Stocks bounce today despite downgrades to major banks. Moody’s Investor service downgraded 15 of the world’s largest banks on Thursday. These downgrades have been expected for months after Moody’s placed the banks on its watch list with a negative outlook. Sign Up For Free Stock Alerts
There was some positive news out of Europe today as the ECB relaxed some its lending rules, specifically what it would accept as collateral.
A quick look at the market this morning shows the Dow up 40 points, the Nasdaq up 9 points and the S&P 500 up 3 points.
Hot Stocks
Harvest Natural Resources Inc. (NYSE:HNR) is up 70.70% today at $8.32. HNR has traded 3.7 million shares so far today, well above its daily average of 600 thousand shares. HNR shares are rallying this morning after announcing it will sell its interests in Venezuela for $725 million in cash. The company has a market cap of 318.72 million.
Alexza Pharmaceuticals Inc. (NASDAQ:ALXA) is up 31.02% today at $3.57. ALXA has traded 1.3 million shares so far today, 10 times its average volume. ALXA shares are up today as teh company resubmits drug application.
BioMimetic Therapeutics Inc. (NASDAQ:BMTI) is up 14.60% this morning at $3.61. BMTI has traded 708 thousand shares so far today, 5 times its normal volume. BMTI shares have rallied about $0.80 a share over the past few days. The company has a market cap of 102.36 million.
NPS Pharmaceuticals, Inc. (NASDAQ:NPSP) is up 10% this morning at $7.92. NPSP has traded 1.1 million shares so far today, double its average volume. NPSP shares are up today on news that a European panel recommended their Revestive drug receive marketing approval. The company has a market cap of 684.05 million.
First Solar, Inc. (NASDAQ:FSLR) is up 9.15% today at $15.87. FLSR has traded 5.6 million shares so far today and trades 6.6 million shares a day on average. First Solar shares are rallying today on after LA county approved the company to start module installation at AV Solar Ranch One. The company has a market cap of 1.39 billion. Sign Up For Free Stock Alerts
Galena Biopharma, Inc. (NASDAQ:GALE) is up 3.29% today at $1.57. GALE has traded 593 thousand shares so far today and trades 3.06 million shares a day on average. The company has a market cap of 103.72 million.
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