Archive for July 9th, 2009

VOLUME ALERT: YRC Worldwide (YRCW)

YRC Worldwide (Nasdaq: YRCW) shares have roughly doubled to $1.77 on 3 times their average volume shortly after 11:15 a.m. Eastern, after a tentative deal with the Teamsters may reduce its costs, and the company’s likelihood of bankruptcy. The deal modifies terms of the current labor agreement for its employees covered by the National Master [...]

VOLUME ALERT: Map Pharmaceuticals (MAPP, AZN)

MAP Pharmaceuticals Inc. (Nasdaq: MAPP) shares are down about 9 percent near $10, on opening volume of about 30,000 shares. The stock is reacting to plans to suspend its asthma drug candidate Unit Dose Budesonide, after licensing partner AstraZeneca (NYSE: AZN) decided to end a collaboration agreement.  — Mike Tarsala

VOLUME ALERT: Emulex (ELX)

Emulex Corp. (NYSE:ELX) shares are down nearly 13 percent to $8.45, having traded their average daily volume in the opening minutes of trading after the company rejected Broadcom Corp’s (Nasdaq: BRCM) sweetened buyout offer. Emulex says the $11 a share bid undervalues the company. The announcement is decreasing speculation that a deal is likely near-term. — Mike [...]

PREMARKET ALERT: Human Genome Sciences (HGSI)

Human Genome Sciences Inc. (Nasdaq: HGSI) shares are up more than 6 percent to $2.55 on volume of more than 120,000 shares as of about 8:30 a.m. Eastern. The company says data published in The New England Journal of Medicine supports the use of its human monoclonal antibody drug Raxibacumab for the treatment of inhalation [...]

PREMARKET ALERT: Rigel Pharmaceuticals

Rigel Pharmaceuticals Inc. (RIGL) shares are up more than 30 percent to nearly $15 as of premarket trading of about 100,000 shares around 8:30 a.m. Eastern. The company said earlier this morning that R788 produced significant clinical improvement in rheumatoid arthritis patients in the trial. The company hopes to start a Phase III trial in [...]

PREMARKET ALERT: Novavax (NVAX)

Novavax Inc. (Nasdaq: NVAX) shares are up more than 10 percent with nearly 100,000 shares traded in the premarket after the company announced a joint venture in India with Cadila Pharmaceuticals, called CPL Biologicals. The joint venture will focus on vaccines, biological therapeutics and diagnostics. CPL Biologicals also expects to develop the pandemic H1N1 influenza [...]

PREMARKET ALERT: NetApp (NTAP, DDUP, EMC)

The bid on NetApp Inc. (Nasdaq: NTAP) shares is higher, at $19 a share, ahead of premarket trading Thursday, as the company saved some dough, and actually made a little, by losing its bid for data storage company Data Domain Inc. (Nasdaq: DDUP) to EMC Corp. (NYSE: EMC). NetApp says it does not plan to [...]

PREMARKET VOLUME: California Pizza Kitchen (CPKI)

California Pizza Kitchen Inc. (Nasdaq: (CPKI) shares will be ones to watch for a potential volume spike higher early Thursday. The company last night said it sees second-quarter profit in a range of 24 to 25 cents a share, up from analyst expectations of 21 cents. The company’s cost-cutting efforts appear to be working, as [...]

PREMARKET ALERT: Alcoa notes signs of auto market stability (AA, CENX)

Alcoa Inc. (NYSE: AA) shares likely will be among the most active this morning. The stock rose more than 5 percent to $9.92 after hours Wednesday. The company kicked off the Q2 earnings season by beating expectations by 12 cents a share. Revenue fell 41 percent from year-earlier results to $4.24 billion, but were still [...]

PREMARKET ALERT: ScanSource (SCSC)

ScanSource Inc (SCSC) shares could be active in early Thursday trading. The computer product distributor’s stock had risen more than 8 percent to $26.50 in after-hours trade last night, after management guided fiscal Q4 sales ended in June above analyst expectations. The company now expects revenue in a range of $434 million to $442 million, [...]