Archive for June 24th, 2009

Ista Pharma shares move to 52-week high on volume (ISTA)

Ista Pharmaceutical Inc. (Nasdaq: ISTA) shares are up about 5% as of 1:45 p.m. Eastern on more than two times normal volume, and breaking to a new 52-week high. The move comes after the FDA did not find any serious safety problems with the company’s proposed Bepreve allergy eye drops, which is supposed to have [...]

Volume Alert: Rambus trades nearly 2 times average volume (RMBS)

Rambus Inc (Nasdaq: RMBS) shares are up about 2% on roughly 2 times average volume as of 12:30 p.m. Eastern Tuesday, after the chip technology company announced a $150 million offering of senior notes. The notes will pay 5% annually, have a convert price of $19.31, and mature in 2014. In a note today by [...]

Volume Alert: Sequenom attracts interest after Monogram takeout (SQNM)

Sequenom Inc. (Nasdaq: SQNM) shares are up nearly 10% on a strong volume as of 10 a.m. Eastern, as speculators appear to be analyzing its worth as a takeover candidate, now that genetic testing rival Monogram Biosciences Inc. (Nasdaq: MGRM) was acquired by LabCorp. for $4.55 a share, a 170% premium. Both companies are forwarding DNA-based [...]

Volume Alert: Oracle earnings push other techs higher

Oracle (ORCL) shares are now approaching a new session high, up more than 6% and trading nearly a third of its average daily volume in the opening minutes of the session, following a strong earnings report. The company’s results are helping to push other tech names higher, including Research In Motion (RIMM), which is up more [...]

Volume Alert: Cell Therapeutics (CTIC)

Cell Therapeutics Inc. (Nasdaq: CTIC) shares are up more than 8% on higher-than usual early volume after the company submitted a new drug application to the FDA for pixantrone to treat relapsed or refractory, aggressive non-Hodgkin’s lymphoma. The company has requested a priority review. If it’s granted it could lead to an FDA approval decision [...]

Volume Watch: Palm may be active on analyst actions ahead of earnings (PALM)

Expectations are running very high for Palm Inc. (Nasdaq: PALM) given the early success of its Pre handheld, and they just got a bit higher. RBC Capital Markets just raised its price target on PALM shares to $18 from $14 ahead of earnings scheduled for release tomorrow. It’s a price target chance that may carry [...]

The agriculture stocks that could benefit from Monsanto results (MON, POT, IPI, AGU, MOS)

Monsanto Co. (NYSE: MON) shares are up about 2% after the company beat earnings expectations by 8 cents a share, reaffirmed guidance for fiscal 2009, and said it remains committed to doubling its gross profit over the next three years. The company’s revenue was weak, but that was somewhat expected, due to its revised guidance in [...]

Stock indices spike: Homebuilders are on the watch list (CTX, TOL, LEN, DHI, PHM)

The Dow Jones Industrials (DJIA) spiked on volume at 8:30 a.m. Eastern, after the release of stronger-than-expected May durable goods orders. Orders rose 1.8%, vs. consensus expectation of a 0.9% decline. The prior month’s results were revised slightly lower, up 1.8% vs. the previously reported 1.9%. Stocks to watch later this morning may include Centex [...]

Earnings Alert: At first blush, Rite-Aid report is deceptively positive (RAD)

Rite Aid Corp. (NYSE: RAD) is a stock to watch for a volume spike this morning, after a close inspection of its mixed-bag results shows it was fairly positive relative to weak expectations. The biggest positive is that Rite-Aid reaffirmed fiscal year sales and adjusted EBITDA guidance, and the company made progress in cleaning up [...]

Premarket Alert: MEMC Electronic Materials (WFR)

MEMC Electronic Materials (NYSE: WFR) shares are down about 3% in heavy premarket volume after JP Morgan downgraded the stock to Underweight from Overweight, citing bigger-than-expected declines in average selling prices for polysilicon. If that’s the case, it could affect MEMC in the solar wafer business, where it might be forced to renegotiate lower price [...]