Big Movers Before Noon (CMC, CX, GNW)
Commercial Metals Co. (NYSE: CMC) is up nearly 23% on more than 6 times normal daily volume shortly before noon today. Shares are trading at $14.04, following a takeover offer of $1.73 billion from Carl Icahn. Cemex, SAB de C.V.…
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Commercial Metals Co. (NYSE: CMC) is up nearly 23% on more than 6 times normal daily volume shortly before noon today. Shares are trading at $14.04, following a takeover offer of $1.73 billion from Carl Icahn.
Cemex, SAB de C.V. (NYSE: CX) is up nearly 20%, at $4.16 on essentially normal volume of nearly 7.5 million shares traded. This could be the result of some technical measures of the stock price.
Genworth Financial Inc. (NYSE: GNW) is up nearly 13.5%, at $6.11, on slightly higher than normal volume of 5.6 million shares so far today. Citigroup has said the company is in no danger of becoming insolvent.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.