Top Midday Performers for 12/07: MNI, MIND, MW, DEXO, GBG, RITT

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Stocks are rising from their lows this morning but the major stock indices are still negative on the day. The Dow is down 4 points, the Nasdaq is down 13 points and the S&P is down 5 points. Investors are uneasy today as they begin to doubt whether or not anything will get done at the European summit later this week. “This is still a headline-driven market and when confidence is shook, borrowers will continue to sit on the sidelines,” said Kevin Brungardt, chairman of RoundPoint Financial Group. “Europe is driving this market and if they are unable to contain the contagion, then that hampers our ability to diminish the unemployment rate and diminish our ability to grow.”

Let’s take a look at the top performing stocks in midday trading today.

The McClatchy Company (NYSE:MNI) is up 38.14% today at $1.63. MNI has traded 6.7 million shares so far today, way above its daily average of 715 thousand shares. MNI stock is up today after the company provides outlook. The company saw ad revenue improve and cut debt by $140 million in fiscal year 2011. The McClatchy Company has a market cap of 144.34 million.

Mitcham Industries Inc. (NASDAQ:MIND) is up 23.81% at $20.23. MIND has traded 1.1 million shares so far today, 10 times its daily average volume. MIND reported third quarter sales of $28 million beating analysts estimates of $23.3 million. MIND stock is up more than $5 a share over the past week. The company has a market cap of 217.75 million.

Men’s Wearhouse, Inc. (NYSE:MW) is up 16.59% at $31.70 in midday trading. MW has traded 2.1 million shares so far today, well above its daily average of 733 thousand shares. Men’s Wearhouse raised its full-year earnings forecast to at least $2.28 a share beating analysts expectations. The company has a current market cap of 1.62 billion.

Dex One Corporation (NYSE:DEXO) is up 19.72% at $1.70 in midday trading. DEXO has traded 1.6 million shares so far today, 500 thousand more shares than its daily average. DEXO is up today after it had a bit of a sell off that started last Friday. Before today’s bounce, DEXO had fallen from around $1.80 to $1.40. The company has a market cap of 81.87 million.

Great Basin Gold Ltd. (AMEX:GBG) is up 14.85% in midday trading at $1.16. GBG has traded 3.7 million shares so far today, nearly a million more shares than its daily average volume. The company executed $150 million credit facility today. Great Basin has a market cap of 552.16 million.

RiT Technologies Ltd. (NASDAQ:RITT) is up 11.86% at $5.00 in midday trading. RITT has traded 283 thousand shares so far today, well above its daily average volume of just 14 thousand shares. RITT has been trading higher the past two days after reporting results of annual shareholder meeting. RITT stock has moved up $0.50 over the past two days. The company has a market cap of 23.32 million.