At about noon today, the three major equity indexes have all turned negative. The DJIA is down about 49 points at about 12,829, the Nasdaq is down about 8 points at around 2,896, and the S&P 500 is up nearly 3 points to 1,344. No news out of Europe that Greece has closed a deal on its debt swap has weighed on European indexes as well. The dollar is gaining strength against the euro, the British pound, and the Japanese yen, and the dollar index is up 0.200% at 78.710, a sharp rise since US markets opened this morning.
Among the major movers at around noon today are Ceasars Entertainment Corp. (NASDAQ: CZR), S&W Seed Co. (NASDAQ: SANW), Calix Inc. (NYSE: CALX), Powell Industries Inc. (NASDAQ: POWL), and NeuroMetrix Inc. (NASDAQ: NURO).
Ceasars began trading as a public company today, with an issue of 1.8 million shares going out at $9/share. About 6.6 million shares have been traded hands so far today. Shares are trading up nearly 90% at $18.89. We have more coverage here.
S&W Seed is up more than 27% at $5.85 after posting a new 52-week high of $6.19 earlier. Nearly 1 million shares have traded this morning, compared with a 3-month daily average of around 12,500. The seed supplier reported better-than-expected earnings this morning.
Calix is up nearly 27% at $10.90. About 1.8 million shares have traded this morning, compared with a 3-month daily average of about 360,000. The broadband communications provider beat earnings expectations last night.
Powell Industries is down more than -14% at $32.84. About 127,000 shares have traded by mid-day, compared with a daily average of about 44,000. The electrical equipment maker posted a quarterly EPS loss when a sizable gain was expected and announced a forecast lower than had been expected.
NeuroMetrix shares are down more than -18% at $0.94, a new 52-week low. More than 310,000 shares have already traded this morning, compared with a 3-month daily average of about about 20,000 shares. The medical device maker priced a secondary offering of 10.5 million shares at $1/share this morning.
Paul Ausick
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