Frustration at the local level finally boiled over into the political process in France and Greece over the weekend. In France, Sarkozy was ousted in favor of the socialist candidate Hollande. Greece saw their pro-bailout parties lose their ability to form a clear cut ruling majority. Greece’s outcome has more of an immediate impact in the short-term, while the French result is more of a wait and see.
Hollande ran on political promises that would lead the country away from more austerity measures in favor of more growth oriented policies. This may cause a rift with German Chancellor Merkel over the ECB rescue pacts.
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Domestically, the lack of economic data today has all eyes on Europe to see what shakes out. The Dow is currently down 57 points, the Nasdaq 10 and the S&P 4.
Hot Stocks
Insmed Incorporated (NASDAQ:INSM) is up 65.93% in early trading at $4.48. INSM has seen a significant increase in volume and share price today as the FDA lifts hold on trails of the company’s lung drug. INSM has traded 886 thousand shares so far today, way above its daily average of 70 thousand shares. The company has a market cap of 110.39 million.
SGOCO Group, Ltd. (NASDAQ:SGOC) is up 21.64% this morning at $2.5301. SGOC has tarded 184 thousand shares this morning and trades 206 thousand shares a day on average. SGOC shares have been extremely volatile over the past month as the stock jumped from under $1 a share to over $3 and back down to $2. The company has a market cap of 41.36 million.
Astrotech Corp. (NASDAQ:ASTC) is up 12.62% today at $1.0699. ASTC has traded 377 thousand shares so far today, well above its daily average of 40 thousand shares. Astrotech Corp. reported third quarter results earlier this morning. The company posted a net income of $1 million, or $0.05 per share for the third quarter. The company has a market cap of 20.95 million.
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Infosonics Corp. (NASDAQ:IFON) is up 11.27% today at $1.58. IFON has traded 319 thousand shares so far today, well above its daily average of 65 thousand shares. IFON shares have jumped more than 100% since last Thursday following good first quarter results. The company has a market cap of 23.19 million.
Kingold Jewelry, Inc. (NASDAQ:KGJI) i up 10.91% this morning at $2.44. KGJI is seeing heavy volume today with 916 thousand shares traded, nearly 5 times its average volume. KGJI shares are up 41.86% over the past five days thanks to positive first quarter results last Wednesday. The company has a market cap of 129.58 million.
THQ Inc. (NASDAQ:THQI) is up 7.82% today at $0.6685. THQI has tarded 510 thousand shares so far today and trades 1.7 million shares a day on average. THQI shares are up today following the announcement of Company of Heroes 2 which is set for release in 2013. The company has a market cap of 47.04 million.
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NetSol Technologies, Inc. (NASDAQ:NTWK) is up 6.59% this morning at $0.5756. NTWK has traded 1.2 million shares so far today, well above its daily average of 926 thousand shares. NetSol announced third quarter results this morning with earnings of $0.03 per diluted share. The company has a market cap of 32.92 million.
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