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Trader`s Favorite Stocks: Wal-Mart Stores, Inc., ConocoPhillips, Cal-Maine Foods, Inc., MGM Resorts International

Posted by admin 963 days ago (http://emailwire.com)

(EMAILWIRE.COM, September 28, 2010 ) New York, NY-Wal-Mart Stores, Inc. (NYSE:WMT) lost 1.11% to $53.48 on over 8.66 million shares. The company made a non-binding proposal to acquire South Africa-based Massmart Holdings Ltd. for 148 rand ($21.13) a share, or $4.26 billion, making a push to expand its foothold into the rapidly growing African market.

The stock today opened at $53.91 and is trading within the range of $53.47-$54.01. At current market price, the market capitalization of the stock stands at $194.48 billion.

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ConocoPhillips (NYSE:COP) slid 0.18% to $56.26. The company said Monday it received notice from Lukoil that the Russian oil company will exercise its option to buy back 42.5 million shares owned by the U.S. oil major. ConocoPhillips said pretax proceeds of the transaction will total $2.38 billion, with an expected closing on Sept. 29.

The proceeds will be used to buy back ConocoPhillips stock, the company said. ConocoPhillips said it will still own 6.2% in Lukoil after the latest transaction.

Cal-Maine Foods, Inc. (NASDAQ:CALM) fell 1.88% to $29.73. The company said Monday that it swung to a fiscal first-quarter profit of $4.8 million, or 20 cents a share, from a loss of $3.8 million, or 16 cents a share, a year earlier.

Revenue for the quarter ended Aug. 28 rose 1.5% to $190.4 million.

Over the past 52-week, the stock traded within the range of $24.90-$38.88. In the past one month of trading sessions, the stock went down more than 5%.

MGM Resorts International. (NYSE:MGM) added 5.44% to $11.25 on over 38.25 million shares. The company disclosed in a regulatory filing that MGM China Holdings Limited, a Cayman Islands company which has been formed by MGM Resorts International and Ms. Pansy Ho, filed a proposed listing application on Form A1 with The Stock Exchange of Hong Kong Limited in connection with a possible listing of its shares on the main board of the Hong Kong Exchange.

Over the past 52-week, the stock traded within the range of $8.54-$16.66. In the past one month of trading sessions, the stock went up more than 19%.

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