Midday Movers as Market Turns South: BVSN, FST, LIVE, SWN, CBRX, TWIN, PAAS, CPY

The major indices have turned negative in midday trading as ongoing Greek debt talks and other issues in the euro zone debt crisis have investors on edge. The upcoming Fed meeting on Wednesday is also causing investors to be hesitant in the markets today. A lot of investors and analysts believe that a Greek default is inevitable, but financial ministers in the EU are discussing a second bailout for Greece. At midday the Dow is down 35 points, the Nasdaq is down 9 points and the S&P 500 is down 3 points.

Here’s a quick look at some of the biggest percentage movers so far today.

BroadVision, Inc. (NASDAQ:BVSN) is up 16.07% in midday trading at $31.34. BVSN is up on heavy volume with 758 thousand shares traded, more than six times its daily average. BVSN shares have climbed more than 200% since the start of the year with no major news. Some traders including Timothy Sykes believe this stock is being heavily pumped and will eventually have a big sell off. The company has a market cap of 138.79 million.

Forest Oil Corporation (NYSE:FST) is up 11.39% today at $14.38. FST has traded 3.6 million shares so far today and trades 4.2 million shares a day on average. FST shares are up today despite a downgrade from outperform to market perform by BMO Capital. The company has a market cap of 1.60 billion.

LiveDeal, Inc. (NASDAQ:LIVE) is up 15.54% in midday trading at $3.3620. LIVE is up on above average volume today with 314 thousand shares traded. The stock typically trades 95 thousand shares on any given day. LIVE gaped up this morning on heavy volume and opened at $3.34. The company has a market cap of 2.34 million.

Southwestern Energy Company (NYSE:SWN) is up 8.39% today at $31.90. SWN has traded double its average volume already today with 9.3 million shares traded. Natural gas companies are seeing a bounce today after Chesapeake Energy said it would cut gas production by 50% this year because of low natural gas prices caused by the warm winter. This news could cause other producers to take the same approach because of the the sharp dip in natural gas prices. The company has a market cap of 11.10 billion.

Columbia Laboratories, Inc. (NASDAQ:CBRX) fell sharply today, down 56.37% at $0.6894. An advisory panel of the FDA voted against recommending approval of the company’s progesterone gel citing insufficient data. CRBX has traded 12.2 million shares so far today, well above its daily average of 1.1 million shares. The company has a market cap of 60.75 million.

Twin Disc, Inc. (NASDAQ:TWIN) is down 18% in midday trading at $32.07. TWIN is down on heavy volume with over a million shares traded. The stock is down after the company saw sales increase but missed revenue estimates in its quarterly results. The company has a market cap of 368.25 million.

Pan American Silver Corp. (NASDAQ:PAAS) has dropped 8.67% in midday trading at $22.58. PAAS shares are down after Pan American Silver announced it reached a deal to buy Minefinders Corp for nearly $1.5 billion. PAAS has traded 3.7 million shares so far today, more than three times its daily average. The company has a market cap of 2.39 billion.

CPI Corporation (NYSE:CPY) is down 8.34% today at $1.6590. CPY has traded nearly 1.1 million shares so far today, close to four times its daily average. CPY shares are seeing a slight sell off today after it bounced nearly $0.50 the previous two trading sessions. The company has a market cap of 11.68 million.

written by

Rachel Brook is an up and coming financial writer focusing on commodity price inflation and how the overall market reacts to the price swings. She also covers emerging markets in Africa and SE Asia.
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