The three major US equities indexes opened higher this morning as traders await an agreement on the still-pending Greek debt swap. The DJIA is about 13 points at about 12,891, the Nasdaq Composite is up about 9 points at about 2,913, and the S&P 500 is up more than 3 points at about 1,350.
There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include S&W Seed Co. (NASDAQ: SANW), Calix Inc. (NYSE: CALX), Computer Sciences Corp. (NYSE: CSC), Silicon Graphics International Inc. (NASDAQ: SGI), and Teekay Tankers Ltd. (NYSE: TNK)
After the first half hour of trading this morning, S&W seed is up nearly 26% at $5.82 after posting a new 52-week high of $6.19 earlier. Volume is about already about 40x the daily average of about 12,500 shares traded. The seed supplier reported better-than-expected earnings this morning.
Calix is up about 35% at $11.59. Volume is already equal to the daily average of about 360,000 shares traded. The broadband communications provider beat earnings expectations last night.
Computer Sciences is up nearly 25% at $32.99. Volume has already surpassed the daily average of about 2.4 million shares traded. The enterprise software company reported a loss for its third quarter on writedowns, but adjusted EPS handily beat expectations.
SGI is down more than -24% at $10.88. Volume is about 7x the daily average of 540,000 shares traded. The high-performance computer maker posted weak quarterly earnings and cut its forecast for the full year.
Teekay Tankers is down more than -12% at $3.98. Volume is already about 10x the daily average of about 512,000. The shipping company this morning priced a secondary stock offering of 15 million shares at $4/share.
Paul Ausick
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