There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Minefinders Corp. Ltd. (AMEX: MFN), PetMed Express Inc. (NASDAQ: PETS), Ur Energy Inc. (AMEX: URG), Columbia Laboratories Inc. (NASDAQ: CBRX), and Twin Disc Inc. (NASDAQ: TWIN).
After the first half-hour of trading, Minefinders is up nearly 26%. Volume is already more than double the daily average of about 700,000 shares traded. The Canadian silver miner is being acquired by Pan American Silver Corp. (NASDAQ: PAAS) for CDN$1.5 billion.
PetMed is up more than 14% at $12.87. Volume is already 3x the daily average of 222,000 shares traded. The pet supply company reported quarterly earnings that beat expectations.
Ur Energy is up more than 7% at $1.14. Volume is about one-third the average daily volume of 368,000 shares traded. The junior uranium miner has signed a multi-year contract to provide 200,000 pounds of uranium concentrate annually to a North American utility company. The contract sales begin in 2013.
Columbia Laboratories is down more than -55% at $0.70 after posting a new 52-week low of $0.65. Volume is more than 4x higher than the daily average of about 1.13 million shares traded. The drug company’s progesterone vaginal gel was not approved by a committee of the US FDA.
Twin Disc is down more than -17% at $32.61. Volume is already 3x the daily average of 136,000 shares traded. The machinery maker reported weak quarterly results and a lower backlog of orders.
Paul Ausick
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