There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include RAM Energy Resources Inc. (NASDAQ: RAM), WCA Waste Corp. (NASDAQ: WCAA), Akamai Technologies Inc. (NASDAQ: AKAM), American Greetings Corp. (NYSE: AM), ARCA biopharma Inc. (NASDAQ: ABIO), and Vivus Inc. (NASDAQ: VVUS).
After the first half hour of trading this morning, RAM Energy is up nearly 57% at $1.73 Volume is approaching 2 million shares. The independent oil & gas company has today relisted on the NASDAQ and has also announced a $550 million investment from a private equity firm headed by the former chairman and CEO of Petrohawk.
WCA is up nearly 30% at $6.38, after posting a new 52-week high of $6.43. Volume is already more than 40x the daily average. The non-hazardous waste processor has approved a cash buyout offer for $526 million ($6.50/share) from a private investment fund.
Akamai is up more than 15% at $30.75. Volume is already about 75% of the daily average. The internet technology company has agreed to acquire cloud-based software company Cotendo for $268 million in cash.
American Greetings is down nearly -20% at $13.63 after posting a new 52-week low of $13.06. Volume is already more than double the daily average. The greeting card company missed earnings estimates this morning.
ARCA biopharma is down nearly -23% at $1.04 after posting a new 52-week low of $0.79. Volume is already about double the daily average. The biopharmaceutical firm announced a private placement of $1.75 million in stock and warrants.
Vivus is down more than -15% at $8.80. Volume is already nearly double the daily average. The biopharmaceutical firm announced that its weight-loss drug Qnexa led to a higher rate of birth defects in children whose mothers were taking the drug during pregnancy.
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Paul Ausick
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