Early Nasdaq Gainers: CSIQ, PGNX, PWAV, DBLE, DISH, HSOL

The stock market is on a tear this morning following strong housing numbers and positive economic news out of Europe. The Commerce Department said today that housing starts surged 9.3% today to an adjusted annual rate of 685,000, the highest in more than a year. In Europe, German business and consumer confidence rose and Spain had a successful debt auction today. The Dow is up 257 points, the Nasdaq is up 63 points and the S&P is up 29 points.

Here’s a look at 6 Nasdaq stocks posting strong gains early.

Canadian Solar Inc. (NASDAQ:CSIQ) is up 30.77% this morning at $2.89. CSIQ has traded 1.2 million shares so far today and is already above its daily average volume for the day. CSIQ stock is up today after the company announced it is selling solar projects to TransCanada. Canadian Solar has a current market cap of 122.99 million.

Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) is up 17.44% today at $7.61. PGNX has traded 446 thousand shares so far today and trades 132 thousand shares a day on average. Progenics is up today after announcing positive phase 3 results for methylnaltrexone. The company has a current market cap of 258.62 million.

Powerwave Technologies Inc. (NASDAQ:PWAV) is up 12.50% this morning at $1.62. PWAV has traded 216 thousand shares today and trades 649 thousand shares a day on average. PWAV gaped up this morning after falling about $0.40 a share over the previous four trading days. Powerwave has a current market cap of 52.28 million.

Double Eagle Petroleum Co. (NASDAQ:DBLE) is up 18.68% this morning at $7.18. DBLE has traded 260 thousand shares so far today, well above its daily average of 105 thousand shares. The company has a current market cap of 80 million.

Dish Network Corp. (NASDAQ:DISH) is up 8.23% today at $27.21. DISH has traded 1.9 million shares so far today and averages 3.8 million shares a day. DISH stock rose this morning on rumors of AT&T buying the company. Dish Network has a market cap of 12.16 billion.

Hanwha SolarOne Co. (NASDAQ:HSOL) is up 6.93% this morning at $1.08. HSOL has traded 351 thousand shares so far today and trades 850 million shares a day on average. The company has a current market cap of 90.86 million.

Market Holds Positive in Midday Trading. Stocks to Watch: BAC, JPM, F, MS, TRGP, DISH, BKS

Stocks have held onto their early gains in midday trading as the unemployment rate surprisingly fell to 8.6% and rumors swirl about the IMF playing a bigger role in Europe’s debt crisis. The drop in the unemployment rate to 8.6% made it the lowest it has been in more than two years. It is being rumored that the IMF will give the ECB as much as $270 billion.

The November Jobs report showed the economy created a net of 120,000 with 140,000 coming from the private sector. The jobs number themselves were slightly below expectations, but the big headline was the lowering of the unemployment rate to 8.6%. “The market focuses on headlines, and if you include the prior two months being revised up, and you think about the three months together, there was more employment than expected,” said Peter Boockvar, market strategist at Miller Tabak.

“Underneath the hood, it’s still sluggish job growth,” he added. “We’re only averaging 132,000 jobs this year and seeing the biggest drop in the labor force since January, and the participation rate at near record lows.”

The stock market spiked this morning on these headlines, but has since given up some of those gains. The Dow which was up over 100 points at one point, is up 51 points, the Nasdaq is up 15 points and the S&P is up 7 points.

Stocks to watch for the latter half of the day include Bank of America (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM), Ford Motor Company (NYSE:F), Morgan Stanley (NYSE:MS), Targa Resources Corp. (NYSE:TRGP), Dish Network Corp. (NASDAQ:DISH) and Barnes & Noble, Inc. (NYSE:BKS)

Bank of America Corporation (NYSE:BAC) is up 3.89% at $5.74 in midday trading. BAC has traded 178 million shares so far today and is on track to exceed its daily average of 271 million shares. BAC has rallied the past three trading sessions after falling nearly under $5 on Tuesday. Bank of America has a current market cap of 58.28 billion.

JPMorgan Chase & Co. (NYSE:JPM) is up 8.54% at $33.06 in midday trading. JPM has traded 59.4 million shares so far today, above its daily average volume of 46.5 million shares. JPM hit an intraday high of $33.27 earlier in the trading day. JPMorgan Chase & Co. has a current market cap of 124.53 billion

Ford Motor Company (NYSE:F) is up 4.06% today at $11.02 with an intraday high of $11.10. F has traded 42 million shares in midday trading and trades 62.8 million shares a day on average. F has jumped more than $1 a share in the past two trading sessions. The company has a current market cap of 41.80 billion.

Morgan Stanley (NYSE:MS) is up 7.82% at $15.65 with an intraday high of $15.90 in midday trading. MS has traded 33.4 million shares so far today and is just 2 million shares shy of hitting its daily average volume. Banking stocks all rose today after the positive employment report and on Europe hopes. Morgan Stanley has a current market cap of 30.08 billion.

Targa Resources Corp. (NYSE:TRGP) is up 6.41% at $37.49 and was as high as $37.72 in midday trading. TRGP has traded 953 thousand shares so far today, nearly 5 times its daily average volume. Targa Resources announced management changes as well as updated their distribution outlook on Dec. 1. TRGP stock has jumped more than $4 a share over the past three trading sessions. The company has a current market cap of 1.59 billion.

Dish Network Corporation (NASDAQ:DISH) is up 5% at $25.81 with an intraday high of $26.45 in midday trading. DISH has traded 10.5 million shares so far today, triple its daily average volume. DISH stock is up nearly $2 on the week. The company has a current market cap of 11.52 billion.

Barnes & Noble, Inc. (NYSE:BKS) is up 11.58% at $16.28 with an intraday high of $17.06. BKS has traded 1.9 million shares so far today, 500 thousand more shares than its trades a day on average. BKS is rebounding today after dipping from $17 to below $14 a one point yesterday. Barnes & Noble has a current market cap of 943.47 million.

Investors Concerned Over Italy, The New Greece. Stocks to Watch: DISH, PCLN, ADPI

At 7:45 a.m. ET, Dow Jones Industrial Average futures had slid 43 points to 11,899, S&P 500 futures slipped 6 points to 1,245 and Nasdaq 100 futures slumped 8.3 points to 2,343. Mounting political instability in Italy is now coming to the forefront as “The New Greece”. It appears investors may be in for a volatile week as the drama continues to unfold in Europe.

European blue chips fell 0.46%, while the euro slid 0.57% to $1.375. The U.S. dollar rose 0.2% against a basket of six world currencies.

The English FTSE 100 slid 0.62% to 5,493 and the French CAC 40 slipped 0.27% to 5,950.

In Asia, the Japanese Nikkei 225 dropped 0.39% to 8,767 and the Chinese Hang Seng slumped 0.83% to 19,678.

Energy markets held on to gains despite a strengthening U.S. dollar.

The benchmark American crude oil contract rose 39 cents, or 0.42%, to $94.67 a barrel. Wholesale RBOB gasoline rose 3 cents, or 1%, to $2.69 a gallon.

Gold climbed $19.90, or 1.1%, to $1,776 a troy ounce. The yield on U.S. government debt was modestly lower. The benchmark 10-year Treasury yields 2.034% from 2.040%.

The sovereign debt crisis that started in the periphery of the euro zone may already be spreading straight into the European Union’s core. Italy has seen its public debt balloon to 119% of its GDP in 2010 from 106% in 2008, raising the question of how and when the Italians will need assistance. Italy needs to institute measures quickly to reduce its public sector. Italian Prime Minister Silvio Berlusconi has seen his majority in parliament slowly disintegrate, paralyzing his ability to push needed reforms through parliament as the European Union is ramping up pressure to enact changes.

Stocks to watch today include DISH Network Corp. (NASDAQ:DISH), Incorporated (NASDAQ:PCLN) and American Dental Partners, Inc. (NASDAQ:ADPI)

Dish Network 3Q Earnings Jump 30% With EPS $0.71, Loses Subscribers

Dish Network Corp (NASDAQ:DISH) released third quarter earnings this morning. The company announced net income jumped 30% to $319.7 million, or EPS $0.71. This is up from $244.9 million or EPS $0.55 last year. DISH missed Wall Street expectations though of EPS $0.74.

Revenue was up 12% from the same period last year thanks to the purchase of Blockbuster back in April. Dish saw subscribers leave again this quarter as it posted a net loss of 111,000 subscribers. The company blames this on aggressive promotions by competitors. Dish’s main competitor, DIRECTV (NASDAQ:DTV) posted a record 327,000 subscriber net gain thanks in large part to its exclusive NFL Sunday Ticket.

Dish ended the third quarter with 13.9 million subscribers making it the third largest provider of paid TV in the U.S.

DISH is trading down nearly 3% in pre-market at $22.80.

Notable Stocks With Earnings This Week: DISH, LDK, PCLN, SZYM, BID

Earnings season continues this week with many notable companies releasing quarterly results. Notable companies releasing earnings include DISH Network Corp. (NASDAQ:DISH), LDK Solar Co., Ltd (NYSE:LDK), Incorporated (NASDAQ:PCLN), Solazyme Inc. (NASDAQ:SZYM) and Sotheby’s (NYSE:BID).

Dish Network Corp. (NASDAQ:DISH) will announce their earnings pre-market Monday and many investors will be watching closely. DISH bought Blockbuster earlier this year and in recent months have announced a new streaming service with Blockbuster. Dish Network is definitely trying to compete with the likes of Netfilx, Inc. (NASDAQ:NFLX) and DIRECTV (NASDAQ:DTV) DISH closed Friday down nearly 1% at $23.48 with over 4 million shares in volume.

LDK Solar Co., Ltd (NYSE:LDK) announces earnings pre-market Monday. LDK has been trading a bit lower recently after hitting an October high of around $4.53. LDK closed Friday up 3.5% at $3.77 with 1.3 million shares in volume. LDK has a current market cap of 533.32 million. LDK Solar is one of First Solar, Inc. (NASDAQ:FSLR) biggest competitors. Incorporated (NASDAQ:PCLN) announces earnings on Monday and analysts expect an EPS of $9.30. This EPS is on the high-end of the company’s guidance. PCLN closed Friday up more than 1% at $513.37. The stock is up about $80 since early October. PCLN has a current market cap of 25.55 billion.

Solazyme Inc. (NASDAQ:SZYM) releases earnings on Monday. SZYM has been in a steady uptrend so far this month, up over $1. The stock closed Friday up $0.63 at $9.91, a gain of 6.79%. SYZM traded less than half its average volume on Friday with 142 thousand shares traded. The stock has a market cap of 591.32 million. Solazyme’s main competitors are Amyris Inc. (NASDAQ:AMRS) and Gevo, Inc. (NASDAQ:GEVO).

Sotheby’s (NYSE:BID) releases earnings on Monday. These earnings will give investors valuable insights into how much consumers are spending at auction houses. This in turn can give people an idea of how the general economy is. While there is no arguing the general economy is not that great, if above-average income earners are spending less at auction houses then it shows that all aspects of the economy have slowed down. BID closed Friday up 0.60% at $35.11. The stock has a current market cap of 2.37 billion.

This week promises to be interesting with many companies reporting earnings. Plus the general uncertainty in Europe will continue to weigh heavily on investors.

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