Hot Stocks to Watch: RDN, MW, NAV, IMUC, MTG, AKS

Wall Street signStocks are in the midst of a major rally today thanks to the ECB agreeing to a new bond buying program. Each of the major stock averages are up nearly 2% with the Dow up more than 200 points at midday. At a press conference in Frankfurt, Draghi said the new ECB bond buying program will be a “fully effective backstop.”

Investors were also happy to see a couple of positive economic reports today. According to the Institute of Supply Management (ISM), the service sector posted a 53.7 reading in August. Most economists were expecting a reading of 52.5. Anything above 50 indicates growth in the sector. Private businesses added a touch over 200,000 jobs according to the ADP report. This number is well above economists expectations of 145,000.

A quick look at the markets show the Dow up 239 points, the Nasdaq is up 64 points and the S&P 500 is up 27 points. [Read more...]

Stocks Trading Lower in Pre Market for June 7: MOH, MW, NAV, LULU, ABR

Traders at the NYSEMolina Healthcare Inc. (NYSE:MOH) is down 21.97% in pre market trading at $20.10. MOH has traded 250 thousand shares this morning and averages 800 thousand shares a day on average. MOH shares are tanking today after the company recalls its 2012 earnings guidance due to uncertainties regarding medical costs in Texas. The company has a market cap of 1.19 billion. Sign Up For Free Stock Alerts

The Men’s Wearhouse, Inc. (NYSE:MW) is down nearly 20% this morning as the company misses EPS estimates for the first quarter. Men’s Wearhouse reported a first quarter profit of $0.53, missing estimates by $0.02. The company also issued disappointing guidance for the second quarter. MW has traded 14 thousand shares in pre market and averages 660 thousand shares a day on average. The company has a market cap of 1.80 billion. [Read more...]

Top Midday Performers for 12/07: MNI, MIND, MW, DEXO, GBG, RITT

Stocks are rising from their lows this morning but the major stock indices are still negative on the day. The Dow is down 4 points, the Nasdaq is down 13 points and the S&P is down 5 points. Investors are uneasy today as they begin to doubt whether or not anything will get done at the European summit later this week. “This is still a headline-driven market and when confidence is shook, borrowers will continue to sit on the sidelines,” said Kevin Brungardt, chairman of RoundPoint Financial Group. “Europe is driving this market and if they are unable to contain the contagion, then that hampers our ability to diminish the unemployment rate and diminish our ability to grow.”

Let’s take a look at the top performing stocks in midday trading today.

The McClatchy Company (NYSE:MNI) is up 38.14% today at $1.63. MNI has traded 6.7 million shares so far today, way above its daily average of 715 thousand shares. MNI stock is up today after the company provides outlook. The company saw ad revenue improve and cut debt by $140 million in fiscal year 2011. The McClatchy Company has a market cap of 144.34 million.

Mitcham Industries Inc. (NASDAQ:MIND) is up 23.81% at $20.23. MIND has traded 1.1 million shares so far today, 10 times its daily average volume. MIND reported third quarter sales of $28 million beating analysts estimates of $23.3 million. MIND stock is up more than $5 a share over the past week. The company has a market cap of 217.75 million.

Men’s Wearhouse, Inc. (NYSE:MW) is up 16.59% at $31.70 in midday trading. MW has traded 2.1 million shares so far today, well above its daily average of 733 thousand shares. Men’s Wearhouse raised its full-year earnings forecast to at least $2.28 a share beating analysts expectations. The company has a current market cap of 1.62 billion.

Dex One Corporation (NYSE:DEXO) is up 19.72% at $1.70 in midday trading. DEXO has traded 1.6 million shares so far today, 500 thousand more shares than its daily average. DEXO is up today after it had a bit of a sell off that started last Friday. Before today’s bounce, DEXO had fallen from around $1.80 to $1.40. The company has a market cap of 81.87 million.

Great Basin Gold Ltd. (AMEX:GBG) is up 14.85% in midday trading at $1.16. GBG has traded 3.7 million shares so far today, nearly a million more shares than its daily average volume. The company executed $150 million credit facility today. Great Basin has a market cap of 552.16 million.

RiT Technologies Ltd. (NASDAQ:RITT) is up 11.86% at $5.00 in midday trading. RITT has traded 283 thousand shares so far today, well above its daily average volume of just 14 thousand shares. RITT has been trading higher the past two days after reporting results of annual shareholder meeting. RITT stock has moved up $0.50 over the past two days. The company has a market cap of 23.32 million.

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