Hot Stocks in Midday Trading: VRS, MOTR, THLD, MDVN, MWA, S, COH

Wall Street

Verso Paper Corp. (NYSE:VRS) is rallying 89.34% in midday trading at $2.31. Verso has seen heavy volume so far today and is trading nearly 10 times its average volume. The company announced late yesterday a proposed $345 million debt offering and commitments from lenders for new credit facilities. The company has a market cap of 122.31 million.

Motricity, Inc. (NASDAQ:MOTR) is up 14.02% today at $1.22. MOTR has traded 1.2 million shares so far today and trades 1.8 million shares on average. MOTR shares have jumped close to $0.25 over the past couple of days. The company has a market cap of 56.53 million.

Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) is up 16.07% in midday trading at $5.53. Threshold reported fourth quarter results earlier this morning. The company posted a smaller loss of $5.3 million in the fourth quarter then it did in the same quarter last year ($6.6 million). THLD is up on above average volume with 3.6 million shares traded, above its daily average of 2.2 million shares. The company has a market cap of 272.17 million.

Medivation, Inc. (NASDAQ:MDVN) is up 15.81% today at $74.33. MDVN is rallying on heavy volume today with 3.6 million shares traded. That is 6 times its average daily volume. Medivation is seeing a pop today after Johnson & Johnson’s prostate drug extends lives of men in a study. The company has a market cap of 2.65 billion.

Mueller Water Products (NYSE:MWA) is up 19.65% in midday trading at $3.41. MWA has tared 4.3 million shares so far today, more than double its average volume. Mueller Water announced it will sell U.S. pipe units causing shares to jump today. The company has a market cap of 530.56 million.

Sprint Nextel Corporation (NYSE:S) is up 5.76% today at $2.57. Sprint is seeing big volume today with 35.3 million shares traded. The stock trades 39.4 million during an entire trading day on average. There have been reports today and yesterday that Sprint will soon cut ties with LightSquared. Bloomberg News is reporting that Sprint will back out of a $9 billion network-sharing agreement with LightSquared. The company has a market cap of 7.70 billion.

Coach, Inc. (NYSE:COH) is up 5.63% today at $77.52. COH has traded 3.7 million shares so far today, well above its daily average of 2.7 million shares. COH shares are up today after the company stays with its long term sales goal of $500 million by 2014 in China. The company has a market cap of 22.40 billion.

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About Rachel Brook

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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