Stocks slide the most in three months this morning as concerns that Greece and private bondholders may not meet an upcoming deadline grows. Bondholders have till Thursday night to accept a bond swap in which they would lose three-quarters of their bonds’ worth. The overall market is also looking overbought as there hasn’t been a meaningful pullback since the rally started late last year.

In early trading the Dow is down 159 points, the Nasdaq is down 37 points and the S&P 500 is down 17 points.

Encore Bancshares, Inc. (NASDAQ:EBTX) is up 35.35% at $20.17 today. EBTX has traded 375 thousand shares so far today, way above its daily average of 14 thousand shares. EBTX shares are up today after Cadence Bancorp announced the acquisition of Encore Bancshares for $250 million. The company has a market cap of 235.45 million. [Read more...]