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BREAKING- USEC Spikes 8 Percent

Shares of USEC, Inc (NYSE: USU) spiked 8 percent around 11:00 a.m. EDT Wednesday. No apparent reason for the sudden move.

The $92 million company announced earnings that sent the stock tumbling 16 percent Tuesday but has since regained most of the loss, now trading above Monday’s close prior to the earnings release.

Read More: USEC Might Be Derailed by Seeking Alpha Article

USEC made headlines when it staged a nearly 500 percent run. Over the past month, the stock is up 494 percent, reaching a high of $29.02 only to sell off going into earnings. The move was attributed to short covering after bullish sentiment surrounding Japan’s nuclear program.

[stock-tools exchange="NYSE" symbol="USU" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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