Stocks are trading higher this morning thanks to positive data. Unemployment benefits surprised investors as it fell again last to a near four year low, suggesting that the labor market may finally be strengthening. This positive data helped keep investors attention away from Moody’s warning that it may downgrade over 10 global and more than 100 European financial institutions. The Dow is up 77 points today, the Nasdaq is up 16 points and the S&P 500 is up 7 points.
HyperDynamics Corporation (NYSE:HDY) is down 31.26% today at $1.3885. HDY is down on heavy volume with 22.7 million shares traded today. The stock usually trades 3.4 million shares a day on average. HDY shares are down today after an exploration well drilled by the company showed low amounts of oil. The company has a market cap of 231.87 million. [Read more...]