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MARKET CURRENTS

  • 12:54 PM Home Loan Servicing Solutions (HLSS +1.5%) President John Patrick Van Vlack adds 4.3% to his stake in the company, purchasing 4,505 shares at $23.11 each. Comment! [Financials]
  • 12:53 PM FedFirst Financial Corporation (FFCO) declares $0.06/share quarterly dividend, 50% increase from prior dividend of $0.04. Forward yield 1.28%. For shareholders of record June 14. Payable June 28. Ex-div date June 12. (PR) Comment! [Dividends]
  • 12:50 PM Hi-ho, hi-ho, its off to work we go as Highway Holdings (HIHO +34%) soars to new highs after the company announced a multi-year order for vacuum cleaner components from an undisclosed leading international appliance manufacturer. The company says that production has already commenced, and an initial order of approximately three million components have already been delivered to the customer. Comment! [Global & FX, On the Move]
  • 12:50 PM The defensive utility sector (XLU -1%) isn’t looking very safe at the moment, as the break below the 50-day moving average suggests further weakness in the days ahead. Technician Ralph Acampora sees the break as a short-term sell for the Dow Jones Utility index but also a longer-term positive for the broader market as investors rotate out of defensive sectors and into more economically sensitive stocks. 1 Comment [Energy, Quick Ideas]
  • 12:45 PM Midday top 10 gainers: ESMC +52%. HIHO +43%. CNIT +23%. RUE +23%. GAME +16%. HPQ +14%. JRJC +13%. PTIX +13%. HSOL +13%. CHYR +13%.
    Midday top 10 Losers: RVM -22%. APRI -21%. CRUS -17%. BOSC -15%. NSPR -15%. MTEX -12%. SHIP -11%. IX -10%. EDMC -10%. AERL -10%. Comment! [On the Move]
  • 12:45 PM Kindred Healthcare (KND +2.5%) rallies for a second day on the back of Susquehanna's upgrade to Positive yesterday. The firm says the stock should continue to trade higher as the company exits its underperforming nursing care centers and free cash flow continues to rise. Comment! [Healthcare, On the Move]
  • 12:33 PM Forest Laboratories (FRX +3.4%) gets a bump higher after it says that Howard Solomon will retire as CEO and president effective December 31. He's expected to remain as chairman through the 2014 Annual General Meeting, when another chairman will be elected, then will serve as senior advisor to the company following his retirement. Comment! [Healthcare, On the Move]
  • 12:31 PM Kimco (KIM) and its JV partner agree to sell their stakes in 87 Mexican industrial properties for $294M plus the assumption of $306M in mortgage debt. Kimco's interest is a hair over 50%. (PR) Comment! [Financials]
  • 12:30 PM Three lunchtime reads:
    1) How much of a dove is Bernanke really?
    2) The Fed squeezes the shadow banking system
    3) Overdue student loans reach record Comment!
  • 12:27 PM New Gold (NGD +1.8%) is initiated with a Buy rating and $9.50 price target at Global Hunter. NGD is a mid-cap gold producer with four operating mines which also gets a significant portion of its revenue and earnings power from copper and silver exposure, which the firm believes gives it an advantage over peers in a declining gold price environment. 1 Comment [Commodities, Quick Ideas, On the Move]
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TOP ARTICLES12:57 PM ET THURSDAY MAY 23
DIA -0.03%
SPY -0.34%
QQQ -0.16%
GLD 1.70%
ETF Movers
AUNZ WisdomTree Australian & New Zealand Debt ETF 0.47%
BABZ PIMCO Build America Bond Strategy ETF 0.31%

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