Stocks Trending Higher Today: IDIX, ACHN, PWRD, CIE, SINA, MTG, BAC, NOK

Idenix Pharmaceuticals Inc. (NASDAQ:IDIX) closed up 24.22% today at $12.35. IDIX traded 8.2 million shares today, above its daily average of 776 thousand shares. Shares of Idenix have been jumping the past two days following Bristol-Myers acquisition of Inhibitex. IDIX is up more than $4 a share over the past two trading sessions. The company has a market cap of 1.15 billion. Sign Up For Our Free Weekly Newsletter

Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) finished up 22.43% today at $11.90. ACHN traded 6.8 million shares today, above its daily average of 715 thousand shares. ACHN has been rallying for the same reason IDIX has been rallying. Investors are hoping one of these will be acquired in the near future. The company has a market cap of 829.94 million.

Perfect World Co., Ltd (NASDAQ:PWRD) closed Tuesday up 19.52% at $10.53. PWRD shares jumped as the company denies recent accusations calling them inaccurate, defamatory and malicious. PWRD traded 5.6 million shares today, 7 times its daily average. The company has a market cap of 484.32 million.

Cobalt International Energy, Inc. (NYSE:CIE) was up 13.81% today at $18.05. CIE traded 5.7 million shares today, way above the stock’s daily average of 951 thousand shares. CIE shares rose after the company gave a positive investor presentation. The company has a market cap of 6.98 billion.

Sina Corp. (NASDAQ:SINA) closed 12.80% at $54.37. SINA traded 8.9 million shares today, well above its daily average of 5.9 million shares. SINA shares rose today after analysts kept their buy rating on the stock. The stock has recovered from previous losses over the past four trading days. The company has a market cap of 3.58 billion.

MGIC Investment Corp. (NYSE:MTG) finished up 9.35% today at $4.21. MTG rose today on heavy volume with 8.8 million shares traded. MTG shares are up $0.60 a share since last Wednesday. The company has a market cap of 846.93 million.

Bank of America (NYSE:BAC) closed the day up 5.74% at $6.63. BAC stock has been rallying in 2012 and is up more than $1.50 since the middle of December. Volume was way above average today as 354 million shares were traded. Average daily volume for Bank of America stock is around 262 million shares. The company has a market cap of 67.20 billion.

Nokia Corporation (NYSE:NOK) closed up 3.06% today at $5.39. NOK stock rose today as investors were impressed with their line up of Windows phones and they will now be released here in the States during the next few months. NOK traded 33 million shares today, 3 million more than its daily average. The company has a market cap of 20 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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