Stock Futures Point Higher on Earnings Optimism, Stocks to Watch: NOK, MLNX, VZ, SIRI, EBAY, ZNGA

Wall StreetUS markets are looking to extend gains into a third day as investors were becoming more optimistic about earnings season. Investors were shrugging off poor results out of Morgan Stanley and were instead looking at beats in several tech companies.

A quick snapshot of the major indices has the Dow up .4%, the Nasdaq .7% and the S&P .5%.

The Fed Chairman wrapped his congressional testimony yesterday and barring any dramatic event, the likelihood of a renewed QE program looks dim before the presidential election. The Fed did say it stood ready to use any tools at its disposal to help with fight against any economic downturn.

The Eu saga continued overnight with a Spanish bond auction seeing lackluster demand. Yields also approached the 7% level. A Parliament vote in Germany is expected to pass the Spanish bailout measure later today.

Commodities are following the overall market higher this morning. Oil has firmly regained its footing above $90 per barrel. Nymex crude futures are up $1.37 to $91.24 as middle east tensions ratchet up once again.

Gold prices are also edging higher with gold futures up over $15 to $1588.20 per ounce. [Read more...]

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...]

Midday Movers As Market Close To Being Negative: CSIQ, GENE, MLNX, MNTA, MWW, LOGI

Stocks have given up much of their early gains from this morning after an unexpected decline in new home sales. The market is turning sharply lower thanks to the Feds decision to hold interest rates near zero for the next two years and better than expected earnings from companies. Right now the Dow is up just 5 points, the Nasdaq is down 9 points and the S&P 500 is down 5 points.

Canadian Solar Inc. (NASDAQ:CSIQ) is up 11.64% in midday trading at $3.55. CSIQ shares are bouncing today after a module deal with Abu Dhabi Firm. CSIQ has traded 1.5 million shares so far today, 50% more than its daily average. The company has a market cap of 154.49 million. Check out one of the best swing traders on the street.

Genetic Technologies Ltd. (NASDAQ:GENE) is up 8.56% today at $4.68. GENE has traded 461 thousand shares today, way above its daily average of 43 thousand shares. Over the past two days GENE has seen a huge increase in volume and price. In the past two days the stock has jumped $1.40 a share. The company has a market cap of 63.63 million.

Mellanox Technologies, Ltd. (NASDAQ:MLNX) is up 15.47% today at $35.98. MLNX has traded 1.3 million shares so far today, more than five times its daily average. MLNX shares are up today after the company reported earnings yesterday. Mellanox beat estimates on revenue with $72.7 million and earnings per share with $0.31. The company has a market cap of 1.41 billion.

Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) is down 20.36% today at $15.22. MNTA has traded 6 million shares at midday, more than six times its daily average. MNTA shares dropped today after Amphastar wins stay in Lovenox case. The company has a market cap of 763.25 million. Check out one of the best swing traders on the street.

Monster Worldwide, Inc. (NYSE:MWW) is down 20.49% in midday trading at $7.13. MWW has traded 6.6 million shares so far today, well above its daily average of 3.4 million shares a day on average. MWW shares are down after reporting fourth quarter earnings. Monster missed EPS by $0.01, missed revenue and announced it will be cutting 400 jobs. The company has a market cap of 899.63 million.

Logitech International (NASDAQ:LOGI) is down 12.47% today at $7.16. LOGI shares are dipping today after missing on its fiscal third quarter results by $0.03. It also missed on revenue and lowered fiscal year 2012 revenue guidance. LOGI has traded 1.1 million shares so far today, double its daily average. The company has a market cap of 1.24 billion.

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