Monday’s Unusual Movers (MTE, CRESY, NTSP, CHM, MLAB)
Mahanagar Telephone Nigam Limited (ADR)(NYSE:MTE) shares are rebounding this morning after slumping over 12% during the past one week. The Indian based company has been underperforming over the past one year as the company struggles to turn profitable on rising cost because of high spectrum costs within the country. Increased competition with the private players is putting additional pressure on the stock.
Cresud S.A.C.I.F. y A. (ADR)(NASDAQ:CRESY) is gaining over 11% to $13.02 on very unusual volume without any official any news. For the latest quarter, the company reported Net income of ARS 41.5 million, compared to ARS 107.0 million. Operating income stood at ARS 404.4 million, a 12.5% increase compared to the same semester of the previous fiscal year.
NetSpend Holdings Inc(NASDAQ:NTSP) shares rose 45 cents or 5.865 to $8.13 with more than 119K shares traded, compared to its 30-day average volume of 441K shares. So far this year, the stock has given flat return and fallen over 19% over the past one year. NetSpend Holdings, Inc. is a provider of general-purpose reloadable prepaid debit cards (GPR) cards, and related alternative financial services to underbanked consumers in the United States.
Chemtura Corporation(NYSE:CHMT) shares slid 1.42% to $17.39. This morning the company said that it will raise the production capacity for its Adiprene® / Vibrathane® range of high-performance polyurethane prepolymers at the company's Latina Scalo facility in Italy. Further, the company planning the enhancement of our EMEA technical development centre.
Mesa Laboratories, Inc.(NASDAQ:MLAB) continued to move lower and slid another 9%, extending its weekly loss to over 21%. So far this year, the stock has surged over 10% and 59% over the past one year. Mesa Laboratories, Inc. (Mesa) manufactures and distributes electronic measurement systems and disposable products for various niche applications, including renal treatment, food processing, medical sterilization, pharmaceutical processing and other industrial applications.
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