Hot Stocks to Watch: CRAY, JAZZ, HUSA, ARNA, OWW, SWKS

NYSE StocksIt is a tug of war on the market today after Amazon and Ford beat expectations , but GDP numbers showed slowing growth. The conflicting data has the market whipsawing between modest gains and losses. Plus it is Friday which has everyone looking for the weekend so volume is lacking conviction in either direction.

Europe continues to be on the minds of investors after Spain earned a downgrade from S&P after the close yesterday. The concern there is that they may have issues servicing debt going forward, and may have to intervene further with their financial institutions.

Overall the markets seem to be tempering their unbridled optimism of the first quarter into something a bit more realistic and cautious. Currently the major 3 indices are posting modest gains. The Dow is up 17, the Nasdaq is up 6 and the S&P is up fractionally. The S&P 500 is shooting for a close over 1400.

Hot Stocks to Watch

Cray Inc. (NASDAQ:CRAY) is up 20.45% this morning at $10.72. CRAY is seeing a huge spike in volume today as its first quarter results beat expectations. CRAY has traded 1.7 million shares so far today, well above its daily average of 243 thousand shares. Cray, Inc. reported first quarter revenue of $112.3 million, up from $39.9 million a year ago. Net income came in at $0.13 per share, up from a loss of $0.04 per share in 2011. The company’s revenue guidance came in above consensus at $430-450 million. The company has a market cap of 381.19 million.

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is up 15.49% today at $52.20. JAZZ has traded 2.1 million shares so far today, more than double its daily average. Jefferies raised their price target to from $64 to $74. Jazz Pharmaceuticals also announced yesterday it will buy EUSA for up to $700 million. The company has a market cap of 2.92 billion.

Houston American Energy Corp. (AMEX:HUSA) is up 12.70% this morning at $2.7387. HUSA has traded 1.6 million shares so far today and trades 700 thousand shares a day on average. HUSA stock bounced as high as $3.02 shortly after market open today and the stock is up nearly $1 a share in the past two days. The company has a market cap of 83.21 million.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) is up 11.63% today at $2.39. ARNA has traded 7 million shares so far today and trades 9.2 million shares a day on average. ARNA shares are popping today as multiple news outlets including Seeking Alpha and Motley Fool have written articles detailing data points that could lead to its weight loss drug being approved. The company has a market cap of 425.80 million.

Orbitz Worldwide, Inc. (NYSE:OWW) is up 7.67% this morning at $3.65. OWW has traded 151 thousand shares so far today and trades 185 thousand shares a day on average. Orbitz stock hit an intraday high of $3.75 shortly after market open and is up $0.50 a share this week. The company has a market cap of 384.04 million.

Skyworks Solutions Inc. (NASDAQ:SWKS) is up 7.29% today at $27.34. SWKS has traded 3.6 million shares this morning and trades 4.6 million shares a day on average. SWKS shares are rallying today as the company posted better than expected results for its second quarter. Skyworks reported revenue of $364.7 million, beating the Street’s view of $361 million. The company has a market cap of 5.14 billion.

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About Kyle Pinder

Kyle Pinder has has over five years trading and research experience in the large cap space. While still in grad school, Kyle trades daily and keep Active Investor up to date with the latest breaking news coming out of Wall Street and Washington.

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