Crude inventories jumped up to 3.7m barrels, currently operating at their highest rate of the year while gasoline inventories fell to a -2.6m barrels. While crude is still down, this report helped prop the number up slightly.
SODA is one of today’s hot stocks, which makes home carbonation kits, up as much as 23% currently at 34.21. It beat first quarter earnings and announced it expects revenue to rise 33% and earnings 50% for the year. NKBP, a Chinese pharmaceutical, is among the hottest of the day up about 22% to 4.51. Among the lows are MEMS down 35% to 2.45 after yesterday’s financial results. Chiquita brand(CQB) is another slacker today down 29% to 5.65 after its downgrade to hold from buy.
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