The markets have been down all morning the Dow has fallen 148 points a drop of over 1%. The Nasdaq and S&P have fared no better with the Nasdaq down 46 points while the S&P has dropped 16 points. Oil is currently down $2.97 a barrel while gold is up $2.00 per ounce. The reason for such a decline – is the US Markets have followed the other major world markets in trending downward on warnings that Europe’s debt crisis is worsening. Despite the downturn several stocks have been fighting the downward trend.
Krispy Kreme Doughnuts, Inc (NYSE:KKD) shares have risen $1.46 to $7.86 per share heading into midday trading. Volume has jumped as well with a little over 5 million shares being traded. The rise comes on news of 1Q financials and those results are extremely positive. 1Q net income was $9.2 million or $.13 per share more than double from last years 1Q where net income was $4.5 million or $.06 per share. Revenue for Krispy Kreme rose 13.6% during the 1Q. Analyst had predicted earnings of $.09 per share.
Identive Group, Inc. (Nasdaq:INVE) shares have climbed this morning rising $.40 per share to $3.44 with an intraday high of $3.79 per share. Volume has double from its average daily traded figure of 1.45 million shares. The Jump for Identive group comes from the announcement of an agreement between Identive Group and NXP Semiconductors (Nasdaq:NXPI) announcing NPX as a Value Added Reseller (VAR). Under the agreement the two companies will work closely together to identify and asses new oppourtunities for its secure identification applications and technologies.
Cheniere Energy, Inc (AMEX:LNG) shares have jumped up this morning increasing $1.52 to $11.56 per share with an intraday high of $12.81. Volume is up as nearly 13.8 million shares have exchanged hands today. The 15% increase in Cheniere stock coincides with US approval for the first large quantity export of Natural Gas. The push to export comes as new technologies has allowed companies like Cheniere the ability to unlock Natural Gas deposits in shale rock. These advances have allowed companies to unlock and estimated 100 year supply from these deposits.