The Dow Jones (NYSE:DIA) rebounded to 12,130, the S&P 500 (NYSE:SPY) is headed to 1319 and the Nasdaq (NASDAQ:QQQQ) was higher at 2,781 on the 38th trading day of 2011, and here is a group of stocks that made big moves on our radar and the reasons why:
1) MedAssets, Inc. (NASDAQ:MDAS): Shares of MedAssets are trading lower today on news that Robert W. Baird downgraded the shares from an “outperform” rating to a “neutral” rating, as well as lowering its price target for the stock from $24 to $18. MedAssets, Inc. provides technology-enabled products and services for hospitals and health systems. Shares ended the day down 34% to $14.06 per share.
2) Protalix BioTherapeutics Inc. (AMEX:PLX): Shares of Protalix BioTherapeutics are trading lower today on news that the FDA sent the company a Complete Response Letter regarding the Company’s drug application for taliglucerase alfa for the treatment of Gaucher disease. A CRL is issued by the FDA when it has additional questions pertaining to the application of a drug for human use. Protaliz BioTherapeutics Inc. is a biotechnology company that has developed plant cell culture technology and a bioreactor system. Shares traded down 18% to $7.63 per share today.
3) Alanco Technologies, Inc. (NASDAQ:ALAN): Shares of Alanco Technologies are trading higher today despite news that it reported a net loss attributable to common shareholders for the quarter ended December 2010 of ($848,000) or ($0.16) per share. Alanco Technologies, Inc. through its subsidiary, provides advanced information technology solutions with a focus on radio frequency identification tracking technology. Shares traded up 63% to $1.68 per share today.
4) SandRidge Energy Inc. (NYSE:SD): Shares of SandRidge Energy are trading higher today on news that the company announced having executed a purchase and sales agreement with an unnamed buyer under which SandRidge Energy will sell certain properties it owns in New Mexico for $200 million. SandRidge Energy Inc. explored and produces natural gas and crude oil. Shares traded up 14% to $10.53 per share today.
5) NutriSystem Inc. (NASDAQ:NTRI): Shares of NutriSystem are trading lower today on news that the company reported a “horrible” January and is conducting layoffs. NutriSystem, Inc. operates an online weight loss community. Shares traded down 31% to $13.89 per share today.
6) Interpublic Group of Companies, Inc. (NYSE:IPG): Shares of Interpublic Group of Companies are trading higher today on news that its quarterly revenue increased to $2 billion from $1.8 billion in the previous year’s quarter. The Interpublic Group of Companies, Inc. is an organization of advertising and marketing service companies. Shares traded up 8% to $12.57 per share today.
7) dELiA*s, Inc. (NASDAQ:DLIA): Shares of dELiA*s are trading higher today on news that it has one of the highest current ratios in its industry. dELiA*s, Inc. retails clothing and other products. Shares traded up over 8% to close the day at $2.02 per share.
8) Crocs, Inc. (NASDAQ:CROX): Shares of Crocs are trading lower today despite news that revenue for the fourth quarter of 2010 increased 32% to $179.2 million, as compared to revenue of $136.0 million reported in the fourth quarter of 2009. Crocs, Inc. designs and manufactures shoes. Shares traded down 2.21% to $17.69 per share.
9) Xinyuan Real Estate Co., Ltd. (NYSE:XIN): Shares of Xinyuan Real Estate Co., Ltd. (ADR) are trading higher today on news that it reported unaudited financial results for 2010. Xinyuan Real Estate Company, Ltd. is a residential real estate developer that focuses on Tier II cities in China. Shares traded up 7% to $2.74 per share today.
10) Tanger Factory Outlet Centers Inc. (NYSE:SKT): Shares of Tanger Factory Outlet Centers are trading higher today on news that it expects funds from operations (FFO) for 2011 to be between $1.35 and $1.41 per share. Note that this company is a Real Estate Investment Trust (REIT), and for REITs, FFO, not earnings per share, is the principal measurement of a company’s profitability. Tanger Factory Outlet Centers, Inc. is a real estate investment trust that owns and operates factory outlet centers. Shares traded up 1% to $26.4o per share today.