Mid-day Movers (VRNG, MNOV, ZNGA, BCO, ANF)
Among the major movers at around 1 p.m. today are Vringo Inc. (NASDAQ: VRNG), MediciNova Inc. (NASDAQ: MNOV), Zynga Inc. (NASDAQ: ZNGA), The Brinks Co. (NYSE: BCO), and Abercrombie & Fitch Co. (NYSE: ANF). Shares of Vringo are up more…
Shares of Vringo are up more than 31% at $1.77. About 2.7 million shares have been traded so far today, compared with a 3-month daily average of about 120,000 shares traded. The company offers apps that are tightly integrated with Facebook.
MediciNova is up more 32% at $2.50. Nearly 264,000 shares have traded this morning, compared with a 3-month daily average of around 7,700. The company received a favorable patent notice for a multiple sclerosis treatment device.
Zynga is up more than 15% following the announcement of Facebook’s IPO (see our coverage here). More than 39 million shares have traded this morning, compared with a 3-month daily average of about 10 million.
Brinks is down nearly -19% on following clean miss on EPS and revenue estimates for the fourth quarter. Nearly 1.1 million shares have traded by mid-day, compared with a daily average of about 257,000.
Abercrombie and Fitch shares are down nearly -12% following a weak sales report and a forecast that missed estimates by a mile (more coverage here). More than 11 million shares have already traded this morning, compared with a 3-month daily average of about 3.3 million shares.
At about 1:00 p.m., the DJIA is down -0.15% at about 12,697, the Nasdaq is up 0.26% at around 2,856, and the S&P 500 is up 0.02% at about 1,324.
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.