Stocks are off their early highs this morning after a disappointing home sales report. Apple’s earnings miss has sent tech stocks lower with the Nasdaq down about 0.5%. New home sales fell more than 8% in June to a seasonally adjusted 350,000 annual rate. This drop was the biggest of the year and economists were predicting around 370,000 units sold.
The Dow is the only stock average in the green right now and is up 58 points. The Nasdaq and S&P 500 are down 13 points and 2 points respectively.
Hot Stocks
Sunshine Heart Inc. (NASDAQ:SSH) is up 15.69% today at $11.63. SSH has traded 523 thousand shares this morning, nearly 5 times the stock’s average volume. SSH shares are up today after the company received CE Mark for C-Pulse heart assist system. The company has a market cap of 72.81 million.
Mitek Systems Inc. (NASDAQ:MITK) is up 25.07% this morning at $3.65. MITK has traded 679 thousand shares so far today and trades 924 thousand shares a day on average. MITK shares are up today after posting a 7% increase in revenue in its latest earnings. The company did miss on earnings by $0.02 per share. The company has a market cap of 93.52 million.
Riverbed Technology, Inc. (NASDAQ:RVBD) is up 23.92% in early trading at $18.03. RVBD has traded 10.5 million shares so far today, well above its daily average of 4.2 million shares. RBVD shares are rallying today after the company reiterated annual sales estimates. Riverbed expects to post a 15% in annual revenue from last year. The company has a market cap of 2.83 billion.
InvenSense, Inc. (NYSE:INVN) is up 20.36% today at $11.06. INVN has traded 2.3 million shares this morning, above its daily average of 1.6 million shares. INVN shares are up today after posting quarterly results above estimates. The company has a market cap of 908.03 million.
Lumber Liquidators Holdings, Inc. (NYSE:LL) is up 19.89% today at $39.06. LL has traded 2.03 million shares so far today, well above its daily average of 630 thousand shares. LL shares are up today after posting quarterly results late yesterday. Lumber Liquidators posted a big beat on earnings with $0.43 per share, beating estimates of $0.15 per share. The company has a market cap of 1.08 billion.
iRobot Corporation (NASDAQ:IRBT) is up 18.21% today at $23.04. IRBT has traded 728 thousand shares so far today, more than double its daily average of 327 thousand shares. IRBT shares are rising today after second quarter results beat expectations. The company has a market cap of 633.18 million.
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