The three major US equities indexes opened higher this morning following an in-line report fromn ADP on employment. The dollar is gaining strength even though the dollar index is down slightly, at -0.03% this morning at 79.839. The DJIA is up nearly 30 points at around 12,789, the Nasdaq Composite is up 16 points at around 2,926, and the S&P 500 is up about 3.5 points at around 1,347.
There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include the Transcend Services Inc. (NASDAQ: TRCR), Discovery Laboratories Inc. (NASDAQ: DSCO), The Bon Ton Stores Inc. (NASDAQ: BONT), Pandora Media Inc. (NYSE: P), and Canadian Solar Inc. (NASDAQ: CSIQ).
Transcend Services is up nearly 40% at $29.27. Volume is already more than 12x the daily average of about 65,000 shares traded. The medical transcription service is being acquired by Nuance Communications Inc. (NASDAQ: NUAN) for $300 million in net cash ($29.50/share).
Discovery Laboratories is up nearly 26% at $4.71. Volume is already around 12x the daily average of about 656,000 shares traded. The drug maker has received FDA approval for a respiratory drug to treat premature infants.
Bon Ton Stores is up about 28% at $6.72. Volume is already about 3x the daily average of around 240,000 shares traded. The retailer reported lower-than-expected earnings and revenues, but its forecast is above expectations.
Pandora Media is down more than -24% at $10.83. Volume is already about about 5x the daily average of around 2.1 million shares traded. The Internet radio company posted worse than expected earnings last night. More coverage here.
Canadian Solar is down about -12% at $2.90. Volume is already about equal to the daily average of around 1.3 million shares traded. The solar panel maker reported very poor earnings this morning and its outlook is also weak. More coverage here.
Paul Ausick
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
