Earnings helped push stocks higher so far today even as economic data from the housing industry disappoints. European stocks also bounced today after hitting a 3-month low yesterday. Investors felt more confident today as the Netherlands had a successful $2.6 billion bond auction today even as their government collapsed on Monday.
Home prices dropped for the sixth straight month in February. New home sales also took a hit, falling more than 7% to a 328,000 unit rate in March.
All eyes will be on Apple this afternoon as they release earnings right after market close. Apple stock is currently trading down 2% at around $560 a share.
The Dow is currently up 100 points this morning, the Nasdaq is down 2 points and the S&P 500 is up 6 points.
Hot Stocks
Independent Bank Corporation (NASDAQ:IBCP) is up 26.50% today at $2.96. IBCP has traded 424 thousand shares so far today, way above its daily average of 37 thousand shares. Independent Bank Corporation reported first quarter results late yesterday and saw a net income of $0.07 per diluted share, versus a net loss of $1.06 per share a year ago. The company has a market cap of 26.48 million.
Alimera Sciences, Inc. (NASDAQ:ALIM) is up 28.62% today at $3.4599. ALIM has traded 538 thousand shares so far today, nearly double its average volume. ALIM shares are rallying today after the company received marketing authorization in Austria for the treatment of Chronic Diabetic Macular Edema. The company has a market cap of 104.02 million.
Grifols, S.A. (NASDAQ:GRFS) is up 11.63% this morning at $9.27. GRFS has traded 4.2 million shares so far today and trades 1.7 million shares a day on average. GRFS shares have rallied $1.30 in the past few days. The company has a market cap of 6.07 billion.
Sequenom Inc. (NASDAQ:SQNM) is up 9.23% today at $5.08. SQNM has traded 3.8 million shares so far today, 800 thousand shares more than its daily average. SQNM shares have jumped $0.80 a share in the past week. Sequenom stock was upgraded to neutral from underperform at Wedbush. The company has a market cap of 581.85 million.
Vermillion, Inc. (NASDAQ:VRML) is up 9.95% in early trading at $2.32. VRML has traded 552 thousand shares so far today and trades 646 thousand shares a day on average. Vermillion shares have jumped $0.40 a share in the past week. The company has a market cap of 34.87 million.
Cal Dive International Inc. (NYSE:DVR) is up 7.44% today at $3.90. DVR has traded 513 thousand shares so far today and trades 927 thousand shares a day on average. DVR shares are up about $0.30 a share since last Thursday. The company has a market cap of 375.02 million.
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