Archive for June 23rd, 2009

Auditor Favor & MGM Mirage Spike (MGM)

MGM Mirage (MGM) has spiked up in after-hours trading.  At 5:12 PM EST we have shares having closed at $5.84 and the after-hours trading is up about 8.4% at $6.33.  There has also been 1,121,322 million shares traded since the close of trading.  That is highly unusual trading in the after-hours session.  On review, its [...]

Halt Volume Alert: Huntsman (HUN)

Huntsman Corp. (NYSE: HUN) shares are halted after Credit Suisse Group (NYSE: CS) and Deutsche Bank AG (NYSE: DB) said they will end all litigation with Huntsman, and will settle for $316 million each. Also, Credit Suisse and Deutsche Bank will each provide $550 million of senior debt financing to Huntsman International, a subsidiary of [...]

Volume Alert: Thomson Reuters Corp. (TRI)

Thomson Reuters Corp. (NYSE: TRI) shares are down nearly 3% on roughly 2.5 times normal volume, after the company reiterated guidance, but proposed eliminating its U.K.-listed shares in favor of U.s. listed ones. The company’s action is to boost trading liquidity by having only one listing. Yet traders in London that are trading nothing but [...]

Lloyd's is a surprise U.K. play on housing numbers (LYG)

Lloyd’s Banking Group plc (NYSE: LYG) is up more than 10% as of 11 a.m. Eastern on about 1.2 times normal daily volume. The stock appears to be rocketing ahead on positive housing data in the U.S. that is raising speculative interest in one of the U.K.’s largest mortgage lenders. Analysts previously had pegged Lloyd’s [...]

Boeing trades more than its daily volume by 11 a.m. Eastern (BA)

Boeing Co. (NYSE: BA) shares are trading about 7% lower on more than its normal day’s trading volume as of 11 a.m. Eastern. The aerospace giant announced this morning that first flight of the 787 Dreamliner will be postponed due to a need to reinforce an area within the side-of-body section of the aircraft.  See [...]

Intersil's upside surprise leads to stock downside (ISIL)

Analog chipmaker Intersil’s (ISIL) shares are trading about 3% lower on strong early volume as of 10:45 a.m. Eastern, even after the company raised second-quarter revenue guidance. It’s what the company didn’t say that appears to be hitting the stock. The worry among some market participants is that the upside in revenue is driven by [...]

Dendreon shares slide on Provenge delay worry (DNDN)

Dendreon (DNDN) shares are trading about 4% lower on a sudden surge in volume as of about 10 a.m. Eastern this morning. Market participants appear to be questioning if the timing of a plant buildout laid out in a filing late yesterday means that the company’s Provenge drug could be delayed.  — Mike Tarsala For [...]

Compugen gains after taking small step toward large market (CGEN)

Compugen Ltd (CGEN) shares are up more than 25% on strong early volume after the small company announced positive therapeutic effects of a novel peptide in an animal model of treating inflammatory bowel disease. The company said that in a recently completed study of TNBS-induced colitis, the administration of CGEN-25007 protected mice from the effects [...]

Halozyme wilts under weight of dilutive offering (HALO)

Halozyme Therapeutics Inc. (Nasdaq: HALO) shares are down 16% on fairly strong volume in the first 10 minutes of trading. The company raised $40 million in public stock offering of 6.15 million new shares. The issue price, however, was at $6.50, below HALO’s closing price on Monday.

Implanted device market sees hopeful news (BSX)

Boston Scientific (NYSE: BSX) shares are up 7% in strong premarket trading after the company and The University of Rochester Medical Center announced that the landmark MADIT-CRT trial has met its primary endpoint. The preliminary results showed the cardiac resynchronization therapy defibrillators with a significant 29% reduction in death or heart failure interventions when compared to [...]