Today’s rally is all about QE hopes. The lackluster data coupled with EU turmoil is feeding into the backdrop of expectations. With the meeting set for next week, investors are definitely hoping for more than subtle hints. The labor market is deteriorating and the a Greek exit from the Euro is becoming increasingly likely.
A quick look at the major indices has the Dow up 94, the Nasdaq 13 and the S&P 9. Sign Up For Free Stock Alerts
Biostar Pharmaceuticals, Inc. (NASDAQ:BSPM) is up 22.45% today at $1.7970. BSPM has traded 692 thousand shares so far today, well above its daily average of 84 thousand shares. BSPM shares are back up to yesterday’s high one day after announcing it will conduct clinical trials for Viacom drug with Fmmu. The company has a market cap of 16.73 million.
General Moly, Inc. (NYSE:GMO) is up 19.11% today at $3.2399. GMO has traded 850 thousand shares so far today, more than double its daily average volume. GMO shares are up today after receiving a favorable court ruling on water rights for its Mt. Hope molybdenum mine. The company has a market cap of 298.29 million.
Quest Software Inc. (NASDAQ:QSFT) is up 7.77% this morning at $25.72. QSFT has traded 8.5 million shares in early trading, nearly 10 times its average volume. QSFT shares are up today after the company announced it received a $2.14 billion bid from a “strategic” bidder. Insight Venture Partners, which had offered $23 a share, has three days to respond with a more lucrative deal otherwise Quest said it would terminate the Insight deal. The company has a market cap of 2.17 billion. Sign Up For Free Stock Alerts
MIPS Technologies Inc. (NASDAQ:MIPS) is up 7.09% today at $6.65. MIPS has traded 739 thousand shares so far today and trades 976 thousand shares a day on average. MIPS shares are rising this morning on licensing deal with Chinese chipmaker. The company has a market cap of 352.47 million.
The Kroger Co. (NYSE:KR) is up 3.90% this morning at $22.12. KR has traded 7.3 million shares so far today, above its daily average of 5.3 million shares. KR shares are up today after it beat Wall Street profit estimates for its recent quarter and raised its 2012 earnings target. The company has a market cap of 12.40 billion.
Edwards Lifesciences Corp. (NYSE:EW) is up 6.12% today at $96.18. EW has traded 1.9 million shares so far today, well above its daily average of 1.1 million shares. EW shares are up today after receiving FDA approval for its Sapien transcatheter heart valve. The company has a market cap of 11.09 billion.
About Martin Stephenson
