Top Day Trader Alerts (MDVN, PFE, NFLX, NOVL, COST, VISN)

Posted in pre-market 
March 3rd, 2010

These are this morning’s top day trader and active trader alerts seen moving on news and events.

Medivation, Inc. (NASDAQ: MDVN) is down almost 70% and at 52-week lows after its Dimebon failed in its Phase III trials to attack Alzheimer’s.  This is very active and will be the most active of all biotechs today with tens of millions of shares likely to trade.  At 8:42 AM EST we have seen 6.5 million shares and the last trade was $12.80.  The 52-week range was $13.36 to $40.49.

Pfizer Inc. (NYSE: PFE) is also indicated lower this morning as well as it was Medivation’s partner on Dimebon for the Alzheimer’s treatment. Pfizer is down 0.7% at $17.47 and it has seen 3.7 million shares as of 8:42 AM EST.

Netflix Inc. (NASDAQ: NFLX) was doing so well…. Yet this morning we saw 3 downgrades from BofA/Merrill Lynch, Kaufman Bros, and Susquehanna.  At 8:42 AM EST we have seen 44,000 shares trade hands and shares are down 4% at $66.20. The 52-week range is $34.11 to $70.00.

Novell, Inc. (NASDAQ: NOVL) is soaring after it got a buyout offer from a private equity group called Elliott and the price was at $5.75 per share in cash.  Shares were trading up above $6.00 last night after the news as many are likely betting that the company will say no or ask for more money.  This morning at 8:43 AM EST we have seen 20 million shares trade hands versus 4.7 million shares on average.  The stock is up 30% at $6.20.

Costco Wholesale Corporation (NASDAQ: COST) had some light earnings on the surface.  Its most recent quarter was $0.70 EPS vs. $0.72 estimates. Revenue rose 11% to $18.7 billion vs. estimates of $18.5 billion.  The problem is valuation here at almost 20-times forward earnings.  At 8:44 AM EST shares are down 3.8% at $59.00 on 475,000 shares and the 52-week trading range is $38.17 to $62.12.  Average volume is 3.4 million shares.

VisionChina Media, Inc. (NASDAQ: VISN) is getting hit hard.  The stock closed at $8.20 yesterday and the shares are down 26% at $6.05 on 685,885 shares as of 8:48 AM EST.  The average volume here is only about 400,000 shares after its earnings report.

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JON C. OGG

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