The stock market starting the morning in the green, but are starting to waver after existing home sales fell in February. Existing home sales fell nearly 1% last month to an annual rate of 4.59 million units after seeing a 5.7% gain in January. Economists were expecting sales to jump to a 4.62 million-unit sales pace.
Ben Bernanke is also testifying before the House Oversight Committee right now about Europe’s debt crisis. Bernanke reiterated that the Fed will intervene if conditions worsened.
A quick look at the market show the Dow down 11 points, the Nasdaq up 1 point and the S&P 500 down 1 point.
NASDAQ Stocks to Watch
Origin Agritech Limited (NASDAQ:SEED) is up 63.10% this morning at $4.15. SEED shares are rallying today on rumors that the company is close to getting China’s approval for first GMO seed. SEED has seen a massive spike in volume with 1.6 million shares traded so far, well above its daily average of 60 thousand shares. The company has a market cap of 95.16 million.
On Assignment, Inc. (NASDAQ:ASGN) is up about 30% today at $17.73. ASGN has traded 1.1 million shares so far today, more than 5 times its daily average. On Assignment announced today it will buy Apex Systems for $600 million. The company has a market cap of 665.72 million.
Galena Biopharma, Inc. (NASDAQ:GALE) is up 16.92% in early trading at $2.27. GALE has traded 5.5 million shares today, nearly 5 times its average volume. Galena Biopharma announced this morning the addition of Hope S. Rugo, a renowned breast cancer physician to its scientific advisory board. The company has a market cap of 96.72 million.
L&L Energy, Inc. (NASDAQ:LLEN) is up 12.18% today at $2.66. LLEN has traded close to 700 thousand shares this morning, 3 times its daily average volume. L&L Energy signed a strategic sales agreement with AVIC International Coal Logistics Co., Ltd. The company has a market cap of 97.76 million.
FriendFinder Networks Inc. (NASDAQ:FFN) is up 4% today at $1.53. FFN has traded 331 thousand shares so far today and trades 765 thousand shares a day on average. FFN shares are bouncing back slightly this morning after falling from $1.60 over the past few days. The company has a market cap of 47.77 million.
Green Mountain Coffee Roasters, Inc. (NASDAQ:GMCR) is trading up 6.43% this morning at $53.96. GMCR is up on heavy volume today with nearly 8 million shares traded so far, above its daily average of 5.4 million shares. Green Mountain stock is up today on news that the company and Starbucks are expanding their partnership to make, market, distribute and sell Starbucks’ Vue coffee packs in Green Mountain’s Keurig Vue single cup machines. The company has a market cap of 8.29 billion.
Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) is up 4.28% in early trading at $1.95. LXRX is trading big volume this morning with 800 thousand shares traded. The stock trades on average about 878 thousand shares a day. Yesterday, the FDA granted Lexicon orphan drug designation for telotristat etiprate for the treatment of Carcinoid Syndrome. The company has a market cap of 932.38 million.
About Kyle Pinder
