Easing Concern Over the Greek Debt Crisis Leads a Market Rebound

The Dow is up this morning heading into midday trading rising 82 points. The Nasdaq and S&P 500 are up as well posting 18 and 8 point gains respectively. The gains come on news that some of the worry over the Greek financial crisis is easing. The European Union finance ministers gave Greece an ultimatum of two weeks to approve austerity measures in return for an additional $12 billion Euros worth of loans. Oil prices have fallen this morning and are below $93 a barrel on a stronger US dollar. Lets take a look at a few stock on the move today.

Acura Pharmaceuticals, Inc. (Nasdaq:ACUR) are up today climbing 29% to $4.96 with an intraday high of $6.80 per share. Volume is trading heavier than normal on news that the FDA has approved the marketing of Oxecta as an moderate-to-severe pain reliever. The drug also contains niacin which causes a patient to experience irritation and flushing if patients try to abuse it. Unlike Oxecta’s main rival, OxyContin, the addictive properties of the painkiller have been nullified by the addition of niacin and give health officials a viable non-addictive alternative.

Dex One Corporation (NYSE:DEXO) shares are up 40% this morning to $2.96 per share. Volume is trading ten times normal on news that Dex One has reached and agreement with Google to serve as a partner for Google AdWords. The partnership will allow DEXO to equip its customers with a better way to sell their products and services online. The deal is also expected to help DEXO reach a digital sales revenue of 30% by the end of 2012.

Harbin Electric, Inc (Nasdaq:HRBN) shares have climbed this morning 57% to $13.22 per share. Volume is trading very heavy as well on news that the company has agreed to be taken private by the company’s chairman/CEO and a private equity fund for $24 per share. The purchase price is nearly triple the stocks previous closing price of $8.39 per share. The deal is expected to close sometime in the fourth quarter.

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