InterOil Corporation (NYSE:IOC) is down 11.16% this morning at $51.40. IOC has traded just over a million shares so far today, well above its daily average of 779 thousand shares. IOC shares are falling after the company received a letter from the Department of Petroleum and Energy in Papua New Guinea saying the government intends to cancel a planned natural gas agreement with a joint venture led by InterOil. The company has a market cap of 2.54 billion.

Kemet Corp. (NYSE:KEM) is down 6.27% today at $5.65. KEM has traded nearly 700 thousand shares so far today, double its daily average volume. KEM shares have dropped 30% in the past five days with the biggest drop coming after earnings last Thursday. [Read more...]