Volume Spike Investor

National Bank of Greece SA (NYSE: NBG) is up on hopes that that either a German-led or EU-led bailout or aid package will end the country’s woes.  It is not just important by how much higher this stock is today, but the notion of the major trading volume is extremely important.  This has become the trader’s proxy stock for an EU or German bailout of Greece.

The 18.4% gain is more than impressive in the ADRs to $4.05.  Throughout this entire crisis yesterday was the zenith… 5,080,700 shares with a $0.52 loss to $3.42.  We still have 2 hours and 45 minutes of trading to go before the close and this has traded 8.87 million shares as of 1:17 PM EST.  This is more than 6-times normal trading volume of 1.46 million shares.

This number of shares won’t seem like much to the traders who trade $1 stocks that trade 50 million shares in a day.  But this is the most active trading day far going back to at least 2006.  That is called a proxy stock if you ever saw one.

JON C. OGG

These are some of the top trading stocks seen on price and volume moves for day traders and active traders:

Amgen Inc. (NASDAQ: AMGN) is trading up this morning by 2.25% at $58.75 on almost 200,000 shares on its report that its Phase III head-to-head trial evaluating Denosumab met its primary and secondary endpoints versus Zometa in a 1900+ study in the treatment of advanced prostate cancer that has progressed to bone metastases.

American Commercial Lines Inc. (NASDAQ: ACLI) is soaring as the top gainer on NASDAQ but on this volume.  The headline earnings were $1.09 EPS vs. $0.06 as revenue fell 16% to $226.9 million versus estimates of $222.5 million.  The revenue drop was blamed on commodities shipped by transportation customers and lower tow revenues as tons/mile volume declined was down 1.4%.  A large short interest exists here at 1.077 million shares or 11.5% of the float.  Shares are up 26% at $20.48 but on 13,000 shares.

Cell Therapeutics, Inc. (NASDAQ: CTIC) is up after a huge sell-off yesterday after the FDA postponed its Oncologic Drugs Advisory Committee Meeting to review Pixantrone due to severe snow conditions around the nation’s capital. Shares closed at $0.64 and are indicated up around $0.78 on 1.9+ million shares.  Shares were as high as $0.84 in earlier trading.

Cerus Corporation (NASDAQ: CERS) is trading up 16%, even above earlier indications, at $2.35 on 81,000 shares after the company reported positive results of its Phase 1 clinical trial of INTERCEPT red blood cells and on its report that it will collaborate with the French National Transfusion Service on INTERCEPT red blood cell development.

Electronic Arts Inc. (NASDAQ: ERTS) down 7.8% at $16.12 on 700,000 shares; very actively traded to downside last night; this after earnings were mostly in line with estimates but the company lowered guidance all the way out to Fiscal March-2011.

LCA-Vision Inc. (NASDAQ: LCAV) beat earnings this morning but just with a more narrow loss (-$0.19 EPS).  We have not paid attention to the rest of the data from the call but shares are down 9.5% at $5.35 on only about 12,000 shares.  This is rarely a stock that trades in the pre-market.

National Bank of Greece SA (NYSE: NBG) is seeing a major pop up this morning despite a Goldman Sachs downgrade that is way too late.  This is on the major overhaul proposed.  Shares are up 10% at $3.77 on about 40,000 shares.

Sequenom, Inc. (NASDAQ: SQNM) is trading up over 5% at $4.35 this morning on 60,000 shares after the company reported that it licensed the worldwide rights to develop age-related macular degeneration diagnostic test to Optherion and is expected to launch in 2011.

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Price snapshots as of 8:40 to 8:50 AM EST

JON C. OGG
FEBRUARY 9, 2010

These are this Monday morning’s top day trader and active trader alerts seen with price or volume moves.

Allied Irish Banks plc (NYSE: AIB) is seeing its ADRs trade lower yet again on concern of sovereign debt exposure in the PIIGS.  Shares are down 7.5% at $3.06 in early pre-market trading.

AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) is up on thin volume after the company issued a statement defending its recent troubles as the same percentages as had been indicated in testing.  The stock closed at $37.77 Friday and is up 5.9% at $40.00 on thin volume so far this morning.

CIT Group, Inc. (NYSE: CIT) is up 4% at $32.00 this morning after naming John Thain as CEO and Chairman of the company.

CVS Caremark Corporation (NYSE: CVS) is up 2.7% at $31.91 on over 50,000 shares after beating earnings expectations.

Hasbro Inc. (NYSE: HAS) is up after $1.09 EPS vs. $0.81 Thomson Reuters estimates.  Revenue rose over 11% to $1.37 billion vs. $1.33 billion estimates.  Shares are up 9% at $33.60 on almost 100,000 shares.

National Bank of Greece SA (NYSE: NBG) is seeing its ADRs down yet again over Greek debt risks and the concern in the PIIGS… Shares are down over 8% at $3.61 in early pre-market trading.

You are invited to join our free daily email distribution list to hear about top analyst upgrades and downgrades, IPOs and secondary offerings, ongoing day trader and options trader alerts, stock and market rumors, Buffett and guru investor news, M&A and more.

Price snapshots take right around 8:40 AM EST

JON C. OGG
FEBRUARY 8, 2010

It is hard to use Cisco Systems Inc. (NASDAQ: CSCO) for an options-bias for many time periods in general, but that has not been the case today not the case this week.  After a weekend review and considering that most key technology companies have beat earnings and then sold off, it was almost shocking that the options trading for the FEB10 Puts and Calls have been mostly in the Call options.  In short, there is a bullish bias.

As of 1:00 PM EST today, in the FEB10 contracts, there have been over 47,000 contracts in the various call strikes versus about 12,000 of the combined Puts.

Shares are down 0.3% at $22.95 on just over 30 million shares ahead of earnings… average volume is over 41 million shares and the 52-week range is $13.61 to $25.10.

JON C. OGG

Comsys IT Partners, Inc. (NASDAQ: CITP) is trading up big as the top winner so far this morning. Manpower is acquiring COMSYS for $431 million.  This translates to $17.65 per share.  At 8:47 AM EST we have seen 627,000 shares trade hands and the company is up 32% at $17.54.  The 52-week range is $1.82 to $13.65 and average volume is only about 45,000 shares per day.

JON C. OGG

D R Horton (NYSE: DHI) is trading higher on signs business may be turning around for the homebuilder which caters to first-time buyers.  The homebuilder reported a pre-tax income of $42.8 million or $0.56 EPS as revenue rose 23% percent to $1.1 billion. Thomson Reuters had estimates of -$0.13 EPS and about $960 million in revenue.  Homes closed rose 36% and pre-tax charges this quarter were only $1.2 million for inventory impairments and write-offs.  The net earnings number has items in it, but shares are higher this morning.  At 8;20 AM EST we have shares trading up 8% at $12.88 on almost 15,000 shares.  The average daily volume is $7.7 million shares and the 52-week trading range is $5.73 to $13.90.

JON C. OGG

Lexmark International Inc.(NYSE: LXK) is looking up almost 10% on earnings and this may mark a new 52-week high if it holds.  The printer company posted Q4 EPS of $1.16, above the $0.61 estimates.  Revenue fell 1% to $1.07 billion vs. $0.99 billion expected. Shares are up 9.7% at $26.80 on only about 15,000 shares as of 8:08 AM EST.  The average volume is just over 1.5 million shares and the 52-week trading range is $14.23 to $28.81.

JON C. OGG

There has been some increased trading activity in the stock of USEC Inc. (NYSE: USU).  This is based upon more belief that the loan guarantee denied last Summer may be back on because the Obama administration has talked about adding nuclear power and more loan guarantees tripling to possibly $54 billion in the 2011 budget that is supposed to be submitted Monday. The activity is taking place in the APRIL-2010 $5.00 CALLS and the $6.00 CALLS. So far we have seen 1,916 contracts trade versus an open interest of 3,824 contracts in the $5-strike and 1,654 contracts traded versus an open interest of 4,883 contracts in the $6-strike.

USEC shares are up 8% at $3.99 on 2.8 million shares as of 1:20 PM EST. The 52-week trading range is $3.22 to $7.24 and the average daily volume is now only 1.53 million shares.

JON C. OGG

Yucheng Technologies Limited (NASDAQ: YTEC) is getting killed after the IT-solutions provider for Chinese banks reported earnings.  The company’s guidance for 2010 is awful as a direct play on Chinese bank spending post-cuts that have now been mandated.

The company is offering some clarity over the Chinese loan-halt situation: “We believe that the prospective reserve ratio increase by the People’s Bank of China and the possibility that non-performing loans may increase in the near future, which would adversely affect the profits of Chinese banks, caused Chinese banks to reevaluate their spending and contract signings ahead of the New Year. As a result, contracts that management had been negotiating in the fourth quarter 2009 have slipped into 2010, and as negotiations progress may become more limited in scope or provide lower margins. We anticipate banks to remain cautious initiating new projects in the near term. Overall, the shifts in the banking market caused us to experience a revenue shortfall in the fourth quarter of 2009.”  In short, business is falling off a cliff.

The company issued guidance based upon uncertainty based on approximately 25% growth on the top-line and 10% to 15% growth on the bottom-line.  That puts first quarter 2010 expectations of revenues of $11.6 to $12.2 million and non-GAAP EPS of $0.08 to $0.10. Thomson Reuters has estimates at $0.08 and $13.5 million in revenues.

The 2010 annual guidance expectations are where things fall off the proverbial cliff…. revenues guidance $65 to $68 million and non-GAAP EPS of $0.30 to $0.36, versus Thomson Reuters estimates of $0.91 EPS and $84.14 million in revenues.

At 9:00 AM EST we have just hit 1 million shares and the average volume is 165,000 shares.  The price drop is horrific… -48% at $3.48.  The 52-week range had been $4.06 to $9.64.  Shares closed at $6.74 yesterday and had been $8.00 just two weeks ago.

JON C. OGG

Ford Motor Co. (NYSE: F) is seeing huge volume after the only remaining public US auto maker posted a full year profit for 2009.  That was unthinkable a year ago.  The shares are only up 2% at $11.80 as of 8:56 AM EST, but we have already seen 11.7 million shares trade hands.  Average volume is $97 million shares and the 52-week range is $1.50 to $12.14.  Keep in minds as far as the $12.00 handle… that price has not been seen since March 2005.

-JON OGG