Housing reports have helped the S&P 500 gain 5.4% in the month of January and the index has more than doubled since its low in 2009. According to CoreLogic, home prices rose 7.4% in the 12 months that ended in November, the largest 12-month gain in six years. Caterpillar Inc. reported disappointing 4Q earnings yesterday morning while Yahoo reported fiscal fourth-quarter earnings that topped expectations making the Company’s shares jump after hours.
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Keryx Biopharmaceuticals Inc. (KERX) – KERX experienced one of the largest volume increases yesterday with more than 67 million shares traded compared to a daily average of 1,461,670. The stock hit a new 52-week high on Monday at $6.86. Shares closed in the green at $6.06, up roughly 76%. Keryx announced positive phase 3 results for their chronic kidney disease drug Zerenex, which made CEO Ron Bentsur say he was “thrilled.” Zerenex is an oral, ferric iron-based compound that has the capacity to bind to phosphate in the gastrointestinal tract and form non-absorbable complexes.
General Electric Company (NYSE:GE) – General Electric share prices hit levels yesterday that have not been seen since mid-October of last year. At its intra-day high on Monday, GE shares hit $$22.54. The last time shares traded that high were on October 18th of 2012. General Electric recently signed a memorandum of understanding with Toshiba Corporation to collaborate for high-efficiency combined-cycle power projects across the world. The stock closed modestly in the green yesterday with volume traded slightly above the daily average of 43,047,200.
Jammin Java Corp. (OTC:JAMN) – Jammin Java Corp. saw a significant breakout yesterday when the stock hit a new 52-week high of $0.46. Volume traded on Monday was more than 15 times higher than the stock’s average volume of 218,087. Shares closed in the green up about 66% at $0.37. The Company announced last Friday that they are scheduled to be featured on the QVC channel on a cooking show called, In the Kitchen With David, on January 30th at 9PM (ET).Jammin Java Corp is a US-based company that grows premium, artisan roasted coffee on their organic family farms in the famed Blue Mountains of Jamaica.
Echo Automotive Inc. (OTCBB:ECAU) – ECAU shares hit a new 52-week high again yesterday at $2.44. This makes it the 5th straight trading day in a row that the stock has broken its 52-week high. The stock closed at $2.42 and up about 45%. On January 3rd, ECAU shares were as low as $0.72. The stock’s new 52-week high on Monday represents gains of over 230% since January 3rd levels. Echo Automotive Inc. manufactures cost reduction technology (EchoDrive) for converting fleet vehicles into highly fuel efficient plug-in hybrids.
AMR Corporation (AAMRQ) – AMR Corp. was one of the most active stocks trading yesterday in the OTC market. Trading volume on Monday was nearly $12 million though the stock closed in the red down $0.12 or 8.76% at $1.25. It’s been said that a possible merger between American Airlines (the parent company of AMR Corp.) and US Airways Group could be in the final stages and on way to completion. Three months ago, AAMRQ shares were trading in the 30 cent range.
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