Stocks are struggling in mid morning trading as investors worry over the slowing global economy. In Europe, Spain is expected to ask for a bailout as early as next weekend. There are reports however that Germany is urging Spain to wait. The latest jobs figures out of Spain showed unemployment jumped again in September.
The major stock averages are mixed right now with the Dow down 10 points, the Nasdaq up 13 points and the S&P 500 up 3 points.
MetroPCS Communications, Inc. (NYSE:PCS) is up 19.15% this morning at $13.71. PCS is seeing a lot of action today with 10.6 million shares traded already, 3 million shares more than its daily average. PCS shares are rallying today following a Bloomberg report saying that Deutsche Telekom is near deal with MetroPCS in U.S. The company has a market cap of 5.06 billion.
Cell Therapeutics, Inc. (NASDAQ:CTIC) is up 15.25% today at $2.57. CTIC has traded 4.3 million shares so far today, well above its daily average of 1.2 million shares. CTIC shares are rallying today after its brain cancer drug received orphan status. Shares have pulled back some this morning though after the stock gapped open at $2.69. The company has a market cap of 111.01 million.
Leap Wireless International Inc. (NASDAQ:LEAP) is up 9.74% today at $7.68. LEAP has traded 4.9 million shares so far today, more than double its normal trading volume. LEAP shares have jumped more than $1 a share over the past week. On Monday, Leap announced it added spectrum in Phoenix and Houston. The company has a market cap of 612.41 million.
Celgene Corporation (NASDAQ:CELGZ) is up 5.35% today at $3.15. CELGZ has traded 466 thousand shares so far today, 10 times its daily average volume. Celgene shares are up today after reporting its Abraxane drug study met its primary endpoint.
Delcath Systems, Inc. (NASDAQ:DCTH) is up 7.50% today at $1.8490. DCTH has traded 2.8 million shares so far today, more than double its daily average volume. DCTH shares were trading as high as $1.94 this morning before dipping some. The company has a market cap of 124.19 million.
Commercial Vehicle Group Inc. (NASDAQ:CVGI) is up 7.41% today at $7.54. CVGI has traded 1.2 million shares so far today, way above its daily average of 139 thousand shares. CVGI shares are bouncing today after falling $1 per share since last Wednesday. The company has a market cap of 211.28 million.