Another day, still the same Euro crisis. Markets across Europe are getting slammed this morning as both Italy and Spain deal with spiking bond yields. The Greek election looms large this weekend, though their stock market did spike today on rumors the bailout would not be scrapped. Market watchers miss the point there. They all want the money. They just don’t want the conditions.
A quick look at the major indices pre market has the Dow futures down 3, the Nasdaq down nearly 2 and the S&P essentially flat. Sign Up For Free Stock Alerts
Domestically the jobs picture is becoming bleaker. Jobless claims jumped 6k to 386k after an upward revision of last week’s numbers. Still under the 400k level most economists see as a growing labor market, but from a perception standpoint it is getting decidedly weaker.
Other domestic data that was just released included the CPI. This number fell rather drastically due to the sharp drop in gasoline prices. So consumers are getting a bit of relief at the pump.
Commodities are mostly flat this morning with oil prices ticking down a bit. Nymex crude futures are down 6 cents to $82.56. Gold prices are up $2.20 to $1621 per ounce.
Stocks to Watch
Nokia Corporation (NYSE:NOK) is down 9.68% in pre market trading at $2.52. NOK has traded 914 thousand shares this morning and trades 40.1 million shares a day on average. NOK shares are tumbling this morning as it cuts its outlook and announces it plans to cut 10,000 jobs globally. The company has a market cap of 10.35 billion.
Cedar Fair, L.P. (NYSE:FUN) is down 1.87% in pre market trading at $27.33. FUN has traded 131 thousand shares so far today and trades 279 thousand shares a day on average. FUN shares are pulling back slightly in pre market trading after the stock jumped nearly $2 a share this week. The company has a market cap of 1.54 billion. Sign Up For Free Stock Alerts
Vodafone Group Public Limited Company (NASDAQ:VOD) is up 0.39% this morning at $27.30. VOD has traded 81 thousand shares in pre market and trades 8.2 million shares a day on average. VOD shares have rallied nearly a buck over the past five days. VOD shares have been up lately after Verizon unveiled new shared data plan for multiple devices. The company has a market cap of 135.01 billion.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) is down 1.30% this morning at $7.97. ARNA has traded 44 thousand shares so far today and trades 16.7 million shares a day on average. ARNA shares have rallied as much as $2 a share over the past five days. ARNA shares have been surging lately as its key FDA drug approval decision date nears. The company has a market cap of 1.47 billion.
Dendreon Corp. (NASDAQ:DNDN) is up 3.94% in pre market trading at $7.39. DNDN has traded 47 thousand shares so far today and trades 6.3 million shares a day on average. Summer Street Research initiated coverage on DNDN yesterday and gave it an initial rating of buy. The company has a market cap of 1.05 billion. Sign Up For Free Stock Alerts
Zynga, Inc. (NASDAQ:ZNGA) is up 0.30% this morning at $5.06. ZNGA has traded nearly 50 thousand shares in pre market and trades close to 20 million shares a day on average. ZNGA shares have fallen more than 35% in the past month as investors wonder if Facebook gaming has past its peak. The company has a market cap of 3.71 billion.
Sirius XM Radio Inc. (NASDAQ:SIRI) is up 0.27% in pre market trading at $1.83. SIRI has traded 12 thousand shares this morning and trades 53.8 million shares a day on average. SIRI shares have been slowly trending lower over the past month, losing nearly 10%. The company has a market cap of 6.94 billion.
About Danny Fisher
