Well that was quick. After futures were pointing higher for much of the morning, the market opened up and immediately went south. Most of this was due to the realization that the Spanish bank bailout, while buying time, had an unintended consequence. See when you offer a bailout without preset conditions, the previous bailout recipients with conditions cry foul. Enter Greece stage right. With elections fast approaching, the anti-bailout parties seized on this and are having a field day.
Domestically we have national Apple Day, also known as their developer’s conference. Nothing huge is expected out of it hardware wise. Expect the unveiling of iOS 6 and a refresh of the macbook lines. The next iPhone will probably be unveiled this fall due due to the recent launch of the iPhone 4S. Sign Up For Free Stock Alerts
A quick look at the major indices has the Dow down 43, the Nasdaq off 8 and the S&P down 4.
Hot Stocks
Micronetics Inc. (NASDAQ:NOIZ) is up 94.27% today at $14.55. NOIZ has traded 1.4 million shares so far today, way above its daily average of 5 thousand shares. NOIZ shares are rallying today as Mercury Computer Systems acquires the company for $14.80 per share. The company has a market cap of 66.57 million.
ZaZa Energy Corporation (NASDAQ:ZAZA) is up 31.38% today at $4.27. ZAZA has traded 1.4 million shares this morning, 7 times its daily volume. ZaZa Energy announced agreements with Hess this morning, including engagement for joint venture process. The company has a market cap of 319.86 million. Sign Up For Free Stock Alerts
Integramed America Inc. (NASDAQ:INMD) is up 20.55% today at $13.67. INMD has traded 1.2 million shares so far today, well above its daily average of 21 thousand shares. INMD shares are trading higher today as the company goes private for $170 million. The company has a market cap of 164.09 million.
Zalicus Inc. (NASDAQ:ZLCS) is up 7.94% this morning at $1.36. ZLCS has traded 2.3 million shares so far today, 600 thousand shares so far today. ZLCS shares have rallied nearly $0.40 a share over the past week. The company has a market cap of 152.71 million.
Kingold Jewelry, Inc. (NASDAQ:KGJI) is up 8.57% this morning at $2.66. KGJI has traded 1.3 million shares so far today, 4 times its daily average. KGJI shares are up $0.40 a share over the past few days. The company has a market cap of 139.67 million.
Anthera Pharmaceuticals, Inc. (NASDAQ:ANTH) is up 5.23% today at $2.2414. ANTH has traded 336 thousand shares so far today and trades 608 thousand shares a day on average. ANTH shares have jumped $0.25 a share since last Tuesday. The company has a market cap of 93.25 million. Sign Up For Free Stock Alerts
AU Optronics Corp. (NYSE:AUO) is up 4.76% this morning at $3.8550. AUO has traded 568 thousand shares in early trading and trades 1.17 million shares a day on average. AUO shares are bouncing today as it neared its 52 week low last week. The company has a market cap of 3.40 billion.
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