Spending data is giving a boost to the street today, though much of the increased spending comes at the expense of rising gas prices. The major indices are mostly trading flat, in or near positive territory. The dow is up 20 points to 13,166. The Nasdaq is off 10 points, while the S&P 500 is tacking on a point.
Growth concerns are creeping back into the market as Europe looks to expand their firewall. A Chinese slowdown on the demand front is giving a renewed rise of fear of a hard landing. If that was to occur it would set back the global recovery, though it is already sputtering along as is.
Hot Stocks to Watch
Spanish Broadcasting System Inc. (NASDAQ:SBSA) is up 44.37% this morning at $6.80. SBSA has traded 1.5 million shares so far today, way above its daily average of 192 thousand shares. Spanish Broadcasting System announced fourth quarter results earlier today. Fourth quarter revenue came in at $38.2 million, up from $34.9 million the year before. The company has a market cap of 49.85 million.
Sunesis Pharmaceuticals Inc. (NASDAQ:SNSS) is up 19.35% today at $2.9499. SNSS has traded more than a million shares this morning, more than 3 times its daily average. Sunesis announced late yesterday a $25 million Vosaroxin royalty agreement between the company and Royalty Pharma. The company has a market cap of 138.12 million.
Bacterin International Holdings, Inc. (AMEX:BONE) is up 10.86% in early trading at $2.45. BONE has traded 753 thousand shares so far today, more than double its daily average. BONE shares are up more $0.40 a share from a weekly low of $2.10. The company has a market cap of 99.65 million.
Immunogen Inc. (NASDAQ:IMGN) is up 7.42% today at $14.77. IMGN has traded 1.7 million shares so far today, 4 times its average volume. IMGN shares are up today after its partner Roche Holding said a breast cancer drug delayed the disease worsening in a study. The company has a market cap of 1.15 billion.
Towerstream Corporation (NASDAQ:TWER) is up 10.50 this morning at $4.63. TWER has traded 722 thousand shares so far today, well above its daily average of 471 thousand shares. TWER shares are up more than $0.60 a share since Tuesday. The company has a market cap of 247.02 million.
E-Commerce China Dangdang Inc. (NYSE:DANG) is up 4.13% today at $7.82. DANG has traded 1.2 million shares this morning and trades 2.8 million shares a day on average. DANG shares are up more than $0.80 per share this week. The company has a market cap of 621.69 million.
Cabot Oil & Gas Corporation (NYSE:COG) is up 2.78% today at $31.09. COG has traded 1.9 million shares so far today and trades 5.1 million shares a day on average. COG are up more than $1 a share from yesterday’s low. The company has a market cap of 6.49 billion.
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