Stock Futures Look to Recover Yesterday’s Losses, Stocks to Watch: NOK, BZH, ARNA, PSEC, OCZ, OREX

Wall StreetAfter a negative performance yesterday, the major indices are looking to rebound this morning into the open. All eyes will be on the FOMC minutes slated for release at 2pm EST. While the Fed opted to not go forward with QE3, investors will be looking for hints of possible future stimulus programs contained within the minutes.

A quick snapshot of the futures has the Dow up 29, the Nasdaq essentially flat and the S&P up 2 points.

Europe continues to play the role of possible spoiler in any rally. Spain announced a new round of austerity measures that will surely have people back in the streets. In a bit of this can’t be true but actually is, Berlusconi, former PM of Italy, is hinting at another run of 2013. At least Italy’s party scene will make a comeback. Sign Up For Free Stock Alerts

Asian markets finished their trading day mixed, with Japan and Australia losing ground for the fifth straight session. China rebounded somewhat as did Hong Kong.

In commodities, oil prices continue to trade in the $85 range. Gold prices are giving up some ground in early trading, off $5 per ounce to $1574.80.

Stocks to Watch

Nokia Corporation (NYSE:NOK) is up 3.33% in pre market trading at $1.86. NOK has traded 2.3 million shares so far today and trades 42.3 million shares a day on average. NOK shares have fallen nearly 15% in the last five days and more than 66% in the past 6 months. The company has a market cap of 6.68 billion.

Beazer Homes USA Inc. (NYSE:BZH) is down 1.68% in pre market at $2.93. BZH has traded 2.2 million shares this morning and trades 3.03 million shares a day on average. BZH shares are falling this morning after the company announces proposed offering of $275 million senior secured notes. The company has a market cap of 295.13 million.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) is down 3.98% today at $11.34. ARNA has traded 419 thousand shares in pre market and trades 24.2 million shares a day on average. ARNA are pulling back slightly in pre market after the stock has rallied nearly 20% since last Tuesday. The company has a market cap of 2.16 billion.

Prospect Capital Corporation (NASDAQ:PSEC) is down 6.89% this morning at $11.08. PSEC has traded 396 thousand shares so far today and trades 1.3 million shares a day on average. PSEC shares are down this morning on news of an offering of 21 million shares. The company has a market cap of 1.45 billion.

OCZ Technology Group, Inc. (NASDAQ:OCZ) is down 14.68% in pre market at $4.65. OCZ has traded 400 thousand shares so far today and trades 2.2 million shares a day on average. OCZ shares are falling this morning after the company missed earnings estimates by $0.05, misses on revenue, but its second quarter guidance did beat. The company has a market cap of 366.93 million. Sign Up For Free Stock Alerts

Orexigen Therapeutics, Inc. (NASDAQ:OREX) is up 7.69% this morning at $6.44. OREX has tarded 198 thousand shares so far today and trades 2.4 million shares a day on average. OREX shares are up today as it says its study for its obesity drug was filling up faster than expected. The company has a market cap of 405.31 million.

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About Rachel Brook

Rachel Brook is an up and coming financial writer focusing on commodity price inflation and how the overall market reacts to the price swings. She also covers emerging markets in Africa and SE Asia.

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