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Investing

Mid-day Movers (CRUS, ELX, PWRD, IPGP)

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By Paul Ausick Published
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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 Cirrus Logic Inc. (NASDAQ: CRUS), Emulex Corp. (NYSE: ELX), Perfect World Co. Ltd. (NASDAQ: PWRD), and IPG Photonics Corp. (NASDAQ: IPGP).

Cirrus is up more than 14% at $19.39. Volume is already 6x the daily average. The fabless chip maker reported better-than-expected earnings last night and raised revenue guidance for the current quarter.

Emulex is up nearly 14% at $8.42. Volume is nearly 3x the daily average. The server and networking company raised its second quarter revenue and EPS estimates last night.

Perfect World is up more than 15% at $10.19. Volume is already more than 5x the daily average. The Chinese online game developer has denied charges that it is being investigated by US and Chinese regulators.

IPG Photonics is up nearly 15% at $45.61. Volume is nearly 4x the daily average. The laser maker broke through its 50-day moving average of around $41/share earlier today.

Paul Ausick

Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.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.

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