Top Day Trader Alerts (ICGN, SQNM, MPEL, ATHN, BSX, MCHP, GE)

Posted in pre-market 
March 16th, 2010

ICAgen Inc. (NASDAQ: ICGN) is soaring.  Shares closed at $0.54 on Monday and at 8:45 AM EST we have shares up 70% at $0.92 on about 85,000 shares.  Be advised that this micro-cap biotech was at $1.00 earlier this morning and that the 52-week trading range was $0.31 to $1.59.  The company reported positive results for its drug candidate in Phase IIa studies of its ICA-105665 for patients with photosensitive epilepsy.

Sequenom Inc. (NASDAQ: SQNM) was down marginally after its earnings report but then fell much more sharply after its conference call after earnings last night.  Shares are indicated down 17% at $6.42 on over 700,000 shares as of 8:45 AM EST.  The company will not offer financial guidance and plans to raise capital.

Melco Crown Entertainment Limited (NASDAQ: MPEL) was raised to “Outperform” from Neutral at Credit Suisse  on the belief that China will only be slow the growth of Macau on a limited basis as far as those casinos which are already established.  At 8:45 AM EST we have shares up 5% at $4.70 on 175,000 shares.

athenahealth, Inc. (NASDAQ: ATHN) is trading up after the company met earnings expectations.  The company restated its results from the year 2005 through the first three quarters of 2009, but it had already warned of this and said that its internal review completed.  We saw a 4% rise last night and at 8:42 AM EST we have shares up 7.2% at $39.96 on almost 30,000 shares.

Boston Scientific Corporation (NYSE: BSX) is trading up 1% this morninhg despite two analyst SELL calls.  This is after yesterday’s severe drop to $6.80 from $7.78 on over 240 million shares yesterday.  At 8:50 AM EST we have shares up 1% at $6.87 on almost 500,000 shares.  We would expect the volume to get substantially higher as the open nears.

Microchip Technology Inc. (NASDAQ: MCHP) is trading higher after modestly raising Q4 earnings to $0.42 EPS with an 8% revenue gain to roughly $270 million; Thomson Reuters was at $0.36 EPS and $264 million.  At 8:52 AM EST we have seen very light volume but the stock is up 3.1% at $28.70 versus a 52-week trading range of $19.66 to $29.56.

General Electric Co. (NYSE: GE) is trading up within striking distance of its 52-week highs.  Estimates were raised to above consensus at JPMorgan as losses are peaking after yesterday’s positive comments coming fro Goldman Sachs.  At 8:52 AM EST we have seen shares up 0.75% at $17.42 versus a 52-week trading range of $9.26 to $17.52.

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JON C. OGG

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