Morning Movers (ARCT, PEGA, JRCC, SHS, TUDO)
The three major US equities indexes opened higher this morning after another (small) drop in new unemployment benefits claims and a good, but smaller-than-expected, rise in personal income and spending data (our coverage here). The lower-than-expected ISM manufacturing data weighed…
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There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include the American Realty Trust Inc. (NASDAQ: ARCT), Pegasystems Inc. (NASDAQ: PEGA), James River Coal Co. (NASDAQ: JRCC), Sauer-Danfoss Inc. (NYSE: SHS), and Tudou Holdings Inc. (NASDAQ: TUDO).
American Realty is up more than 67% at $10.05. Volume is already nearly 1 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 nearly 29% at $36.14. Volume is already about 4x the daily average of 241,000 shares traded. The business software maker beat earnings estimates last night.
James River Coal is up more than 15% at $6.61. Volume is already about 1.5x the daily average of around 2.4 million shares traded. The coal miner reported weaker-than-expected results, but forecast higher production for the current year..
Sauer-Danfoss is down more than -12% at $47.42. Volume is already nearly 1.5x the daily average of around 190,000 shares traded. The machinery maker reported lower profits last night.
Tudou is down nearly -13% at $13.98. Volume is already more than 3x 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.
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.