Market Overview

Mid Afternoon Top-5 and Bottom-5 Percentage Gainers (NSM, ISPH, MRK, QCOR, PK, AAU, DGW, LEDS, MERU, WMGI, ZSTN)

The top-5 and bottom-5 percentage gainers in trading action thus far are: Best

1) National Semiconductor (NYSE: NSM): A bid from Texas Instruments to buy the company for $25 a share has the stock up a monstrous 71.57% to $24.14.

2) Inspire Pharmaceuticals (NASDAQ: ISPH): After a trading halt, equity in the company has popped 24.5% to $4.95 on news that Merck (NYSE: MRK) will purchase the entity for $5 per share in cash.

3) Questcor Pharmaceuticals (NASDAQ: QCOR): The company's release of preliminary operating metrics for its March quarter after the bell yesterday is stoking a 22.45% jump to $18.27 in today's action.

4) Procera Networks (AMEX: PKT): Shares of this broadband service consulting company have surged almost 16% to $10.80 in the early afternoon hours. Investors are reacting to reports that the company was awarded two initial orders from European service providers with a total value of over $2.75 million.

5) Almaden Minerals (AMEX: AAU): After starting the day in neutral territory, equity of the company is building on an early morning run, currently up 15% to $4.64; already trading more than three times daily volume.

Worst

1) Duoyuan Global Water (NYSE: DGW): Continuing yesterday's freefall, shares of this company are down just over 21% to $3.14 this afternoon. Allegations of fraud on financial reports surfaced yesterday, which initially prompted the plunge. The scandal led the CFO to resign earlier today.

2) SemiLEDS (NASDAQ: LEDS): A second-quarter loss along with an expected loss in the current quarter have knocked the stock down 18% to $11.84.

3) Meru Networks (NASDAQ: MERU): A downgrade to neutral from outperform by Cowen is taking its toll. Shares are down over just under 16% to $15.90 in afternoon trading; they had been down as much as 20.5% earlier in the morning.

4) Wright Medical Group (NASDAQ: WMGI): This medical device company is extending its morning slide. Shares are currently taking a11.7% hit to $15.13. Earlier today the company announced the appointment of Chairman David Stevens as interim President and CEO.

5) ZST Digital Networks (NASDAQ: ZSTN): The equity began the day slightly in the red, but selling volume picked up at 10 a.m. EST and has pushed the stock down 11.2% to $4.94.

Posted-In: Cowen David StevensLong Ideas Short Ideas Trading Ideas Best of Benzinga

 

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