Wall Street lost ground yesterday, as investors predicted sluggish growth in corporate profits. Earnings are projected to be only slightly higher as compared to the third-quarter’s uninspiring results, and analysts’ current estimates are far lower than they were in October. Thomson Reuters’ data claims that fourth-quarter earnings growth will be 2.8 per cent.
FreeSeas Inc. (NASDAQ:FREE) recorded biggest volume increase and was the most gaining stock on Wall Street, rallying 126.43% on word that John Fredriksen may be looking to expand. Iberia Capital’s David Beard said that shipping tycoon Fredriksen could be planning to order 14 new iron ore-carrying Capesize vessels, perhaps hinting at a bottom in the market.[article_detail_ad_1]
Peregrine Pharmaceuticals (NASDAQ:PPHM) skyrocketed 80%, scoring the best intraday gain since October 2001, on confirmed Lung Cancer study results.
Epocrates, Inc. (NASDAQ:EPOC) traded near highs in final trading hours yesterday after a decision to sell itself to Athenahealth in a cash deal valued at $293 million.
Uni-Pixel Inc(NDA) (NASDAQ:UNXL) topped new high on Monday.
Molycorp Inc (NYSE:MCP) jumped after China’s Ministry of Land and Resources (MLR) announced the first production quota for minerals used in hybrid autos, mobile devices, and more, will be set at 46,900 metric tons, down about half the total quota last year.
EnergySolutions, Inc. (NYSE:ES) traded with an unusual volume yesterday, rallying 8.5% after signing a $1.1 billion deal to sell itself to a subsidiary of Energy Capital Partners II, LLC.
VIVUS, Inc. (NASDAQ:VVUS) made a strong move after prescriptions for its Qsymia obesity drug rose by 68 percent in the month ended December 21, versus prior month.
Avalon Rare Metals Inc (US listing) (NYSEAMEX:AVL) was up as the company plans to invest $300 million in a rare earth elements separation plant in Geismar. The Baton Rouge Area Chamber predicts economic growth of 1.5 percent in the Capital Region this year and has introduced a targeted recruitment program to generate foreign direct investment in the region.
Uranium Resources, Inc. (NASDAQ:URRE) rose after expanding agreement with Cameco.
Newcastle Investment Corp. (NYSE:NCT) jumped to new high after increasing both size and pricing of public offering of common stock.
Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) advanced to mark new 52-week high after getting a buy rating at Goldman Sachs, increasing PT to $21.50. BofA also lifted its PT to $23.30 on the stock.
Ocwen Financial Corporation (NYSE:OCN) surged 5.40% after a report that the company is in talks with BofA to acquire portion of assets it placed on sale.
Quiksilver, Inc. (NYSE:ZQK) was another new high price achiever after Goldman Sachs lifted the stock to buy from neutral.
Windstream Corporation (NASDAQ:WIN) gained on tax benefit.
Vodafone Group Plc (ADR) (NASDAQ:VOD) got a boost after Lowell McAdam, Chief Executive Officer at Verizon (NYSE:VZ) said the company was once again considering a buyout of its joint venture with Vodafone.
More on the upside included SandRidge Energy Inc. (NYSE:SD), Fortress Investment Group LLC (NYSE:FIG)