Top Day Trader Alerts (ZUMZ, CNAM, PETM, MDVN, FSYS, STP, URBN, CIEN)

Posted in pre-market 
March 4th, 2010

These are this morning’s top day trader and active trader alerts seen in early pre-market trading.  We have offered the moves, a news summary, and brief color on each for trading references where applicable.

Zumiez, Inc. (NASDAQ: ZUMZ) shares are surging as a winner in cold weather themes after it said February same-store sales rose by more than 11%.  Shares are indicated up almost 12% at $17.90 on only about 8,000 shares as of 8:30 AM EST.

China Armco Metals, Inc. (NASDAQ: CNAM) is surging to new highs this morning after it entered into a scrap steel supply contract with a major China Steel producer.  The deal is valued up to $100 million this year.  Its market cap was only about $53 million before the news-pop.   Shares closed at $5.30 yesterday and at 8:30 AM EST we have shares up 41% at $7.51 on 55,000 shares.  Average volume is only about 109,000 and the old 52-week range (3-month only) was $3.00 to $5.90.

Petsmart Inc. (NASDAQ: PETM) is hitting new 52-week highs after the pet retail destination beat earnings and gave a strong outlook.  The old 52-week trading range was $16.17 to $28.10 and the shares are up 10.6% at $30.65 on about 50,000 shares as of 8:31 AM EST.

Medivation, Inc. (NASDAQ: MDVN) has been trading all over the place this morning after yesterday’s biotech implosion on its failed Phase III Alzheimer’s study.  We had seen a gain of almost 2% earlier but shares are down about 0.2% more at $13.07 at 8:28 AM EST on about 138,000 shares.

Fuel Systems Solutions, Inc. (NASDAQ: FSYS), a maker of alternative fuel components and systems, said Q4 earnings were $1.12 EPS vs. $0.98 expected; Revenue was $164 million vs. Thomson Reuters estimate of $158 million.  2010 guidance looks in-line to better as well.  Shares are up 5% at $29.69 on 75,000 shares as of 8:29 AM EST.

Suntech Power Holdings Co., Ltd. (NYSE: STP) is up after it beat earnings estimates: Q4 earnings were $0.27 EPS vs. $0.11 expected; Revenue rose almost 40% to $584 million vs. $470 million or so expected.  Shares are up 6% at $14.50 on 250,00 shares as of 8:29 AM EST.

Urban Outfitters Inc. (NASDAQ: URBN) is up after earnings rose by about 90% and after it exceeded analyst estimates; lower taxes helped, but it also had record sales and rising margins. Shares are up almost 5% at $34.99 on almost 30,000 shares as of 8:27 AM EST.

Ciena Corporation (NASDAQ: CIEN) is getting spanked on light earnings today after Q1 earnings fell short at -$0.12 EPS against Thomson Reuters estimates of -$0.06 EPS.  The telecom equipment player said revenue was up 5% to about $176 million, short of the $185+ million expected.  Shares are down 8.25% at $13.35 on almost 600,000 shares as of 8:28 AM EST.  Shares had been down under $13.00 earlier this morning.

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JON C. OGG

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