Archive for July 21st, 2009

Unusual Options Activity: Plains Exploration & Production (PXP)

Plains Exploration & Production Company (NYSE: PXP) is trading more than 5,700 calls today, around 3X the norm, but the action is in the September $35 calls, where more than 4,065 have traded against no prior Open Interest, and shares are only at $28.74.  A large block of 2,000 bought at the offer is responsible [...]

VOLUME ALERT: Black Box (BBOX)

Black Box Corp. (Nasdaq: BBOX) shares are down 8 percent to $28.87, on nearly two times average volume as of 11:45 a.m. Eastern. Shares of the networking services company were downgraded this morning at Stifel Nicolaus to a Hold from Buy rating, citing potential risks to the company losing business with Nortel Networks Corp. (NYSE: [...]

VOLUME ALERT: Coinstar (CSTR)

Coinstar Inc. (Nasdaq: CSTR) shares are up 6 percent to $30.19, trading more than their average daly volume by 11:30 a.m. Eastern. The provider of Redbox rental kiosks signed a movie supply agreement with Sony Pictures that is expected to save the company over what it was paying to buy movies via wholesalers. The agreement [...]

VOLUME ALERT: Central European Distribution

Central European Distribution Corp. (Nasdaq: CEDC) shares are up more than 5 percent to $26.90. The vodka maker priced a public offering of 8.35 million shares at $24 each, which is expected to raise about $200 million in needed cash.  — Mike Tarsala

VOLUME ALERT: Human Genome Sciences (HGSI)

Human Genome Sciences Inc. (Nasdaq: HGSI) shares are up 17 percent to $14.72, on about 10 times average volume. The company late Monday said its Benlysta lupus treatment candidate met its primary and secondary endpoints. Analysts at ThinkEquity said the data favor approval, which could make it the first FDA-approved lupus therapy in more than [...]

PREMARKET ALERT: Werner Enterprises (WERN)

Werner Enterprises Inc. (Nasdaq: WERN) shares fell more than 6 percent to $18.10 on volume of about 132,000 shares. The company met EPS expectations of 18 cents a share, but revenue fell 30 percent from year-ago levels and was light of expectations. The company said second quarter 2009 freight comparisons were well below year-ago volumes. [...]

PREMARKET ALERT: CVB Financial

CVB Financial Corp. (Nasdaq: CVBF) shares fell 4.7 percent to $5.85 in after-hours volume of more than 27,000 shares. The company announced a $115 million stock offering. — Mike Tarsala

PREMARKET ALERT: Alkermes (ALKS, LLY, SNY)

Alkermes Inc. (Nasdaq: ALKS) shares rose 7 percent to $11.52, with more than 18,000 shares traded after hours. The company and its partner Eli Lilly & Co. (NYSE: LLY) announced that its long-lasting insulin Byetta provided superior glucose control vs. Sanofi Aventis (NYSE: SNY) Lantus long-acting insulin product in a head-to-head study. Lantus is the [...]

PREMARKET ALERT: Boston Scientific (BSX)

Boston Scientific (NYSE: BSX) is up nearly 6 percent to $10.90 in early premarket volume of about 1,100 shares. The company reported EPS of 20 cents a share excluding items, which still appears to be above analyst expectations of 13 cents a share. Revenue was nearly $2.1 billion, slightly above analyst expectations. — Mike Tarsala

PREMARKET ALERT: Packaging Corp. of America (PKG)

Packaging Corp. of America (NYSE: PKG) shares rose 14 percent to $20.60 after hours, and could be a volume gainer in early trading. The company beat EPS expectations by 12 cents a share (28 cents vs. 16 cents consensus). The company guided EPS for Q3 to 24 cents a share, vs. 12 cents consensus — [...]