Morning Movers 07/05: (PCX) (JRCC) (YELP) (CNDO) Higher; (VRS) (CATO) (VE) Lower

July 5, 2012 10:08 AM EDT Send to a Friend
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Patriot Coal (NYSE: PCX) 33.7% HIGHER; shares are continuing higher following a nearly 34 percent run-up on Tuesday. The Market Vectors Coal ETF (NYSE: KOL) rose 3.7 percent on Tuesday and is up another 0.7 percent today.

Verso Paper (NYSE: VRS) 16.2% LOWER; some profit taking following a 48 percent surge on Tuesday amid news of a possible business combination with NewPage Corp.

James River Coal (Nasdaq: JRCC) 11.5% HIGHER; bouncing with the rest of the coal sector. James River Coal has been a momentum play on the coal group recently.

Yelp (Nasdaq: YELP) 11.2% HIGHER; gapped over resistance at $25 after failing to break above this level on Tuesday. The stock charged through $26 and is now over $27. Volume is heavy.

Cato Corp. (NYSE: CATO) 10.1% LOWER; reports total sales of $83.7 million for June, down 7 percent from the same month last year. Same-store sales were down 10 percent. Looking for Q2 EPS to be at the low end of the company's previously-issued range of 53-57 cents. The Street is currently looking for Q2 EPS of 59 cents.

Coronado Biosciences (Nasdaq: CNDO) 9.4% HIGHER; continuing to bounce following the closing of an offering on June 27th. Shares rose 6 percent on Monday and another 8 percent on Tuesday. The stock is over an important technical level at $6 today.

Veolia Environnement (NYSE: VE) 8.9% LOWER; UBS downgraded Veolia from Neutral to Sell.

Peregrine Pharma (Nasdaq: PPHM) 8.4% HIGHER; continuing to bounce over the $0.50 level. The stock is up more than 40 percent since June 27th.


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