Stock Futures Sell Off As European Concerns Weigh. Stocks to Watch: DMD, SODA, ARNA, PSTI, DVAX, STEC, SYNC

penny stocksEurope continues to dominate the the psyche of the global investors. The political turmoil in Greece is bringing up the question of whether or not they will leave the Euro and return to the drachma. Dow futures are currently down 89 points. Nasdaq and S&P futures are down 21 and 11 points respectively.

Domestically, the economic data calendar remains light today with just wholesale inventories slated for release at 10am EST. This will leave the US markets susceptible to knee-jerk reactions on any headlines that emerge from Europe.

Most observers think there will be a new round of elections in June as neither side seems to have enough to seats to form a ruling coalition. The leader of the Radical Left has already come out and said that the Greek debt agreement s were null, hence the market reaction over the past few days. It shows the people on the ground are tired of being dictated to by the IMF and ECB.

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Greece does have fiscal deadlines approaching on whether or not they continue to receive bailout funds. Without a ruling government, one has to wonder the status of the funds and whether or not Greece can meet their fiscal obligations set forth under the agreements. Doubtful at best.

Commodities are enduring the same sell off that the broader market is. Gold prices lost their grip on $1600 per ounce overnight, while oil continues to fall over concerns over growth. Oil is actually good news for consumers as it will lessen the pain at the pump somewhat.

All in all expect a repeat of yesterday in regards to market action. Unless the headlines out of Europe really start getting surprising. [Read more...]

Active Stocks At Midday: ZNGA, CX, SD, GMCR, DVAX, ATVI

The market continues to trade mixed in midday trading. A positive jobs report sent stocks slightly higher this morning, but soon retreated after mixed earnings and Ben Bernanke’s remarks. Ben Bernanke told law makers earlier today that the economic recovery is “frustratingly slow.” He also urged law makers not to cut spending in policies that could help strengthen the economy. The Dow is down 18 points, the Nasdaq is up 7 points and the S&P is up 1 point.

Zynga Inc. (NASDAQ:ZNGA) is up 15.19% today at $12.21. ZNGA is continuing its rally over the past week or so as Facebook’s IPO filing is sending numerous companies in that sector up. Zynga’s success is directly tied into Facebook’s success. ZNGA is up on extremely large volume with nearly 40 million shares traded. The stock trades 10 million shares a day on average. The company has a market cap of 8.50 billion.

Cemex, S.A.B. (NYSE:CX) is up 6.75% in midday trading at $7.58. CX has traded 31.8 million shares so far today, more than double its daily average. CX shares are up today after the company announced fourth quarter results. CX saw consolidated net sales increase by 6% in the fourth quarter to $3.7 billion and increased 8 for the full year. The company has a market cap of 7.93 billion.

Sandridge Energy Inc. (NYSE:SD) is down 10.22% today at $7.03. SD has traded 50.1 million shares today, five times its daily average. SD was downgraded today by multiple analysts. Tudor Picering downgraded the stock to hold from accumulate and Howard Weil downgraded to market perform from market outperform. Sandridge also announced the purchase of Dynamic Offshore for $1.27 billion yesterday. The company has a market cap of 2.82 billion.

Green Mountain Coffee Roasters, Inc. (NASDAQ:GMCR) is up 22.02% in midday trading at $65.44. GMCR is rallying today after crushing analysts’ estimates for first quarter results. Revenue more than doubled to $1.16 billion and net income rose to $104 million. First quarter adjusted EPS was $0.60 compared to the consensus of $0.36. GMCR has traded 18.2 million shares so far today, well above its daily average of 7.2 million shares. The company has a market cap of 10.12 billion.

Dynavax Technologies Corporation (NASDAQ:DVAX) is up 8.91% today at $4.01. DVAX has traded 7.3 million shares today, more than 5 times its daily average. DVAX shares are up today after it reported on Heplisav Pre-BLA meeting with FDA. The company has a market cap of 513.57 million.

Activision Blizzard, Inc. (NASDAQ:ATVI) is down 0.74% in midday trading at $12.08. ATVI has traded 7 million shares so far today and trades 10.6 million shares a day on average. One of Activision’s biggest competitors, Electronic Arts, released their earnings yesterday. EA saw its Star Wars title perform very well with 2 million copies sold. Activision will announce their earnings on February 9. The company has a market cap of 13.80 billion.

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