Hot Movers: Tower Group International, Ltd. (NASDAQ:TWGP), Molycorp Inc (NYSE:MCP), JinkoSolar Holding Co., Ltd. (NYSE:JKS)
Tower Group International, Ltd. (NASDAQ:TWGP) went up 6.35% to $7.87 on a traded volume of 1.52 million shares. Tower Group International, Ltd. announced that it has entered into agreements with three reinsurers – Arch Reinsurance Ltd., Hannover Re and Southport Re – to enhance the Company’s financial flexibility. Tower Insurance Company of New York on its behalf and on behalf of each of its pool participants entered into a multi-line quota share agreement with Arch Reinsurance Ltd.
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Molycorp Inc (NYSE:MCP) jumped up 9.31% to $7.28 on a traded volume of 3.55 million shares. Molycorp, Inc. announced that the chloralkali plant at Mountain Pass, California, is now mechanically complete and that full-scale commissioning operations have commenced. The chloralkali plant will recycle wastewater and produce hydrochloric acid and caustic soda used as part of the rare earth separations process. Company officials said that once fully operational and optimized, the chloralkali plant is expected to help the facility achieve its cash production cost targets, which the Company believes will make it competitive with the lowest cost producers globally.
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JinkoSolar Holding Co., Ltd. (NYSE:JKS) declined 3.61% to $22.94 on a traded volume of 579k shares. JinkoSolar Holding Co., Ltd. has been recognized as one of the “Top 100 Best Employers in China 2013″. This election is by the World Executive Journal in conjunction with the World HR Laboratory, Bossline and CEO-ZINE; organizations that promote company culture and brand awareness of an employer.