JDS Uniphase Corporation (NASDAQ: JDSU) is now trading down over 11% at $22.55 on over 500,000 shares pre-market as of 8:05 AM EST.  JDSU shares traded over 4.7 million shares in NASDAQ after-hours trading last night.

Oclaro, Inc. (NASDAQ: OCLR) is trading down 12.75% at $14.50 on over 20,000 shares at 8:05 AM EST.

Alcatel-Lucent (NYSE: ALU) is also down about 2.2% at $5.40 on over 200,000 shares at 8:05 AM EST.

CIENA Corp. (NASDAQ: CIEN) is trading down 5% at $24.40 on thin volume.  Harmonic Inc. (NASDAQ: HLIT) is down 2.3% at $9.35 on thin volume.  Alliance Fiber Optic Products Inc. (NASDAQ: AFOP) is down 2% at $12.75 on thin volume.

Finisar shares closed at $40.04 and the stock is now indicated down at $25.47 for a 36%+ drop and we already saw a whopping 575,000 shares traded as of 8:05 AM EST this morning.  Finisar went out at $25.70 on more than 4.3 million shares in the after-hours trading session alone.

JON C. OGG

This morning as early as 7:40 AM EST we have shares up around $3.80 on more than 30,000 shares.  The average volume here is about 2.6 million shares.  The 52-week trading range is $2.12 to $3.75, so today is likely to also mark a 52-week high.

The takeaway from last night and this morning is a simple one.  Look for an exponential volume move today.  The low share price will attract many new investors looking for that extra juice from low-priced stocks.  The magnitude of the beat is going to likely drive very active stock trading today for what was a market cap of $837 million.

JON C. OGG

Here is what you need to know… The dilution has been expected for quite some time and the details of this offering became much more clear at the start of this week.  We do not agree with necessarily every aspect of this call, but a fresh technical analysis was offered by INO in Molycorp and silver versus gold.

Shares are down 1.5% at $50.36 in the pre-market trading and we have seen more than 275,000 shares trade hands as of only 8:07 AM EST with nearly 90 minutes remaining in the pre-market.

Record volume days were as follows:

• January 24 at 11.35 million shares, $46.82 close;
• January 6 at 12.56 million, $52.86 close;
• January 4 at 14.395 million shares, $61.80 close;
• January 3 at 16.9 million shares, $57.50 close;
• December 28 at 16.67 million shares, $46.18 close;
• October 28 at 16.01 million shares; $33.89 close;
• IPO date of July 29 at 10.1 million shares; $12.85 close.

Today is very likely to challenge the record for an all-time high in share volume.  Oddly enough, not a single option strike price in Feb-2011 nor in March-2011 has an open interest of more than 10,000 contracts.

JON C. OGG

HHS designated the proposed contract as a small business set-aside at the time of the original solicitation in March 2009, and the ruling would render SIGA ineligible for the deal if not overturned.

The company maintains that SIGA appropriately qualified as a small business concern for this procurement and it will appeal the ruling.

SIGA Technologies is seeing a large drop in shares down 22% pre-market at $10.26 after a $13.22 close Friday.  The 52-week trading range is $4.83 – $14.38 and SIGA trades about 600,000 shares per day.  SIGA has options which trade but the PUT and CALL activity is usually low; expect that to change today.

JON C.OGG

Thomson Reuters had consensus estimates of $0.13 EPS $531.3 million in revenues.

Withdrawing guidance took shares lower last night by more than 10% at the worst part of the after-hours trading session.  Here is the thing to consider… MEMC is so battered even after a recovery rally that bad news may be good news here.  Shares are now down ‘only 2.5% at $12.36 on more than 1.5 million shares with about 40 minutes until the market opens for trading.

Sometimes bad news is not so bad in the grand scheme of things, even if the headlines and implications remain challenged at best.

The 52-week range is $9.19 to $16.99 and average daily volume is roughly 6 million shares per day.

JON C. OGG

What gets interesting is that reports were out Monday that Macau as a whole had seen a surge by 50% in revenues from gambling. This is also a profit ahead of schedule as next quarter is expected to show -$0.02 EPS.

Shares were already up against  52-week highs as the $6.52 close Momnday compared to a 52-week range of $3.26 to $6.55.  The pre-market trading has shares up 7.5% at $7.01 on more than 175,000 shares with over an hour until the market opens.

JON C. OGG

Zagg has traded 32,640 shares in pre-market trading this morning, compared with their average of 475,918.  The move also comes during a 52-week range of $1.90 to $7.00.

-Michael B. Sauter

-Michael B. Sauter

DryShips has traded 786,439 shares so far this morning at 8:35 AM EST.  The gain comes during a 52-week range of $3.28 to $7.62.

-Michael B. Sauter

The company expects current-quarter revenue in its creative solutions business, which contains Creative Suite 5, to be either flat or slightly down.

-Michael B. Sauter