Shortly after noon ET today, all three major US stock indexes are showing gains, with the DJIA up more than 24 points at about 13,009, the Nasdaq up nearly 12 points at 2,969, and the S&P 500 up nearly 5 points to 1,368. After opening higher this morning, markets rebounded from an early dip following a better-than-expected reading on consumer confidence and a bullish report on US new home sales. The dollar is weaker today, with the dollar index down -0.37% at 78.342. The weaker dollar is pushing some commodities down, with precious metals losing the most.
Among the major movers at around noon today are Chelsea Therapeutics International Inc. (NASDAQ: CHTP), Bazaarvoice Inc. (NASDAQ: BV), Kenneth Cole Productions Inc. (NYSE: KCP), Rubicon Technology Inc. (NASDAQ: RBCN), and Kindred Healthcare Inc. (NYSE: KND).
Chelsea Therapeutics is up more than 58% at $3.82. Volume is at mid-day is about 13x the daily average of about 1.2 million shares traded. The drug maker yesterday received an FDA panel approval for a drug to treat symptoms of Parkinson’s disease.
Bazaarvoice is up about 39% at $16.62. Today is the social commerce site’s IPO and trading volume has topped 6.7 million on an original issue of about 9.5 million shares at $12/share. More coverage here and here.
Kenneth Cole Productions is up more than 19% at $15.58 after posting a new 52-week high of $16.00 earlier. Volume is already about 60x the daily average of 24,000 shares traded. The apparel maker is being taken private at $15/share. More coverage here.
Rubicon is down nearly -18% at $10.00. Volume at mid-day is 5x the daily average of around 440,000 shares traded. The LED maker missed estimates and offered weak guidance for the current quarter.
Kindred Healthcare is down nearly -15% at $10.65. Volume is about 3x the daily average of around 705,000 shares traded. The healthcare services company posted a loss last night and announced that it would not renew 7 of 10 master leases with Ventas Inc. (NYSE: VTR).
Paul Ausick
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