Market Recovering Slightly In Midday Trading: QRM, BCRX, XOMA, FOSL, CIS, INFY, STP, PMC

Stocks are recovering in midday trading with the Nasdaq turning positive now. The jobs numbers did hurt the market for a little while but most economists and investors expected an uptick in jobless claims as stores get rid of holiday workers. Things in Europe seem to be looking better after successful auctions in Spain and Italy. New government leaderships in Italy and Spain have helped give investors confidence overseas. The Dow is down just 13 points right now, the Nasdaq is up 5 points and the S&P is slightly positive.

Quest Rare Minerals Ltd. (AMEX:QRM) is up 19.61% in midday trading at $3.05. QRM has traded 863 thousand shares today after the company reported strong summer program drill results at its Strange Lake property. QRM shares are up more than $0.80 a share since late December. Quest Rare Minerals has a market cap of 185.81 million.

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) is up 13.15% today at $2.84. BCRX has traded 681 thousand shares today, nearly 6 times its daily average. BCRX shares have been trending higher today after announcing positive results from its ongoing BCX4208 Phase 2B study in patients with gout. The company has a market cap of 127.09 million.

XOMA Corporation (NASDAQ:XOMA) is up 14.02% in midday trading at $1.7901. XOMA has traded double its average volume with 455 thousand shares. XOMA has been trending higher since Jan. 5 when XOMA announced it will cut 34% of personnel and take a one time charge of $6 million. XOMA described this move as “streamlining operations to invest in value-creating activities.” The company has a market cap of 63.14 million.

Fossil, Inc. (NASDAQ:FOSL) is up 8.11% today at $85.81. FOSL has traded 2.4 million shares so far today and trades 1.2 million shares a day on average. Fossil announced in an 8-K yesterday they entered into a purchase agreement with Skagen Designs, Ltd. The company has a market cap of 5.37 billion.

Camelot Information Systems (NYSE:CIS) is down 11.47% in midday trading at $2.1690. CIS has traded 683 thousand shares today, 100 thousand shares more than its daily average. CIS has been getting hit by multiple class action lawsuits accusing the company of issuing materially false and misleading statements about the company’s business. The company has a market cap of 92.61 million.

Infosys Limited (NASDAQ:INFY) is down 9.41% today at $51.51. INFY shares are falling today after fourth quarter guidance misses expectations. INFY is seeing massive selling pressure today with 5.1 million shares traded, 4 times its daily average volume. The company has a market cap of 29.27 billion.

Suntech Power Holdigns Co., Ltd. (NYSE:STP) is down 4.60% in midday trading at $3.11. STP has traded 5.2 million shares today, close to double its average volume. STP is pulling back today after solar stocks across the board rallied big yesterday. The company has a market cap of 557.91 million.

Pharmerica Corporation (NYSE:PMC) is down 7.21% today at $13.88. PMC has traded 1.4 million shares so far today, 4 times its daily average. PMC shares are down after a report that FTC is blocking a deal between Onmicare and PharMerica. The company has a market cap of 409.50 million.

written by

An avid market watcher, Martin enjoys the tech arena the most with the Nasdaq being his main area of focus. A finance major, Martin is working to the goal of one day ringing the bell at the NYSE.
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