New York, NY -- (ReleaseWire) -- 01/07/2013 -- Walter Investment Management Corp. (AMEX: WAC), a fee-based business services provider to the residential mortgage industry, is up sharply in mid-day trading today after the company announced a definitive agreement to acquire residential mortgage servicing platform of MetLife Bank N.A., which is located in Irving, Texas. WAC noted that the assets it is acquiring from MetLife Bank do not include any mortgage loans or mortgage servicing rights.
WAC is currently trading 6.61% higher at $46.96 on volume of 1.54 million, which is more than three times the daily average volume of 494,149. WAC has broke n through $46 resistance level as a result of the sharp rise today. The next resistance level for the stock is at $48.
Inovio Pharmaceuticals Inc. (AMEX: INO), a company engaged in the development of a new generation of vaccines focused on cancers and infectious diseases, is seeing a huge rally in mid-day trading today after the company announced a follow-on collaboration with PATH Malaria Vaccine Initiative to advance malaria vaccine development and new vaccination delivery technologies.
At last check, INO was trading 18.36% higher at $0.627 on volume of 2.54 million, which is more than two times the daily average volume of 1.18 million. The stock has gained more than 22% in the last three trading sessions.
INO has crossed its 50-day and 200-day moving averages as a result of the rally today. This is a bullish signal. The stock could continue to rise before facing resistance at around $0.650.
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