Stocks are up today with the Dow hitting multi year highs thanks to an unexpected drop in the unemployment rate. According to the Labor Department, employers added 114,000 jobs in September with the unemployment rate dropping to 7.8%. This is the first time the unemployment rate has dipped below 8% in nearly 4 years. The jobs number slightly exceeded expectations with economists forecasting 113,000 jobs in September.
The major stock averages are reacting positively to the news with the Dow up 54 points, the Nasdaq up 9 points and the S&P 500 up 5 points.
Hot Stocks
Primero Mining Corp. (NYSE:PPP) is up 30.74% today at $7.06. PPP has traded 5.1 million shares so far today, well above its daily average of 360 thousand shares. PPP shares are up today thanks to a positive ruling from Mexican tax authorities on how it reports silver revenue. The company has market cap of 623.99 million.
Life Partners Holdings, Inc. (NASDAQ:LPHI) is up 18.83% today at $2.65. LPHI has traded 1.1 million shares so far today, well above its daily average of 412 thousand shares. LPHI shares are heading back up after pulling back following its run up on ruling that settlements are not securities. The company has a market cap of 49.04 million.
Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) is up 16.10% today at $6.78. SNSS has traded 1.6 million shares so far today, more than double its daily average. SNSS shares are up more than 110% over the past month. The company has a market cap of 310.18 million.
Xenoport, Inc. (NASDAQ:XNPT) is up 10.04% today at $12.27. XNPT has traded 463 thousand shares so far today, slightly above its daily average of 446 thousand shares. XNPT shares are up today after the company reported positive preliminary phase 1 trial results of XP23829. The company has a market cap of 526.48 million.
WisdomTree Investments, Inc. (NASDAQ:WETF) is up 9.45% today at $6.95. WETF has traded 653 thousand shares so far today, well above its daily average of 127 thousand shares. The company has a market cap of 852.98 million.
VeriFone Systems, Inc. (NYSE:PAY) is up 7.23% today at $31.73. PAY has traded 5.2 million shares so far today, well above its daily average of 3.1 million shares. PAY started seeing heavy upside volume late yesterday and has jumped $3 a share since yesterday afternoon. The company has a market cap of 3.41 billion.
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