Stocks quoted in this article:
On Friday, online business consulting name Sapient (SAPE – 110-1/4) moved ahead by more than three points, though it remains below its 10-day and 20-day moving averages. The stock last closed a session above both of these short-term trendlines on August 9. The shares also finished last week's trading beneath their 10-week moving average for the first time in two-and-a-half months.
This morning, SAPE gapped 1-7/16 points higher in anticipation of the company's planned two-for-one stock split, which will occur after today's closing bell. However, the security is currently lower by over one point.
Another major name that will split its stock two for one later this week is Merrill Lynch (MER – 140-1/8), whose split will be effective on Friday.