Looks like the bears decided to return to the party. After a multi-session rally, the bulls are taking a backseat to the widespread selling on the major indices. The EU is coming back into focus today with Spanish markets hitting a 3-year low. This is causing Spanish default insurance to set a record today.
Domestically, sentiment took a hit as consumers are starting to feel the pinch of rising gas prices. Throw in the Chinese miss on growth expectations and you have all the trappings of a Friday the 13th on Wall Street.
Currently the Dow is down 94, the Nasdaq is dropping 36 and the S&P is off 12.
Hot Stocks
Primo Water Corporation (NASDAQ:PRMW) is up 38.94% today at $2.22. PRMW has seen heavy volume today with over 2 million shares traded this morning. That’s about 5 times its average volume. Primo Water announced today it has received a commitment from a senior lender to enter into a new long-term $20 million senior revolving credit facility. The company has a market cap of 51.96 million.
Joe’s Jeans Inc. (NASDAQ:JOEZ) is up 14.56% this morning at $1.4205. JOEZ has traded over a million shares so far today, double its daily average. JOEZ shares are rallying today after the company posted quarterly earnings yesterday. Joe’s Jeans reported 23% increase in net sales for the first quarter. The company has a market cap of 92.37 million.
Sunesis Pharmaceuticals Inc. (NASDAQ:SNSS) is up 10.47% today at $3.0680. SNSS has traded over a million shares so far today, 3 times its daily average. Sunesis was initiated with a buy rating by Cantor Fitzgerald on Thursday. The company has a market cap of 141.35 million.
Amyris, Inc. (NASDAQ:AMRS) is up 8.03% today at $3.90. AMRS has traded 395 thousand shares and 449 thousand shares a day on average. AMRS shares fell about $0.40 a share earlier this week before bouncing back today. The company has a market cap of 216.03 million.
Cheniere Energy, Inc. (AMEX:LNG) is up 7.39% this morning at $16.85. LNG has traded 8.8 million shares, 2 million shares more than its daily average. Cheniere Energy is expected to become the sole exporter of fuel from shale. The company is also awaiting for approval from the U.S. on LNG plant according to Bloomberg. The company has a market cap of 2.15 billion.
Safeway Inc. (NYSE:SWY) is up 3.05% today at $21.30. SWY is up on heavy volume with 10.3 million shares traded, above its daily average of 8.1 million shares. SWY shares have jumped more than $2 a share this week. The company has a market cap of 5.68 billion.
About Kyle Pinder
