There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Metabolix Inc. (NASDAQ: MBLX), JDA Software Group Inc. (NASDAQ: JDAS), Diamond Foods Inc. (NASDAQ: DMND), Georgia Gulf Corp. (NYSE: GGC), and Rovi Corp. (NASDAQ: ROVI).
After the first half hour of trading, Metabolix is down nearly -55% at $2.70 after posting a new 52-week low of $2.58 earlier. Volume is already 20x the daily average. The bioscience and chemicals company is suffering from the cancellation of a joint venture with Archer Daniels Midland Co. (NYSE: ADM), which the larger company unexpectedly announced this morning.
JDA Software is down nearly -13% at $28.58. Volume is already nearly double the daily average. The enterprise software maker missed revenue estimates when it reported preliminary numbers for the fourth quarter.
Diamond Foods is down more than -8.5% at $30.29. Volume is heavy, at about 50% of the daily average already trading hands. The snack food maker is now the subject of a criminal inquiry related to payments it made to farmers.
Georgia Gulf is up more than 35% at $33.18. Volume is already 5x the daily average. The chemical and home products maker has received a buyout offer of about $1.03 billion ($30/share) from Westlake Chemical Corp. (NYSE: WLK).
Rovi is up more than 10% at $30.40. Volume is already more than half the daily average. The maker of Roxio software was maintained as a ‘buy’ with a $63 target price by Canaccord Genuity, which discounts any major change following the appointment of a new CEO.
Paul Ausick
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