We have a couple of big movers to talk about this morning. Cobalt International Energy (NYSE:CIE) stock is up almost 40% on the day. Last night, the oil company said drilling tests from a well near Angola were much better than expected.
And not such great news from apparel designer True Religion (NASDAQ:TRLG). Those shares are down almost 24% after disappointing Wall Street with it's 4th quarter earnings and sales results. In addition, Citigroup reportedly downgraded the shares to a neutral from a buy.
And Expedia (NASDAQ:EXPE) shares were also lower on its disappointing 4th quarter results. The online travel company posted diluted EPS of $0.44, compared to $0.45 for the same period last year as higher costs offset a 7% increase in revenue.
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