Blue Dolphin Energy Company (NASDAQ:BDCO) saw it’s shares jump 33.14% in morning trading on volume of over 650,000 shares traded, already surpassing it’s average daily volume of 473,000 shares traded. The Newsworthy team has not found any news or events that would cause the stock to have moved this much in early trading. Our reasoning behind it’s upward momentum is that investors started heavily buying shares of BDCO when news was released on June 15th, which caused the stock to more than triple by June 22nd. Afterwards heavy selling occured most likely by the early investors cashing in on some profits and caused the stock to fall almost 50% from it’s June 22nd high. Now today’s increase we believe is being caused by the same investors re-buying BDCO at a much lower price than when they sold.Christopher & Banks Corporation (NYSE:CBK) shares traded 20.36% higher in morning trading on volume of over 460,000 shares traded, already surpassing it’s average daily volume of 269,000 shares traded. CBK yesterday released their earnings report. Their net sales increased from $120.4 Million a year ago to $126.2 Million. Their earnings per share more than tripled from $.05 per diluted share a year ago to $.18 per diluted share this time around.
Sterling Financial Corporation (NASDAQ:STSA) shares traded 11% higher in morning trading on volume of over 720,000 shares traded, more than half it’s average daily volume of 1.18 Million shares traded. The Newsworthy Team could not find any news that would have caused this upward momentum. Our opinion is that is a natural seasaw occurance with STSA shares that has been going on since the end of April. The downward momentum has been stronger causing shares of STSA to fall over 30% from June 15th to June 30th.
Central Pacific Financial Corp. (NYSE:CPF) saw it’s shares trade 8% higher in morning trading on volume of over 330,000 shares traded, more than half it’s average daily volume of 529,000 shares traded. The Newsworthy Team could not find any news that would have caused this upward momentum. Our opinion is that shares of CPF are experiencing a rebound from Yesterday’s fall.
IDT Corporation (NYSE:IDT) saw it’s shares trade 7.22% higher in morning trading on volume of over 1.03 Million shares traded, more than double it’s average daily volume of 424,000 shares traded. The Newsworthy team could not find any news that would have caused this upward momentum. Our opinion is that IDT is continuing an upward movement that it started in July of 2009 when shares were trading at under $1.75. The companies shares have continued to rise steadily for over a year now, and in the last 6 Months alone it’s shares have more than tripled in value. IDT was once trading at over $30 per share in 2007.AVANIR Pharmaceuticals (NASDAQ:AVNR) shares jumped 6.61% in morning trading on volume of over 3.78 Million shares traded, almost 3 times it’s average daily volume of 1.27 Million shares traded. The Newsworthy team has found that Analysts from Jefferies have given AVNR a Buy rating and set a target price of $10 per share.
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