Among the major movers at around noon today are American Realty Trust Inc. (NASDAQ: ARCT), Pegasystems Inc. (NASDAQ: PEGA), Cenveo Inc. (NYSE: CVO, Tudou Holdings Inc. (NASDAQ: TUDO), and FriendFinder Networks Inc. (NASDAQ: FFN).
American Realty is up 67% at $10.00. Volume is already 2.4 million shares traded. The commercial real estate company came public this morning at $6/share, along with a tender auction to purchase up to $220 million worth of shares at a price not higher than $11/share and not less than $10.50/share.
Pegasystems is up more than 28% at $36.08. Volume is already more than 5x the daily average of 241,000 shares traded. The business software maker beat earnings estimates last night.
Cenveo is up nearly 26% at $4.91. Volume is already more than 4x the daily average of around 420,000 shares traded. The printing company reported better-than-expected earnings last night, and has kicked off a tender offer to redeem about $460 million in debt.
Tudou is down more than -15% at $13.57. Volume is already about 4x the daily average of around 44,000 shares traded. The Chinese online video company reported better-than-expected revenues last night, but soaring costs led to a net loss.
FriendFinder Networks is down nearly -12% at $1.80. Volume is already about 80% of the daily average of around 680,000 shares traded. The adult social networking company’s credit rating was cut this morning by S&P.
Paul Ausick
Top Gaining Stocks
Top Losing Stocks