It is all about Europe today. With a thin economic data slate today, the market is being driven by events and headlines emerging out of Europe. A recent report has EU countries considering the June payment of bailout funds due to the political turmoil. Plus news out of Spain has the government set to possibly nationalize one of their leading banks.
Right now the Dow is near its session lows, off 147. The Nasdaq and S&P are following the Dow lower, down 35 and 17 points respectively.
Hot Stocks
Cost Plus Inc. (NASDAQ:CPWM) is up 21.68% this morning at $21.89. CPWM has traded 7.8 million shares already today on news that Bed Bath & Beyond will buy the company for $495 million, a 22% premium. CPWM typically trades 308 thousand shares a day on average. The company has a market cap of 492.31 million. Sign Up For Free Alerts
Mitek Systems Inc. (NASDAQ:MITK) is up 11.36% in early trading at $2.94 MITK has traded 408 thousand shares so far today and trades 1.2 million shares a day on average. MITK shares are bouncing back today after the stock fell from $3.20 to $2.40 over the past five days. The company has a market cap of 76.03 million.
Quest Software Inc. (NASDAQ:QSFT) is up 9.19% today at $24.94. QSFT has traded 2.78 million shares so far today, 3 times its average volume. Quest Software announced today it received multiple buyout proposals during ‘shop period.’ The company has a market cap of 2.07 billion.
Sequenom Inc. (NASDAQ:SQNM) is up 4.74% this morning at $5.07. SQNM has tarded 1.8 million shares so far today and trades 3.5 million shares a day on average. Sequenom said Conventry Health Care Inc will provide coverage for its prenatal test that detects certain chromosomal abnormalities including Down Syndrome. The company has a market cap of 580.72 million.
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) is up 3.56% today at $4.94. KTOS has tarded 1.6 million shares so far today, 8 times its daily average. Kratos announced today it was awarded a contract to deploy security system at world headquarters of $25 billion global enterprise. Kratos also announced it has priced a 20 million share offering at $5 per share. The company has a market cap of 159.96 million. Free Stock Alerts
Phillips 66 (NYSE:PSX) is up 3.95% today at $31.17. PSX has traded 3.1 million shares so far today and trades 4.05 million shares a day on average. PSX shares are bouncing back today after falling about $2 a share over the past week.
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