Knight Capital Group Inc. (KCG) skyrocketed 56.98%, or $1.47, to $4.05, leading the top stocks Friday, on a volume of 121.49 million shares, well above its daily average of 8.58 million shares. The surge was on the rumors that Knight Capital is considering bankruptcy reorganization.
Community Financial Corp. (CFFC), one of the top stocks, spiked up 41.03%, or $1.60, to $5.50, on a volume of 108,102 shares, much higher than its daily average of 5,056 shares. City Holding and Community Financial jointly announced a strategic merger plan. This transaction will be completed in the first quarter of 2013.
Blue Nile, Inc. (NILE) soared 34.74%, or $8.25, to $32, on a volume of 1.83 million, well above its daily average of 316,109 shares. Blue Nile reported a better than expected earnings report on August 2 and issued Q3 2012 revenue guidance above analysts’ expectations.
Genco Shipping & Trading Limited (GNK) made its way up to top stocks by rising sharply by 24.33%, or 73 cents, to $3.73, on a volume of 2.88 million shares, much higher than its daily average of 713,930 shares. The stock was raised to a “neutral” rating from a “reduce” rating by the analysts at Global Hunter Securities. Genco Shipping & Trading reported EPS of $0.65 for Q2 2012, beating the Thomson Reuters consensus estimate of ($0.67) by $0.02.
Mercadolibre Inc (MELI) stock came in as the fifth of the top stocks Friday, with an increase of 24.29%, or $16.16, to end at $82.68, on a volume of 3.05 million shares versus the daily average of 561,366 shares. After the release of higher-than-expected quarterly profit, on strong sales, the stock was upgraded to a “overweight” rating from a “neutral” rating by analysts at J.P. Morgan.