Morning Movers (VRML, HNR, XOMA, ONTY, ZLTQ)
The three major US equities indexes opened sharply lower this morning as there has been no news to counteract the weak economic projections that came out yesterday. The projected -0.3% contraction in eurozone GDP coupled with a slowdown of GDP…
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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 Vermillion Inc. (NASDAQ: VRML), Harvest Natural Resources Inc. (NYSE: HNR), XOMA Corp. (NASDAQ: XOMA), Oncothyreon Inc. (NASDAQ: ONTY), and Zeltiq Aesthetics Inc. (NASDAQ: ZLTQ).
Vermillion is up about 45% at $4.13. Volume is already nearly 10x the daily average of about 117,000 shares traded. The medical device maker received a code-change approval from the American Medical Association that incorporates one of the company’s devices.
Harvest Natural Resources is up nearly 31% at $8.19. Volume is already nearly double the daily average of about 490,000 shares traded. The independent oil & gas company has reported production growth at its Venezuelan fields and that it has begun discussions for a sale of its Venezuelan assets.
XOMA is up about 31% at $1.90. Volume is already about 15x the daily average of around 350,000 shares traded. The biopharmaceutical firm has announced pricing on a share offer of around 29.7 million shares and warrants.
Oncothyreon is down nearly -35% at $5.49. Volume is already about about 6x the daily average of around 1 million shares traded. The biopharma company reported a significant fourth-quarter EPS miss this morning..
Zeltiq is down about -31% at $7.65 after posting a new 52-week low of $7.55 earlier. Volume is already about 4x the daily average of around 185,000 shares traded. The medical technology company posted a dismal fourth-quarter earnings report this morning.
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.