U.S. Markets Overview: Key Indexes Up, Financial Stocks Leading, Computer Peripherals Industry In Top List, Hot Stocks – (MMM, MS, CNDO, AIG, JNJ, CCL, ALXA, PLX, RGEN, ARNA, KMB, TROW, KEG)
U.S. stocks opened sharply higher today, healing from the market’s second-worst loss this year as banking sector gained and fears over Europe were put on the back burner.
All three key indexes including NASDAQ Composite (INDEXNASDAQ: IXIC) S&P 500 (INDEXSP: INX) and Dow Jones Industrial Average (INDEXDJX: .DJI) are up in start today.
Financial stocks are leading and surged at opening today, after Moody’s Investors Service cut the credit ratings of 15 of the world’s largest banks late on Thursday. Investors’ relatively optimistic sight of the downgrades is likely because of relief that the downgrades were less than expected, with many analysts predicting that the top banks would fall three notches.
Computer Peripherals stocks are leading industries.
3M Co (NYSE:MMM) is struggling to keep price above breakeven level as it is set to buy Federal Signal Technologies Group.
Morgan Stanley (NYSE:MS) is trading up after Moody downgraded the firm’s credit rating by just two notches, instead of the possible three notch cut.
Coronado Biosciences Inc (NASDAQ:CNDO) started trading in positive territory after its boosted offering of 5 million shares valued at a price 6.7% below Thursday’s close.
American International Group Inc. (NYSE:AIG) is up after it docked the compensation-package of Henri Courpron, the chief executive of its aircraft-leasing unit as the bailed-out insurer recently discovered he had a personal relationship with an employee.
Despite the U.S. Food & Drug Administration rejecting anti-clotting drug Xarelto for treating patients with a heart problem, known as acute coronary syndrome, Johnson & Johnson (NYSE:JNJ) is starting in green.
Carnival Corporation (NYSE:CCL) is in red territory after releasing quarterly earnings.
Alexza Pharmaceuticals Inc. (NASDAQ:ALXA) is up 40% after it resubmitted a new drug request to the Food and Drug Administration for its Adasuve entrant.
Harvest Natural Resources Inc. (NYSE:HNR) traded up by 80% after the energy company entered into a deal to sell some Venezuelan assets for approximately $725 million.
Protalix BioTherapeutics Inc. (AMEX:PLX) plunged 11% following a ruling against recommending taliglucerase alfa by the European medical authorities.
Repligen Corporation (NASDAQ:RGEN) tumbles after the FDA provided a complete response letter on one of its drugs used for the treatment of pancreatitis.
Top stock this year Arena Pharmaceuticals Inc. (NASDAQ:ARNA) continued to hit new 52 week high today but is now trading down.
The rating firm Argus upgraded both the Pep Boys – Manny, Moe & Jack (NYSE:PBY) and Kimberly Clark Corp (NYSE:KMB) to its buy rating. It also initiated coverage with buy rating on shares of T. Rowe Price Group Inc. (NASDAQ:TROW)
The brokerage firm FBR Capital today downgraded Key Energy Services Inc. (NYSE:KEG) from Outperform to Mkt Perform, while moving ITT Corporation (NYSE:ITT) to Underperform from Mkt Perform.