There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Infinity Pharmaceuticals Inc. (NASDAQ: INFI), Riverbed Technology Inc. (NASDAQ: RVBD), Solutia Inc. (NYSE: SOA), Informatica Corp. (NASDAQ: INFA), and Ford Motor Co. (NYSE: F).
After the first half-hour of trading, Infinity Pharmaceuticals is down more than -31% at $6.81. Volume is nearly 4x the daily average of about 64,000 shares traded. The drug maker has cancelled further trials of a pancreatic cancer drug that does not perform better than placebo.
Riverbed is down nearly -21% at $23.66. Volume is already nearly 3x the daily average of about 3.1 million shares traded. The networking technology company warned this morning that first-quarter sales growth would not meet previous expectations.
Solutia is up more than 41% at $27.56 after posting a new 52-week high of $57.85 earlier. Volume is already 12x the daily average of about 1.3 million shares traded. The specialty chemicals company has agreed to be acquired by Eastman Chemical Co. (NYSE: EMN) for $3.4 billion in cash and stock.
Informatica is up nearly 15% at $44.00. Volume has already exceeded the daily average of 1.7 million shares traded. The business software and services company has raised its outlook for the first quarter.
Ford is down more than -4% at $12.18. Volume is already about 80% of the daily average of about 54 million shares traded. The automaker missed earnings estimates this morning.
Paul Ausick
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