JP Morgan was downgraded to hold after reporting its loss this morning and joining it was roundy’s from outperform to neutral. Roundy’s first quarter sales were down 2.4% and this sent their stock tumbling to 10.21 down over 16%. I find humor in Pick n’ save blaming the packer’s early playoff loss for their poor sales performance. ProShares are showing some huge gains at the moment with UltraPro leading the charge up over 400% to 49.24. They announced their share splits on Wednesday.
Advocat is up close to 70% to 7.33 after Covington Investments, who is currently a 12% shareholder, offered to buy the company for 50m, or 8.50 a share.
Arena Pharmaceuticals is also up big to 5.86 almost a 60% increase upon recommended approval of the company’s obesity pill Lorcaserin.
Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market. Comments can be directed to ryghcw19@uww.edu