Negative Movers: Share Sale News Bites Back (SYNM, BTX, YARIY, FCEL, CTIC)
The markets are trading to the upside on Wednesday. This is not helping some Indexes, which are trading lower mostly on announcements of public offerings.
Today’s Negative tickerspy Indexes:
Ethanol and Biofuel Stocks (down 5.6% today vs S&P 500): The Index is being pulled down by shares of Syntroleum (SYNM), which are plummeting this morning after the company announced pricing of its public offering of common stock at $1.58 per share. The stock was trading above $2 before this announcement was made.
Stem Cell Stocks (down 3.6% vs S&P 500): Shares of BioTime (BTX) are leading the Index lower on well above average volume. This might be profit taking after the stock has risen over 17% the last five trading days.
Norway Stocks and ADRs (down 1.6% vs S&P 500): Yara International (YARIY) is leading the Index lower on below average volume. Traders may be taking profits after the stock had a nice advance the past couple of sessions.
Cancer Stocks (down 1.6% vs S&P 500): Shares of Cell Therapeutics (CTIC) are leading the Index lower after the company announced it has agreed to an equity sale. The offering might be viewed as dilutive to current shareholders, as the company seeks proceeds for general purposes, such as repaying debt and funding research and development.
More on this topic (What's this?)
Key Earnings to Watch This Coming Week (FCEL, PBY, THO, HOV, CIEN, LULU, NSM, TXN, FNSR) (Wall Street Sector Selector, 6/3/11)
NASDAQ Industrial Goods Sector Price Jumps of the Day: (WPRT, FCEL, AONE) (Penny Stock DD, 3/31/11)
Top Traded Volumes at NASDAQ Industrial Goods Sector: (CPST, FCEL, XIDE, JOYG, AONE) (Penny Stock DD, 2/15/11)
|Home | Find | Research | Track | Register | My Account | Logout||Web site design by LightMix|
|© 2011 Indie research Corp. All rights reserved.|