The stock market is trading lower today putting a hold on the S&P 500 as it nears it’s historic closing high. Housing data was a bit mixed today as permits for future construction jumped to a more than 3-year high and housing starts fell.
China is also a bit of a concern as investors worry about signs of slowing in the country’s economy. Australian miners signaled this morning that ire ore demand was down.
Overall, there’s not much going on today in term’s of economic news or other catalysts to drive the market. Many analysts continue to call for a meaningful pull back, but today could just be a profit taking day for some investors.
Looking at the markets this morning show the Dow down more than 90 points, the Nasdaq down more than 20 points and the S&P 500 down about 9 points.
NASDAQ Stocks to Watch
Recon Technology, Ltd. (NASDAQ:RCON) is up 75.56% today at $3.93. RCON is up on big volume this morning with 1.6 million shares so far today, well above its daily average of 25 thousand shares. Recon Technology stock has rallied nearly $3 in the past two days after the company introduced Baker Hughes Frac-Point System to Sinopec. The company has a market cap of 14.50 million.
Galena Biopharma, Inc. (NASDAQ:GALE) is up 17.42% this morning at $1.8199. GALE has traded 4.2 million shares today, 4 times its average volume. GALE shares spiked this morning after receiving notice of allowance patent for NeuVax. The company has a market cap of 79.95 million.
Delcath Systems, Inc. (NASDAQ:DCTH) is up 12.62% today at $3.49. DCTH has traded 708 thousand shares this morning, slightly above its daily average of 630 thousand shares. DCTH shares gaped up this morning on news of its first commercial CHEMOSAT order in Europe. The company has a market cap of 168.30 million.
Ampio Pharmaceuticals, Inc. (NASDAQ:AMPE) is about 4% this morning at $3.98. AMPE shares have been rallying the past two days on positive study results for its eye drug. AMPE has traded 1.3 million shares so far today, way above its daily average of 167 thousand shares. The company has a market cap of 131.06 million.
JA Solar Holdings, Co., Ltd. (NASDAQ:JASO) is down 5.49% today at $1.72. JASO has traded 1.7 million shares this morning and trades 6.2 million shares a day on average. JA Solar stock is slipping today after reporting a fourth quarter loss. JASO posted a fourth quarter loss of $0.39 per ADS. Analysts were expecting $0.59 per ADS. Fourth quarter revenue fell 47%. The company has a market cap of 281.56 million.
Veeco Instruments Inc. (NASDAQ:VECO) is down 6.69% today at $30.30. VECO has traded 687 thousand shares so far today and trades 1.2 million shares a day on average. Veeco Instruments stock was downgraded this morning to sell from underperform at CLSA. The company has a market cap of 1.17 billion.
Universal Display Corporation (NASDAQ:PANL) is down 4.60% at $38.33. PANL has traded 846 thousand shares so far today and trades 1.2 million shares a day on average. While PANL shares are down today, the stock is still up $6 a share on the year. The company has a market cap of 1.74 billion.
About Kyle Pinder
