Stocks closed Wednesday up thanks to better than expected economic data in the U.S. Durable goods orders saw a more than 1% jump in May and pending home sales climbed nearly 6% in May.
Investors continue to cautiously invest as Europe continues to bring a lot of uncertainty into the markets. The Dow closed up 92 points today, the Nasdaq closed up 21 points and the S&P 500 closed up 11 points.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) went up 28.70% today and closed at $11.39. ARNA traded nearly 90 million shares today, more than 4 times its average volume. The company’s anti obesity drug received approval from the FDA earlier today. The company has a market cap of 2.08 billion.
Orexigen Therapeutics, Inc. (NASDAQ:OREX) is closed up 20.29% at $4.92. OREX traded 24.2 million shares today, well above its average volume of 1.2 million shares. OREX shares rose today as Arena’s drug approval gives the company hope its own drug will be approved. The company has a market cap of 333.46 million.
LiveDeal, Inc. (NASDAQ:LIVE) jumped 17.88% today at $11.01. LIVE traded 483 thousand shares today, way above its average volume of 64 thousand shares. LIVE shares have jumped $4 a share over the past five days. The company has a market cap of 26.34 million.
Quicksilver Resources Inc. (NYSE:KWK) went up 16.32% today at $5.06. KWK has traded 6.7 million shares today, 2 million shares more than its daily average. KWK shares have jumped $1.50 a share in the past week. The company has a market cap of 860.46 million.
Osiris Therapeutics, Inc. (NASDAQ:OSIR) went down 17.43% today at $11.42. OSIR traded 1.4 million shares on Wednesday, 5 times its normal volume. The company has a market cap of 375.17 million.
Zynga, Inc. (NASDAQ:ZNGA) fell 2.34% today at $5.63. ZNGA traded 36.3 million shares today, well above its daily average of 22.7 million shares. ZNGA shares fell today as game development costs eat into the company’s profits. The company has a market cap of 4.14 billion.
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