The stock market is lower this morning as investors keep a close eye on Europe ahead of their EU summit on Friday. Today the ECB cut a key interest rate down to 1%, but said there is no plan for large scale government bond purchases. Some good news from the jobs market has helped the markets not sell off as much. Jobless claims fell to a 9-month low last week as weekly applications dropped by 23,000 to a seasonally adjusted 381,000.
The Dow is down 66.72 points today, the Nasdaq is down 16.64 points and the S&P is down 10.30 points. Here’s six stocks well into the green so far this morning.
DemandTec, Inc. (NASDAQ:DMAN) is up 55.28% this morning at $13.09. DMAN has traded 13.6 million shares so far today, well above its daily average of just 265 thousand shares. DMAN is up today after IBM said it plans to buy DMAN for $440 million in cash. DemandTec has a market cap of 436.03 million.
Affymax, Inc. (NASDAQ:AFFY) is up 35.03% this morning at $7.91. AFFY has traded 8.2 million shares so far today, more than 10 times its daily average. AFFY stock is soaring this morning after a government panel voted 15-1 to recommend U.S. approval for the company’s anemia drug. AFFY has jumped more than $2.50 a share over the past five trading days. The company has a market cap of 274.05 million.
Central European Distribution Corp. (NASDAQ:CEDC) is up 17.03% today at $5.98. CEDC has traded 1.7 million shares so far this morning and trades 2.5 million shares a day on average. CEDC is up today after Russian Standard Vodka offered to buy another 19.9% stake in the company. Central European Distribution has a market cap of 422.63 million.
Pacific Sunwear of California Inc. (NASDAQ:PSUN) is up 25.19% this morning at $1.69. PSUN has traded 2.2 million shares so far today, more than 4 times its daily average. PSUN announced it will be closing up to 200 under performing stores across the U.S. The company also announced it will get a five year, $60 million secured-term loan from Golden Gate Capital. Pacific Sunwear has a market cap of 107.48 million.
E Commerce China Dangdang Inc. (NYSE:DANG) is up 10.75% at $5.14 this morning. DANG has traded 985 thousand shares so far today and trades 1.9 million shares on average. The company has a current market cap of 400.31 million.
Pacific Ethanol Inc. (NASDAQ:PEIX) is up 5.51% today at $1.34. PEIX has traded 2.2 million shares so far today and trades 8.3 million shares a day on average. Over the past four trading days, PEIX has fallen from $1.60 to below $1.25. Pacific Ethanol has a market cap of 102.08 million.