Stock Round Up for 12/07: TLB, ROYL, TEAR, GRPN, AMR Finish Strong
Stocks struggled into the close today as investors ponder what will happen in Europe in the coming days and weeks ahead. Leaders in France and Germany are now downplaying expectations for the summit, which finishes up on Friday. Traders are hopeful for a plan that will impose greater financial discipline on debt ridden nations like Greece and Italy.
“The pattern has been, get your hopes up, then be disappointed by EU summits, and that pattern has been in place for a while,” said Steve Van Order, fixed income strategist at Calvert Investment Management.
The Dow finished the day up 46 poinst, the Nasdaq down 0.35 points and the S&P up 2.54 points. Let’s take a look at stocks that finished the day strong.
Talbots Inc. (NYSE:TLB) closed the day up 69.87% at $2.66. TLB traded 14.1 million shares today, nearly 14 times its daily average volume. Talbots finished up today on news that Sycamore Partners, a private equity firm, offered the company $3 per share or $212 million. Talbots has a market cap of 183.13 million.
Royale Energy Inc. (NASDAQ:ROYL) closed Wednesday up 19.91% at $5.36. ROYL traded 3.1 million shares today, nearly 8 times its daily average. Just about an hour ago, Royale Energy announced it was selected by the state of Alaska as a winning bidder on acreage in the North Slope Area wide lease sale. The company has a market cap of 57.68 million.
TearLab Corporation (NASDAQ:TEAR) finished the day up 17.39% at $1.35. TEAR traded 309 thousand shares today, well above its daily average of 39 thousand shares. TEAR bounced back slightly today after selling off on Monday following news. TearLab Corp has a market cap of 27.56 million.
Groupon, Inc. (NASDAQ:GRPN) closed up 9.93% today at $21.15. GRPN traded 3.5 million shares today and trades 5.3 million shares a day on average. GRPN stock has gained nearly $3 a share since last Thursday. Groupon has a market cap of 13.49 billion.
AMR Corporation (NYSE:AMR) finished the day up 59.09% at $1.12. AMR traded 232.5 million shares today, way above the 21.9 million shares a day it usually trades. America Airlines announced late this afternoon, they have signed a partnership with China’s Hainan Airlines. This partnership will allow customers to fly on both airlines with a single ticket. AMR has jumped more than 200% in the past two days moving from $0.40 to over $1.10. The company has a market cap of 375.45 million.
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