Stocks Flat as Earnings Season Continues, Stocks to Watch: SVU, PGRX, BTU, GURE, VOLC, ACI

Stocks are trading mostly flat this morning as investors digest more earnings. Caterpillar reported earnings that beat expectations, although revenue fell short. The construction equipment maker also cut its full year guidance. Caterpillar was trading lower in pre market, but has managed to turn positive this morning and is currently up about 1%. Yahoo and Texas Instruments are two companies investors will be watching closely today as they post their earnings after the market close.

In Europe, rumors continue to circulate on when exactly Spain will ask for a bailout. The country’s prime minister clinched election victory in his home region, which many see as a hurdle towards Spain requesting a bailout.

The major stock averages are trading mostly flat this morning with the Dow down 8 points, the Nasdaq up 4 points and the S&P 500 up 1 point.

SuperValu Inc. (NYSE:SVU) is up 26.94% today at $2.78. SVU has traded 26.1 million shares so far today, well above its daily average of 5.2 million shares. SVU shares are up today on increasing speculation the supermarket chain will be acquired. The company has a market cap of 621.54 million.

Prospect Global Resources, Inc. (NASDAQ:PGRX) is up 21.53% this morning at $3.50. PGRX is seeing huge volume traded today with 1.2 million shares traded, way above its daily average of 40 thousand shares. PGRX shares are up today after a state-owned Chinese fertilizer company signed a 10 year potash supply agreement with the company. The company has a market cap of 192.31 million.

Peabody Energy Corp. (NYSE:BTU) is up 12.55% today at $29.14. BTU has traded 16.2 million shares so far this morning, double its daily average. BTU shares are up today on after its adjusted third quarter results beat Street expectations. Peabody Energy also expects the global coal market to stabilize. The company has a market cap of 7.81 billion.

Gulf Resources, Inc. NASDAQ:GURE) is up 8.96% in early trading at $1.4818. Volume has been heavy today with nearly 600 thousand shares traded this morning. GURE typically trades 113 thousand shares a day on average. GURE shares have jumped nearly 40% since October 17. The company has a market cap of 51.84 million.

Volcano Corporation (NASDAQ:VOLC) is up 8.19% today at $29.05. VOLC has traded 1.07 million shares so far today, more than three times its daily average. VOLC shares are up today after Leerink believes the company’s legal win against St. Jude medical is a best case scenario for Volcano Corp. Leerink maintains an outperform rating on Volcano with a $32 price target. The company has a market cap of 1.56 billion.

Arch Coal Inc. (NYSE:ACI) is up 6.83% today at $8.45. ACI has traded 12.3 million shares so far today and trades 15.1 million shares a day on average. The company has a market cap of 1.82 billion.

About Rachel Brook

Rachel Brook is an up and coming financial writer focusing on commodity price inflation and how the overall market reacts to the price swings. She also covers emerging markets in Africa and SE Asia.

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