Afternoon Movers – Paragon Shipping (NASDQ:PRGN), U.S. Steel (NYSE:X), Monster Worldwide (NYSE:MWW), Hibbett Sports (NASDAQ:HIBB), Visteon (NYSE:VC)

Technology Stocks News 8

Paragon Shipping (NASDAQ:PRGN) firms after Jefferies & Co. initiates coverage with a buy rating a $12 price target. Jefferies said the outlook for dry bulk shipping is attractive, and Paragon has an attractive valuation. In afternoon trading, PRGN was up 3.05% to $6.67, at a 36% discount to Jefferies’ estimated net asset value (NAV).

Shares in US Steel (NYSE:X) fell on Monday by 2.3% after KeyBanc cut its rating on the steel maker to hold from buy. The stock was last trading at $24.42, midway in the day’s range of $24.08 to $24.79. Some 5.1 million shares changed hands by early afternoon compared with the three-month daily average of 7.15 million shares.

Hibbett Sports (NASDAQ:HIBB) was down after a downgrade to Sell from Hold at Stifel Nicolas. This sporting goods retailer has worked its way back midday, down 1.8% to $55.73 per share, on modestly larger than normal volume of 282,000. An average full day of trading is 288,000 shares. Shares earlier had been down as much as 4% at $54.25 per share. HIBB trades with a 52-week price range of $50.01 – 68.31 per share.

Monster Worldwide (NYSE:MWW), the job search web-site, said on Monday it would acquire two social recruiting technology firms to increase distribution of job ads across social channels and aid employers in finding candidates. The two firms are TalentBin, a social profile talent search engine, and Gozaik, a developer of social jobs aggregation and distribution technology. Terms of the deals were not disclosed. Monster stock rose on the news.

Automotive electronics firm Visteon Corp. (NYSE:VC) gains Monday after it forms a strategic alliance with OpenSynergy, a maker of embedded automotive systems, to develop consumer electronics for auto infotainment applications. Financial details were not given, but Visteon is slated to start production of telematics control units for multiple vehicle manufacturers in the second half of 2014. The stock trades in the upper end of its $52.26 to $88.74 52-week range.

 

 

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