Stocks are getting a boost today today from a Greek poll and China’s move towards more stimulus measures. The Greek poll in question showed a majority of Greeks wanting to stay in the EU. Granted the devil is in the details and the same poll shows the anti-bailout parties with growing leads heading into the June elections. China’s move into more growth oriented policies is also helping bolster stocks.
Domestically the data is more muddled. The Case Shiller index showed that housing prices had not dipped further. The markets are taking an optimistic view of that as any silver lining for housing is a good sign. Consumer confidence did take an unexpected hit with the print missing expectations. Consumers are becoming more pessimistic about future conditions. More than likely this is due to the steady diet of poor news out of the EU entering the psyche of the consumer. Sign Up For Free Alerts
A current snapshot of the market has the Dow up 87, off its session highs. The Nasdaq and S&P are both up 17 and 8 points respectively.
Hot Stocks
LeCroy Corp. (NASDAQ:LCRY) is up 55.25% today at $14.19. LCRY has traded 11.2 million shares so far today, way above its average volume of 62 thousand shares. LCRY shares are rallying today as the company agrees to Teledyne takeover. The company has a market cap of 236.96 million.
Interline Brands Inc. (NYSE:IBI) is up 39.74% this morning at $25.07. IBI has traded 5.09 million shares today, 50 times its average volume. IBI shares are up today on news that it will be acquired by investment firms. The company has a market cap of 799.18 million. Sign Up For Free Alerts
China Techfaith Communications Technology Limited (NASDAQ:CNTF) is up 29.70% today at $1.31. CNTF has traded 1.1 million shares so far today, 10 times its daily average. CNTF were scheduled to announce earnings this morning. The company has a market cap of 69.87 million.
A123 Systems, Inc. (NASDAQ:AONE) is up 19.80% this morning at $1.21. AONE has traded 1.8 million shares so far today and trades 3.08 million shares a day on average. AONE shares are up nearly $0.40 a share in the past few days. The company has a market cap of 177.71 million.
Genetic Technologies Ltd. (NASDAQ:GENE) is up 13.07% today at $5.45. GENE has traded 1.6 million shares so far today, way above its daily average of 199 thousand shares. GENE shares continue to rise since releasing a postiive business update on its BREVAGen genetic test for breast cancer. The company has a market cap of 75.10 million.
VimpelCom Ltd. (NYSE:VIP) is up 11.49% today at $8.15. VIP has traded 3.09 million shares so far today and trades 2.1 million shares a day on average. VIP shares are bouncing back today after the stock tanked on Friday following a Russian court’s decision to ban the company from paying dividends for their profits last year. The company has a market cap of 13.02 billion. Sign Up For Free Alerts
About Kyle Pinder
