Stocks Heading Up In Morning Trading: SYNO, STEM, SSW, LIVE, JOE, KNDI
The stock market is rallying somewhat this morning after yesterday’s sell off. Investors are still on edge over Europe’s debt problem. The Federal Reserve will also be in the news later today when they give their assessment of the economy. In early trading the Dow is up 91 points, the Nasdaq is up 15 points and the S&P is up 8 points.
Let’s take a look at a few stocks posting decent gains this morning.
Synovis Life Technologies Inc. (NASDAQ:SYNO) is up 50.65% this morning at $27.78. SYNO has traded 1.3 million shares already this morning, well above its daily average of just 45 thousand shares. Synovis is up this morning after news that Baxter International plans to acquire the company for $325 million. The deal is for $28 per share and is a 51% premium over Synovis’ closing price on Monday. The company has a market cap of 320.72 million.
StemCells Inc. (NASDAQ:STEM) is up 22.22% this morning at $1.65. STEM has traded 232 thousand shares so far this morning, more than twice its daily average. STEM is bouncing back today after it dropped from $1.60 to less than $1.40 on Monday. The company has a market cap of 23.64 million.
Seaspan Corp. (NYSE:SSW) is up 18.28% this morning at $12.36. SSW has traded 1.4 million shares so far today, 7 times its daily average. SSW stock is up today after the company launched a tender offer to buy up to 10 million of its Class A common shares. Seaspan has a market cap of 856.62 million.
LiveDeal, Inc. (NASDAQ:LIVE) is up 137% this morning at $3.45. LIVE has traded just 96 thousand shares this morning, but usually trades only 1.7 thousand shares a day on average. LiveDeal filed an SEC form 8-K this morning. The company has a market cap of 2.24 million.
The St. Joe Company (NYSE:JOE) is up 10.81% this morning at $15.89. JOE has traded 939 thousand shares already this morning, 200 thousand more shares than it trades daily. St. Joe Company has a market cap of 1.46 billion.
Kandi Technologies, Corp. (NASDAQ:KNDI) is up 13.82% this morning at $3.46. KNDI has traded 161 thousand shares so far this morning, three times its daily average. KNDI is up more than $0.40 over the past week. The company has a market cap of 94.41 million.
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