While the non-farm payroll data was a boon to the market on Friday, it lost all steam after the ISDA declared the Greek bond-swap a credit event. The European markets are trading in a choppy range thanks to that and data out of China showing them swinging to a major trade deficit due to waning demand for their exports.
Today the EU group is expected to meet to approve the second Greek bailout. Span will also come into sharp focus as it will announce it will miss its 2012 budgetary requirements. The Finance minister is expected to attend and explain the miss. Pretty simple, when one-fifth of your country is unemployed your rosy numbers are going to be missed.
Commodities are following the general negative trend this morning. Nymex crude futures are down 1.19 to 106.21 per barrel. Gold prices are also negative, down nearly 13 to 1,698.60.
Stocks to watch today include Todou Holding Ltd (NASDAQ:TUDO), Orexigen Therapeuticas, Inc. (NASDAQ:OREX), Renren Inc. (NYSE:RENN), Sprint Nextel Corporation (NYSE:S), Clean Diesel Technologies, Inc. (NASDAQ:CDTI), Anthera Pharmaceuticals Inc. (NASDAQ:ANTH) and Amazon.com, Inc. (NASDAQ:AMZN).
Tudou Holdings Limited (NASDAQ:TUDO) is up 143.66% in pre market trading at $37.50. TUDO shares are up this morning on news that Youku to buy Tudou in an all stock deal valued at over $1 billion. TUDO trades 67 thousand shares a day on average. The company has a market cap of 436.31 million.
Orexigen Therapeutics, Inc. (NASDAQ:OREX) is up 21.08% in pre market trading at $4.48. OREX has traded 133 thousand shares so far this morning and trades 1.2 million shares a day on average. OREX recently announced fourth quarter results and took a smaller loss thanks to lower costs. The company has a market cap of 177.91 million.
Renren Inc. (NYSE:RENN) is up 7.22% in pre market trading at $5.78. RENN trades 8.2 million shares a day on average. RENN shares jumped on Friday after reporting a 66% increase in online ad revenue. The company has a market cap of 2.12 billion.
Sprint Nextel Corporation (NYSE:S) is down 0.36% in pre market trading at $2.77. S has traded 25 thousand shares so far this morning and trades 8.33 billion shares a day on average. S shares have been in an upward trend since the latter half of last week and has moved up about $0.40 a share. The company has a market cap of 8.33 billion.
Clean Diesel Technologies, Inc. (NASDAQ:CDTI) is up 33.12% in pre market trading at $4.14. CDTI has traded 12 thousand shares this morning and trades 137 thousand shares a day on average. CDTI shares are up this morning after the company announced fourth quarter and fiscal year 2011 financial results. CDTI had record fourth quarter revenue of $21.3 million, up over 80% from the year before. Income from operations was $0.2 million in the fourth quarter ,up from a loss of $3.8 million in the same quarter in 2010. The company has a market cap of 22.32 million.
Anthera Pharmaceuticals, Inc. (NASDAQ:ANTH) is down 53.27% in pre market trading at $3.00. ANTH has traded about 30 thousand shares this morning and trades 127 thousand shares a day on average. ANTH shares are down after the company stops trial of heart drug due to ineffectiveness. The company has a market cap of 262.79 million.
Amazon.com, Inc. (NASDAQ:AMZN) is up 0.24% in pre market trading at $184.77. AMZN shares took a hit on Friday which may have been due to lower guidance from Texas Instruments. Texas Instruments supplies chips from Amazon’s Kindle. AMZN trades 6.1 million shares a day on average. The company has a market cap of 83.88 billion.
About Danny Fisher
