After Hours Report for March 29

NASDAQ Screen at Times SquareVolatility ruled the day as the major indices whipsawed between negative and positive territory. The Dow managed to erase a substantial loss and close with a minimal gain. The Nasdaq and S&P erased sizable losses to close slightly lower on the day. Uncertainty is starting to creep back into the market as economic growth in China and especially the euro zone again has investors on edge.

Even with recent down days in the market, stocks are pushing to have their best quarterly gain since 1998. Many analysts are waiting for a pull-back since the market has been on a steady upward trajectory. They think a correction is inevitable at this point, even without a downturn in the macro data. [Read more...]

Stock Futures Push Higher on Bernanke Comments. Stocks to Watch

Stock FuturesPre-market trading is being buoyed by a Bernanke speech in which he suggested that more economic stimulus could create better labor conditions. He did raise concerns over whether the current pace of the labor recovery could be maintained in the face of weak demand, both domestically and internationally. Dow futures are currently up 78 points to 13,109. Nasdaq 100 futures are adding 19 points to 2,748. S&P 500 futures are rounding out the morning’s pre-market gains, up 8.75 to 1,402.75.

On the economic calendar, pending home sales are slated to be released at 10am EST. This will be another gauge as to if the housing market is actually recovering. Other news is the ongoing Federal Reserve Chief Ben Bernanke’s speech which began at 8am EST.

Overseas, Asian markets traded mostly flat. Europe on the whole traded higher. The outlier there was Spain which is taking a loss thanks to some election news. The ruling party won a regional election but failed to secure an outright majority. This may make instituting needed reforms difficult. Spain is suffering from crippling unemployment and a growing sovereign debt issue.

Commodities are following the broader market higher this morning. Gold prices are up over $15 to $1,677 per ounce. Gold bulls seem the be encouraged every time Bernanke utters the word stimulus.

Oil prices are also higher this morning. Nymex crude futures are up 32 cents to over $107 per barrel. The energy prices will start to weigh on the market when consumer confidence numbers are released tomorrow. [Read more...]

Stock Futures Point Higher On Jobless Claims. Stocks to Watch: FIO, VVUS, FRO, NBG, FNSR, RIMM, JRCC

Stock FuturesStock futures are trending higher this morning as investors wait for new economic data to be released. Jobless claims are set to be released at 8:30am EST. Same-store retail data is also slated for release the am. Dow futures are currently up 34 points to 12,971. Nasdaq 100 futures are up by 10.75 points to 2,634. The S&P 500 futures are rounding out the pre-market gains, up 3.50 points to 1,386.

Jobless claims were little changed from last week, dropping 2k to 351k (this was due to a revision that had last week’s number going from 351k to 353k). This shows that the labor market continues to strengthen.

Personal income also rose, up .3% after a.5% rise in December. Consumer spending, while worse that expectations, moved .2% higher.

Right now the Dow seems to be stuck around the 13k level. Most analysts agree that for fresh buyers to come in, there needs to be a decisive break. If it continues to trade around this range with no break, the worry is that a correction could be in store and short-bias traders would emerge in force. [Read more...]

Stock Futures Steady as Investors Look to Bernanke. Stocks to Watch: VVUS, SODA, CEDC, FSLR, AAPL, CERS, LIZ

Stock FuturesFutures are flat this morning as investors digest the results of European LTRO. Investors are also waiting for Bernanke’s testimony in front of the House Financial Services Committee. Dow futures are currently up 6 points to 13,003. Nasdaq 100 futures are up 2.25 points to 2,634. The S&P 500 futures are rounding out the flat trading, up .75 to 1,372.25.

Markets are choppy across the board today as everyone tries to understand just what the LTRO means for the broader economy. The ECB allotted 529 billion euros, which exceeded some expectations. The news that Ireland was planning on holding a referendum on the EU fiscal pact was also keeping the EU markets in check. The banking-heavy Stoxx 600 Europe it currently up .33%

Domestically, the Dow breaking the psychological barrier of 13k for the first time since 2008 is expected to be big news. Some analysts believe that it could accelerate the bull market as retail investors see the break and start to pile in. The also expect Bernanke’s testimony, GDP and PMI to bolster trading. The PMI numbers are slated for release at 9:45am EST. [Read more...]

Stocks Trend Higher and Midday Movers: AAPL, KUTV, YOKU, OREX, VVUS, SWN

Wall StreetStocks continue to trend higher in midday trading thanks to better than expected consumer confidence data. The Consumer Confidence Index hit a reading of 70.8 this month, up from last month’s 61.5. Durable goods orders held the market back from bigger gains though as they fell 4% in January. This was due to a decline in business spending on heavy equipment. The Dow is up 22.59 points in midday trading, the Nasdaq is up 18.47 points and the S&P 500 is up 3.72 points.

Apple Inc. (NASDAQ:AAPL) is up 1.24% in midday trading at $532.26. AAPL has traded nearly 11 million shares already today and trades 13.8 million shares a day on average. AAPL shares set a new record price today after the company confirmed it will unveil the next iPad at a March 7 event. The company has a market cap of 495.99 billion. [Read more...]

Nasdaq Stocks Moving Higher Today: ALIM, ROYL, IMOS, VVUS, ATPG, SIRI

Floor of the NYSEStocks continue to hold steady in positive territory today as positive housing news erased all losses earlier today. Pending home sales rose 8% in January, blowing past analysts’ estimates of 1%. Falling oil prices have also helped send stocks higher today as the price of oil is down more than $1 at $108/barrel. The Dow is up 16 points right now, the Nasdaq is up 6 points and the S&P 500 is up 3 points.

Alimera Sciences, Inc. (NASDAQ:ALIM) is up 28.07% this afternoon at $2.21. ALIM has traded 1.1 million shares so far today, 6 times its average volume. ALIM shares are rising ahead of the company presenting at Citi 2012 Global Health Care Conference. Alimera will also be releasing their most recent earnings on March 8. The company has a market cap of 68.20 million. [Read more...]

Market Turns Mixed, Afternoon Movers: ROYL, VVUS, GMXR, TSL, MCP, MRVL

Nasdaq stocksRoyale Energy, Inc. (NASDAQ:ROYL) is up 16.92% today at $6.2199. ROYL has traded 4.3 million shares this afternoon, well above its daily average of 686 thousand shares. ROYL shares are rallying today after a report from the USGS where they estimate up to 2 billion barrels of oil in North Slope shale. The company has a market cap of 67.37 million.

Vivus, Inc. (NASDAQ:VVUS) is up 15.96% this afternoon at $21.78. VVUS has traded 24.1 million shares so far today, more than 8 times its average volume. VVUS shares continue to rise after a FDA panel backed the company’s obesity drug. The company has a market cap of 1.95 billion. [Read more...]

Stock Futures Up On Jobless Claims. Stocks to Watch: KSS, ARNA, BAC, HPQ, VVUS, OREX, PPO

Stock FuturesInvestors are looking for guidance again this morning as stock futures drift into positive territory. It remains to be seen if the weekly jobless claims number can be the catalyst to renew the rally’s march to 13k+. Dow futures are currently up 25 points to 12,941. Nasdaq 100 futures are currently up 8 points to 2,587. The S&P 500 futures round out the modest gains, up 1.50 points to 1,357.

Jobless claims out this morning showed them unchanged at 351k. Expectations were for a modest rise. The 4-week average for claims fell by 7k to 359k. This represents the lowest level since March of 2008.

Asian stocks slipped negative overnight as they reacted to yesterday’s session in the US. European markets also reversed their earlier gains, after the EU released a report saying they expect a mild recession in 2012. It expects the EU growth rate to drop to -.3% versus a previously forecasted growth rate of .5%. [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...]

Pre-Market Winners: IDIX, ACHN, VVUS, DNDN, PLX

Idenix Pharmaceuticals, Inc. (NASDAQ:IDIX) is up 43.97% in pre market trading at $10.10. IDIX has traded 44 thousand shares so far today and trades 910 thousand shares a day on average. IDIX is up today after the company gave an update on its HCV development pipeline. News of Bristol-Myers buyout of Inhibitex has also sent the stock higher. The company has a market cap of 677.88 million.

Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) is up 27.53% this morning at $10.10. ACHN trades 717 thousand shares a day on average. ACHN reported clinical data on its protease inhibitors earlier today. The company has a market cap of 552.37 million. Sign Up For Our Free Weekly Newsletter

Vivus, Inc. (NASDAQ:VVUS) is up 18.11% in pre market trading at $12.00. VVUS has traded 22 thousand shares already this morning and trades 1.69 million shares a day on average. VVUS shares have jumped more than $0.50 over the past week. The company has a market cap of 903.04 million.

Dendreon Corp. (NASDAQ:DNDN) is up 3.24% in pre market trading at $12.75. DNDN has traded 181 thousand shares this morning and trades 6.7 million shares a day on average. DNDN shares have jumped more than $4 a share since last Thursday. The company has a market cap of 1.84 billion.

Protalix BioTherapeutics, Inc. (AMEX:PLX) is up 5.31% this morning at $5.55. PLX trades 145 thousand shares a day on average. PLX shares have jumped more than $0.30 since the start of the new year. The company has a market cap of 451.23 million.

Real Time Web Analytics