Stocks are continuing their rally from last week as European leaders began getting plans together at a meeting between French and German leaders. French President Nicolas Sarkozy and German Chancellor Angela Merkel discussed forging closer economic and political ties between euro nations. The two leaders also want tighter control on euro nation’s budgets to prevent debt problems that Greece, Italy and other countries are having. The major indices are up over 1% this morning with the Dow up 159 points, the Nasdaq up 45 points and the S&P up 21 points.
Here’s ten stocks under $10 rallying alongside the stock market.
TearLab Corporation (NASDAQ:TEAR) is up 57.26% at $1.95 this morning. TEAR has traded 353 thousand shares so far today, way above its daily average of 11 thousand shares. TEAR is up today after the FDA grants the company’s petition for a waiver under CLIA for the TearLab(R) Osmolarity System. “This marks the achievement of our third and final major milestone,” commented Elias Vamvakas, TearLab’s Chief Executive Officer. TearLab Corporation has a market cap of 38.79 million.
Affymax, Inc. (NASDAQ:AFFY) is up 20.38% at $6.32 this morning. AFFY has traded 2.3 million shares so far today, 4 times its daily average volume. Affymax is rallying today after the FDA said the company’s experimental anemia medicine works as well as approved drugs for patients with chronic kidney disease. Affymax, Inc. has a market cap of 228.31 million.
Frontline Ltd. (NYSE:FRO) is up 18.42% at $3.60 this morning. FRO has traded 1.3 million shares so far today and trades 2.6 million shares a day on average. Over the past 5 trading sessions, FRO has jumped nearly $1 a share. Frontline Ltd has a current market cap of 280.29 million.
Lloyds Banking Group (NYSE:LYG) is up 10.53% at $1.68 this morning. LYG has traded 1.7 million shares so far today and trades 4.2 million shares a day on average. LYG is up $0.30 over the past five trading sessions. Banking stocks have been on a tear the past week or so after last week’s central banks action which lowered borrowing rates for banks. Lloyds Banking Group has a market cap of 29.31 billion.
Tenet Healthcare Corp. (NYSE:THC) is up 11.12% at $4.6450 this morning. THC has traded 2.7 million shares so far today, and trades 10.8 million shares a day on average. THC is bouncing back today after selling off late Friday. Tenet Healthcare has a market cap of 2.02 billion.
Radian Group Inc. (NYSE:RDN) is up 8.04% at $2.42 this morning. RDN has traded 1 million shares so far today and trades on average 5.4 million shares a day. Radian Group has rebounded the last three trading sessions after having a big sell off last Tuesday. RDN has a current market cap of 322.34 million.
Bank of America Corporation (NYSE:BAC) is up 4.17% at $5.88. BAC has traded 94 million shares so far today and trades 271 million shares a day on average. BAC has been steadily going up for the past week now after last week’s major rally following the coordinated central banks’ actions. Bank of America has a market cap of 59.51 billion.
Sprint Nextel Corporation (NYSE:S) is up 0.58% this morning at $2.6150. S has traded 10.9 million shares so far today and trades 62.2 million shares a day on average. S stock rose nearly $0.40 a share last week to $2.80, but has since come back down and is up slightly today. Sprint has a market cap of 7.85 billion.
Human Genome Sciences Inc. (NASDAQ:HGSI) is up 1.85% at $7.71 this morning. HGSI has traded 3.8 million shares this morning and should pass its daily average volume of 6.1 million shares later today. HGSI has moved up $0.70 a share over the past five trading sessions. Human Genome Sciences has a market cap of 1.55 billion.
Huntington Bancshares Inc. (NASDAQ:HBAN) is up 2.11% at $5.32 this morning. HBAN has traded 2.9 million shares so far today and trades 16.1 million shares a day on average. HBAN has followed all the other financial stocks over the past week and has seen gains of more than $0.50 a share in about a week. HBAN has a current market cap of 16.1 million.