Over the weekend, the Greek cabinet and parliament approved the bailout deal that paves the way for the second round of funds to the struggling country. Instead of fireworks celebrating the deal, the Greek citizenry turned towards Molotov cocktails to voice their displeasure with the austerity cuts. Maybe one day the EU and IMF will figure out you cannot decimate your populace to growth.
The Dow futures are responding positively to the Greek news, up 85 points to 12,852. Nasdaq 100 futures are following suit, up 17.50 points to 2,556. The S&P 500 is rounding out the pre-market gains, adding 9.50 points to 1,350.
If the Greek deal sounds bit like deja vu, it is cause you have seen this movie before. The Greek government passes a bill that promises the moon, citizens go into the street to riot, and then the Greek government misses nearly all their economic targets laid out in the deal. Regardless, the market is set to continue its rally as the deal will work to calm the markets for a short period.
Asian markets rallied on news of the deal, seeing most indexes post solid gains. In Europe, the markets reacted positively with the Stoxx 600 Europe up .84% in intra-day trading.
In commodities, crude futures are rallying off the positive news. Nymex futures are up $1.12 to $99.79 per barrel.
Gold prices also reacted positively sending the metal up $6.80 to $1,732 per ounce.
Stocks to watch today include Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), National Bank of Greece (NYSE:NBG), Zynga Inc. (NASDAQ:ZNGA), Netflix, Inc. (NASDAQ:NFLX), Apple Inc. (NASDAQ:AAPL), Caesars Entertainment Corporation (NASDAQ:CZR) and Trina Solar Limited (NYSE:TSL).
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is up 7.76% in pre market trading at $111.00. REGN shares are rallying this morning after the company reported fourth quarter results. Regeneron beat EPS estimates by $0.23 and missed on revenue. The company also raised its forecast for Eylea sales to $250 million to $300 million. The company has a market cap of 9.29 billion.
National Bank of Greece (NYSE:NBG) is up 13.95% in pre market trading at $3.92. NBG shares are up today after Greece’s parliament approved deal. The whole market is set to open higher on this news. The company has a market cap of 16.44 billion.
Zynga Inc. (NASDAQ:ZNGA) is up 1.95% in pre market trading at $13.59. ZNGA shares are up today following Greek deal. ZNGA shares have rallied in recent weeks more than $4 a share thanks to all the coverage the Facebook IPO had been receiving. The company has a market cap of 9.32 billion.
Netflix, Inc. (NASDAQ:NFLX) is up 1.23% in pre market trading at $125.46. NFLX shares have fallen about $10 a share in recent days. Netflix stock is still um more than $50 a share on the year. NFLX trades 8.6 million shares a day on average. The company has a market cap of 6.87 billion.
Apple Inc. (NASDAQ:AAPL) is up 1.11% in pre market trading at $498.96. AAPL has traded 104 thousand shares already today and trades 12.5 million shares a day on average. AAPL is looking for that elusive $500 mark and could very well hit it today. In the past week, AAPL shares are up nearly $40 a share. The company has a market cap of 460.05 billion.
Caesars Entertainment Corporation (NASDAQ:CZR) is up 3.93% in pre market trading at $14.80. CZR had its IPO last week and started at $9. The stock quickly ran to over $16 before settling back down a bit. CZR has traded 5.2 million shares a day on average. The company has a market cap of 1.02 billion.
Trina Solar Limited (NYSE:TSL) is up 9.46% in pre market trading at $11.11. TSL shares are up today after the company received a “made in EU” certificate from ICIM. TSL shares ran more than 50% last week before coming back down to around 10%. If pre market is any indicator, TSL is set up for another run up. The company has a market cap of 714.98 million.
About Kyle Pinder
