Beazer Homes rose after Citigroup upgraded the stock to buy from hold. The firm said that Beazer's recent debt and note sale will bolster its balance sheet, allowing the homebuilder to focus on operations.
Meanwhile, a regulatory filing from Monday showed that hedge fund Paulson & Co. bought 5 million shares of Beazer stock in the first quarter.
Beazer Homes shares jumped by 46 cents, or 8.8%, to $5.70. Volume topped 6.69 million shares, compared to the three-month average daily volume of 4.38 million, according to Yahoo! Finance.Elsewhere, China Armco Metals (CNAM) dropped by 58 cents, or 10.2%, to $5.11 after the company late Monday posted a first-quarter adjusted profit of 6 cents a share on revenue of $8.58 million, compared with a year-ago profit of 2 cents a share on $5.36 million in revenue. China Armco said its management is maintaining financial guidance with revenues for the full year of 2010 exceeding $220 million with net income exceeding $12 million. Volume topped 400,000 shares, compared to the three-month average daily volume of 1.15 million.
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