Editor’s note: Related Tickers: JPMorgan Chase & Co. (NYSE:JPM), Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), Micron Technology, Inc. (NASDAQ:MU), Citigroup Inc. (NYSE:C), Magnum Hunter Resources Corp (NYSE:MHR)
This has been a busy week, but Wednesday was particularly insane for market participants. As usual, the stock market was buzzing among news about companies successes, failures, plans, etc. However, a number of stocks made through the day being traded more than others, which caused their turnover to surge. Among most popular stocks on the Wednesday of this week we can ennumerate: JPMorgan Chase & Co. (NYSE:JPM), Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), Micron Technology, Inc. (NASDAQ:MU), Citigroup Inc. (NYSE:C), and Magnum Hunter Resources Corp (NYSE:MHR)
JPMorgan Chase & Co. (NYSE:JPM) fell by 3.24% to $46.92 in deals worth $37.7 million. So, we can easily notice a decline in the stock price, which actually is true for all the big banks. JPMorgan Chase & Co. (NYSE:JPM) last Friday posted its first-quarter earnings. The bank’s total revenue narrowed, as well as the mortgage business, but overall, the news was positive.
Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) in turnover worth $33.7 million lost 4.60% to $27.91. In a piece of a recent story we have discussed about the fact that Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) is counting a lot on acquisitions. The company is planning to purchase Plains Exploration & Production Company (NYSE:PXP) and Mcmoran Exploration Co (NYSE:MMR).
In deals worth almost $34 million, Micron Technology, Inc. (NASDAQ:MU), declined by 4.47% to $9.43. Even though on Tuesday, the stock was gaining ground, on Wednesday it seemed to slow down. Micron Technology, Inc. (NASDAQ:MU) is planning to purchase the assets of Elpida, a move that will add 45% to Micron’s 300 million total wafer capacity and will move it into the second position as one of the world largest processors of silicon, being overrun only by Samsung.
The next one on our list is Citigroup Inc. (NYSE:C). The stock fell by 1.69% to $45.87 in $29.8 million turnover on Wednesday. After posting some strong first quarter results, Citigroup Inc. (NYSE:C) pleased the investors. The bank posted a profit of $3.81 billion, or $1.23 per share, which is higher than previous year’s $2.93 billion ($0.95 per share), according to iStockAnalyst. However, the slump of all big banks and markets has affected Citigroup as well.
With turnover of $34.3 million, Magnum Hunter Resources Corp (NYSE:MHR) has also made the list. The share price of Magnum Hunter Resources Corp (NYSE:MHR) dropped by 15.06% to $2.82 on the day it is scheduled to release its financial results. 4-traders reported that Magnum Hunter Resources Corp (NYSE:MHR) has provided updates on its upstream unconventional resource plays for the first quarter of 2013, among which are: Appalachia/Marcellus/Utica Shales, Williston Basin, and Eagle Ford Shale.
