Top Day Trader Alerts (STEC, SLXP, NBG, GRMN, ADSK, ACAS)

Posted in pre-market 
February 24th, 2010

These are this morning’s top day trader and active trader alerts seen in the pre-market activity.  We have news summaries and background data where applicable on each.

STEC Inc. (NASDAQ: STEC) is getting crushed after last night’s news. We have seen three downgrades and expect more after the company continues to get hit on asset impairment charges.  After closing at $13.42, STEC is indicated down under $10.00 this morning.  Shares are down 29% at $9.43 on 700,000 shares as of 8:24 AM EST.  Look for volume to rise rapidly and surpass its 5 million average early.  The 52-week trading range here is $4.92 – $42.50.

Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP) closed at $24.25 and shares are up 18% at $28.65 on 200,893 shares as of 8:26 AM EST.  The company reported that the FDA Advisory Committee recommended approval Of XIFAXAN® (rifaximin) tablets for maintenance of remission of hepatic encephalopathy.

National Bank of Greece SA (NYSE: NBG) is now trading up almost 2% at $3.85 on almost 10,000 shares as of 8:24 AM EST after shares had been indicated lower earlier this morning pending yesterday;s Fitch downgrade of Greek banks.

Garmin Ltd. (NASDAQ: GRMN) is trading higher after earnings this morning.  The GPS and PND maker closed at $34.45 and shares are up 2.5% at $35.30 on 105,903 as of 8:30 AM EST.

Autodesk, Inc. (NASDAQ:ADSK) is trading up after its Q4 earnings beat analyst expectations.  We also saw a Buy upgrade at Needham.  At 8:30AM EST we have shares trading up about 6.7% at $27.40 on about 100,000 shares.

American Capital, Ltd. (NASDAQ: ACAS) is trading lower after its earnings on Tuesday night were short of expectations.  We have shares down 2.6% at $3.75 on 120,000 shares as of 8:32 AM EST.

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JON C. OGG

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