There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Vringo Inc. (NASDAQ: VRNG), FriendFinders Network Inc. (NASDAQ: FFN), RadioShack Corp. (NYSE: RSH), Meritage Homes Corp. (NYSE: MTH), and Parexel International Inc. (NASDAQ: PRXL)
After the first 45 minutes of trading this morning, Vringo is up more than 46% at $1.70. Volume is nearly 20x the daily average of about 65,000 shares traded. The social media software maker is apparently basking in the glow of the coming IPO of Facebook. See our coverage here.
FriendFinders is up more than 30% at $1.38. Volume is already about 4x the daily average of about 213,000 shares traded. The adult social media company is likely also being bought up on the prospective Facebook IPO.
RadioShack is down more than -28% at $7.35 after posting a new 52-week low of $7.15 earlier. Volume is already 9x the daily average of about 2.6 million shares traded. The electronics retailer pre-announced quarterly earnings this morning and the outlook for gross margins is killing the stock. See more coverage here.
Meritage is down more than -8% at $24.96. Volume has already nearly equaled the daily average of about 456,000 shares traded. The homebuilding company reported a larger quarterly loss this morning.
Parexel is up more than 14% at $23.35. Volume is already more than double the daily average of about 421,000 shares traded. The pharmaceutical maker guided next quarter earnings above consensus estimates.
Paul Ausick
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