Hot Stocks to Watch: CALX, GNC, SIFY, CRUS, GALE, RFMD

Wall Street signAn Apple a day may not keep the doctor away, but it is helping keep the bears away. The massive beat yesterday has the the market rallying on all fronts. Apple itself is rallying nearly 10%. The company’s earnings beat not only lifted domestic markets, but global markets. Maybe we can get everyone to buy iphones and that will solve the sovereign debt issues in Europe.

Outside of the Apple induced euphoria, market watchers will quickly turn to the FOMC statement early this afternoon. This will be followed by a press conference. Expect CNBC talking heads to parse Bernanke’s meaning of the word ‘the’ in reference to the Fed’s willingness to continue with some sort of stimulus program.

Currently the Dow is off its session highs, up 72 points. The Nasdaq and S&P are both adding 55 and 13 points respectively. [Read more...]

Midday Movers: CZR, CALX, FFN, SGI, ONE, OPNT

Stocks are edging lower in midday trading as a deal has still not been reached in Greece for its second bailout package. Patience is beginning to run out as investors are ready to see a solution to the European sovereign debt problem. The Dow is down 38 points right now, the Nasdaq is down 5 points and the S&P is off 2 points.

Caesars Entertainment Corporation (NASDAQ:CZR) is up 73.22% in midday trading at $15.59. Caesars IPO was today and shares opened at $9 and have quickly run up on heavy volume. CZR has traded 7.1 million shares so far today.

Calix, Inc. (NYSE:CALX) is up 26.43% today at $10.86. CALX has traded 1.7 million shares so far today, 6 times its daily average. CALX shares are up today after the company reported its fourth quarter results yesterday. Calix beat EPS estimates by $0.02 and beat revenue estimates. The company has a market cap of 515.52 million.

FriendFinder Networks Inc. (NASDAQ:FFN) is up 14.29% in midday trading at $1.68. FFN has traded 1.3 million shares so far today, well above the stock’s daily average of 400 thousand shares. FFN shares are up more than $0.50 in the past few trading days. The company has a market cap of 51.82 million.

Silicon Graphics International (NASDAQ:SGI) is down 23.24% today at $11.03. SGI has traded 6.3 million shares so far today, more than 10 times its daily average. SGI shares are tumbling on fiscal second quarter EPS missing estimates. Non-GAAP profits came in at $0.04 a share, Wall Street was expecting $0.25 a share. The company has a market cap of 347.09 million.

Higher One Holdings, Inc. (NYSE:ONE) is down 15.37% in midday trading at $15.25. ONE has traded 4 million shares today, way above its daily average of 364 thousand shares. ONE shares fall as Raymond James downgrades to the stock to marketperform from outperform. The stock missed revenue estimates in its latest quarterly results as well. The company has a market cap of 842.59 million.

Opnet Technologies Inc. (NASDAQ:OPNT) is down 14.69% today at $32.40. OPNT has traded 1.4 million shares so far today and trades 294 thousand shares a day on average. OPNT shares are down in midday trading after missing estimates on earnings. EPS was $0.23, analysts were expecting $0.26 per share. The company has a market cap of 726 million.

Nightly Wrap Up – Europe Agrees to Disagree

If you asked a hundred traders what would be the best thing that could come out the the EU summit tomorrow – I know what wouldn’t be on it. A flash across the wires is reporting that participants have agreed to reexamine the issue in March of 2012. An EU diplomat reportedly said that the EU will reexamine the ceiling of the ESM bailout fund in March of 2012. Also treaty changes will be discussed on the same date due to the failure to garner full backing.

That translates to either the summit is one epic failure or the S&P is bluffing and won’t downgrade. I’m going with failure on this one. The sovereign debt contagion is spreading into the core and needs to be addressed sooner rather than later. But then again who knows. Maybe Merkozy can pull a trillion euros out of the hat tomorrow.

Asian markets are mostly negative due to the ongoing EU concern. China did release promising inflation numbers as their CPI dropped 1.3%. Wholesale prices saw a steeper decline. With inflationary concerns easing this gives the central Chinese bank more room for monetary easing. In the midterm this should work to form up the Asian markets thanks to falling food and commodity prices.

In the US, markets ended the day down substantially over the growing EU concern. The Dow shed nearly 200 points in trading today, while the Nasdaq gave back 53 points and the S&P finished off nearly 27.

It is increasingly obvious that the recent rally in equities is subject to a steep sell-off if the EU crisis is not resolved in such a way that the markets have faith in it.

Top gainers in after-hours include Flow International Corporation (NASDAQ:FLOW), U.S. Energy Corp. (NASDAQ:USEG), Boyd Gaming Corp. (NYSE:BYD), Calix, Inc. (NYSE:CALX) and Graphic Packaging Holding Company (NYSE:GPK)

Flow International Corporation (NASDAQ:FLOW) was up 27.27% in after hours trading at $3.08. FLOW posted a better than expected profit for its fiscal second quarter. The company eraned $2.8 million, or $0.06 a share. Analysts had expected profit of $0.01 per share. Flow International has a market cap of 115.48 million.

U.S. Energy Corp. (NASDAQ:USEG) closed the day down 8.28%, but jumped more than 9% in after hours trading. USEG traded 130 thousand shares today, just short of its daily average volume of 170 thousand shares. The company has a market cap of 72.55 million.

Boyd Gaming Corp. (NYSE:BYD) closed Thursday down 7.91% at $6.17. In after hours trading however it jumped 8.59% at $6.70. BYD traded 1.2 million shares on Thursday, slightly below its daily average of 1.5 million shares. Boyd Gaming has a market cap of 532.58 million.

Calix Inc. (NYSE:CALX) finished the day down nearly 7%, but rose 7.5% in after hours trading to $7.21. CALX traded 558 thousand shares today, about 60 thousand more shares than it trades on average. Calix has a market cap of 317.35 million.

Graphic Packaging Holding Company (NYSE:GPK) closed Thursday down 4.46% at $4.07. GPK jumped up 8.11% in after hours trading to $4.40. GPK traded 539 thousand shares today and trades 805 thousand shares a day on average.

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