Futures Higher As Traders Await Fed Statement. Stocks to Watch: MDS, JVA, CDTI, RENN, URBN, GNC, AMZN

Stock Futures

Stock futures are looking for any excuse to go higher. After a bounce in Asia overnight, US markets are set for a sizable bounce this morning. Dow futures are up 61 points to 12,968. Nasdaq 100 futures are up 13.50 points to 2,661. The S&P 500 futures are rounding out the gains, up 7 points to 1,373.

Retail sales are out this morning in-line with expectations. Most of the 1.1% rise is attributable to the record high gas prices this early in a season.

The big news domestically today will be the Fed statement this afternoon. Most expect few fireworks, as the trajectory of the data prevents the Fed from doing anything major to keep the recovery propped up.

One issue thee Fed may have to grapple with soon is the rise in gas prices. The Iran issue is not going anywhere, and the continued growth is putting upward pressure on crude. This will tipple through the economy diving prices up and crimping consumer spending. These rosy numbers now can look terrible in short-order if gas prices do not moderate. The coming driving season is not helping the situation either.

In commodities, oil continues to be in that range of above the the $100 dollar per barrel mark. Nymex crude futures are currently up 43 cents to $106.77.

Stocks to watch today include Midas, Inc. (NYSE:MDS), Coffee Holding Co., Inc. (NASDAQ:JVA), Clean Diesel Technologies, Inc. (NASDAQ:CDTI), Renren Inc. (NYSE:RENN), Urban Outfitters, Inc. (NASDAQ:URBN), GNC Holdings, Inc. (NYSE:GNC) and Amazon.com, Inc. (NASDAQ:AMZN)

Midas, Inc. (NYSE:MDS) is up 27.59% in pre market trading at $11.47. MDS shares are up this morning on news that TBC will buy the company for about $310 million in cash. MDS should have no problem trading more than its daily average volume of 52 thousand shares. The company has a market cap of 129.45 million.

Coffee Holding Co., Inc. (NASDAQ:JVA) is up 5.68% in pre market trading at $12.86. JVA shares continue to rise at a steady rate following the company’s quarter results late last week. JVA trades 432 thousand shares a day on average, but lately has been trading millions of shares a day. The company has a market cap of 81.94 million.

Clean Diesel Technologies, Inc. (NASDAQ:CDTI) is unchanged in pre market trading at $4.85. CDTI shares jumped more than 50% yesterday after the company reported fourth quarter results. Clean Diesel saw revenue jump 80.5% year over year to $21.3 million. CDTI has traded 24 thousand shares already this morning and trades about 200 thousand shares on average daily. The company has a market cap of 34.81 million.

Renren Inc. (NYSE:RENN) is up 1.60% in pre market trading at $5.70. RENN trades 8.4 million shares a day on average. RENN shares have jumped as much as $0.60 in the past four days. The company has a market cap of 2.21 billion.

Urban Outfitters, Inc. (NASDAQ:URBN) is down 3.76% in pre market trading at $28.40. URBN has traded close to 100 thousand shares already this morning and trades 3.7 million shares a day on average. Urban Outfitters announced fourth quarter results late yesterday and saw profits fall 48%. The company reported EPS of $0.27, estimates were $0.29. The company has a market cap of 4.26 billion.

GNC Holdings, Inc. (NYSE:GNC) is up 4.64% in pre market trading at $32.69. GNC trades just over a million shares a day on average. GNC shares are up some this morning after the company raised its current quarter guidance thanks to sales growing at a faster pace. The company has a market cap of 3.32 billion.

Amazon.com, Inc. (NASDAQ:AMZN) is up 0.39% in pre market trading at $184.11. AMZN trades 6 million shares a day on average. AMZN may rally alongside the market today as long as investors like what they hear from the Fed later today. AMZN shares are down about $4 a share in the past two days. The company has a market cap of 83.45 billion.

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About Danny Fisher

Danny is the old hat at Active Investor. One of the been around the block a few times traders, his main focus is on overall market conditions. Be it some new merger talk or Washington being Washington, you can expect Danny will be on top of it.

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