U.S. stocks jumped right out of the gate Tuesday, hoping to break a two-day losing streak – and this makes for a long list of hot stocks to watch today.
All three major benchmarks were comfortably in the green in morning trading, with the Dow Jones Industrial Average up more than 110 points just minutes after the opening bell.
There were plenty of stocks moving sharply higher on company news, industry developments, analysts' actions, and earnings. Following are 12 of Tuesday's hot stocks to watch.
Today's Hot Stocks List
BG Medicine Inc. (Nasdaq: BGMD) shares surged more than 35% to a fresh 52-week high of $2.41 intraday. Just before noon, more than 10 million shares had changed hands, almost 10 times BGMD's average daily volume. Shares of the 14-year-old Waltham, Mass.- based company rose after positive results of large-scale multicenter research trials in the United States and Europe were published in the American Heart Journal. The trials included 902 heart failure patients and demonstrated that elevations of galectin-3 levels in blood, as measured using the BGM Galectin 3 Test, were significantly predictive of re-hospitalization for heart failure as early as within the first 30 days after discharge from an initial hospital stay.
CSX Corp. (NYSE: CSX) rose 1.7% to a new 52-week high of $29.45 after receiving a boost from Bank of America Merrill Lynch. BofA reiterated its CSX rating of "Buy" and $32 price target, but the railroad operator was added to the firm's key US 1 list and named one of its top picks for 2014.
Dyax Corp. (Nasdaq: DYAX) shares jumped 7% to $9.48 after RBC Capital Markets initiated coverage of the Burlington, Mass. company with an "Outperform" rating and a $15 price target. Founded in 1989, DYAX is a global biopharmaceutical firm that develops treatments for a number of rare diseases.