Volume Spike Investor

ARIAD Pharmaceuticals Inc. (NASDAQ: ARIA) was up big on Friday after the close on no confirmed news.  This morning the news came out that ARIAD and its co-plaintiffs announced that the Court of Appeals granted their petition for rehearing ‘En Banc’ in the Lilly NF-kB patent lawsuit.  At 8:31 AM EST we have shares up 10.85% at $2.35 on over 220,000 shares.  Shares were also up big on Friday after the close before the news was out.  Average volume is only about 2 million shares, so between Friday evening’s volume of almost 500,000 shares and this morning’s volume there has already been close to a half-day’s volume since the close on Friday. -JON OGG