Gasoline futures hit a new low this week. They haven’t been this low in three months and are regularly dropping, even though crude oil futures have remained unchanged. Analysts found a correlation between gas prices and the S&P group performance. They found that when the price of gas was down other segments were up. The group with the largest negative parallel to gas price was the airline industry. Another area of negative correlation was food and personal goods. With gas prices falling, as predicted, food and staples group on the S&P500 was posting impressive profits.
Stocks to Watch
Voltari Corp (NASDAQ:VLTC) post a higher than expect the closing price of $8.00 which is a premium for its 200-day average that was $4.41.Although out of the gate slowly, Voltari Group managed to end the cycle up. For its 52-week postings, it started at $0.63 and ended at $21.75. VLTC is trading at a discount when compared with its 52-week high of $21.75. Market valuation for this stock is at 6.04. It was up+1112.12% for the year through last close, and the beta ratio has a value of 1.49.
Glu Mobile Inc (NASDAQ: GLUU) was trading low with a volume of 1.779 million, which was even lower than the expected standard volume. Shares continue to climb and were up from +5.42% to $6.42. The total run for the year was up and landed on a high note for the 52 week. A gain of +64.62% was posted while the stock continues to climb. After the 52-weeks rally, the stock grew another $0.42 (7%) but then fell, posting the worst price of $3.27. The last 50 days has been even more unexpected as the stock moved down with a moving average of $6.39.
The current price of Sunedison Inc (NYSE: SUNE) has been discounted to the 12-month high of $32.66. It hit this high a few weeks ago and has continued to climb. The last price for the period was the 52-week low of $13.09. Despite this smaller than expect 52-week closing, the stock was up for the year with +59.76% in gains. The total gains rounded out to roughly $2.92. While the company has a large operating budget of $8.56 billion, it isn’t translating into positive income. With an operating margin of -21.90 percent and a net profit margin of -41.60 percent, it’s clear that these numbers require further attention.