The market managed to get out of negative territory in morning trading thanks to better than expected ISM numbers. The ISM’s non-manufacturing index climbed to 55.1 in September, about 2 points higher than what economists had expected. Private sector employment also saw a better than expected jump in last month with employers adding 162,000 jobs. Most economists were expecting private sector employment to add 143,000.
The major stock averages are up slightly after being negative earlier today. The Dow is up 3 points, the Nasdaq is up 7 points and the S&P 500 is up 1 point.
Biolase, Inc. (NASDAQ:BIOL) is up 28.91% this morning at $2.1399. BIOL is seeing extremely heavy volume today with 1.5 million shares traded, well above its daily average of 74 thousand shares. BIOL shares are up today after receiving FDA clearance and CE Mark approval for its EPIC 10 diode soft tissue laser. The company has a market cap of 67.79 million.
Ocwen Financial Corp. (NYSE:OCN) is up 17.85% today at $34.15. OCN has traded 3.7 million shares so far today, well above its daily average of 1.5 million shares a day. Ocwen announced today it will buy Homeward Residential for $750 million. The company has a market cap of 4.62 billion.
BioLineRx, Ltd. (NASDAQ:BLRX) is up 16.48% today at $3.04. BLRX has traded 308 thousand shares so far today, 10 times its daily average. Aegis Capital initiated coverage on BioLineRx yesterday with a buy rating. The company has a market cap of 53.52 million.
InterMune Inc (NASDAQ:ITMN) is up 9.15% in early trading at $9.66. ITMN has traded 964 thousand shares so far today and trades 1.1 million shares a day on average. Canadian regulators approved Espriet for use in treating idiopathic pulmonary fibrosis. The company has a market cap of 632.42 million.
Netflix, Inc. (NASDAQ:NFLX) is up 7.01% today at $60.42. NFLX is seeing heavy volume today with 3.7 million shares traded already today and averages just over 5 million shares a day. NFLX shares are rallying thanks to Citi reiterating their buy rating on the stock. Citi also said the conducted a consumer survey that showed overall customer satisfaction with the company. The company has a market cap of 3.36 billion.
Stratasys Inc. (NASDAQ:SSYS) is up 6.58% this morning at $60.27. SSYS has traded 364 thousand shares so far today and trades 609 thousand shares a day on average. Stratsys agreed to extend its merger deal deadline with Objet to October 19. The company has a market cap of 1.28 billion.
About Kyle Pinder
