Morning Alerts for September 12: Facebook Inc. (FB), Halcon Resources Inc. (HK), Texas Instruments Incorporated (TXN)
Shares of Facebook Inc. (NASDAQ: FB), the social networking giant, are soaring in today’s trading.
At last check, FB shares were trading 5.92% higher at $20.58, with volume at 30.64 million. The stock touched an intra-day high of $20.99 in today’s trading. FB shares are down more than 45% since the May 2012 IPO.
FB shares are gaining after comments from CEO Mark Zuckerberg at the TechCrunch Disrupt Conference in San Francisco on Tuesday. Zuckerberg said that FB is halfway through a period where it is looking to retool itself as a company.
Zuckerberg noted that he is disappointed with the performance of FB shares since the May 2012 IPO, but said that he is positive that the market will soon appreciate the potential that FB has in mobile and in search.
Shares of Halcon Resources Corp. (NYSE: HK), an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the U.S., are down sharply in today’s trading.
At last check, HK shares were trading 7.72% lower at $7.89, with volume at 1.36 million. The stock fell to an intra-day low of $7.84 in today’s trading. HK shares have fallen nearly 80% in the last five trading sessions.
HK shares are sinking after the company announced the commencement of an underwritten secondary offering of 35,000,000 shares of its common stock offered by EnCap Energy Capital Fund VIII L.P. The underwriters to the offering also have a 30-day option to purchase up to 5,250,000 additional shares of HK common stock from EnCap Energy.
HK will not sell any shares or receive any proceeds from the secondary offering.
Shares of Texas Instruments Incorporated (NASDAQ: TXN), designer and maker of semiconductors for electronics designers and manufacturers globally, are marginally lower in today’s trading.
At last check, TXN shares were trading 0.35% lower at $28.48, with volume at 1.79 million. The stock fell to an intra-day low of $28.41 in today’s trading. Year-to-date, TXN shares have fallen more than 2%.
TXN on Tuesday updated its third-quarter 2012 business outlook. For the third quarter, the company now expects revenue to be between $3.27 billion and $3.41 billion. This compares to previous guidance range of $3.21 billion to $3.47 billion. Third-quarter earnings are expected to be between $0.38 per share and $0.42 per share, compared to previous guidance range of $0.34 per share to $0.42 per share.
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