Hot Stocks to Watch: EGLE, THTI, CACI, WPRT, ZLCS, MDR

Wall Street signAfter a multi-day winning streak, the market is turning to the Fed to keep the rally going. His congressional testimony today will be closely watched. In prepared remarks, he has already stated that the Fed stands ready to act on any economic deterioration. The rest was his normal vague nuanced speech. If investors were hoping for the big QE reveal, lets just say they didn’t get it. Sign Up For Free Stock Alerts

Europe has returned to their rumor mill ways. The first was that Merkel was open to supporting Euro bonds, which was later denied. Spain’s bond auction was deemed a success thanks to heavy demand, but borrowing costs continue to be at unsustainable levels.

Those looking for actual easing policies versus vague hints or rumors can thank China. The PBOC cut rates overnight by 25 bps for lending and deposits. This helped spark the early rally on the street.

A quick look at the market has the three major indices well off their session highs. The Dow is up 79, the Nasdaq 6 and the S&P 6. [Read more...]

Hot Stocks to Watch: ARNA, GV, GWAY, MDR, RPRX, KERX

investment newsThe market is getting a boost from sentiment numbers climbing to their highest point since the recession began. Falling gas prices are getting most of the credit as they are helping to offset the softening labor market. The current economic conditions index jumped to 87.3 from 82.9 in April. Consumer expectations fell to 71.7 from 72.3. This is probably attributable to the labor market woes.

This was a much needed positive jolt this morning after markets were sent reeling on the JPMorgan news that they had lost $2 billion on their hedge trades.

The major indexes are all trading higher this morning with the Dow leading the way up 48 points. The Nasdaq and S&P are also positive, each up 21 and 6 points respectively. [Read more...]

Hot Stocks This Afternoon: MDR, BAC, F, MWW, MS, SPLS

Wall StreetStocks continue to trend slightly higher in afternoon trading as investors react to economic news from this morning. Jobless claims fell slightly last week to 351,000, 2,000 less than the prior week’s revised total. The market lost most of its early gains after manufacturing data fell below expectations. Stocks are still in positive territory this afternoon with the Dow up 45 points, the Nasdaq is up 27 points and the S&P 500 is up 10 points.

McDermott International, Inc. (NYSE:MDR) is up 16% today at $15.15. McDermott shares are up today despite posting disappointing fourth quarter results yesterday. The company’s EPS missed estimates by $0.16 per share and also missed on revenue. Guidance for fiscal year 2012 was in-line with analyst estimates. MDR has traded 8.9 million shares so far today, more than double its average volume of 3 million shares. The company has a market cap of 3.57 billion. [Read more...]

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