The three major US equities indexes opened higher this morning following a reported drop in new claims for unemployment benefits. The US producer price index rose pretty much in-line with expectations (more coverage here) and the Empire State manufacturing index came in better than expected (more coverage here). The dollar is slightly weaker today, down -0.18% this morning at 80.421. The DJIA is down more than 2 points at around 13,192, the Nasdaq Composite is up about 8 points at around 3,049, and the S&P 500 is down less than 1 point at around 1,394.
There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Scholastic Corp. (NASDAQ: SCHL), Towerstream Corp. (NASDAQ: TWER), Coffee Holding Co. Inc. (NASDAQ: JVA), Eagle Bulk Shipping Inc. (NASDAQ: EGLE), and Flamel Technologies SA (NASDAQ: FLML).
Scholastic Corp. is up more than 20% at $38.75 after posting a new 52-week high of $40.17 earlier today. Volume is already more than 3x the daily average of about 178,000 shares traded. The children’s media company raised its 2012 guidance.
Towerstream is up nearly 22% at $3.17. Volume is already about 3x the daily average of about 337,000 shares traded. The 4G wireless provider reported better-than-expected earnings after markets closed yesterday.
Coffee Holding Co. is up more than 16% at $13.87. Volume is already more than double the daily average of around 533,000 shares traded. The coffee wholesaler continues to attract buying on its strong earnings report last week.
Eagle Bulk Shipping is down about -9% at $1.64. Volume is already about one-third the daily average of around 975,000 shares traded. The dry bulk shipper reported a narrower-than-expected loss yesterday, but shipping companies still face a terrible year.
Flamel Technologies is down more than -19% at $6.18. Volume is already more than double the daily average of around 158,000 shares traded. The French-based biopharmaceutical company has acquired Eclat Pharmaceuticals and Eclat’s CEO will take over the combined company.
Paul Ausick
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
