Wall Street Pit’s Midday Market Gainers: EROC, RVBD, QTM, NTAP, USAT, GTXI, REGN, DB, ZOOM, QCOM

Eagle Rock Energy Partners LP (EROC) jumped 14% to $11.70 after jumping 19% earlier, the most intraday since January 2009. The Houston-based natural gas company said it will buy CC Energy II LLC for $525 million to tap natural gas resources in Oklahoma, Texas and Arkansas.

Riverbed Technology, Inc. (RVBD) surged 16% to $36.35 after the provider of cloud computing services boosted its Q1- profit guidance to $0.19-$0.20 a share from previous guidance of $0.18 cents. RVBD also raised its quarterly revenue guidance to $163-$164 million, topping a previous estimate of $159-$161 million.

Quantum Corp. (QTM) rose 16% to $3.08 and climbed 23% earlier, the most intraday since November 2009. The San Jose, California-based company announced it has entered into an agreement with NetApp (NTAP) enabling it to resell Quantum’s StorNext software.

USA Technologies Inc (USAT) added 7% to $2.19  and increased 9% earlier after the co. reported a 93% year-over-year surge in number of transactions processed for the month of March 2011. USAT said its current processing volume rate is now approaching $150 million in annualized volume, a significant increase from the $100 million annualized run rate announced by the company in September 2010.

GTx, Inc. (GTXI) shares spiked 50% to $4.13 after analysts at Citigroup (C) upgraded their rating of the stock to “Buy” from “Hold.” The equity is currently trading 30% higher at $3.60 on 2.3 million volume vs 3-m daily average of just 85,000 shares.

Regeneron Pharmaceuticals Inc. (REGN) added 5% to $44.90 and increased 5.9% earlier after Deutsche Bank (DB) announced it was initiating coverage with a “Buy” rating. Volume of 560,000 shares is already approaching the daily average volume of 569,000 shares.

ZOOM Technologies, Inc. (ZOOM) jumped 37% to $4.25 after rising as much as 61% earlier. The Chinese mobile phone maker said it signed a license agreement with Qualcomm Inc. (QCOM), allowing it to develop and sell 3G products using Qualcomm’s chip patents. ZOOM volume has exploded with more than 8.3 million shares already trading hands compared to a daily average volume of just 184,000 shares.

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.