Facebook Inc (NASDAQ:FB) was hot on the volume charts Yesterday. The social media behemoth plunged by close to 6 percent on the back of 2.5 times the daily average volumes which is a bearish indicator. The sell off was on the back of a bleak forward guidance provided by the company for the coming year. The company released its quarterly report yesterday post market hours. The earnings were higher than the street estimates but it was during the conference call that the management laid out a bleak forward guidance which is being seen as a huge negative for the stock going forward.
Bank of America Corp (NYSE:BAC) was a notable volume buzzer in trade Yesterday. The stock was higher by close to a percent but witnessed huge intra day volatility as traders and investors tried to comprehend the repercussions of the Fed Statement on the financial industry. In its statement, the Federal Reserve its quantitative easing programme and spoke about hiking interest rates before expected if the growth in the US economy continued to show strength. The company also announced that it would continue to focus on growth markets in Asia going forward which is being seen as a huge positive.
Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) was another notable volume buzzer in trade Yesterday. The stock plummeted by close to 4 percent on the back of volumes which were higher than the daily average. It is imperative to state that Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) has been in a strong downtrend right from the time the results of the Brazilian elections were announced. The stock has fallen by close to 20 percent in the last week itself as the re-elected Dilma Rousseff is considered to continue the pro-socialist stance, seen as a huge negative for the stock and the sector going forward.