The stock market is well into positive territory this morning as news out of China pushed stocks to open higher this morning. China’s economy grew a little bit more than expected at 8.9%. Many analysts were expecting closer to 8.7%. However, China’s economy grew at the slowest pace in more than two years. Banking stocks are mixed this morning with Wells Fargo & Co (NYSE:WFC) up about 2% after its quarterly results beat expectations. Citigroup Inc. (NYSE:C) on the other hand is down 5.43% after reporting an 11% profit drop in the most recent quarter.
It appears investors have largely ignored the recent slew of downgrades in Europe as the China GDP news took center stage today. As of 10:22 am EST the Dow is up 114 points, the Nasdaq is up 24 points and the S&P is up 10 points.
Let’s take a look at a few more stocks that are following the overall market higher.
Ku6 Media Co., Ltd (NASDAQ:KUTV) is up 182% this morning at $4.00. KUTV is up on extremely heavy volume today with over a million shares traded, above its daily average of 28 thousand shares. KUTV shares are up today after entering into a definitive agreement with YouTube allowing Ku6’s international users to view videos from China through a new channel operated by YouTube. The company has a market cap of 179.20 million.
Convio, Inc. (NASDAQ:CNVO) is up 47.95% today at $15.89. CNVO has traded 5 million shares today, way above its daily average of around 40 thousand shares. CNVO shares jumped this morning after Blackbaud agreed to acquire the company for $275 million. The company has a market cap of 291.99 million.
Suntech Power Holdings Co., Ltd. (NYSE:STP) is up 11.39% in early trading at $3.30. STP has traded 1.6 million shares so far today and trades 3.4 million shares a day on average. STP and the solar sector has been on a tear the past week after news that solar panel prices were stabilizing and an increase in demand. The company has a market cap of 594.02 million.
Yingli Green Energy Holding (NYSE:YGE) is up 12.13% this morning at $5.27. YGE is trading above average volume today with 3 million shares traded. The stock trades 3.2 million shares a day on average. YGE has seen a rally over the past week or so for the same reason as Suntech Power Holdings. The company has a market cap of 821.03 million.
Dension Mines Corp. (AMEX:DNN) is up 9.68% in early trading at $1.73. DNN has traded 1.4 million shares so far today, 400 thousand more shares than its daily average. Yesterday, the company outlined its 2012 operating plans and released final production and sales volume.
USEC Inc. (NYSE:USU) is up 15.04% this morning at $1.53. USU has traded 1.9 million shares in early trading and trades 2 million shares a day on average. On Friday, USEC announced it continues to work on the American Centrifuge project. The company has a market cap of 196.28 million.
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