So much for the housing recovery. If Europe was not enough of a concern, the pending home sales index is sure to give investors pause. An index of pending home sales saw its first drop in four months, deepening the already dark mood that is pervasive on the street today.
Internationally, the mood is especially dark as Spanish bond yields reach unsustainable levels. A plan is being floated to allow the permanent rescue fund to directly recapitalize ailing EU banks. Currently the fund can only lend out the money to the member states who can then bail out ailing banks. This would make the process more streamlined. Sign Up For Free Alerts
Another part of the proposal is common EU bonds, which Germany is strongly against. As the strongest economy in the EU, they do not want to be set up to foot the bill of ailing member states.
A current snapshot of market has the Dow down 151, the Nasdaq 42 and the S&P 18.
Hot Stocks
Neonode, Inc. (NASDAQ:NEON) is up 28.87% today at $6.16. NEON has traded 2.7 million shares so far today, way above its daily average of 148 thousand shares. Neonode is scheduled to make a presentation later today at Cowen & Co.’s Technology, Media and Telecom Conference in New York. The company has a market cap of 198.78 million.
The Fresh Market, Inc. (NASDAQ:TFM) is up 11.32% this morning at $54.26. TFM has traded 902 thousand shares so far today, 3 times its average volume. TFM shares are up today as the company announced first quarter results. The Fresh Market announced EPS of $0.40, beating estimates of $0.35. Revenue rose nearly 23% to $324.8 million, beating estimates of $310.29 million. The company has a market cap of 2.63 billion. Sign Up For Free Alerts
IsoRay, Inc. (AMEX:ISR) is up 13.67% today at $1.3201. ISR has traded 3.8 million shares this morning, way above its average volume of 137 thousand shares. ISR shares have rallied nearly 100% in the past two days. IsoRay announced on Tuesday that its Cesium-131 prostate cancer treatment was featured on the Discovery Channel. The company has a market cap of 39.85 million.
Osiris Therapeutics, Inc. (NASDAQ:OSIR) is up 10.08% today at $7.14. OSIR has traded 813 thousand shares so far today, 8 times its average volume. OSIR shares are rallying today on news that FDA clears reimbursement pathway for wound treatment. The company has a market cap of 233.77 million.
Digital Generation, Inc. (NASDAQ:DGIT) is up 9.19% this morning at $9.88. DGIT has traded 1.02 million shares so far today, 3 times its average volume. DGIT shares continue to rise this week on reports the company is weighing a potential sale and has seen interest from several private equity firms. The company has a market cap of 272.72 million.
FuelCell Energy Inc. (NASDAQ:FCEL) is up 8.11% today at $1.20. FCEL has traded 1.9 million shares this morning and trades 2.1 million shares a day on average. FuelCell Energy announced service agreement renewals yesterday. The company has a market cap of 169.12 million. Sign Up For Free Alerts
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) is up 3.06% today at $6.39. ARNA has traded 7.1 million shares so far today and trades 14.1 million shares a day on average. ARNA shares are up about 8% over the past week as it gets closer to its PDUFA date of July 17th. The company has a market cap of 1.16 billion.
About Kyle Pinder
