Stocks are coming off their highs this morning with the S&P and Nasdaq about to turn negative. There is still a lot of uncertainty in the markets over the Europe situation, plus investors are waiting to hear the Fed’s assessment of the U.S. economy. The Dow is up 50 points right now, the Nasdaq is up 3 points and the S&P is up 4 points.
Here’s a handful of stocks that are deep in the red this morning.
Endocyte, Inc. (NASDAQ:ECYT) is down 62.39% this morning at $3.87. ECYT has traded 4.8 million shares so far today, way above its daily average of 160 thousand shares. ECYT stock fell this morning after the company the overall survival results for its drug were ‘inconclusive’. The company has a market cap of 136.88 million.
Ivanhoe Mines Ltd. (NYSE:IVN) is down 15.99% this morning at $17.39. IVN has traded nearly 5 million shares this morning, nearly twice its daily volume average. Ivanhoe is down today after they lost a legal battle with Rio Tinto. The company has a market cap of 12.82 billion.
China Medical Technologies Inc. (NASDAQ:CMED) is down 14.39% this morning at $2.80. CMED has traded 369 thousand shares so far this morning and trades 556 thousand shares a day on average. CMED is down this morning after the company announced it plans to implement debt restructuring. China Medical has a market cap of 74.19 million.
K12, Inc. (NYSE:LRN) is down 11.98% in early trading at $25.46. LRN has traded 924 thousand shares this morning, 3 times its daily average volume. LRN has been rallying most of the month from $24 a share to over $28 before falling today. K12 Inc. has a market cap of 892.04 million.
Alimera Sciences, Inc. (NASDAQ:ALIM) is down 12.29% this morning at $1.57 ALIM has traded 570 thousand shares this morning, 260 thousand more shares than it trades a day on average. ALIM stock is pulling back after rising nearly $0.50 over the past 2 trading days. The company has a market cap of 49.65 million.
Forest Oil Corp. (NYSE:FST) is down 10.63% in early trading at $14.36. FST has traded 4.2 million shares so far today and trades 5.2 million shares a day on average. Forest Oil announced it has budgeted $550 million to $600 million for capital projects next year. The company also announced it’s projecting annual organic growth of 5% to 6% for net sales volumes next year. The company has a market cap of 1.63 billion.