Top Day Trader Alerts (QCOM, CRZO, DNDN, TRA, CF, NTRI, SPLS, NUHC)

Posted in pre-market 
March 2nd, 2010

These are this morning’s top day trader and active trader alert stocks seen on the move with news events.  We have provided appropriate trading data and color on each where applicable.

QUALCOMM Corp. (NASDAQ: QCOM) has done something to try to halt what has been a share price freefall after 7 straight down days.  The CDMA chipset designer announced a new $3 billion buyback program and announced that it was raising its quarterly dividend to $0.19 from $0.17.  Even at 8:28 AM EST we have seen over 750,000 shares trade hands and the stock is up 3.3% at $36.75.

Carrizo Oil & Gas Inc. (NASDAQ: CRZO) rose last night and is indicated higher again.  Jim Cramer interviewed the company CEO on CNBC’s Mad Money as a natural gas winner that still has room to improve. Volume is thin this morning so far but shares are indicated up 4% at $25.27.

Dendreon Corporation (NASDAQ: DNDN) is trading lower this morning.  TheStreet.com has highlighted an independent report claiming that the company’s PROVENGE is likely to be brought before an FDA panel.  The reason for the drop is that most expected this to go straight to the approval process which is due on or before May 1.  Shares are down almost 7% at $30.25 on over 500,000 at 8:30 AM EST.

Terra Industries Inc. (NYSE: TRA) is back in the spotlight as the target of CF Industries Holdings, Inc. (NYSE: CF).  CF is offering $47.40 for the company.   This is likely to put a focus on other fertilizer and potash companies today despite poor earnings data from the group.  CF is down 7% at $100.20 on almost 300,000 shares and Terra is up 12% at $46.35 (a new 52-week high above $43.13) on over 7.5 million shares as of 8:25 AM EST.

NutriSystem Inc. (NASDAQ: NTRI) is trading down sharply after earnings.  The company posted positive earnings for its Q4 period but guidance for the coming quarter is proving to be a very weak Q1.  Shares were down 12% at $16.50 last night in active trading and this morning at 8:25 AM EST we have shares down 14.3% at $16.19 on 170,000 shares in the pre-market.  Average volume is about 1.05 million shares and the 52-week range is $11.58 to $33.54.

Staples Inc. (NASDAQ: SPLS) is trading lower after earnings.  It posted $0.38 non-GAAP EPS vs. $0.39 estimate from Thomson Reuters and gave guidance for the coming quarter of $0.25 to $0.27 EPS versus estimates of $0.27.  At 8:25 AM EST we have seen 260,000 shares trade and the last print was down 6.2% at $24.25.  This was already very close to 52-week highs as its range of the last year is $14.35 to $26.00.

Nu Horizons Electronics Corp. (NASDAQ: NUHC) is usually thin volume.  But it and Xilinx are terminating a distribution pact.  Nu Horizons usually trades about 44,000 shares per day.  The market is not even open yet and at 8:33 AM EST we have seen 40,000 shares trade hands and the stock is down 28% at $3.14 to be the biggest percentage loser of the day.  The stock closed at $4.40 yesterday and the 52-week range is $1.45 to $4.68.

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JON C. OGG

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