Afternoon Spy: Solar a Surprise Winner, Steve Jobs Returns (SQNS, TZOO, LDK, CSIQ, CIS, ASIA, LTD, PAL, SWC, AAPL, POT, MOS, APC)
Disappointing economic data on housing prices, manufacturing, and consumer confidence haven’t been enough to put a damper on stocks, as positive sentiment on bailout progress in Europe continues to carry the day.
Today’s Top tickerspy Indexes:
France Stocks and ADRs (up 4.5%, see graph): While European stocks are up today more or less across the board, the French stocks Index is being led by recent tech IPO Sequans Communications (SQNS), which soaring by over 20% today on no news. The semiconductor company is also helping the Specialty Semiconductor Stocks Index post a solid gain.
Dotcom Travel Stocks (up 3.7%, see graph): Travelzoo Inc (TZOO) is surging higher after analyst Morgan Keegan upgraded the firm to “outperform” from “market perform,” with a target of $101, citing the stock’s recent pullback and Travelzoo’s Local Deals product. The rest of the names in the sector are posting more modest gains.
Chinese Solar Stocks (up 3.2%, see graph): It’s a big rebound day for solar stocks as investors are focusing on positive analyst comments on LDK Solar Company (LDK) and news of a Canadian Solar (CSIQ) plan to team with GCL in China.
Chinese IT Stocks (up 3.3%, see graph): Camelot Information (CIS) shares are up on the company’s plans to participate in investor conferences and meet with analysts. The plans are intended to counter concerns that the company will be swept up in the wave of delistings that have hit many Chinese small caps. Rival Asiainfo-Linkage (ASIA) is also higher on speculation that it too will be able to weather the regulatory scrutiny.
Today’s Top Market Headlines
Solar Stocks Shine As Germany Vows To Give Up Nuclear Plants: With Germany announcing that it will wind down its nuclear energy program in the wake of Japan’s Fukushima nuclear disaster, all eyes are on solar as a potential beneficiary, especially because the industry has received extremely generous incentives from Germany over the past several years.
Palladium Rising as BMW Becomes Catalyst for Biggest Shortage in 32 Years: The bull market in palladium (and platinum) is extending, a boon to miners like North American Palladium (PAL) and Stillwater Mining (SWC).
Does Steve Jobs Return Mean He’s Back For Good?: Steve Jobs’ ability to continue to helm the company remains a huge issue for Apple (AAPL) investors, and news that he will appear at Apple’s upcoming developers conference has shares surging.
Anadarko Now Rated an “Outperform” at Wells Fargo: Integrated oil giant Anadarko Petroleum (APC) on Tuesday saw its rating, price target, and earnings estimates all boosted by analysts at Wells Fargo.
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