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Benchmark's shares closed Thursday up 2 percent to $17.67, near the company's 52-week high of $17.70. They dropped slightly to $17.55 in after-hours trading.
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Origin Agritech Limited (NASDAQ: SEED) announced that its Origin Biotechnology unit reached a worldwide agreement with the Institute of Microbiology of the Chinese Academy of Sciences and Sichuan Biotech Engineering, Limited. Those two will jointly own the rights to an internally developed gene which is highly tolerant to glyphosate herbicide. This glyphosate-tolerance gene is entirely new to the consumer markets in that it has never been commercialized, and is protected by patents granted separately by China and USA separately. SEED is surging on the news. At the open we have a gain of almost 10% at $5.25 on 87,000 shares versus average volume of 120,000. The 52-week high is $6.31. -Jon C. Ogg
US Bancorp (NYSE: USB) is up but is surprisingly not getting as much attention as we would have expected. At 8:51 AM EST we have only seen 18,000 shares trade hands versus an average volume of 17 million shares. The gain is only 1.5% at $23.15. The news that is out is that Rochdale’s Dick Bove upgraded his old Neutral rating to a new BUY rating. The old $25 target was hiked to $28 as well. Shares are still up over 100% from its March lows, but we would be looking for stock upside and a volume spike here as the open gets closer. JON OGG