Nasdaq Movers Amid Down Market: GEDU, VRUS, INHX, CLWR, REGN

The markets are getting crushed this morning as European debt concerns continue. The super committee also failed to get a deal done as well causing even more uncertainty in the markets. The major indexes are down more than 2.5% with the Dow is down 311 points, the Nasdaq is down 68 points and the S&P is down 30 points. Let’s take a look at a handful of Nasdaq stocks posting strong gains amidst the down market.

Global Education & Technology Group Limited (NASDAQ:GEDU) is up 96% at $10.55. Pearson Plc. has agreed to buy Global Education & Technology Group for $115 million in cash. The offer values the company at $294 million. GEDU has traded 1.9 million shares so far this morning, well above its daily average of 47 thousand shares. The company has a current market cap of 273.49 million.

Pharmasset, Inc. (NASDAQ:VRUS) is up 84% at $134.35 this morning. Gilead Sciences, Inc. (NASDAQ:GILD) announced it will buy Pharmasset for $11 billion. VRUS has traded 15.7 million shares so far today, 15 times its daily average. The company has a current market cap of $10.16 billion.

Inhibitex, Inc. (NASDAQ:INHX) is up 21.95% at $10.88 in early trading. INHX has traded 7.1 million shares today, well above its daily average of 1.4 million shares. INHX is up today after after news that Gilead bought Pharmasset. INHX also develops hepatitis C treatments. The company has a current market cap of 837.73 million.

Clearwire Corporation (NASDAQ:CLWR) is up 8.5% at $1.5950. Clearwire has traded 3.5 million shares so far today and trades 7.7 million shares on average. CLWR is bouncing back today after falling $0.40 on Friday. The company has a current market cap of 399.53 million.

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is up 9.96% at $54.79 this morning. REGN has traded 2.3 million shares, double its daily average of 1.3 million shares. Regeneron won FDA approval on Saturday for macular degeneration drug. The company has a current market cap of 5.05 billion.

written by

Kyle Pinder has has over five years trading and research experience in the large cap space. While still in grad school, Kyle trades daily and keep Active Investor up to date with the latest breaking news coming out of Wall Street and Washington.
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