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Today is the day where Americans go to the polls to cast their ballots for the next president, 1/3 of the senate and the entire house. Currently it is believed that the Democrats will keep control of the Senate (barely), the Republicans will maintain their ownership of the House and it is a toss-up for the White House. We expect a slow trading day today with all of this playing out coupled with the fact that we have no economic news out this morning. Tomorrow will be the day when the trading picks up, however it could be days before a winner is declared in the presidential race.

We do not have any economic news due out today.

Asian markets finished mixed:

All Ordinaries - up 0.22%

Shanghai Composite - down 0.38%

Nikkei 225 - down 0.36%

NZSE 50 - up 0.50%

Seoul Composite - up 1.05%

In Europe markets are trading higher this morning:

CAC 40 - up 0.70%

DAX - up 0.51%

FTSE 100 - up 0.48%

OSE - up 0.31%

Technology

We have discussed Towerstream (NASDAQ:TWER) in our articles before and we would like to do so again. The company reports earnings on Thursday and we expect to see a spike in volume as we are anticipating that this will be the quarter when the company announces the name of the national carrier which contracted with them to use their network. The assumption is that the company is AT&T, and if this can be confirmed it would be a huge coup for the company. Shares are currently priced at $3.13/share, look for 10-30% upside if a name is announced this quarter.

Investors saw shares in Vringo, Inc (NASDAQ:VRNG) rocket higher on rumors that the jury in the company's case versus Google asked for instructions on damages. True, the judge already ruled that Vringo was not entitled to damages in years past, but could collect on damages moving forward but that will only limit the total take that the company gets should they win. The shares had fallen sharply lately and bears built up a large short position, but it does appear that the bears may have potentially overplayed their hand after the move yesterday. Shares rose $1.18 (42.60%) to close at $3.95/share on volume of 16.4 million shares.

Financial

E-Trade Financial (NASDAQ:ETFC) saw shares rise $0.37 (4.40%) to close at $3.77/share as 5.4 million shares were traded yesterday on the heels of the company reporting that they would issue $1.3 billion in debt to replace older debt. It has been some time since the company was able to issue debt, and the proceeds from this sale will be used to pay off the instruments which come due in December 2015 and November 2017. There has been a lot of bad news surrounding this company over the past few years, and it did indeed almost go belly-up in the financial crisis. The company is still not fully recovered from that near death experience and lost a lot of ground to competitors since then. We could envision this one turning around and then being a serial buyback candidate in a big way, but that is most likely a few years down the road.

Shareholders in Radian Group (NYSE:RDN) saw shares trade lower by $0.55 (10.22%) to close at $4.83/share in the wake of the Barron's article which appeared this week. Volume also spiked to 12.4 million shares as the article questioned the company's practice of denying claims and believes that Radian could incur costs down the road in association with this practice. There is a pay wall in place, but those are easy enough to get around, on the article however for those interested the link is here.

Biotechnology

We noticed yesterday that shares in BioMarin Pharmaceuticals (NASDAQ:BMRN) were up strongly on positive news from late stage trials. The shares finished at $49.07/share after trading higher by $11.66 (31.17%) on volume of 13.1 million shares. The positive results in the late stage trials now has the company and investors focusing on the prospects of the GALNS drug and the market could see the company attempt to get approval for the medication sometime next year. The drug is a treatment for a genetic disorder known as Morquio A Syndrome.

Source: Today's Market News To Trade On: 5 Stocks Moving On News