Investors will be glad to see May end. The never ending Euro saga coupled with lackluster data has the major indices retreating this morning. Overall is the losses hold, the Dow will be down over 6% for the month, the Nasdaq 7.5% and the S&P 6.6%.
Domestically the macro data is not helping the the markets at all. Jobless claims jumped higher, closing in on the 400k. The ADp report missed consensus of 150k, instead printing 133k. The anemic labor market with a housing market that refuses to recover is creating a sense that the recovery is faltering. Couple that with Europe’s soap opera rumor mill and the bears have definitely seized control in morning trading. Sign Up For Free Alerts
A quick look at the markets has the Dow down 63, the Nasdaq off 31 and the S&P down 11 points.
Hot Stocks
The Talbots Inc (NYSE:TLB) is up 93.02% this morning at $2.49. TLB has traded 28.5 million shares so far today, more than 20 times its average volume. Well it looks like Sycamore wants Talbots again as it announces this morning it will take Talbots private for $193 million. Talbots stock recently plummeted after Sycamore said it would not buy the company sending the stock down from $2.40 to below $1.40. A few days later they decide to announce they will buy them. The company has a market cap of 172.11 million.
Microvision Inc. (NASDAQ:MVIS) is up 39.27% today at $2.6601. MVIS has traded 1.8 million shares this morning, 6 times its normal volume. MVIS shares are rallying today on news the company receives $4 million purchase order from Pioneer Corporation. The company has a market cap of 46.37 million. Sign Up For Free Alerts
CE Franklin Ltd. (NASDAQ:CFK) is up 34.84% today at $12.23. CFK has traded 834 thousand shares so far today, way above its daily average of just 10 thousand shares. CFK shares are up today as National Oilwell Varco acquires the company for $240 million. The company has a market cap of 214 million.
CGI Group, Inc. (NYSE:GIB) is up 11.41% today at $22.75. GIB has traded 786 thousand shares so far today, 7 times its daily average. GIB shares are up this morning as they acquire Logica (IT company) for around $2.6 billion. The company has a market cap of 5.88 billion.
Rosetta Genomics, Ltd. (NASDAQ:ROSG) is up 6.90% today at $13.17. ROSG has traded 730 thousand shares so far today, above its daily average of 656 thousand shares. ROSG shares started the day as high as $13.80 and quickly sold off to $12.80.
Ciena Corp. (NASDAQ:CIEN) is up 6.13% this morning at $12.60. CIEN has traded 7.3 million shares so far today, 2 million shares more than its daily average. CIEN shares are up today as the company announces second quarter results. CIEN saw a smaller loss for the second quarter thanks to higher sales. Revenue rose to $477.6 million in the second quarter from $417.9 million. The company has a market cap of 1.25 billion. Sign Up For Free Alerts
About Kyle Pinder
