NASDAQ Stocks Rallying Despite Down Market: EBTX, DUSA, MDSO, SHFL, OVTI, PRMW

Stocks slide the most in three months this morning as concerns that Greece and private bondholders may not meet an upcoming deadline grows. Bondholders have till Thursday night to accept a bond swap in which they would lose three-quarters of their bonds’ worth. The overall market is also looking overbought as there hasn’t been a meaningful pullback since the rally started late last year.

In early trading the Dow is down 159 points, the Nasdaq is down 37 points and the S&P 500 is down 17 points.

Encore Bancshares, Inc. (NASDAQ:EBTX) is up 35.35% at $20.17 today. EBTX has traded 375 thousand shares so far today, way above its daily average of 14 thousand shares. EBTX shares are up today after Cadence Bancorp announced the acquisition of Encore Bancshares for $250 million. The company has a market cap of 235.45 million.

Dusa Pharmaceuticals, Inc. (NASDAQ:DUSA) is up 20.75% this morning at $5.6150. DUSA has traded 478 thousand shares so far today, more than 4 times its daily average volume. DUSA shares are climbing today after the company announced their latest financial results. The company has a market cap of 139.02 million.

Medidata Solutions, Inc. (NASDAQ:MDSO) is up 14.38% this morning at $23.82. MDSO has traded 788 thousand shares so far today, more than 3 times its average volume. MDSO shares are climbing today after Medidata raised 2012 revenue forecast. The company has a market cap of 593.23 million.

Shuffle Master, Inc. (NASDAQ:SHFL) is up 18.53% today at $17.27. SHFL is up on heavy volume this morning with 1.7 million shares so far today, well above its daily average of 433 thousand shares. SHFL shares are up after announcing their latest quarterly results. Shuffle Master announced first quarter EPS of $0.14 per share, beating estimates of $0.11 per share. Revenue increased 28% to $56.1 million, beating estimates of $51.1 million. The company has a market cap of 931.56 million.

OmniVision Technologies, Inc. (NASDAQ:OVTI) is up 8.09% in early trading at $17.10. OVTI has traded 3.1 million shares so far today, well above its daily average of 2.2 million shares. OmniVision is up today after being upgraded by Robert Baird to outperform from neutral. The company has a market cap of 890.35 million.

Primo Water Corporation (NASDAQ:PRMW) is up 9.64% today at $2.73. PRMW has traded nearly 400 thousand shares so far today, already above its daily average of 378 thousand shares. Primo announced yesterday the debut of their new Flavorstation beverage appliances. The company has a market cap of 64.98 million.