Stock Futures Negative on G20 News. Stocks to Watch: LNG, CHTP, PCS, LOW, NOK, ATPG, AAPL

Stock Futures

Over the weekend the G20 meeting of finance ministers decided to delay expansion of IMF funding until Europe increased the size of its own rescue package. They pressed European leaders to shore up the firewall to contain any spillover over the sovereign debt crisis. Dow futures are currently down 43 points to 12,918. Nasdaq 100 futures are off 9.50 points to 2,592. S&P 500 futures are rounding out the decline, down 5.75 points to 1,357.50.

The European markets are expected to be in sharp focus this week. Numerous events such as bond auctions and votes on the Greek bailout will take center stage this week. The German Parliament is expected to vote on the package this week. While it is expected to pass, investors should pay close attention in case the debate shifts the outcome.

The economic data a calendar is fairly light today, with pending home sales data slated for release at 10am EST.

Oil prices are shedding some of their recent gains this morning. Concern over Iran had driven up prices to a 9-month high. Nymex futures are currently down $1.16 to $108.64.

The concern over gas prices is having a spillover effect of the broader economy. The worry is that f the prices get any higher consumers will have their income eroded and their ability to purchase other goods and services.

On Saturday, Warren Buffet announced via his shareholder letter that he had picked a successor. He stressed that he is in perfect health for an 81-year old and that he would not be going anywhere soon.

Stocks to watch today include Cheniere Energy, Inc. (AMEX:LNG), Chelsea Therapeuctics International Ltd. (NASDAQ:CHTP), MetroPCS Communications Inc. (NYSE:PCS), Lowe’s Companies, Inc. (NYSE:LOW), Nokia Corporation (NYSE:NOK), ATP Oil & Gas Corporation (NASDAQ:ATPG) and Apple Inc. (NASDAQ:AAPL).

Cheniere Energy, Inc. (AMEX:LNG) is up 19.57% in pre market trading at $16.70. LNG shares jump this morning after Blackstone invests $2 billion. Cheniere has traded 152 thousand shares so far today and trades 5.6 million shares a day on average. The company has a market cap of 1.13 billion.

Chelsea Therapeutics International (NASDAQ:CHTP) is up 11.60% in pre market trading at $4.33. Chelesa continues to rise after an FDA panel backed their drug, Northera, on Friday. CHTP trades about 1.5 million shares a day on average. The company has a market cap of 239.97 million.

MetroPCS Communications, Inc. (NYSE:PCS) is up 4.08% in pre market trading at $12.50. PCS shares continue to rise this morning after a proposed takeover by Sprint Nextel collapsed earlier last week. PCS trades 4.7 million shares a day on average. The company has a market cap of 4.35 billion.

Lowe’s Companies, Inc. (NYSE:LOW) is up 1.47% at $27.56. Lowe’s is moving higher today after posting fourth quarter results earlier. Sales were up 11% at $11.63 thanks to a warmer winter. Earnings per share were on par with Wall Street estimates. LOW trades 15.7 million shares a day on average and has a market cap of 34.02 billion.

Nokia Corporation (NYSE:NOK) is down 6.21% in pre market trading at $5.44. NOK has traded over 800 thousand shares already this morning and trades 30.5 million shares a day on average. Nokia recently unveiled two new smartphones. The company has a market cap of 21.52 billion.

ATP Oil & Gas Corporation (NASDAQ:ATPG) is up 5.06% in pre market trading at $7.48. ATPG shares are rising this morning after the company announced production success at fourth well at Telemark Hub. The compnay has a market cap of 364.02 million.

Apple Inc. (NASDAQ:AAPL) is down 0.19% in pre market trading at $521.57. AAPL trades about 13 million shares a day on average. The stock has been on a steady rise since early December and has jumped from $380 to over $520 in that span. The company has a market cap of 487.08 billion.

Sign up for our newsletter

> Investment News
> Latest Investing Products
> Breaking News

Sign Up Free Today!

About Kyle Pinder

Kyle Pinder has has over five years trading and research experience in the large cap space. While still in grad school, Kyle trades daily and keep Active Investor up to date with the latest breaking news coming out of Wall Street and Washington.

Speak Your Mind


Real Time Web Analytics