Stocks are trading lower this afternoon as worries over Europe are back in the forefront. Despite today’s losses, the major stock indexes are on track to finish the week positive. Finance ministers in the eurozone agreed on a plan to lend Spain up to 100 billion euros to recapitalize their banks, but the exact size of the loan will not known until September. Spain’s ten year bond yields are hitting near record highs today as investors worry the country will eventually run out of money and will need a bailout.
The Dow is currently down 125 points, the Nasdaq is down 33 points and the S&P 500 is down 13 points.
Hot Stocks
Palo Alto Networks, Inc. (NYSE:PANW) Is up 34.74% today at $56.59. PANW has traded 6.01 million shares so far today. Palo Alto debuted on the stock market today and jumped more than 30% from its IPO price of $42 a share.
StemCells Inc. (NASDAQ:STEM) is up 10.71% this afternoon at $1.55. STEM has traded 6.01 million shares so far today, well above its daily average of 660 thousand shares. STEM shares have jumped more than 70% over this week after the company announced positive results from an Alzheimer’s study. The company has a market cap of 40.78 million.
SanDisk Corp. (NASDAQ:SNDK) is up 12% today at $39.29. SNDK has traded 18.09 million shares so far today, double its daily average. SNDK shares are rallying today thanks to beating estimates for second quarter results. The company has a market cap of 9.60 billion.
Dole Food Company Inc. (NYSE:DOLE) is up 12.46% today at $9.93. DOLE has traded 2.06 million shares so far today, well above its daily average of 673 thousand shares. DOLE shares are up today on news the company is considering selling or spinning off its packaged foods business. The company has a market cap of 871.02 million.
Gardner Denver Inc. (NYSE:GDI) is up 7.67% this afternoon at $52.94. GDI has traded 2.1 million shares so far today, more than double its daily average volume. GDI shares are up today after posting an $0.11 a share beat on second quarter results. Gardner Denver also reported lower than expected revenue and guidance for the third quarter was below expectations. The company has a market cap of 2.65 billion.
Baker Hughes Incorporated (NYSE:BHI) is up 9.15% today at $45.57. BHI has traded 16.4 million shares so far today, 3 times its daily average. BHI shares are up today on positive earnings. The company has a market cap of 20.02 billion.
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