Stock Market Today, Investment News and Hot Stocks
Bernanke announced another round of QE about an hour ago which has sent the markets tearing higher. The major stock averages are all up about 1% right now. This latest stimulus from the Fed will see the central bank buy $40 billion of mortgage debt every month and continue to buy assets to help the struggling jobs market.
A quick look at the market shows the Dow up over 100 points, the Nasdaq up over 30 and the S&P up about 13. [Read more...]
A couple of poor economic reports has sent markets down today with the Dow flirting around the 13,000 level. Manufacturing fell to 49.6 in August, the biggest decline in more than three years according to the Institute for Supply Management (ISM). Construction spending also dipped, falling nearly 1% in July. Economists were expecting a rise in 0.4% rise in spending.
Today’s sell off should come as no surprise with September being a poor month for stocks historically.
The Dow is currently down 75 points, the Nasdaq is down 9 points and the S&P 500 is down 5 points. [Read more...]
Heckmann Corporation (NYSE:HEK) is down 20.12% today at $2.6999. HEK has traded 5.4 million shares so far today, double its daily average. HEK shares are down today after down after announcing results and receiving multiple downgrades. The company has a market cap of 399.26 million.
WMS Industries Inc. (NYSE:WMS) is down 19.33% today at $14.73. WMS has traded 2.9 million shares so far today, well above its daily average of 807 thousand shares. WMS shares are down today after missing fourth quarter EPS estimates by $0.04. The company has a market cap of 813.55 million. [Read more...]
VeriFone Systems, Inc. (NYSE:PAY) is down 9.94% this morning at $49.02. PAY has traded 4.4 million shares so far today, well above its daily average of 2.1 million shares. VeriFone shares are tanking today after the stock was downgraded by Deutsche Bank. The company has a market cap of 5.24 billion.
Tenneco Inc. (NYSE:TEN) is down 8.78% today at $32.94. TEN has traded 1.5 million shares so far today, well above its daily average 953 thousand shares. TEN shares are dipping today after the company missed EPS estimates by $0.07, but they did beat on revenue. The company has a market cap of 2.00 billion. [Read more...]
Investors hoping to extend yesterday’s sharp rally woke up disappointed Tuesday morning with the major indices in negative territory. Dow futures are down 13 points to 13,87. Nasdaq 100 futures are trimming 3 points to 2,774. The S&P 500 futures are rounding out the losses, down 2 points to 1,413.
Bernanke’s comments yesterday regarding his lack of trust in the labor markets continuing their growth helped bolster the rally. This was due to him saying that further stimulus is needed. It was a signal to some that QE3 could be just around the corner.
On the economic data calendar, two important reports are slated to be released this morning. The Case Shiller home price index is due out at 9am EST, while consumer confidence numbers are due out at 10am EST. Both will be watched closely for misses like previous data points over the past couple of weeks.
Commodities are a mixed bag this morning. Nymex crude futures are dipping on economic growth concerns. Oil prices are down 13 cents to $106.90.
The Bernanke speech has been a boon to gold prices. The metal is up $2.40 per ounce to 1,688.00 [Read more...]
Aastrom Biosciences, Inc. (NASDAQ:ASTM) is up 20.88% today at $2.20. ASTM has traded 2.7 million shares so far today, more than 10 times its average volume. ASTM shares are up today after the company completed $40 million in financing. The company has a market cap of 86.54 million.
Zeltiq Aesthetics, Inc. (NASDAQ:ZLTQ) is up 14.13% in midday trading at $6.46. ZLTQ has traded 770 thousand shares so far today, 3 times its average volume. Canaccord Genuity initiated coverage on Zeltiq today and gave it a buy rating. The company has a market cap of 219.33 million. [Read more...]
The market has recovered somewhat in midday trading, but is still in negative territory. Europe continues to be a problem as Greece still hasn’t gotten a deal done with their creditors. The Dow is down about 80 points right now, the Nasdaq is down 12 points and the S&P 500 is down 9 points.
Vringo, Inc. (AMEX:VRNG) is up 11.88% today at $1.13. VRNG has traded 456 thousand shares so far today, way above its daily average of 48 thousand shares. No news pushing the big volume spike on VRNG today. The company has a market cap of 6.98 million. Check out one of the best swing traders on the street.
Vistaprint (NASDAQ:VPRT) is up 8.28% in midday trading at $37.67. VPRT has traded 1.7 million shares so far today, nearly 3 times its daily average. VPRT shares have jumped more than $8 a share since the middle of the month. Vistaprint announced quarterly results last week and saw earnings beat expectations. The company has a market cap of 1.45 billion.
Heckmann Corporation (NYSE:HEK) is up 2.39% today at $5.14. HEK has traded 3.3 million shares so far today, 30% more than its daily average. HEK share have fallen nearly $2 over the past month and is looking to turn around. The company has a market cap of 605.70 million.
EMCORE Corporation (NASDAQ:EMKR) is down 11.90% today at $1.11. EMKR has traded 1.3 million in midday trading, more than double its daily average. EMCORE announced a 1 for 4 reverse stock split over the weekend that will become effective following the filing of an amendment to EMCORE’s corporate charter. The company has a market cap of 103.47 million. Check out one of the best swing traders on the street.
Sify Technologies Limited (NASDAQ:SIFY) is down 6.39% today at $4.69. SIFY has traded 792 thousand shares so far today and trades 875 thousand shares a day on average. SIFY announced fiscal third quarter results today. Revenue for the quarter was INR 1805 million. The company has a market cap of 395.93 million.
Hovananian Enterprises, Inc. (NYSE:HOV) is down 8.24% in midday trading at $2.45. HOV has traded 2.2 million shares so far today, above its daily average of 1.9 million shares. HOV shares are dipping today after rising more than 100% over the past month. The company has a market cap of 235.99 million.
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