Wall Street Pit’s Midday Market Gainers: JAMN, YOKU, RUE, CHINA, SVU, IRM

Jammin Java Corp. (JAMN) rallied as much as 34 percent to $1.68, the most intraday since Dec. 23. The U.S.-based company providing premium roasted coffee on a wholesale level said it will introduce new coffee and tea products, including single-serve coffee pods.

Shares of Youku.com (YOKU) are up again this session, adding 6.15 percent to $60.92. Yesterday equity research firm Maxim raised its price target on the stock to $30 from $22, calling YOKU a momo play. The firm said Yoku.Inc should become profitable in the second half of fiscal 2012, ahead of the previously expected first half of FY 2013. Volume of 2.6 million shares has already surpassed the equity’s daily average volume of 1.8 million shares.

Rue21 Inc. (RUE) rose 3.84 percent to $29.78 and climbed as much as 4.2 percent, the most intraday since March 30. The Warrendale, Pennsylvania – based teen specialty retailer will replace RC2 Corp. (RCRC) in the S&P SmallCap 600 index after the close of trading on April 20, 2011. RC2 is being acquired by the Tomy Company Ltd. in a deal expected to be completed soon.

China Life Retire-Easy Guarantee (CHINA) added 30.54% to $3.11 and increased 36% earlier after the Hong Kong-based company announced that it signed a memorandum of understanding with the Administrative Committee of China Merchant’s Zhangzhou Economic and Technology Development Zone (“China Merchant Group”) to invest in a High-Tech Food Processing Park in that region. Volume has exploded with more than 5 million CHINA shares already trading hands compared to a daily average volume of just 165,000 shares.

Supervalu Inc. (SVU) advanced 13 percent to $10.24 and jumped to $10.47 earlier, printing the biggest increase in the S&P 500. The Eden Prairie, Minnesota-based supermarket chain reported that it had profits of $95 million, or $0.44 per share, in fiscal Q4 ending Feb. 26, beating the $0.34 per share average analyst estimate. Volume has exploded with more than 28.4 million SVU shares already trading hands compared to a daily average volume of 7.4 million shares.

Iron Mountain Inc. (IRM) had the second-biggest gain in the S&P 500, advancing 5 percent to $34.61. The storage and management company said Thursday it has named Chairman Richard Reese as CEO effective immediately, replacing Bob Brennan, who is resigning as president and CEO.

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