Not even Wal Mart can save the market today which is heading for yet another loss. Macro data from the Philly Fed and the ongoing Europe struggles continue to weigh on the market. The IMF just released a statement saying that the ECB may need to do more to shore up confidence and the markets.
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One piece of good news came from jobless claims. They held steady at 370k after being revised up slightly from the week prior. Still shows that the labor market is anemic but it is not slumping just yet. Needless to say investors will be watching that gauge as we head into summer.
Currently the Dow is off 45 points, the Nasdaq 17 and the S&P 5.
Media General, Inc. (NYSE:MEG) is up 40.13% this morning at $4.40. MEG has traded 1.2 million shares today, above its daily average of 82 thousand shares. MEG shares are up on news that Berkshire Hathaway to buy Media General newspapers. The company has a market cap of 100.63 million.
Galena Biopharma, Inc. (NASDAQ:GALE) is up 17.60% today at $1.47. GALE has traded 3.9 million shares so far today, 700 thousand shares more than its daily average. GALE shares have rallied as much as $0.50 a share this week. The company has a market cap of 72.59 million.
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McEwen Mining Inc. (NYSE:MUX) is up 14.73% this morning at $2.5782. MUX has traded 1.4 million shares so far today and trades 2.5 million shares a day on average. MUX shares are bouncing back today after hitting a new 52 week low yesterday. The company has a market cap of 426.43 million.
Sears Holdings Corporation (NASDAQ:SHLD) is up 10.81% today at $56.37. SHLD has traded 1.7 million shares so far today, 200 thousand shares more than its daily average. Sears announced today it was spinning off its Canada stake to focus on its U.S. stores. The company has a market cap of 6 billion.
FriendFinder Networks Inc. (NASDAQ:FFN) is up 7.91% today at $1.2410. FFN has traded 853 thousand shares so far today, 300 thousand shares more than its daily average. FFN shares have rallied $0.20 a share this week. The company has a market cap of 39.95 million.
Array BioPharma, Inc. (NASDAQ:ARRY) is up 7.40% today at $3.90. ARRY has traded 1.4 million shares so far today, 600 thousand shares more than its daily average. ARRY stock is rising on results from its experimental lung cancer drug. The company has a market cap of 353.87 million.
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