Stocks Heading South Today: CTIC, PCYC, SPPI, PEIX, IVR

While the stock market is rallying on the euro zone agreement, there are some stocks not doing well today.

Cell Therapeutics, Inc. (NASDAQ:CTIC) has fallen 15.22% today to $1.17. CTIC is down on heavy volume with 2.6 million shares traded so far. The company announced its agreement to sell $20 million in preferred stock shares and warrants at a conversion price of $1.15. The company has a market cap of 225.53 million.

Pharmacyclics Inc. (NASDAQ:PCYC) is down 14.16% today at $12.55. PCYC is falling today after the stock was downgraded by Global Hunter Securities. PCYC has traded 2.4 million shares so far today, nearly 4 times its daily average. The company has a market cap of 875.92 million.

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) is down 8.85% today at $13.29. SPPI has traded 2.98 million shares this morning, well above its daily average of 1.48 million shares. Spectrum has a market cap of 763.52 million.

Pacific Ethanol Inc. (NASDAQ:PEIX) is down 7.12% at $1.20 today. PEIX announced $8 million in private placement his morning as well as agreeing to increase ownership. PEIX has traded 10.8 million shares so far today, 2 million more than its daily average. The company has a market cap of 91.75 million.

Invesco Mortgage Capital Inc. (NYSE:IVR) is down 6.86% so far today at $14.66. IVR has traded 4.7 million shares this morning, more than double its daily average. IVR was downgraded today by FBR Capital. The company has a market cap of 1.70 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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