IDT-C, CGA speed ahead, BAC is hot, RDN is not

IDT Corporation (NYSE: IDT-C) strengthened 37.38 percent in price by noon ET Monday to $16.98. IDT shares leaped off the shelves, trading in 178,167, in comparison to a three-month daily average of 4,741. Last week, IDT’s Board of Directors authorized an initial cash dividend of $0.22 per share to be paid on or about November 23 to shareholders of record at the close of business on November 15 of IDT Corporation Common Stock, Class A Common Stock and Class B Common Stock. IDT is a consumer services company with operations primarily in the telecommunications and energy industries.

China Green Agriculture Inc. (NYSE: CGA) gained 10.55 percent to $8.38 as the clock approached noon ET Monday. Volume was 574,045 in just the first half of the trading day, compared to the daily average of 590,935. This, despite word that class action lawsuit has been commenced in the United States on behalf of purchasers of the securities of China Green Agriculture, Inc. between November 12, 2009 and September 1, 2010. The complaint charges China Green and certain of its officers and directors failed to disclose accurate financial information during the Class Period.

Bank of America Corporation (NYSE:BAC) had a commanding position among volume stocks Monday morning, exchanging 106,512,045 shares, compared with a three-month daily average of 190,530,000 shares. The conglomerate inched ahead in price 1.17 percent to read $12.51 at the lunch hour in New York. The company serves clients through operations in more than 40 countries.

Radian Group Inc. (NYSE: RDN) took a spill of 11.16 percent in price to greet noon ET on Monday at $8.84. Volume in RDN stock came in at 6,313,939 shares, more than 50 percent above its three-month daily volume average. The Philadelphia-based mortgage insurer saw its shares drop, after announcing it will raise up to $350 million through a convertible notes offering to repay debt.

Tags: bac, BofA, CGA, IDT-C, NYSE, RDN

This entry was posted on Monday, November 8th, 2010 at 12:21 pm by Glenn and is filed under Consumer Discretionary Stocks, Consumer Staples Stocks, Financial Stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.