NYSE Stocks Sinking in Midday Trading: PCX, EXPR, HGT, CVI, ACI, LSI

Traders at the NYSEPatriot Coal Corporation (NYSE:PCX) is down 31.25% today at $2.3050. PCX has traded 20.8 million shares so far today, well above its daily average of 7.4 million shares. PCX shares have dropped $1.70 a share over the past week. The company has a market cap of 223.20 million. UPDATE: PCX shares are now down nearly 60% as reports come out the company is looking at restructuring advisers in the event the company cannot meet its near term financing needs.

Express Inc. (NYSE:EXPR) is down 25.12% today at $17.29. EXPR has traded 11.7 million shares so far today, 11 times its daily average. EXPR shares are tanking as the company reported lower than expected results. The company has a market cap of 1.53 billion. [Read more...]

Stock Futures Point to a Higher Opening But EU Concerns Weigh. Stocks to Watch

Wall StreetFutures are pointing higher this morning on earnings optimism, but investors cannot seem to shake the wariness over Europe. Jobless claims are also on tap this morning. Dow futures are currently up 34 points. Nasdaq and S&P 500 futures are also positive, up 14 and 4 points respectively.

The just released jobless numbers are likely to disappoint investors. Claims came in at 386k, a 2k drop thanks to the BLS revising the previous week upward. This time it was from 380k to 388k. Expectations were for a print of 374k. So the narrative that will emerge is that like the housing market, the labor market is beyond anemic and will likely lead to some sort of new stimulus.

The percentage of overall earnings beats is helping investors shrug off news coming out of Europe, plus the ambiguous data emerging domestically and from China. Granted the earnings expectations bar was set so low, the number of beats at this point was inevitable. But investors are taking positives where they can get them. [Read more...]

Insiders Selling Report for April 9

Traders at the NYSEDuPont Fabros Technology, Inc. (NYSE:DFT) fell 0.08% on Thursday at $24.06. DFT traded 502 thousand shares on Thursday and trades 949 thousand shares a day on average. Hossein Fateh (President and CEO) sold 36,727 shares at $24.50 on April 2.

athenahealth, Inc. (NASDAQ:ATHN) closed Thursday down 0.96% at $71.99. ATHN traded 647 thousand shares, well above its daily average of 506 thousand shares. Daniel Orenstein (SVP) sold 2,143 shares at $74.23 on April 5. [Read more...]

Stock Futures Drifting Ahead of FOMC Minutes, Stocks to Watch

Stock FuturesFutures are soft this morning as investors eye the fomc minutes of the latest Fed meeting. They are searching for comments that would give the recent rally a firmer foundation. The minutes are scheduled for release at 2pm EST. Dow futures are currently down 23 points to 13,166. Nasdaq futures are flat, while S&P 500 futures are down just over 2 points to 1,410.

Other economic data to watch for for are car sales numbers and factory orders. Release times for those are 9am and 10am respectively. Chrysler has already reported that US sales are up 34% for their best tally in four years.

Internationally, Europe is is becoming a growing concern again. This time the focus is on Spain and their austerity measures. The concern is that their austerity will hamper growth, which in turn will limit its ability to pay back debt. This is based off the facts that austerity has been proven time and again not to work over in Europe. Only a matter of time at this point before the bailout talk regarding Spain begins in earnest.

Asia was a mixed bag overnight as Hong Kong rallied on US manufacturing news, while Japan slipped on the back of a stronger Yen. [Read more...]

Biggest Losers as Market Tries to Recover: ZOOM, UNIS, ANF, CHE, CVI

The stock market is up from its lows earlier today, but still slightly down. Oil continues to go higher as it nears $102.

Here’s the biggest losers so far today.

ZOOM Technologies, Inc. (NASDAQ:ZOOM) is down 17.93% at $1.41. Zoom is down today after posting poor third quarter results and disappointing guidance. Revenue was at $50.7 million, a 29.7% drop from the same quarter a year ago. The company now expects to see full year revenue of $250 to $255 million, down from previous guidance of $320 million to $340 million. ZOOM has traded 407 thousand shares so far today, more than 5 times its average volume. The company has a current market cap of 22.4 million.

Unilife Corporation (NASDAQ:UNIS) is down 13.66% this today at $4.11. The company priced an 8.25 million share stock offering at $4.35 today. UNIS has traded 1 million shares so far today, 5 times its daily average volume. In the past 5 days, UNIS has fallen from a high of $4.90 to a low of $4.06. The company has a current market cap of 255.72 million.

Abercrombie & Fitch Co. (NYSE:ANF) is down $7.47 at $48.23, a loss of 13.41%. ANF is down today as investors are reacted to the company’s inability to raise prices in this weak economy. The company did see third quarter profits rise slightly at $50.9 million from $50 million a year ago. ANF has traded 14 million shares today, well above its daily average of just 2.9 million shares. The company has current market cap of 4.21 billion.

Chemed Corp. (NYSE:CHE) is down 12% today at $50.59. CHE shares fell today as a whistleblower accuses Chemed of Medicare HMO conspiracy. The whistleblower alleges the company defrauded the federal government by enrolling Medicare patients who were not dying. CHE has traded 1.8 million shares today, 9 times its average. The company has a current market cap of 1.02 billion.

CVR Energy, Inc. (NYSE:CVI) is down 10.8% at $19.58 today. U.S. refinery companies are dipping today after news that the Seaway pipeline will be reversed. This may boost costs of crude and narrow profits from making fuel. CVI has traded 4.2 million shares today, 1.4 million more than its daily average volume. Over the past 5 days, CVI has dipped from $24.50 to less than $20. The company has a current market cap of 1.70 billion.

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