After six straight weeks of US equity gains, investors are taking a pause in mid-Monday trading as the European Central Bank tempered optimism by saying that reports of plans to cap European bond yields are “misleading.”
The Nasdaq Composite
(^IXIC) is down 0.07% to 3,074.56 points on trading volume of 668.36 million.
Lifting the Nasdaq up is Western Liberty Bancorp
(WLBC), up an impressive 34.04% to $3.82. The company’s shares were boosted after it was reported that Phoenix-based Western Alliance Bancorporation
(WAL) will acquire Western Liberty for $55 million.
Another strong performer is Rosetta Genomics
(ROSG), which gained 34.04% to $3.82. Shares of Rosetta, a company which develops and commercializes a full range of microRNA-based molecular diagnostics, have exploded in 2012. So far this year, it is up almost 83%.
(AAPL) is also experiencing a strong surge, up 2.45% to $663.97, in hitting another new all-time. Last Friday, the tech giant crossed the $600 billion mark for its market cap, and it has now overtaken Microsoft’s
(MSFT) peak cap of $618.9 billion in December 1999 to become the biggest stock ever.
It’s been a poor month for Facebook
(FB), but the social media company edged up 2.89% to $19.60 today, with Capstone Investments having upgraded it from Hold to a Buy rating, setting a price target of $26.
Capstone analyst Rory Maher said that there was potential "upside to the company's core business and potential returns from new businesses the stock price currently does not give the company credit for."
One of the Nasdaq’s biggest droppers today is Life Partners Holdings
(LPHI), which follows an 18% drop on Friday with a 30.61% fall to $1.36. The life-insurance provider is facing a lawsuit from Texas regulators that alleges that the firm misled investors about life expectancies of the insured.
(CERE) is also down 14.32% to $7.72 on mammoth trading volume of 134,124, versus the 30-day average of 10,976. The seed developer’s shares have now fallen below the $8.25 support level.
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.