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The Nasdaq Now: Zipcar Hitting the Brakes Hard


Zipcar is the greatest loser on the Nasdaq in midday trading.

MINYANVILLE ORIGINAL A good July jobs report helped stocks rally, with the Nasdaq Composite (^IXIC) up 61.30 points (2.11%) at 2,971.07 as of 12:20 p.m. EDT. That brings the Nasdaq's year-to-date increase to a healthy +14.05%. Compared to a year ago, the index is also up 10.32%.

But while all 30 Dow components are up in intraday trading, the Nasdaq is witnessing more dramatic fluctuations. Community Financial (CFFC) is the great gainer on the Nasdaq thus far, up 39.74% (+1.55) to $5.45. Blue Nile (NILE) was second, up 34.08% to $31.84. This is the online retailer's biggest surge since its IPO in May 2004. Blue Nile released third quarter forecasts that exceeded analysts' expectations. The company said that net sales for the quarter ending September 30 will be around $87 million to $91 million, comfortably exceeding the $84.7 million estimate by analysts.

On the flip side, Zipcar (ZIP) is down 34.16% to $7.00 after reporting poor Q2 earnings yesterday (see also: Stock Downgrades: Running Away From Zipcar). The company said revenue came in at $70.8 million, compared to the $73 million predicted by analysts polled by S&P Capital IQ. Earnings per share were $-0.01, which was below the $0.00 per share estimated.

Another poor performer so far is comScore (SCOR), which is currently trading at $12.51 after a 19.03% drop. The company was trading a volume of 760,940 shares this morning.

Twitter: @sterlingwong
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