Today's Market Winners and Losers
Stocks are mixed today, with the Dow Jones Industrial Average is up 0.11%, the Nasdaq down 0.43% and the S&P 500 down 0.18% as of late morning. The big trading occurs on the losing side though. Sales estimates were cut for a medical device and data storage company, while another coal company is getting the brunt of Patriot Coal’s bankruptcy.
Here are today’s market winners and losers.
Shares of BioMimetic (NASDAQ: BMTI) are up 21.43% to $3.40 on trading volume of 1.1 million shares. The company announced Monday it has submitted additional data to the Food and Drug Administration for approval for its bone graft prodcts. The 52-week high is $5.17.
Shares of MagicJack (NASDAQ: CALL) are up 14.91% to $21.50 on trading volume of 1 million shares. The Internet phone company said it will likely post a profit 48 cents to 52 cents a share for the quarter ended June 30, up from 43 cents a share previously projected. The 52-week high is $28.22.
Shares of MAKO Surgical (NASDAQ: MAKO) are down 39.25 to $14.95 on trading volume of 13 million shares. The medical device company cut its sales forecast for the second time in three months for its orthopedic robotic arm system. Between 42 and 48 are expected to be sold this year, down from as much as 62 projected before May. Before Tuesday, the 52-week low was $20.90.
Shares of Quantum (NYSE: QTM) are down 23.81% to $1.60 on trading volume of 3.7 million shares. The data storage company announced it will likely miss street estimates for the quarter ended June 30. It will likely lose 3 to 4 cents a share, while Wall Street analysts expected the company to break even. The 52-week low is $1.54.
Shares of James River Coal (NASDAQ: JRCC) are down 21.94% to $2.24 on trading volume of 4.1 million shares. This drop comes as rival Patriot Coal (NYSE: PCX) filed for bankruptcy Monday after the company due to low demand for coal because of low natural gas prices. The company is still off of its 52-week low of $1.90,but well off its high of $22.