Today’s markets continue to dip lower as fears begin to rise that no debt deal will be reached. The Dow has fallen nearly 1% a drop of 123 points. The Nasdaq has seen a drop of 2% today while the S&P 500 has fallen 1.45%. While rising fears that the debt talks will continue in a stalemate have helped keep the market down some recent misses by companies in their quarterly earnings have help reinforce the instability facing the current market. While today’s slide is definitely a problem there are a few companies rising amid this downturn.
Dunkin’ Doughnuts (Nasdaq:DNKN) shares are on the rise climbing 51% to 28.83 per share. Volume is high as nearly 30 million shares have been traded after the company released it IPO at $19. The company has intrigued investors with its fast paced growth and plans to double nationwide stores over the next 20 years. The company plans on using money form its IPO to repay debt it accumulated under its previous ownership of a group of private equity firms.
Marshall Edwards Inc. (Nasdaq:MSHL) has seen shares jump up this morning climbing nearly 70% $2.00 per share with an intraday high of $3.28. Volume has exceeded 6 million shares traded today. The increase comes with news that MSHL announced the results of a pre-clinical study of NV-128 which has shown some activity in chemotherapy-resistant ovarian cancer cells. Such a breakthrough is tremendous as the hardest part of treating ovarian cancer is the outgrowth of those cancerous cells that are resistant to chemotherapy. Marshall Edwards plans tp continue completing the required pre-clinical process and submit an Investigational New Drug application to the FDA early in 2012.
Tangoe, Inc. (Nasdaq:TNGO) shares have made a nice jump this morning after releasing its IPO at $10 per share. Shares have climbed 22% to $12.02 per share and has seen an intraday high of $12.50. Nearly 3.3 million shares have been traded this morning. TNGO is selling 7.5 million shares while current shareholders are planning on selling 1.27 million shares to the public. Tangoe is just one of 12 IPO’s that will be making headlines for the remainder of the week.