Stocks Heading South In Pre Market Trading: RIMM, INHX, IDIX, CVC, SINA
Research In Motion Limited (NASDAQ:RIMM) is down 10.11% in pre market trading at $13.60. RIMM has traded 615 thousand shares so far this morning and averages 20.77 million shares a day on average. RIMM is down after reporting disappointing earnings yesterday. The company has a market cap of 7.93 billion.
Inhibitex, Inc. (NASDAQ:INHX) is down 42.73% in pre market trading at $7.69. INHX has traded 55 thousand shares this morning and trades 4.3 million shares a day on average. INHX is down this morning after Pharmasset said it will amend the design of its QUANTUM Phase 2b trial. Pharmasset said it detected laboratory abnormalities with liver function in patients receiving PSI-938 once daily. This news from Pharmasset has caused stock of companies who develop hepatitis C treatments like Inhibitex to drop. Inhibitex has a market cap of 1.02 billion.
Idenix Pharmaceuticals Inc. (NASDAQ:IDIX) is down 16.24% in pre market trading at $6.50. IDIX trades 1.02 million shares a day on average. IDIX is down this morning for the same reason INHX is down. The company has a market cap of 746.14 million.
Cablevision Systems Corporation (NYSE:CVC) is down 7.04% in pre market trading at $12.95. CVC trades 2.57 million shares a day on average. CVC stock is down today after being downgraded to Hold by ISI Group. Cablevision has a market cap of 3.89 billion.
Sina Corporation (NASDAQ:SINA) is down 5.21% in pre market trading at $50.05. SINA has traded 150 thousand shares this morning and trades 4.85 million shares a day on average. The company has a market cap of 3.48 billion.
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