The market is turning higher in midday trading after the Fed pledges to not raise interest rates until at least late 2014. Economic conditions “are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014,” the central bank said in a statement. The Federal Reserve still describes the unemployment rate as “elevated” and expects inflation to stay at levels consistent with stable prices. The market reacted favorably to the news with the Dow up 30 points, the Nasdaq up 21 points and the S&P 500 is up 5 points.
Furniture Brands International (NYSE:FBN) is up 17.87% today at $1.7799. FBN has traded 1.3 million shares so far today, more than double its daily average. FBN shares are up more than $0.40 a share since the new year. FBN has earnings coming up at the end of the month. The company has a market cap of 99.34 million. Check out one of the best swing traders on the street.
Hudson Technologies, Inc. (NASDAQ:HDSN) is up 13.09% today at $2.4540. HDSN has traded 624 thousand shares today, way above its daily average of 32 thousand shares. Hudson Technologies reported the issuance of EPA no action assurance letters to HCFC importers and producers. The company has a market cap of 58.61 million.
NuVasive, Inc. (NASDAQ:NUVA) is up 10.29% in afternoon trading at $15.11. NUVA has traded 950 thousand shares so far today, 100 thousand shares more than its daily average. Medtronic is seeking an injunction against NuVasive tomorrow to prevent NuVasive from making or selling medical devices for spinal surgery. In a note to investors, Leerink Swann said Medtronic’s chances of an injunction are low. The company has a market cap of 635.77 million.
Majesco Entertainment Company (NASDAQ:COOL) is up 10.23% at $2.37 this afternoon. COOL has traded nearly 2 million shares so far today, more than double its daily average. COOL shares are bouncing back today after falling about $0.80 last week. The company has a market cap of 93.26 million.
LM Ericsson Telephone Company (NASDAQ:ERIC) is down 15.84% today at $8.61. ERIC has traded 11.6 million shares today, nearly 3 times its daily average volume. ERIC shares are dropping today after its quarterly results came in below Wall Street estimates. The company has a market cap of 27.68 billion. Check out one of the best swing traders on the street.
BioLineRx Ltd. (NASDAQ:BLRX) is down 11.69% this afternoon at $4.9010. BLRX has traded 1.3 million shares so far, more than ten times its daily average. BLRX shares are falling today after the stock shot up more than 100% yesterday on hepatitis C deal. The company has a market cap of 64.89 million.
BroadVision, Inc. (NASDAQ:BVSN) is down 15.42% today at $28.75. BVSN has traded 1.4 million shares so far today, ten times its daily average. BVSN shares have finally started to fall after the stock bounced up more than 200% since the beginning of the month. The company has a market cap of 126.42 million.
Corning Inc. (NYSE:GLW) is down 10.09% today at $13.15. GLW is down on heavy volume with 43.3 million shares traded so far today. GLW shares are down today after fourth quarter profit falls 53%. The company has a market cap of 20.69 billion.