U.S. Manufacturing Activity Expanded More Slowly in March and eBay Gets New Price Target
NEW YORK, April 2, 2013 /PRNewswire/ --
The Institute for Supply Management revealed that its index of factory activity slipped to 51.3 percent. This is down from 54.2 percent in February, which was the fastest growth since June 2011. RW Baird lifted its price target on eBay from $60 to $65, citing the company's three year guidance; its Mobile and PayPal momentum, and potential for continued growth in its eBay Marketplace. The stock is rated at "outperform."
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BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) - Shares of BCRX soared on Monday after the Company announced that it received a preliminary comment letter from the U.S. Food & Drug Administration that outlines a pathway by which BioCryst could file a New Drug Application seeking regulatory approval of intravenous peramivir; the company's anti-viral agent. The stock closed up 15.97% yesterday at $1.38.
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Quicksilver Resources Inc. (NYSE: KWK) - Shares of KWK rose the most ever in intra-day trading yesterday after the company agreed to sell a 25% in Barnett Shale assets to Tokyo Gas Co. for $485 million, which is more than its market value. In intra-day trading the stock rose 41 percent, the biggest intra-day increase since it began trading publicly in March 1999.
Tesla Motors, Inc. (Nasdaq: TSLA) - Tesla Moters hit a new 52-week high of $46.68 on Monday. The Company pre-announced first-quarter profitability and said that it beat its Model S sales target. The Company was one of the highest risers on the Nasdaq yesterday and closed up 15.94%.
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Excel Maritime Carriers, Ltd. (NYSE: EXM) - Excel Maritime Carriers saw one of the biggest volume advances on the NYSE on Monday. Though the stock closed down 5.17%, trading volume at nearly 4 million shares was significantly higher than average.
American Greetings Corp. (NYSE: AM) - American Greetings Corp. hit a new 52-week high of $18.11 in intra-day trading. The Company has agreed to be taken private for about $602 million by a group led by some of its top executives. They will buy the shares of the company they don't already own for $18.20 a piece in cash.
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