Stock Futures Point to a Higher Opening But EU Concerns Weigh. Stocks to Watch

Wall StreetFutures are pointing higher this morning on earnings optimism, but investors cannot seem to shake the wariness over Europe. Jobless claims are also on tap this morning. Dow futures are currently up 34 points. Nasdaq and S&P 500 futures are also positive, up 14 and 4 points respectively.

The just released jobless numbers are likely to disappoint investors. Claims came in at 386k, a 2k drop thanks to the BLS revising the previous week upward. This time it was from 380k to 388k. Expectations were for a print of 374k. So the narrative that will emerge is that like the housing market, the labor market is beyond anemic and will likely lead to some sort of new stimulus.

The percentage of overall earnings beats is helping investors shrug off news coming out of Europe, plus the ambiguous data emerging domestically and from China. Granted the earnings expectations bar was set so low, the number of beats at this point was inevitable. But investors are taking positives where they can get them. [Read more...]

Futures Up On Greek Optimism. Stocks to Watch: ACHN, STP, VVUS, AMAT, GILD, NFLX, GIS

The market is up in pre-market trading, still riding the good economic data that released yesterday. With jobless claims falling to a multi-year low, the market is looking for Dow 13k. Greek optimism is also helping fuel the rally, but analysts expect the rally to slow a bit as we head into a three day weekend. Dow futures are currently up 36 points to 12,906. Nasdaq 100 futures are essentially flat, up fractionally to 2,594. The S&P 500 futures are rounding out the pre-market gains, up 2.25 points to 1,357.

The markets are taking a .2% rise in core CPI in stride this morning. Most of the economic data over the past couple of weeks firmly points to a recovery. Whether or not the good news can be sustained still remains a question. Regardless, the bulls seem to have control as the Dow searches for Dow 13k.

Asian stocks continued their rally overnight on good economic data and earnings. The Yen continued to weaken which is helping Japanese exporters recover. [Read more...]

End of Day Stock Movers: BAC, F, SIRI, S, GILD, GNW

Stocks have held their early gains throughout the day today. A strong jobs report sent the major stock indexes up more than 1% this morning and they have stayed their much of the day. The Dow has gained 140 points today, the Nasdaq is up 44 points and the S&P 500 is up 17 points.

Bank of America Corporation (NYSE:BAC) is up 4.30% this afternoon at $7.76. BAC has traded 302 million shares so far today and trades 268 million shares a day on average. BAC shares climbed alongside the overall market today following good jobs numbers this morning. The company has a market cap of 82.16 billion.

Ford Motor Company (NYSE:F) is up 4.08% today at $12.77. F has traded 65 million shares today, 10 million more shares than it typically trades everyday. F shares also climbed after the unemployment fell last month to 8.3%. The company has a market cap of 48.60 billion.

Sirius XM Radio Inc. (NASDAQ:SIRI) is up 1.18% this afternoon at $2.14. SIRI has traded 52 million shares so far today and trades 55 million shares a day on average. Sirius announced today that 5-time Grammy winning musician Ziggy Marley will host a new show on Sirius XM. The company has a market cap of 8.04 billion.

Sprint Nextel Corporation (NYSE:S) is up 4.07% today at $2.30. S has traded 41.7 million shares today, 5 million shares more than its daily average. S shares have rallied more than $0.20 over the past three trading days. The company has a market cap of 6.88 billion.

Gilead Sciences, Inc. (NASDAQ:GILD) is up 10.79% this afternoon at $54.67. GILD has traded 33 million shares so far today, well above its daily average of 9.4 million shares. GILD shares rose today after positive results from its Hepatitis C drug trial. The company has a market cap of 40.97 billion.

Genworth Financial Inc. (NYSE:GNW) is up 13.81% today at $9.14. GNW has traded 26.3 million shares today, nearly triple the stock’s daily average volume. GNW shares are up today after posting strong fourth quarter results and saw its mortgage business improve. The company has a market cap of 4.48 billion.

Biggest Losers on the Market Today: NZT, PEIX, FMCN, GILD, NLST

The market downturn is accelerating into the noon hour as the Dow is down 337 points, the Nasdaq is down 67 points and the S&P is down 30 points. News about MF Global came out today where a trustee says shortfall may be double previous estimate and could reach $1.2 billion or more. Here’s the biggest losers of the day in midday trading.

Telecom Corp. of New Zealand Ltd. (NYSE:NZT) is down 21.51% at $7.37. NZT gaped down sharply this morning as the entire market started the day lower. NZT has traded 746 thousand shares so far today, about double its daily average. The company has a current market cap of 2.88 billion.

Pacific Ethanol, Inc. (NASDAQ:PEIX) is down 16.54% at $1.06 in midday trading today. PEIX has been trending lower the past few days after having a decent run up for the first half of November. PEIX has traded 9.3 million shares so far today, 3 million more shares than its daily average. The company has a current market cap of 80.95 million.

Focus Media Holding Ltd. (NASDAQ:FMCN) is down 17.80% at $21.00. FMCN has traded 9.4 million shares today, 9 times its daily average volume. FMCN has been selling off since Friday after it gaped up on earnings. The company has a current market cap of 2.86 billion.

Gilead Sciences Inc. (NASDAQ:GILD) is down 12.29% at $35.00. Gilead Sciences announced today they will buy Pharmasset (NASDAQ:VRUS) for $11 billion. GILD has traded 22 million shares so far today, nearly triple its daily average. GILD had been trending slightly lower this month before dropping big today with the market. The company has a current market cap of 26.36 billion.

Netlist Inc. (NASDAQ:NLST) is down 12% at $3.08 in midday trading. NLST has traded 1.2 million shares so far today, well above its daily average of 406 thousand shares. NLST was in an uptrend all last week, but with the market down this big pretty much everything will follow. The company has a current market cap of 79.17 million.

The markets are getting hammered today and unless a company had really good news, pretty much every stock is following the market down.

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