Pre-Market Update – Gapping Stocks ( GM, BMY, WYNN, FDX, SIRI )

Greek concerns appear to have diminished with the confidence vote received by the new government officials, however this could re-appear on investors mind as no real permanent solution has been given yet.

General Motors ( NYSE:GM ) is trading flat in today’s pre-market as its positive momentum from the previous session attempts to spill over. General Motors outperformed the market yesterday, after the stock broke above its 20 day moving average. Also comments by sources from the Obama Administration with regards to their exit from their remaining stake in the company provide support to General Motors stock.

Bristol Myers Squibb ( NYSE:BMY ) is surging in pre-market trading with its stock higher by close to 6%, after the company announced successful drug tests. Bristol Myers said that ELIQUIS® (apixaban), an anti-clotting drug met primary and key Secondary endpoints in Phase 3 Aristotle Study. Also Bristol Myers announced a $0.33 quarterly dividend with a payable date in early August.

Wynn Resorts ( NASDAQ:WYNN ) is trading lower in pre-market action, as the stock was not able to break above its 20 day moving average acting as resistance. Wynn stock has been under pressure on concerns over the slowing growth and stubbornly high unemployment, amid high crude oil prices affecting travel this summer. Currently Wynn price action has calculated support at $128.15, and its 200 day moving average comes at $120.

FedEx ( NYSE:FDX ) is trading fractionally higher in pre-market action as positive momentum spills over to today’s session. FedEx reported earnings and boosted its outlook yesterday, with the company having a quarterly profit of $1.75 per share, $0.02 better than consensus, on revenues that jumped 12% year over year to $10.55 billion versus consensus of $10.39 billion. FedEx fiscal first quarter guidance was boosted from $1.40 to $1.60 EPS versus consensus of $1.42 and FY 2012 EPS of $6.35 to $6.85 versus consensus of $6.49. S&P Equity raised its price target o $120 from $113, while JPMorgan resumed its coverage with Overweight.

Lastly, let’s look at Sirius XM Radio ( NASDAQ:SIRI ) that ended yesterday’s session higher despite the overall market weakness. Sirius XM stock was able to bounce from a dip to $1.88 as the stock corrected from $2.40 on investors booking profits amplified by a dismal auto sales number. Sirius XM current resistance stand at its declining 20 day moving average currently set at $2.10. Sirius had a very strong run post earnings on May that pushed the stock from $1.85 level all the way to the $2.40s, as the company said it had higher subscriber growth and profitability.

(FIG, CLNO, CRWE, KID, KRG) Stock Market Updates by StockHotTips ...

Fortress Investment Group (NYSE:FIG) announced that it elected not to pay a dividend in the second quarter of 2011. The Board elected to retain capital for potential future investment opportunities and for working capital purposes.

Fortress Investment Group LLC is a public investment firm specializing in investments in debt and equity securities of public and privately held companies. The firm invests in distressed and undervalued assets and tangible & intangible assets such as real estate, capital assets, natural resources and intellectual property.

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Cleantech Transit Inc. (CLNO)

Cleantech Transit, Inc. is pleased to announce it has completed an agreement whereby it can earn a larger ownership percentage in the 500 KW bio mass Merced Project than previously announced.

Cleantech can now earn in up to 40% of the Merced Project up from the original 25% the Company announced. The 40% ownership stake will be based on the total cost incurred to the Project to date, in addition Cleantech can invest the in the Series B shares of Phoenix Energy equal to or greater to the direct investment made in 500 KW project.

Biodiesel, an ester, is made using vegetable oils, animal fats, algae, or even recycled cooking greases. It can be used as a diesel additive to reduce vehicle emissions or in its pure form to fuel a vehicle.

Heat can be used to chemically convert biomass into a fuel oil, which can be burned like petroleum to generate electricity. Biomass can also be burned directly to produce steam for electricity production or manufacturing processes.

Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects that can maximize shareholder value. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy has to offer.

For more details about Cleantech Transit Inc. visit their website: www.cleantechtransitinc.com

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Crown Equity Holdings, Inc. (CRWE)

Crown Equity Holdings Inc. advertises your businesses adjacent with their digital network content to their targeted audience, which are educated high income individuals.

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