Stocks Rally on Spain Optimism and Earnings Reports, Stocks to Watch: INVE, PRXI, APPY, AUO, FOSL, DPZ

The major stock averages are posting big gains in morning trading as earnings season is in full swing. Two of biggest tech companies, IBM and Intel, are expected to announce their earnings after the closing bell today. There was also a couple of economic data reports today. Homebuilder sentiment touched a six-year high, but the upward momentum has slowed according to the National Association of Home Builders. Consumer prices rose 0.6% in September, meeting analysts’ predictions. Industrial output also went up in September to 0.4%, with analysts expecting an increase to 0.2%.

Reports from Europe continue to hint that Spain is preparing to request a bailout package. We’ve been hearing about Spain requesting a bailout for months now so I wouldn’t hold your breath for that piece of news.

The Dow is currently up 107 points, the Nasdaq is up 17 points and the S&P 500 is up 10 points. [Read more...]

Hot Stocks to Watch: CRMB, USHS, FOSL, BSFT, LOPE, OSG

Wall StreetStocks are rallying for the third straight day today as investors are optimistic the ECB will act soon to help the struggling euro zone. Mario Draghi, the ECB president, made comments last week supporting a bond-buying program that would help lower borrowing costs for Spain and Italy. Economic data out of Germany showing industrial orders falling also supports the idea that Draghi will act sooner rather than later.

The major stock averages are all up about 0.5% this morning with the Dow moving 76 points higher, the Nasdaq up 21 points and the S&P 500 up 9 points. [Read more...]

Active Stocks in Afternoon Trading: HAUP, CHTP, TVIX, FOSL, TNGO, RAD

Stocks are heading lower in afternoon trading after a meeting between EU finance ministers to discuss Greece’s second rescue package was cancelled. The Dow is down 75 points, the Nasdaq is down 17 points and the S&P 500 is down 9 points.

Hauppauge Digital, Inc. (NASDAQ:HAUP) is up 45.52% today at $1.51. HAUP has traded 1.7 million shares so far today, way above its daily average of 47 thousand shares. HAUP shares are rallying after the company posted its most recent quarterly results today. The company has a market cap of 16.6 million.

Chelsea Therapeutics International (NASDAQ:CHTP) is up 17.36% this afternoon at $3.65. CHTP has traded more than 4 million shares today, 5 times its average volume. CHTP shares are bouncing back today after the stock fell from $5 to $3 on Friday. The company has a market cap of 229.45 million. [Read more...]

Market Recovering Slightly In Midday Trading: QRM, BCRX, XOMA, FOSL, CIS, INFY, STP, PMC

Stocks are recovering in midday trading with the Nasdaq turning positive now. The jobs numbers did hurt the market for a little while but most economists and investors expected an uptick in jobless claims as stores get rid of holiday workers. Things in Europe seem to be looking better after successful auctions in Spain and Italy. New government leaderships in Italy and Spain have helped give investors confidence overseas. The Dow is down just 13 points right now, the Nasdaq is up 5 points and the S&P is slightly positive.

Quest Rare Minerals Ltd. (AMEX:QRM) is up 19.61% in midday trading at $3.05. QRM has traded 863 thousand shares today after the company reported strong summer program drill results at its Strange Lake property. QRM shares are up more than $0.80 a share since late December. Quest Rare Minerals has a market cap of 185.81 million.

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) is up 13.15% today at $2.84. BCRX has traded 681 thousand shares today, nearly 6 times its daily average. BCRX shares have been trending higher today after announcing positive results from its ongoing BCX4208 Phase 2B study in patients with gout. The company has a market cap of 127.09 million.

XOMA Corporation (NASDAQ:XOMA) is up 14.02% in midday trading at $1.7901. XOMA has traded double its average volume with 455 thousand shares. XOMA has been trending higher since Jan. 5 when XOMA announced it will cut 34% of personnel and take a one time charge of $6 million. XOMA described this move as “streamlining operations to invest in value-creating activities.” The company has a market cap of 63.14 million.

Fossil, Inc. (NASDAQ:FOSL) is up 8.11% today at $85.81. FOSL has traded 2.4 million shares so far today and trades 1.2 million shares a day on average. Fossil announced in an 8-K yesterday they entered into a purchase agreement with Skagen Designs, Ltd. The company has a market cap of 5.37 billion.

Camelot Information Systems (NYSE:CIS) is down 11.47% in midday trading at $2.1690. CIS has traded 683 thousand shares today, 100 thousand shares more than its daily average. CIS has been getting hit by multiple class action lawsuits accusing the company of issuing materially false and misleading statements about the company’s business. The company has a market cap of 92.61 million.

Infosys Limited (NASDAQ:INFY) is down 9.41% today at $51.51. INFY shares are falling today after fourth quarter guidance misses expectations. INFY is seeing massive selling pressure today with 5.1 million shares traded, 4 times its daily average volume. The company has a market cap of 29.27 billion.

Suntech Power Holdigns Co., Ltd. (NYSE:STP) is down 4.60% in midday trading at $3.11. STP has traded 5.2 million shares today, close to double its average volume. STP is pulling back today after solar stocks across the board rallied big yesterday. The company has a market cap of 557.91 million.

Pharmerica Corporation (NYSE:PMC) is down 7.21% today at $13.88. PMC has traded 1.4 million shares so far today, 4 times its daily average. PMC shares are down after a report that FTC is blocking a deal between Onmicare and PharMerica. The company has a market cap of 409.50 million.

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