Mid-day Movers (RSH, VRNG, GNTX, REE, CDTI)
Among the major movers at around noon today are RadioShack Corp. (NYSE: RSH), Vringo Inc. (NASDAQ: VRNG), Gentex Corp. (NASDAQ: GNTX), Rare Element Resources Ltd. (AMEX: REE), and Clean Diesel Technologies Inc. (NASDAQ: CDTI). Shares of RadioShack are down nearly…
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Shares of RadioShack are down nearly -29% in early trading this morning on a weak pre-announcement of quarterly results. Nearly 31 million shares have been traded so far today, compared with a 3-month daily average of about 2 million shares traded. We have more coverage here.
A big winner this morning has been Vringo, also up about 29% on essentially no news. More than 2 million shares have traded this morning, compared with a 3-month daily average of around 65,000. Our take on the run-up is here.
Gentex is down more than -11% following a quarterly earnings report that missed estimates due to falling margins. Nearly 3 million shares have traded this morning, compared with a 3-month daily average of about 753,000.
Rare Earth Resources is up nearly 15% on essentially no news other than a ruling from the WTO that China’s restriction on rare earth minerals’ exports violates global trade rules. More than 5 million shares have traded by mid-day, compared with a daily average of about 1.4million.
Clean Diesel shares are up more than 14% on essentially no news. More than 600,000 shares have already traded this morning, compared with a 3-month daily average of about 140,000 shares.
Paul Ausick
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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.