Stocks are trading lower on Thursday as a series of economic reports came in below expectations. The Philadelphia Fed index, a strong barometer of demand, posted a weak reading of -16.6. Weekly jobless claims fell slightly but the four week moving average hit a 2012 high. Jobless claims fell to a seasonally adjusted 387,000 after last week’s figure was adjusted higher to 389,000. Economists were expecting jobless claims to fall to 380,000. Sign Up For Free Stock Alerts
The three major indexes are down this morning with the Dow down 36 points, the Nasdaq is down 18 points and the S&P 500 is down 6 points.
Eagle Bulk Shipping, Inc. (NASDAQ:EGLE) is up 45% this morning at $4.3210. EGLE has traded 707 thousand shares so far today, 3 times its average volume. EGLE shares are up today as the company reaches agreement with lenders. The company has a market cap of 67.73 million.
Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX) is up 39.77% today at $62.26. ONXX has traded 15.04 million shares this morning, 15 times its average volume. ONXX shares are rallying this morning as the FDA votes in favor of the Onyx’s new myeloma drug. The company has a market cap of 3.96 billion.
Sun Healthcare Group, Inc. (NASDAQ:SUNH) is up 36.16% today at $8.36. SUNH has traded 16.9 million shares so far today, well above its daily average of 318 thousand shares. SUNH shares are trading higher today on buyout report. The company has a market cap of 213.31 million.
Chelsea Therapeutics International Ltd. (NASDAQ:CHTP) is up 24.81% today at $1.6350. CHTP has traded 2.9 million shares so far today, double its average volume. CHTP shares are up on positive clinical data. The company has a market cap of 107.94 million.
Rite Aid Corp. (NYSE:RAD) is up 7.61% today at $1.2590. RAD has traded 7.4 million shares so far today and trades 11.5 million shares a day on average. RAD shares are up today as its first quarter loss shrank on increase in same-store sales and improved margins. The company has a market cap of 1.13 billion. Sign Up For Free Stock Alerts
MannKind Corp. (NASDAQ:MNKD) is up 9.01% today at $2.1803. MNKD has traded 2.1 million shares so far today, 700 thousand shares more than its daily average. The company has a market cap of 341.45 million.