Editor’s note: Related tickers: Bank of America Corp (NYSE:BAC), Microsoft Corporation (NASDAQ:MSFT), Rite Aid Corporation (NYSE:RAD), Cleantech Solutions International Inc (NASDAQ:CLNT), Rally Software Development Corp (NYSE:RALY), Sinclair Broadcast Group, Inc. (NASDAQ:SBGI)
As it always is, markets have some news prepared for us. Since there are literally thousands of companies listed, every increase, decrease or deal has a story behind it. Let’s take a closer look to the companies that are the most traded on April 12, and those which managed to advance the most. Highlights include: Cleantech Solutions International Inc (NASDAQ:CLNT), Bank of America Corp (NYSE:BAC)
The highest traded stock on Friday is Bank of America Corp (NYSE:BAC) with a turnover worth $57.6 million. Bank of America’s shares fell by 0.89% to $12.16 by 1.44 pm EDT. Bank of America Corp (NYSE:BAC), actually was the best performing stock in the last 16 months advancing dramatically by 111%. However, Bank of America Corp (NYSE:BAC) is trying to make its operations more simple. It announced that it will reduce costs in the board and it has reduced it’s equity investments by 72% yoy.
The second largest turnover on Friday, worth $40.6 million, belongs to Rite Aid Corporation (NYSE:RAD). Rite Aid Corporation (NYSE:RAD)’s shares advanced by 8.25% to $2.30 by 1.44 pm EDT. Recently Rite Aid Corporation (NYSE:RAD) announced its first annual profit after constantly reporting losses since 2007, Bloomberg said in a report on Thursday.
The third most traded stock is Microsoft Corporation (NASDAQ:MSFT). In deals worth $40.5 million, Microsoft Corporation (NASDAQ:MSFT)’s shares edged down by 0.54% to $28.78 by 1.44 pm EDT. Earlier today we have discussed about the fierce competition between Microsoft Corporation (NASDAQ:MSFT) and Google Inc (NASDAQ:GOOG) on the field of search engines. Even though Microsoft Corporation (NASDAQ:MSFT)’s Bing has some positive points, most users still choose Google basically for its online safety and security.
If we take a look on the highest gainers today, there are few important points to mention. First highest gainer is Cleantech Solutions International Inc (NASDAQ:CLNT) which surged by 48.24% to $4.64 in deals worth $2.6 million by 1.37 pm EDT. Yesterday, Cleantech Solutions International Inc (NASDAQ:CLNT) released its fourth quarter and annual financial results for 2012. According to a statement, Cleantech Solutions International Inc (NASDAQ:CLNT)’s profit totaled $17.6 million in the last three months of 2012, which represents an annual increase by 28.3%. Over the whole 2012, company’s profit amounted to $57.2 million (a 2.9% year-on-year increase). “The year 2012 was marked by a challenging environment in China that impacted capital spending and demand from customers in our key end markets, particularly during the first half of the year. Despite these challenges, we closed the year with 28.3% growth in revenue in the fourth quarter, driven by strong demand for our patented airflow dyeing machines and improving sales of forged products to customers in the wind power industry. Although we recorded a non-cash impairment loss related to equipment which we are no longer using and which is being held for sale during the fourth quarter, we were still profitable due to greater operational efficiencies and careful cost control,” the statement quoted Mr. Jianhua Wu, Chairman and CEO of Cleantech Solutions International Inc (NASDAQ:CLNT.
The second highest gainer is Rally Software Development Corp (NYSE:RALY). The shares of the company appreciated by 29.28% to $18.10 in deals worth $5.0 million by 1.37 pm EDT. Rally Software Development Corp (NYSE:RALY) is in its first day of trading on the New York Stock Exchange, according to a statement on NYSE website. Rally Software Development Corp (NYSE:RALY), involved in offering services for companies that access the Agile software development methodology, has raised $84 million in its IPO, Denver Post said in a report.
The last position in the list of top three gainers is held by Sinclair Broadcast Group, Inc. (NASDAQ:SBGI), which grew by 15.32% to $27.32 in deals worth $5.1 million by 1.39 pm EDT. On Thursday, Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) said it has agreed to purchase Fisher Communications, Inc. under a deal worth $373.3 million. “Under the terms of the agreement, Fisher shareholder swill receive $41.00 in cash for each share of Fisher common stock they own. The transaction represents a 44% premium to the closing price of Fisher common stock on January 9, 2013, the final trading day prior to Fisher announcing a review of strategic alternatives,” Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) said in a statement.
