Afternoon Movers: NLST, FFN, SMSI, ASTX, CBM, ACHN

The market continues to edge higher with about 30 minutes left in the trading day. Stocks began the day lower as investors worry about Greece’s debt problems. These worries quickly faded following Ben Bernanke’s statement that the Fed will protect the U.S. from Europe’s problems. The Dow is currently up 55 points, the Nasdaq is up 4 points and the S&P is up 4 points.

Netlist, Inc. (NASDAQ:NLST) is up 10.11% this afternoon at $4.14. NLST has traded 2.2 million shares today, above its daily average of 879 thousand shares. NLST shares have been trending higher since Friday and are up close to $1 since then. The company has a market cap of 105.40 million.

FriendFinder Networks Inc. (NASDAQ:FFN) is up 15.32% today at $1.47. FFN has traded 1.8 million shares today, way above its daily average of 369 thousand shares. FFN shares are bouncing after the stock dipped from $1.40 to $1.20 the past couple of days. The company has a market cap of 44.96 million.

Smith Micro Software, Inc. (NASDAQ:SMSI) is up 13.47% this afternoon at $2.4850. SMSI has traded 2.6 million shares so far today, 5 times the stock’s average volume. SMSI shares have been trending higher since Monday and are up about $0.60 this week. The company has a market cap of 89.09 million.

Astex Pharmaceuticals, Inc. (NASDAQ:ASTX) is down 21.15% today at $2.20. ASTX is down on heavy volume today with 2.6 million shares traded so far. ASTX shares are dipping today after the FDA questions the company’s only approved drug after it didn’t show a benefit for an expanded use. The company has a market cap of 202.48 million.

Cambrex Corporation (NYSE:CBM) is down 15.21% this afternoon at $6.80. CBM has traded 1.2 million shares today, 4 times its daily average. CBM shares are down today after the company missed EPS estimates by $0.02 for their fourth quarter results. The company has a market cap of 198.74 million.

Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) is down 12.36% today at $10.14. ACHN has traded 4 million shares so far today, more than 3 times its daily average. ACHN shares dipped today after the stock was downgraded by Bank of America to underperform from buy. The company has a market cap of 716.26 million.

written by

Rachel Brook is an up and coming financial writer focusing on commodity price inflation and how the overall market reacts to the price swings. She also covers emerging markets in Africa and SE Asia.
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