Stocks in Green in Mid-Day Trading; Consumer Cyclical Stocks Lead Gains
The U.S. equity market is up in mid-day trading, with all three major indexes currently in green. Stocks are climbing, despite some disappointing economic data released earlier today. The Labor Department, today, reported weaker than expected initial jobless claims data, while the Commerce Department reported a surprise drop in durable goods orders for the month of December.
In mid-day trading, the Dow Jones is trading 0.09% higher at 11,996.60, the S&P 500 is trading 0.19% higher at 1,299.19, and the Nasdaq is trading 0.65% higher at 2,757.25.
Consumer Cyclical stocks are continuing to lead the gains in mid-day trading. At last check, Consumer Cyclical stocks were up 1.36%. Conglomerates are also climbing in mid-day trading. At last check, Conglomerates were up 0.79%. Basic Materials stocks have been the worst performers in mid-day trading, and are currently down 0.91%.
Among the major gainers in the Consumer Cyclical sector in mid-day trading are Arctic Cat Inc. (NASDAQ: ACAT), which is currently trading 17.06% higher at $16.06, Under Armour Inc. (NYSE: UA), which is currently trading10.65% higher at $59.62, Stanley Black & Decker Inc. (NYSE: SWK), which is currently trading 8.29% higher at $72.50, Ford Motor Company (NYSE: F), which is currently trading 2.34% higher at $18.80, and Gentex Corporation (NASDAQ: GNTX), which is currently trading 9.97% higher at $33.95.
Other major gainers in mid-day trading include Hanmi Financial Corp. (NASDAQ: HAFC), which is currently trading 19.66% higher at $1.40, Caterpillar Inc. (NYSE: CAT), which is currently trading 0.55% higher at $96.28, ProLogis (NYSE: PLD), which is currently trading 7.21% higher at $15.76, Teradyne Inc. (NYSE: TER), which is currently trading 9.98% higher at $16.09, and Cirrus Logic Inc. (NASDAQ: CRUS), which is currently trading 13.51% higher at $20.34.
Potash Corp. (NYSE: POT) shares are climbing in mid-day trading after the company reported its fourth-quarter financial results. The company also raised is forecast for 2011. It also announced a three for one stock split. Potash today reported fourth-quarter net income of $482.3 million, or $1.61 per share, compared with $239.2 million, or $0.79 per share reported for the same period in 2009. For 2011, Potash now expects earnings to come in between $8.40 per share and $9.60 per share, compared with its previous forecast of $8-$8.75 per share. At last check, Potash shares were up 3.35% to $174.27, touching a 52-week high of $178.71.
