Stocks are rebounding heading into midday led by energy stocks. Gains are being limited today by disappointing data from the housing sector. Home sales fell 1.6% last month to 313,000, analysts were expecting to see sales come in at 325,000. The average price of a home rose 8.3% in February to $233,700, the highest in about 8 months.
The stock market has been in decline much of the week as investors voice their concerns over a slowdown in China and the euro zone’s weak economy.
The major stock indices have turned mostly positive in the past hour with the Dow up 31 points, the Nasdaq still in the red by 5 points and the S&P 500 has gained 2 points.
NYSE Stocks to Watch
Sandridge Energy Inc. (NYSE:SD) is up 6.88% today at $8.15. SD has traded 16.3 million shares so far today, well above its daily average of 13.9 million shares. Sandridge shares have dropped nearly $1 over this week. There have been some unconfirmed rumors about a takeover which could be driving the price higher today. The company has a market cap of 3.24 billion.
Monster Worldwide, Inc. (NYSE:MWW) is up 8.01% today at $10.25. MWW has traded 6.1 million shares around midday, 2 million shares more than its daily average. Monster’s CEO said in an interview the company is open to selling part or all of the company and will have data ready for potential buyers in the near future. The company has a market cap of 1.20 billion.
Hecla Mining Company (NYSE:HL) is up 3.60% today at $4.61. HL has traded 3.9 million shares so far today and trades 7.1 million shares a day on average. Hecla Mining is in the silver industry and could be rallying today due to the rally in precious metals including silver. The company has a market cap of 1.32 billion.
Frontline Ltd. (NYSE:FRO) is up 6.76% in midday trading at $7.26. FRO has traded 2.8 million shares so far today, well above its daily average of 2.4 million shares. FRO shares are bouncing back today after falling about $0.80 yesterday and early this morning. The company has a market cap of 552.79 million.
Superior Energy Services, Inc. (NYSE:SPN) is up 3.28% today at $26.76. SPN has traded 1.8 million shares so far today and trades 3.3 million shares a day on average. SPN shares have taken a $4 hit over the past month and is trying to bounce back today. The company has a market cap of 4.22 billion.
Camelot Information Systems (NYSE:CIS) is up 5.86% at midday at $3.25. CIS has traded 1.6 million shares so far today, 8 times its daily average. Camelot Information Systems announced unaudited fourth quarter results this morning. Net revenue came in at $59.7 million in the fourth quarter, slightly less than the year before which was $60 million. Adjusted operating loss for the fourth quarter was $934,000 compared to $12.8 million in the same quarter a year ago. The company has a market cap of 149.38 million.
McEwen Mining Inc. (NYSE:MUX) is up 9.63% at $4.10. MUX has traded 1.6 million shares so far today and trades 2.8 million shares a day on average. McEwen Mining is heavily involved in metals and is rallying alongside gold and silver today. The company has a market cap of 657.29 million.
About Kyle Pinder
