The stock market is on a tear this morning following strong housing numbers and positive economic news out of Europe. The Commerce Department said today that housing starts surged 9.3% today to an adjusted annual rate of 685,000, the highest in more than a year. In Europe, German business and consumer confidence rose and Spain had a successful debt auction today. The Dow is up 257 points, the Nasdaq is up 63 points and the S&P is up 29 points.
Here’s a look at 6 Nasdaq stocks posting strong gains early.
Canadian Solar Inc. (NASDAQ:CSIQ) is up 30.77% this morning at $2.89. CSIQ has traded 1.2 million shares so far today and is already above its daily average volume for the day. CSIQ stock is up today after the company announced it is selling solar projects to TransCanada. Canadian Solar has a current market cap of 122.99 million.
Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) is up 17.44% today at $7.61. PGNX has traded 446 thousand shares so far today and trades 132 thousand shares a day on average. Progenics is up today after announcing positive phase 3 results for methylnaltrexone. The company has a current market cap of 258.62 million.
Powerwave Technologies Inc. (NASDAQ:PWAV) is up 12.50% this morning at $1.62. PWAV has traded 216 thousand shares today and trades 649 thousand shares a day on average. PWAV gaped up this morning after falling about $0.40 a share over the previous four trading days. Powerwave has a current market cap of 52.28 million.
Double Eagle Petroleum Co. (NASDAQ:DBLE) is up 18.68% this morning at $7.18. DBLE has traded 260 thousand shares so far today, well above its daily average of 105 thousand shares. The company has a current market cap of 80 million.
Dish Network Corp. (NASDAQ:DISH) is up 8.23% today at $27.21. DISH has traded 1.9 million shares so far today and averages 3.8 million shares a day. DISH stock rose this morning on rumors of AT&T buying the company. Dish Network has a market cap of 12.16 billion.
Hanwha SolarOne Co. (NASDAQ:HSOL) is up 6.93% this morning at $1.08. HSOL has traded 351 thousand shares so far today and trades 850 million shares a day on average. The company has a current market cap of 90.86 million.