Stocks continue lower today after the U.S. GDP was revised lower to 2% from 2.5%. The crisis in Europe continues as well as investors fear a collapse if the ECB doesn’t act sooner. At 11:00am EST the Dow is down 83 points, the Nasdaq is down 18 points and the S&P is down 8 points.
Frontline Ltd. (NYSE:FRO) is down 42.39% at $2.99 this morning. FRO has traded 8.1 million shares so far today, well above its daily average of 2.4 million shares. The company is in talks to overhaul their finances. FRO has dipped the past two days from over $5.50 to less than $3. The company has a current market cap of 234.35 million.
Overseas Shipholding Group Inc. (NYSE:OSG) is down 17.72% at $10.35 this morning. OSG continued its drop from yesterday, dropping more than $3 in two days. OSG has traded 1.4 million shares so far today, double its average volume The company has a current market cap of 318.71 million.
Alcatel-Lucent, S.A. (NYSE:ALU) is down 13.71% today at $1.61. ALU has been dropping pretty much all month long after hitting a November high of around $2.76. The stock has traded 17.5 million shares so far today, 7 million shares short of its daily average. The company has a current market cap of 3.47 billion.
Chico’s FAS Inc. (NYSE:CHS) is down 16.88% at $9.65 this morning. The stock is down after the company announced their third quarter results this morning. Quarter three EPS was at $0.18 with analysts expecting $0.20. Shares of CHS are hitting a new 52-week low right now with over 6.2 million shares traded. The company has a current market cap of 1.67 billion.
Collective Brands, Inc. (NYSE:PSS) is down 14.16% at $11.76 this morning. PSS is down after analysts lowered price targets for the stock from $18 to $16. PSS has traded 5.5 million shares so far today, more than double its daily average. The company has a current market cap of 722.88 million.
Perfect World Co., Ltd. (NASDAQ:PWRD) is down 12.13% at $10.00 in morning trading. PWRD released quarterly earnings that were below analysts expectations. The company’s revenue climbed 22% to $111.2 million. Its EPS was $0.53 though, well short of the $0.67 analysts were expecting. PWRD has traded 1.4 million shares so far today, 600 thousand more than its daily average. The company has a current market cap of 496.81 million.