Market Overview

Afternoon Market Top Percentage Gainers and Losers (CAAS, GENE, HNSN, SYMX, TPX, SCOK, QXM, IDIX, AIB, HERO)

Best

1) China Automotive Systems (NASDAQ: CAAS): Skyrocketing 36.49% to $11.14 after reporting that preliminary Q4 sales were ahead of consensus estimates. Looks like a short squeeze is underway.

2) Genetic Technologies (NASDAQ: GENE): Currently up 22.6% to $3.25. Shares have been surging since the opening bell.

3) Hansen Medical (NASDAQ: HNSN): Shares have been steadily gaining ground all day. Trading 16.60% higher to $2.92

4) Synthesis Energy Systems (NASDAQ: SYMX): The stock has vaulted 15.81% to $3.15 since 10:35 a.m. EST.

5) Tempur-Pedic International (NYSE: TPX): Gaining 12.88% to $57.62 after raising its 2011 forecast yesterday afternoon.

Worst

1) SinoCoking Coal & Coke Chemical Industries (NASDAQ: SCOK): Currently down 21.15% to $6.04. Shares have been extending their losses throughout the day. 2) Qiao Xing Mobile Communication (NYSE: QXM): Losing 12.57% to $3.06. Stock continues to fall after yesterday's shareholder debacle, which ended the company's bid to go private.

3) Idenix Pharmaceuticals (NASDAQ: IDIX): Equity has sunk 11.11% to $2.88 after announcing plans to sell stock to the public.

4) Allied Irish Banks (NYSE: AIB): Equity is plunging 11.75% to $3.82. A notice from the National Pensions Reserve Fund Commission requiring the company to convert 10,489,899,564 convertible non-voting shares into ordinary shares is the reason for the drop.

5) Hercules Offshore (NASDAQ: HERO): Dropping 10.34% to $5.72. News of an investigation by the Justice Department and the Securities and Exchange Commission for potential violation of the Foreign Corrupt Practices Act is taking its toll.

Posted-In: Foreign Corrupt Practices Act Justice Department National Pensions Reserve Fund Commission Securities and Exchange CommissionLong Ideas Short Ideas Trading Ideas

 

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