Stocks are down again today as investors continue to worry about the euro zone and the slowing global economy. The IMF came out yesterday and urged European politicians to deepen financial ties within the euro zone to help restore confidence to the global economy. The IMF also said that European banks are likely to get rid of $2.8 trillion in assets over a two year span to help reduce their exposure.
Alcoa kicked off earnings season with a beat, but shares are down after the company’s CEO said he sees a slowdown in demand growth due to a weakening economy in Europe and China. The Dow is down 83 points right now, the Nasdaq is down 8 points and the S&P 500 is down 6 points.
Stocks to Watch
Cleantech Solutions International, Inc. (NASDAQ:CLNT) is up 35.83% today at $3.45. CLNT has traded 1.2 million shares so far today, way above its daily average of 25 thousand shares. CLNT shares are up today after the company received $2.2 million purchase orders for airflow dyeing machines. The company has a market cap of 9.04 million.
True Religion Apparel Inc. (NASDAQ:TRLG) is up 22.42% today at $25.72. TRLG has traded 5.4 million shares today, more than 10 times its daily average. TRLG shares are up today after the company hired advisers to explore a possible sale. The company has a market cap of 649.38 million.
AuRico Gold Inc. (NYSE:AUQ) is up 16.51% today at $7.48. AUQ has traded 10.7 million shares so far today, well above its daily average of 2.8 million shares. AUQ shares are rallying today after selling its Ocampo Mine for $750 million. The company has a market cap of 2.09 billion.
Otelco Inc. (NASDAQ:OTT) is up 12.45% today at $3.07. OTT has traded 1.3 million shares so far today, about 6 times its daily average. OTT shares have jumped more than $1 a share over the past three days.
Yum! Brands, Inc. (NYSE:YUM) is up 8.47% today at $71.28. YUM has traded 13.06 million shares in late morning trading, 4 times its daily average volume. YUM shares are up today after beating EPS expectations. Yum! Brands reported EPS of $0.99 per share, beating expectations of $0.97. The company also raised its guidance for the full year. The company has a market cap of 32.51 billion.
Ambarella, Inc. (NASDAQ:AMBA) is up 4.50% today at $6.28. AMBA has traded just over 2 million shares so far today. Ambarella priced 6 million shares at $6 for its IPO, down from the expected $9-$11 area.