The markets are down this morning after a small rebound yesterday on news that the Greek Debt Crisis may escalate and weak manufacturing data. Moody’s Investors Service said it is possible they may cut ratings of French banks due to the banks exposure to Greek debt. For the first time since November the New York Federal Reserves Empire State manufacturing index fell below zero. This index is used as an early indicator of manufacturing conditions throughout the U.S. There are several stocks that are outperforming the markets lets take a look at a few.
NF Energy Saving Corporation (Nasdaq:NFEC) shares are up 77% this morning to $4.10 per share with an intraday high of $4.82. Volume has increased for NFEC as nearly 400K shares have been traded this morning. NF Energy Saving corp has announced its upcoming annual stockholders meeting on June 27, 2011. During the meeting shareholders will have a chance to elect eight new board of director members and ratify the selections of board members for the companies independent accounting firm.
Rare Element Resources Ltd. (AMEX:REE) shares have climbed 12% to $11.10 per share this morning. Volume has been trading fairly heavy this morning and is looking to surpass its average daily volume of shares traded. The jump in REE is due to the announcement that they have upgraded and increased its mineral estimate of Rare-earth elements located in the Bear Lodge project in Wyoming. The upgrades increases the amount of previous estimates by nearly 20%.
DST Systems, Inc. (NYSE:DST) shares are on the move this morning rising 14% to $55.14 with an intraday high of $59.39. the large increase in DST shares comes on news that several private equity firms have inquired about a possible purchase of the data processing company. Offers have been reported to be in the mid $60s per share range. One firm was RDG Capital whose founder Russell Glass said he was rebuffed by DST management who stated they did not want to sell while the company was what they considered grossly undervalued.