Stocks Jump Home Sales Data (HGT, QTWW, HRG, JPM, NDSN)

U.S. stocks jumped after sales of existing homes rose 3.4% in April and distressed activity tapered off as the slow housing market recovery took further root.This morning, The National Association of Realtors reported that sales jumped to a seasonally adjusted annualized rate of 4.62 million, from a downwardly revised 4.47 million in March. The NAR initially reported March sales at 4.48 million. Economists were estimating a 4.6 million annual rate. All four regions saw improvement, and compared to April 2011, sales rose 10%, the tenth straight month of year-on-year gains.The Dow Jones Industrial Average added 34.51 (0.28%) to 12,538.99, and the Standard & Poor's 500-stock index surged 6.74 (0.51%) at 1,308.67. The Nasdaq Composite rose 7.62 (0.27%) at 2,854.83.​

Hugoton Royalty Trust (NYSE:HGT) stock plunged 23.61% to $8.90 in the early hour. On May 18, 2012, Bank of America Private Wealth Management, as Trustee of the Hugoton Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $0.052539 per unit, payable on June 14, 2012, to unit holders of record on May 31, 2012.

Quantum Fuel Systems Technologies (NASDAQ:QTWW) stock surged 17.78% to $0.530 in the morning hour after the company provided an update on the near term direction and focus of the Company following recent executive management changes. At a board meeting held on May 10, 2012, the board accepted the resignations of the former Chairman and CEO, as was reported in a press release the following day.

Harbinger Group Inc. (NYSE:HRG) shares climbed 0.83% to $4.86 in the early hour.  The shares of the company had declined 21% in the last one year. On May 10, 2012, Harbinger Group announced its consolidated results for the Fiscal 2012 second quarter ended April 1, 2012. The company posted second quarter consolidated revenues of $1.11 billion, as compared to $694 million for the same period in 2011.

JPMorgan Chase & Co. (NYSE:JPM) stock gained 5.11% to $34.17 in the early hour. On Monday, JPMorgan Chase announced that it cancelled its share buy backs while rumors circulated that its trading loss is growing. The figure may now hit $7 billion.Additionally, JPMorgan was sued by a former employee seeking to represent participants in the bank’s retirement plan who lost money on company stock the plan held after the bank reported a $2 billion trading loss.

Nordson Corporation (NASDAQ:NDSN) stock surged 8.65% to $53.24 in the morning hour after the company reported second-quarter net income of $52 million or $0.80 per share, versus $65 million or $0.95 per share last year. Adjusted earnings for the quarter were $55 million or $0.84 per share. Sales for the quarter were $315 million, as compared to $319 million in the same quarter last year. Analysts expected earnings of $0.87 per share on revenues of $321.16 million.Additionally, on May 21, 2012, the company announced it has entered into a definitive agreement to acquire Chippewa Falls, Wisconsin-based EDI Holdings, Inc. for the $200 million purchase price.