Archive for September, 2010

10X Volume Spike Alert in Verint (VRNT)

Verint Systems Inc. (NASDAQ: VRNT) is showing nearly a 10X volume spike alert in the first 75 minutes of trading.  The WSJ noted that buyout shops are interested in it and Comverse assets in an acquisition.  Verint shares are up 14.85% at $29.62 on 751,000 shares as of 10:46 AM EST.  The average volume here [...]

DryShips Wins Drilling Contract

DryShips Inc. (NASDAQ: DRYS) is up 7.61% in pre-market trading this morning to $4.81.  This move follows news that the company a Letter of Award for exploration drilling offshore West Africa.  The contract is estimated to be worth $135 million. DryShips has traded 786,439 shares so far this morning at 8:35 AM EST.  The gain [...]

Decline In Adobe Software Demand

Adobe Systems Incorporated (ADBE) is down 20.52% this morning to $26.18 in pre-market trading after the company announced that demand for its product from Japanese and U.S. education customers had been weaker than usual.  At 8:35 AM EST Adobe has traded 4,533,702 shares, compared with the company’s daily average of 9,209,300 shares.  This drop in [...]

Vivus Weight Loss Drug Effective Over Two Year Period

Vivus Inc. (NASDAQ: VVUS) is up 9.55% to $6.77 in pre-market trading following an announcement that the company’s experimental weight loss drug, Qnexa, helped overweight people lose an average of 11.4% of their body weight after two years in a clinical trial for the drug.  Vivus has already traded 460,503 shares, which is a significant [...]

Avanir Moves On Potential FDA Approval

Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) was up 6.43% this morning to $24.33 as a PDUFA decision date of October 30 for the company’s drug, AVP-923, draws close, implying potential FDA approval.  At 8:35 AM EST Avanir had already traded 4,600 shares, compared with the company’s average of 1,527,350.  This move comes during a 52-week range [...]

Oracle Reports Rising Software Sales

Oracle Corporation (NASDAQ: ORCL) was up 3.98% this morning in pre-market trading to $26.37 following news that software sales had increased 25% for the company.  At 8:35 AM EST the company had already traded 1,018,675 shares, compared with the daily average of 29,926,200.  This move also came during a 52-week range of $20.10 to $26.63. [...]

FDA Approves New Drug From Savient

Savient Pharmaceuticals, Inc. (NASDAQ: SVNT) shot up this morning in pre-market trading on news that the US FDA has approved the company’s gout drug, called Krystexxa, for patients who do not respond to conventional therapy.  At 8:35 AM EST shares were up 27.24% to $18.78 and 1,032,537 shares have already been traded.  This beats the [...]

Is Radware For Real? (RDWR, HPQ, IBM)

Radware Ltd. (NASDAQ: RDWR) almost felt like an enigma wrapped in a riddle today, but a 38.4% gain to $38.59 on more than a 60-times normal volume spike is too impossible to ignore.  Options trading was very elevated in the SEPT-2010 and DEC-2010 options was off the charts. A Barron’s blog piece claimed that the [...]

Level 3 Offering Fall-Out (LVLT)

Level 3 Communications Inc. (NASDAQ: LVLT) is getting clobbered, and much harder than what you might expect considering the history of this company. Last night came an announcement from the company that it is offering $175 million in Convertible Senior Notes due 2016 in an underwritten offering, and it will give underwriters an option to [...]

Ironwood Sees Progress For New Drug

Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD) is up 16.98% at 8:35 AM EST this morning to $11.40 on reports that there have been positive late-stage clinical trials for the company’s new drug for treating irritable bowel syndrome and constipation.  The company has already traded 5,234 shares in premarket trading, compared with their daily average of 201,364. [...]