NASDAQ:AFFY

Stock Futures Push Higher on Bernanke Comments. Stocks to Watch

Stock FuturesPre-market trading is being buoyed by a Bernanke speech in which he suggested that more economic stimulus could create better labor conditions. He did raise concerns over whether the current pace of the labor recovery could be maintained in the face of weak demand, both domestically and internationally. Dow futures are currently up 78 points to 13,109. Nasdaq 100 futures are adding 19 points to 2,748. S&P 500 futures are rounding out the morning’s pre-market gains, up 8.75 to 1,402.75.

On the economic calendar, pending home sales are slated to be released at 10am EST. This will be another gauge as to if the housing market is actually recovering. Other news is the ongoing Federal Reserve Chief Ben Bernanke’s speech which began at 8am EST.

Overseas, Asian markets traded mostly flat. Europe on the whole traded higher. The outlier there was Spain which is taking a loss thanks to some election news. The ruling party won a regional election but failed to secure an outright majority. This may make instituting needed reforms difficult. Spain is suffering from crippling unemployment and a growing sovereign debt issue.

Commodities are following the broader market higher this morning. Gold prices are up over $15 to $1,677 per ounce. Gold bulls seem the be encouraged every time Bernanke utters the word stimulus.

Oil prices are also higher this morning. Nymex crude futures are up 32 cents to over $107 per barrel. The energy prices will start to weigh on the market when consumer confidence numbers are released tomorrow. [Read more...]

Stocks Finish Deep In The Red As Tomorrow Is A Make Or Break Day In The Market

Stocks were down big today as all eyes are on Europe. Investors want to see meaningful action at the EU summit tomorrow and if they don’t we could see an even sharper sell off. The trading day started off well enough after the ECB cut its interest rates 25 basis points to 1% and traders were feeling confident a solution was coming.

That all changed after ECB President Mario Draghi said the ECB will not be doing any large scale government bond purchasing programs. “It’s all about Europe right now,” says Todd Schoenberger, managing director at LandColt Trading. “The debt concerns, everything that’s happening just in those PIIGS – Portugal, Ireland, Italy Greece, and Spain; that’s impacting the European countries and their governments, but it also impacts our U.S. banks here.”

Stocks took a big hit after this with U.S. financial stocks taking the brunt. Bank of America (NYSE:BAC) lost 5.9% and closed the day at $5.59, erasing much of its gains from last week. Citigroup (NYSE:C) took an even bigger hit and lost 6.97% today closing at $27.75. Other U.S. bank losers included JP Morgan Chase & Co. (NYSE:JPM) losing 5.24% closing at $32.22 and Morgan Stanley (NYSE:MS) losing 8.42% closing at $8.42.

Winners were few and far between and had to have news of their own to overcome the down market. DemandTec, Inc. (NASDAQ:DMAN) shot up 55.99% closing at $13.15 after IBM said it will acquire the company for $440 million. Affymax, Inc. (NASDAQ:AFFY) rose 36.22% closing at $7.98 after a government panel voted 15-1 in favor, recommending the company’s drug gets FDA approval. G-III Apparel Group Ltd. (NASDAQ:GIII) finished the day up 17.98% at $24.02. G-III reported third quarter profits that beat analysts expectations and signed an agreement with Calvin Klein to open women’s clothing stores in the U.S. and China.

It looks tomorrow will be the day we know for sure one way or the other what exactly is going on in Europe. Hopefully they find a solution or uncertainty will send the markets in a tailspin.

Stocks In The Green This Morning: DMAN, AFFY, CEDC, PSUN, DANG, PEIX

The stock market is lower this morning as investors keep a close eye on Europe ahead of their EU summit on Friday. Today the ECB cut a key interest rate down to 1%, but said there is no plan for large scale government bond purchases. Some good news from the jobs market has helped the markets not sell off as much. Jobless claims fell to a 9-month low last week as weekly applications dropped by 23,000 to a seasonally adjusted 381,000.

The Dow is down 66.72 points today, the Nasdaq is down 16.64 points and the S&P is down 10.30 points. Here’s six stocks well into the green so far this morning.

DemandTec, Inc. (NASDAQ:DMAN) is up 55.28% this morning at $13.09. DMAN has traded 13.6 million shares so far today, well above its daily average of just 265 thousand shares. DMAN is up today after IBM said it plans to buy DMAN for $440 million in cash. DemandTec has a market cap of 436.03 million.

Affymax, Inc. (NASDAQ:AFFY) is up 35.03% this morning at $7.91. AFFY has traded 8.2 million shares so far today, more than 10 times its daily average. AFFY stock is soaring this morning after a government panel voted 15-1 to recommend U.S. approval for the company’s anemia drug. AFFY has jumped more than $2.50 a share over the past five trading days. The company has a market cap of 274.05 million.

Central European Distribution Corp. (NASDAQ:CEDC) is up 17.03% today at $5.98. CEDC has traded 1.7 million shares so far this morning and trades 2.5 million shares a day on average. CEDC is up today after Russian Standard Vodka offered to buy another 19.9% stake in the company. Central European Distribution has a market cap of 422.63 million.

Pacific Sunwear of California Inc. (NASDAQ:PSUN) is up 25.19% this morning at $1.69. PSUN has traded 2.2 million shares so far today, more than 4 times its daily average. PSUN announced it will be closing up to 200 under performing stores across the U.S. The company also announced it will get a five year, $60 million secured-term loan from Golden Gate Capital. Pacific Sunwear has a market cap of 107.48 million.

E Commerce China Dangdang Inc. (NYSE:DANG) is up 10.75% at $5.14 this morning. DANG has traded 985 thousand shares so far today and trades 1.9 million shares on average. The company has a current market cap of 400.31 million.

Pacific Ethanol Inc. (NASDAQ:PEIX) is up 5.51% today at $1.34. PEIX has traded 2.2 million shares so far today and trades 8.3 million shares a day on average. Over the past four trading days, PEIX has fallen from $1.60 to below $1.25. Pacific Ethanol has a market cap of 102.08 million.

Stocks End The Day Higher With SCEI, ZOOM, AFFY, SFI, BAC, C, MS Up On The Day

Stocks closed higher today as news that leaders of France and Germany agreed on a European debt plan that they claim would restrict future deficits while protecting the euro zone from future financial crises. The plan would require a new treaty signed by all 17 nations using the euro and leaders would like the entire 27 country EU to sign it. Stocks came off their session highs in late trading though after Standard & Poor’s put the top 6 euro zone countries on credit watch negative. This means there is a 50% chance of a downgrade within the next three months. The Dow ended the day up 78 points, the Nasdaq was up 28 points and the S&P was up 12 points.

Here’s a quick look at stocks that followed the market higher today.

Sino Clean Energy Inc. (NASDAQ:SCEI) closed the day up 27.27% at $1.40 with an intraday high of $1.47. SCEI traded 1.3 million shares today, well above its daily average of 242 thousand shares. Sino is up today after trading slightly lower the previous four trading sessions. Sino Clean Energy has a market cap of 32.96 million.

Zoom Technologies, Inc. (NASDAQ:ZOOM) closed Monday up 24.39% at $1.53. ZOOM traded 1.6 million shares today, way above its daily average of 191 thousand shares. ZOOM has been rising steadily for the past four trading sessions now and moved from $0.80 to $1.53 in that time period. Zoom has a current market cap of 34.14 million.

Affymax, Inc. (NASDAQ:AFFY) closed the day up 19.24% at $6.26. AFFY traded 4.2 million shares today, five times its daily average volume. AFFY is up today after the FDA gave a favorable review to the company’s experimental anemia drug. Affymax has a market cap of 223.67 million.

iStar Financial Inc. (NYSE:SFI) closed the day up 16.70% at $6.22. SFI traded 2.1 million shares today, nearly double its daily average volume. SFI has been trending higher over the past week with big intraday moves every day. iStar Financial has a current market cap of 509.52 million.

Bank of America Corporation (NYSE:BAC) finished Monday up 2.66% at $5.79. BAC traded 290 million shares today, 20 million shares more than its daily average. BAC has been trending higher over the past week now since borrowing rates for banks were reduced last week. Bank of America has a current market cap of 58.69 billion.

Citigroup, Inc. (NYSE:C) closed up 5.89% today at $29.83. C traded 80 million shares today, well above its daily average volume of 56.9 million shares. C has been trending higher along with most banking stocks after last week’s rally. Citigroup has a market cap of 87.21 billion.

Morgan Stanley (NYSE:MS) closed Monday up 6.77% at $16.57. MS traded 66 million shares today, nearly double its daily average. MS continues to rally with the market as investors are hopeful for a solution in Europe soon. MS is up more than $3 in the past week of trading. Morgan Stanley has a current market cap of 31.94 billion.

10 Value Stocks Under $10 – TEAR, AFFY, FRO, LYG, THC, RDN, BAC, S, HGSI, HBAN

Stocks are continuing their rally from last week as European leaders began getting plans together at a meeting between French and German leaders. French President Nicolas Sarkozy and German Chancellor Angela Merkel discussed forging closer economic and political ties between euro nations. The two leaders also want tighter control on euro nation’s budgets to prevent debt problems that Greece, Italy and other countries are having. The major indices are up over 1% this morning with the Dow up 159 points, the Nasdaq up 45 points and the S&P up 21 points.

Here’s ten stocks under $10 rallying alongside the stock market.

TearLab Corporation (NASDAQ:TEAR) is up 57.26% at $1.95 this morning. TEAR has traded 353 thousand shares so far today, way above its daily average of 11 thousand shares. TEAR is up today after the FDA grants the company’s petition for a waiver under CLIA for the TearLab(R) Osmolarity System. “This marks the achievement of our third and final major milestone,” commented Elias Vamvakas, TearLab’s Chief Executive Officer. TearLab Corporation has a market cap of 38.79 million.

Affymax, Inc. (NASDAQ:AFFY) is up 20.38% at $6.32 this morning. AFFY has traded 2.3 million shares so far today, 4 times its daily average volume. Affymax is rallying today after the FDA said the company’s experimental anemia medicine works as well as approved drugs for patients with chronic kidney disease. Affymax, Inc. has a market cap of 228.31 million.

Frontline Ltd. (NYSE:FRO) is up 18.42% at $3.60 this morning. FRO has traded 1.3 million shares so far today and trades 2.6 million shares a day on average. Over the past 5 trading sessions, FRO has jumped nearly $1 a share. Frontline Ltd has a current market cap of 280.29 million.

Lloyds Banking Group (NYSE:LYG) is up 10.53% at $1.68 this morning. LYG has traded 1.7 million shares so far today and trades 4.2 million shares a day on average. LYG is up $0.30 over the past five trading sessions. Banking stocks have been on a tear the past week or so after last week’s central banks action which lowered borrowing rates for banks. Lloyds Banking Group has a market cap of 29.31 billion.

Tenet Healthcare Corp. (NYSE:THC) is up 11.12% at $4.6450 this morning. THC has traded 2.7 million shares so far today, and trades 10.8 million shares a day on average. THC is bouncing back today after selling off late Friday. Tenet Healthcare has a market cap of 2.02 billion.

Radian Group Inc. (NYSE:RDN) is up 8.04% at $2.42 this morning. RDN has traded 1 million shares so far today and trades on average 5.4 million shares a day. Radian Group has rebounded the last three trading sessions after having a big sell off last Tuesday. RDN has a current market cap of 322.34 million.

Bank of America Corporation (NYSE:BAC) is up 4.17% at $5.88. BAC has traded 94 million shares so far today and trades 271 million shares a day on average. BAC has been steadily going up for the past week now after last week’s major rally following the coordinated central banks’ actions. Bank of America has a market cap of 59.51 billion.

Sprint Nextel Corporation (NYSE:S) is up 0.58% this morning at $2.6150. S has traded 10.9 million shares so far today and trades 62.2 million shares a day on average. S stock rose nearly $0.40 a share last week to $2.80, but has since come back down and is up slightly today. Sprint has a market cap of 7.85 billion.

Human Genome Sciences Inc. (NASDAQ:HGSI) is up 1.85% at $7.71 this morning. HGSI has traded 3.8 million shares this morning and should pass its daily average volume of 6.1 million shares later today. HGSI has moved up $0.70 a share over the past five trading sessions. Human Genome Sciences has a market cap of 1.55 billion.

Huntington Bancshares Inc. (NASDAQ:HBAN) is up 2.11% at $5.32 this morning. HBAN has traded 2.9 million shares so far today and trades 16.1 million shares a day on average. HBAN has followed all the other financial stocks over the past week and has seen gains of more than $0.50 a share in about a week. HBAN has a current market cap of 16.1 million.

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