There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include the Jingwei International Ltd. (NASDAQ: JNGW), Advance America, Cash Advance Centers Inc. (NYSE: AEA), Itron Inc. (NASDAQ: ITRI), PMFG Inc. (NASDAQ: PMFG), and Avis Budget Group Inc. (NYSE: CAR).
Jingwei is up nearly 43% at $2.07. Volume is already more than 25x the daily average of about 3,300 shares traded. The Chinese software company is being taken private.
Advance America is up more than 33% at $10.54 after posting a new 52-week high of $10.55. Volume is already about 40x the daily average of 495,000 shares traded. The cash advance provider is being acquired by Mexico’s Grupo Elektra for $10.50/share.
Itron is up more than 20% at $48.40. Volume is already about 3x the daily average of around 420,000 shares traded. The water and power meter maker is acquiring a smart-meter maker for about $100 million following a better-than-expected earnings report last night.
PMFG is down nearly -18% at $17.25. Volume is already about 20x the daily average of around 63,000 shares traded. The machinery maker has announced a secondary offering of 2.6 million shares at $16/share.
Avis is down more than -14% at $12.44. Volume is already nearly double the daily average of about 1.9 million shares traded. The car rental company posted an unexpected loss in the fourth quarter.
Paul Ausick
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