There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Euro Tech Holdings Co. Ltd. (NASDAQ: CLWT), Net 1 UEPS Technologies Inc. (NASDAQ: UEPS), Hovnanian Enterprises Inc. (NYSE: HOV), Majesco Entertainment Co. (NASDAQ: COOL), and State Street Corp. (NYSE: STT).
After the first half hour of trading, Euro Tech is up more than 23% at $3.15. Volume is already more than 5x the daily average of just 2,300 shares traded. The Hong Kong-based company has announced an 11-for-2 reverse stock split.
Net 1 UEPS is up more than 28% at $8.62. Volume is already higher than the daily average of 98,000 shares traded. The South African software maker has announced a 5-year deal with the government’s social security agency.
Hovnanian is up more than 9% at $2.33. Volume is already about half the average daily volume of 1.7 million shares traded. The homebuilder is likely reacting positively to the improvement in the outlook for homebuilders..
Majesco is down nearly -28% at $2.16. Volume is already double the daily average of about 1 million shares traded. The video game maker forecast higher sales and marketing costs in 2012.
State Street is down -8% at $39.33. Volume is already more than 50% of the daily average of 4.4 million shares traded. The financial services company’s earnings report did not meet expectations.
Paul Ausick
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