Mid-day Movers (ATPG, PEIX, LNG, DNDN, BCPC)

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By Paul Ausick Updated Published
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In the last half hour of the morning today, all three major US stock indexes pushed their way into positive territory, with the DJIA up nearly 4 points at about 13,987, the Nasdaq up more than 5 points at 2,969, and the S&P 500 up less than 1 point to 1,367. After opening sharply lower this morning, markets rebounded from an early dip following a better-than-expected report on pending home sales. The dollar is stronger today, with the dollar index up 0.19% at 78.548. The stronger dollar is pushing some commodities down, with grains losing the most.

Among the major movers at around noon today are ATP Oil & Gas Corp. (NASDAQ: ATPG), Pacific Ethanol Inc. (NASDAQ: PEIX), Cheniere Energy Inc. (AMEX: LNG), Dendreon Corp. (NASDAQ: DNDN), and Balchem Corp. (NASDAQ: BCPC).

ATP is up more than 21% at $8.63. Volume is already nearly 4x the daily average of about 1.7 million shares traded. The independent oil & gas company reported a fourth successful well at its Telemark Hub project.

Pacific Ethanol is up nearly 19% at $1.65. Volume is more than 3x the daily average of about 6 million shares traded. The ethanol maker is expected to report solid earnings and revenues after markets close today.

Cheniere is up about 12% at $15.72 after posting a new 52-week high of $16.25 earlier. Volume is already double the daily average of 5.6 million shares traded. The liquefied natural gas company announced an investment from Blackstone Group LP (NYSE: BX). More coverage here.

Dendreon is down nearly -18% at $12.20. Volume is already nearly triple the daily average of around 9 million shares traded. The drug maker reported lower-than-expected revenues this morning. More coverage here.

Balchem is down more than -11% at $31.67 after posting a new 52-week low of $31.24 earlier this morning. Volume is about 3x the daily average of around 130,000 shares traded. The chemical company reported weaker-than-expected earnings this morning.

Paul Ausick

Photo of Paul Ausick
About the Author Paul Ausick →

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.

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