Cheap Stocks Moving Higher This Morning: CPRX, SANM, OCLR, STEM, SRPT, VRNG

Wall Street signProblems in the euro zone continue to affect the markets today. Stock markets in Europe were taking a hit today after Moody’s put Germany, Luxembourg and the Netherlands on negative watch. This sent a signal that no eurozone economy is safe from the problems plaguing countries such as Spain and Italy. PMI results also disappointed in Europe.

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Closer to home, economic data showed lower manufacturing activity in the mid-Atlantic region. The Richmond Fed Manufacturing Index fell at a steeper rate than expected.

The major stock averages are down at least 0.5% this morning. The Dow is down 88 points, the Nasdaq is down 14 points and the S&P 500 is down 8 points.

Catalyst Pharmaceutical Partners Inc. (NASDAQ:CPRX) is up 17.27% this morning at $1.29. CPRX has traded 2.3 million shares so far today, nearly 10 times its normal trading volume. CPRX shares have been trending higher over the past week and is up more than 50% from around $0.90 to around $1.40. The company has a market cap of 43.34 million.

Sanmina-SCI Corp. (NASDAQ:SANM) is up 14.48% this morning at $8.22. SANM is seeing above average volume today with 1.3 million shares traded, double its average volume. SANM is rising today after reporting third quarter results and projecting it would generate sequential increases in profit and revenue for the fourth quarter. The company has a market cap of 675.63 million.

Oclaro, Inc. (NASDAQ:OCLR) is up 13.42% today at $2.62. OCLR has traded 391 thousand shares this morning and trades 713 thousand shares a day on average. OCLR shares are up today as Oclaro and Opnext complete merger. The company has a market cap of 131.79 million.

StemCells Inc. (NASDAQ:STEM) is up 7.93% today at $2.04. STEM has traded 4.7 million shares already today, 4 times its normal volume. STEM shares continue to rally after announcing positive results last week. The company has a market cap of 53.95 million.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) is up 138.44% this morning at $8.25. SRPT has traded 6.6 million shares so far today, well above its daily average of just 167 thousand shares. SRPT shares are up big today after its drug eterplirsen showed significant clinical benefit in a study for the treatment of muscular dystrophy. The company has a market cap of 191.84 million.

Vringo, Inc. (NYSE:VRNG) is up 3.58% today at $4.05. VRNG has traded 3.08 million shares so far today, double its average trading volume. VRNG shares have jumped about 6% over the past week.

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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