Stocks are higher this morning after 23 European nations agreed to tie their economies closer together in hopes of preventing any future debt crisis. This new treaty will penalize budgetary offenders that threaten the euro zone. Germany and France were hopeful to persuade all 27 euro zone countries, but Britain and three others refused to join.
“It’s going to be the basis for a good fiscal compact and more discipline in economic policy in the euro area members,” Draghi said. “We came to conclusions that will have to be fleshed out more in the coming days.”
Let’s take a look at six stocks following the market up this morning.
SIGA Technologies, Inc. (NASDAQ:SIGA) is up 29.35% at $2.38 this morning. SIGA has traded 542 thousand shares so far today and trades 721 thousand shares a day on average. SIGA had been trading down most of the week, falling from over $2 to below $1.90. The company has a market cap of 118.26 million.
Diamond Foods, Inc. (NASDAQ:DMND) has rallied 22.67% at $32.42 so far this morning. DMDN is up on heavy volume with 941 thousand shares traded so far. The stock should have no problem passing its daily average volume of 1.4 million shares. DMND had been in a sell off this week, falling from $30 a share to below $27. The company has a market cap of 668.08 million.
Sirius XM Radio Inc. (NASDAQ:SIRI) is up 2.35% this morning at $1.74. SIRI has traded 9.9 million shares so far today. SIRI trades 68.6 million shares a day on average. SIRI is up today after an analyst with Citigroup gave it a buy rating with a price target of $2.20. Sirius XM has market cap of 6.51 billion.
Clearwire Corporation (NASDAQ:CLWR) is up 2.28% this morning at $2.23. CLWR has traded 6 million share so far today. The stock usually trades 11.2 million shares a day. The company has a market cap of 556.84 million.
The McClatchy Company (NYSE:MNI) jumped up 20.35% this morning at $2.07. MNI has traded 1.2 million shares this morning. MNI trades 951 thousand shares a day on average. MNI is up $0.80 in the past few days. The company has a market cap of 173.37 million.
Morgan Stanley (NYSE:MS) is up 5.42% this morning at $16.74. MS has traded 9.6 million shares so far today and trades 37.4 million shares a day on average. Morgan Stanley is following the market up today after a new treaty was agreed upon in Europe. The company has a market cap of 32.38 billion.