Stocks Jump on Renewed Greek Hopes. Stocks to Watch: IPSU, ARUN, CLWR, AMLN, AEO, AIG, NFLX

Stock FuturesStock futures are sharply higher as the risk-on appetite returns to the street. Investors are optimistic that the Greek debt-swap will go off without a hitch, and that is sending the market higher. The central banks of Europe are scheduled to meet and jobless claims reign over the market this morning.

Dow futures are currently up 85 points to 12,926. Nasdaq 100 futures are up 17.50 to 2,626. The S&P 500 futures are rounding out the pre-market gains, up 11.25 to 1,364.

Jobless claims jumped 8k from last week. The number still remains under the 400k barrier that is a signal for positive labor growth. This shows that the recovery, while taking hold, is rather anemic. If the market was a looking for the catalyst to blow by Dow 13k, this is not it.

Internationally it is all about Greece. A successful auction will give rise to optimism the market desperately needs. Asia also broke their three-day losing streak on the back of the domestic rally yesterday. [Read more...]

Biggest Losers Heading Into Midday: BKS, AEO, PCS, TSO, LEAP, LPHI, OMX

Barnes & Noble, Inc. (NYSE:BKS) is down 23.39% in midday trading at $10.38. BKS is dow on heavy volume with 8.4 million shares traded. BKS trades on average 1.3 million shares a day. Barnes & Noble shares fell today on outlook and news they may spin off Nook business. The company has a market cap of 605.03 million.

American Eagle Outfitters, Inc. (NYSE:AEO) is down 10.16% today at $13.62. AEO has traded 13.1 million shares so far today, well above its daily average of around 4 million shares. American Eagle is down today after cutting outlook, but did report stronger holiday sales. The company has a market cap of 2.62 billion.

MetroPCS Communications, Inc. (NYSE:PCS) is down 8.93% in midday trading at $8.01. PCS has traded 5.8 million shares today, nearly a million more than it trades on average. PSC announced disappointing subscriber numbers in the fourth quarter, adding only 197,000 subscribers. The company has a market cap of 2.90 billion.

Tesoro Corporation (NYSE:TSO) is down 8.08% today at $22.06. TSO has traded 3.3 million shares today and trades 4.8 million shares a day on average. Tesoro announced it will report a fourth quarter loss on lower refining margins. The company has a market cap of 3.14 billion.

Leap Wireless International Inc. (NASDAQ:LEAP) is down 7.50% in midday trading at $8.51. LEAP has traded 2 million shares so far today and has already traded more than its daily average. LEAP shares fell today after the company announced it added 175,000 subscribers in the fourth quarter, below expectations of 195,000 subscribers. The company has a market cap of 670.63 million.

Life Partners Holdings, Inc. (NASDAQ:LPHI) is down 9.30% today at $4.78. LPHI has traded 213 thousand shares so far today, nearly double its daily average volume. LPHI is dipping again today as investors react to news of SEC lawsuit against the company. The company has a market cap of 90.08 million.

OfficeMax Incorporated (NYSE:OMX) is down 5.54% in midday trading at $4.57. OMX has traded 741 thousand shares so far today and trades 2 million shares a day on average. The company has a market cap of 394.44 million.

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