Volume Spike Investor » SQNM

Volume Spikes From Secondary Offerings (SQNM, DRYS, TOO, QLIK)

247admin — Fri, 03 Dec 2010 15:02:50 +0000

Secondary offerings often create volume spikes in the shares, but we are seeing moves in several key stocks with secondary offerings. The moves are in Sequenom, Inc. (NASDAQ: SQNM), DryShips Inc. (NASDAQ: DRYS), Teekay Offshore Partners LP (NYSE: TOO), and Qlik Technologies Inc. (NASDAQ: QLIK).

Sequenom, Inc. (NASDAQ: SQNM) said the underwriters of its offering that priced on December 2, 2010 have exercised in full their overallotment option to purchase an additional 2,100,000 shares; so the offering will total 16,100,000 shares at $6.00 per share for total gross proceeds of $96.6 million to Sequenom. Shares are down 1.8% at $6.63 on almost 300,000 shares as of 9:50 AM EST; yesterday shares closed down only $0.06 at $6.75 but that was on more than 9.7 million shares.

DryShips Inc. (NASDAQ: DRYS) is soaring on word that its Ocean Rig UDW Inc. subsidiary plans to offer roughly $500 million of stock via a private placement to raise funds for the construction of its deepwater drillships. DryShips at 9:50 AM EST is trading up almost 9% at $5.70 on 11.7 million shares versus an average volume of 14.9 million shares and versus a 52-week range of $3.28 to $6.95.

Teekay Offshore Partners LP (NYSE: TOO) is down 5.7% at $27.43 on more than 1.1 million units after it priced 5.6 million units at $27.84 to buy more ships. Average volume is only 222,000 units a day and the 52-week range is $16.89 to $29.94.

Qlik Technologies Inc. (NASDAQ: QLIK) sold 11.5 million shares in a public secondary offering at $23.00 per share. Shares have recovered and are down now ‘only’ by 1.1% at $23.09 versus a post-IPO trading range this year of $14.00 to $27.70. Volume is through the roof at 2.2 million shares versus only about 350,000 on an average day.

These are not even all of the secondary offerings today.

JON C. OGG

Top Day Trader Alerts (AMSC, BIDU, CTIC, ISSI, JSDA, MEE, ONTY, SQNM, SOMX)

247admin — Tue, 23 Mar 2010 12:52:40 +0000

We have many stocks on the move this morning. Some are secondary offerings and many are on news and analyst calls. Below is a snapshot on each with the news, the move, relative price and average daily volume and other pertinent color where applicable.

American Superconductor Corporation (NASDAQ: AMSC) is launching after the company was raised to Buy at Jefferies. At 8:40 there have only been about 26,000 shares traded, but the stock is up 6.6% at $27.88. The 52-week range is $15.80 to $43.95 and the average volume is almost 1.2 million shares.

Baidu, Inc. (NASDAQ: BIDU) is rising yet again, this time on a very late upgrade from Kaufman Bros to Buy from Hold. Shares closed at $579.72 and are up 2.5% at $594.53 on about 100,000 shares as of 8:40 AM EST. We have the 52-week now at $628.50.

Cell Therapeutics, Inc. (NASDAQ: CTIC) is seeinga surprise bounce this morning after yesterday’s news that an FDA Panel at the planned meeting rejected its Pixantrone to fight non-Hodgkin’s Lymphoma. There seemed to be a major sentiment change yesterday, but this morning at 8:41 AM EST we have seen already over 4 million shares trade hands and the stock is up 34% at $0.63. Keep in mind that this was at $0.91 on Friday, and that was after a late day sell-off. Shares closed at $0.471 yesterday.

Integrated Silicon Solution, Inc. (NASDAQ: ISSI) closed at $7.49 and at 8:40 AM EST we have shares up about 15% at $8.65 on almost 25,000 shares. This is after the company raised guidance and noted that it has experienced better than expected end market demand and pricing, primarily for its DRAM products.

Jones Soda Co. (NASDAQ: JSDA) is indicated higher this morning after it ended the exclusivity provision of its potential merger deal with Reed’s (REED) . The company will now explore an unsolicited bid by a third party to avoid the silly take-under. No volume has been seen but the stock is indicated at $0.60 after a $0.52 close Monday.

Massey Energy Company (NYSE: MEE) filed last night to sell 8.5 million shares of common stock in a public secondary offering to fund a portion of the cash consideration related to its recently announced $960 million combined cash and stock acquisition of Cumberland Resources Corporation and affiliated companies. At 8:42 AM EST we have seen only about 12,000 shares trade but the stock is down 3% at $49.29. The 52-week range is $9.80 to $54.09 and the average volume is 4.6 million shares.

Oncothyreon Inc. (NASDAQ: ONTY) is getting whacked. The company announced the temporary suspension of Stimuvax clinical trials by Merck Serono for Stimuvax as a result of a suspected unexpected serious adverse reaction in a patient with multiple myeloma participating in an exploratory clinical trial. Shares had been halted and they had been down over 40% after the resumption of trading. At 8:42 AM EST shares are down 37% at $3.00 on 62,000 shares. The average volume here is only about 160,00 shares and the 52-week range is $1.18 to $7.77.

Sequenom Inc. (NASDAQ: SQNM) is soaring after the stock was raised to Buy from Hold at Lazard. At 8:43 AM EST we have seen some 500,000 shares trade hands and the stock is up 11% at $6.15.

Somaxon Pharmaceuticals, Inc. (NASDAQ: SOMX) has been very active and is taking advantage of strength to raise capital, which is no surprise at all. After the close it announced that it would sell up to 4,000,000 shares of its common stock a public secondary offering. Traders seem to be endorsing this sale because the stock is up 3% at $8.55 on over 200,000 shares as of 8:44 AM EST.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Top Day Trader Alerts (ICGN, SQNM, MPEL, ATHN, BSX, MCHP, GE)

247admin — Tue, 16 Mar 2010 13:00:44 +0000

ICAgen Inc. (NASDAQ: ICGN) is soaring. Shares closed at $0.54 on Monday and at 8:45 AM EST we have shares up 70% at $0.92 on about 85,000 shares. Be advised that this micro-cap biotech was at $1.00 earlier this morning and that the 52-week trading range was $0.31 to $1.59. The company reported positive results for its drug candidate in Phase IIa studies of its ICA-105665 for patients with photosensitive epilepsy.

Sequenom Inc. (NASDAQ: SQNM) was down marginally after its earnings report but then fell much more sharply after its conference call after earnings last night. Shares are indicated down 17% at $6.42 on over 700,000 shares as of 8:45 AM EST. The company will not offer financial guidance and plans to raise capital.

Melco Crown Entertainment Limited (NASDAQ: MPEL) was raised to “Outperform” from Neutral at Credit Suisse on the belief that China will only be slow the growth of Macau on a limited basis as far as those casinos which are already established. At 8:45 AM EST we have shares up 5% at $4.70 on 175,000 shares.

athenahealth, Inc. (NASDAQ: ATHN) is trading up after the company met earnings expectations. The company restated its results from the year 2005 through the first three quarters of 2009, but it had already warned of this and said that its internal review completed. We saw a 4% rise last night and at 8:42 AM EST we have shares up 7.2% at $39.96 on almost 30,000 shares.

Boston Scientific Corporation (NYSE: BSX) is trading up 1% this morninhg despite two analyst SELL calls. This is after yesterday’s severe drop to $6.80 from $7.78 on over 240 million shares yesterday. At 8:50 AM EST we have shares up 1% at $6.87 on almost 500,000 shares. We would expect the volume to get substantially higher as the open nears.

Microchip Technology Inc. (NASDAQ: MCHP) is trading higher after modestly raising Q4 earnings to $0.42 EPS with an 8% revenue gain to roughly $270 million; Thomson Reuters was at $0.36 EPS and $264 million. At 8:52 AM EST we have seen very light volume but the stock is up 3.1% at $28.70 versus a 52-week trading range of $19.66 to $29.56.

General Electric Co. (NYSE: GE) is trading up within striking distance of its 52-week highs. Estimates were raised to above consensus at JPMorgan as losses are peaking after yesterday’s positive comments coming fro Goldman Sachs. At 8:52 AM EST we have seen shares up 0.75% at $17.42 versus a 52-week trading range of $9.26 to $17.52.

JON C. OGG

Top Day Trader Alerts (NIHD, PHM, RIGL, SQNM, ENMD, APWR)

247admin — Tue, 16 Feb 2010 13:51:04 +0000

These are some of the top day trader alert and active trader alert stocks seen early this Tuesday morning in the pre-market hours:

NII Holdings, Inc. (NASDAQ: NIHD) is trading up over 10% after it sold a 30% stake in Nextel Mexico to Grupo Televisa. At 8:30 AM EST we have seen 86,000 shares trade hands and the stock is up 11.6% at $40.25.

Pulte Homes (NYSE: PHM) is down almost 2.5% at $11.46 this morning after Goldman Sachs downgraded the stock to Sell from an already cautious Neutral as the firm switched some of its ratings around in homebuilders.

Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL) is up 6% at $10.00 after signing a pact with AstraZeneca (NYSE: AZN) which could ultimately bring in about $1.25 billion if all targets are met for its rheumatoid arthritis drug R788 or fostamatinib disodium.

Sequenom Inc. (NASDAQ: SQNM) is indicated up around $4.70 after a $4.52 close. The company has announced the launch of its SensiGene Fetal(XY) (Fetal Sex Determination) test.

EntreMed, Inc. (NASDAQ: ENMD) is tiny in price but up in percentage terms. The stock closed at $0.82 Friday and shares are up at $1.12 after it received an orphan drug designation for its ENMD-2076 in Leukemia.

A-Power Energy Generation Systems, Ltd. (NASDAQ: APWR) closed at $11.74 on Friday and shares are up around $12.70 this morning around 8:40 AM EST after it received NDRC Approval and makes a cash contribution to a Texas wind farm project.

You are invited to join our free daily email distribution list to hear about top analyst upgrades and downgrades, IPOs and secondary offerings, ongoing day trader and options trader alerts, stock and market rumors, Buffett and guru investor news, M&A and more.

JON C. OGG
FEBRUARY 16, 2010

Top Day Trader Alerts (AMGN, ACLI, CTIC, CERS, ERTS, LCAV, NBG, SQNM)

247admin — Tue, 09 Feb 2010 13:59:48 +0000

These are some of the top trading stocks seen on price and volume moves for day traders and active traders:

Amgen Inc. (NASDAQ: AMGN) is trading up this morning by 2.25% at $58.75 on almost 200,000 shares on its report that its Phase III head-to-head trial evaluating Denosumab met its primary and secondary endpoints versus Zometa in a 1900+ study in the treatment of advanced prostate cancer that has progressed to bone metastases.

American Commercial Lines Inc. (NASDAQ: ACLI) is soaring as the top gainer on NASDAQ but on this volume. The headline earnings were $1.09 EPS vs. $0.06 as revenue fell 16% to $226.9 million versus estimates of $222.5 million. The revenue drop was blamed on commodities shipped by transportation customers and lower tow revenues as tons/mile volume declined was down 1.4%. A large short interest exists here at 1.077 million shares or 11.5% of the float. Shares are up 26% at $20.48 but on 13,000 shares.

Cell Therapeutics, Inc. (NASDAQ: CTIC) is up after a huge sell-off yesterday after the FDA postponed its Oncologic Drugs Advisory Committee Meeting to review Pixantrone due to severe snow conditions around the nation’s capital. Shares closed at $0.64 and are indicated up around $0.78 on 1.9+ million shares. Shares were as high as $0.84 in earlier trading.

Cerus Corporation (NASDAQ: CERS) is trading up 16%, even above earlier indications, at $2.35 on 81,000 shares after the company reported positive results of its Phase 1 clinical trial of INTERCEPT red blood cells and on its report that it will collaborate with the French National Transfusion Service on INTERCEPT red blood cell development.

Electronic Arts Inc. (NASDAQ: ERTS) down 7.8% at $16.12 on 700,000 shares; very actively traded to downside last night; this after earnings were mostly in line with estimates but the company lowered guidance all the way out to Fiscal March-2011.

LCA-Vision Inc. (NASDAQ: LCAV) beat earnings this morning but just with a more narrow loss (-$0.19 EPS). We have not paid attention to the rest of the data from the call but shares are down 9.5% at $5.35 on only about 12,000 shares. This is rarely a stock that trades in the pre-market.

National Bank of Greece SA (NYSE: NBG) is seeing a major pop up this morning despite a Goldman Sachs downgrade that is way too late. This is on the major overhaul proposed. Shares are up 10% at $3.77 on about 40,000 shares.

Sequenom, Inc. (NASDAQ: SQNM) is trading up over 5% at $4.35 this morning on 60,000 shares after the company reported that it licensed the worldwide rights to develop age-related macular degeneration diagnostic test to Optherion and is expected to launch in 2011.

Price snapshots as of 8:40 to 8:50 AM EST

JON C. OGG
FEBRUARY 9, 2010

Sequenom Allegations Taking Toll (SQNM)

247admin — Thu, 17 Dec 2009 13:45:19 +0000

Sequenom Inc. (NASDAQ: SQNM) is getting hit this morning on allegations from an outside group called Xenomics, Inc. Xenomics said “an ongoing internal investigation by Xenomics’ personnel of the events surrounding its licensing deal with Sequenom in late October, 2008 leads it to conclude that Sequenom purposely misled the Company – fraudulently inducing Xenomics into granting Sequenom an exclusive license to its transrenal technology. Sequenom’s announced success in developing a Down Syndrome test in late 2008 was the principal factor in Xenomics’ decision to exclusively license its core Transrenal DNA and RNA technology in the area of fetal diagnostics to Sequenom.”

Needless to say, this is hitting Sequenom as it is re-confirming or at least re-stimulating those fears that officers of Sequenom were tampering with test results. At 8:43 AM EST Sequenom shares are down 8.8% at $3.81 on 226,000 shares.

JON OGG

Short Squeeze From Sequenom Analyst Upgrade (SQNM)

247admin — Wed, 09 Dec 2009 13:22:43 +0000

Sequenom Inc. (NASDAQ: SQNM) is trading higher on an analyst call this morning. The stock was raised to “Hold” at Auriga and the target was raised to $4.00 from (prior was a Sell rating and $3.00 target). The call noted: Based on the analysis of Sequenom’s molecular diagnostics segment (excluding the Trisomy 21-related tests that are still under regulatory cloud) centered around its recently launched Cystic fibrosis carrier screening test and upcoming launches of fetal RhD gentotyping and fetal sex determination tests, we are changing our rating on the shares of Sequenom….. At 8:20 AM EST we have shares trading up 6.2% at $4.63 on over 165,000 shares. As a reminder, this stock has a MASSIVE short interest: 19.4 million shares, about 32% of its float.

JON C. OGG

Sequenom Plays Give-Back (SQNM)

247admin — Wed, 25 Nov 2009 14:34:41 +0000

Sequenom, Inc. (NASDAQ: SQNM) is getting clipped this morning before the open. At 9:25 AM EST we have shares down 7.9% from the $4.42 close down at $4.07 this morning. All we have seen is a call on the wires from a Skymark Research and that is just an advertisement of a call that is not seen for free. Today’s 679,440 to the downside is after a large rise yesterday, so it possible that traders are just dumping into the long weekend.

-JON OGG

Traders Keep Nibbling on Sequenom (SQNM)

247admin — Fri, 09 Oct 2009 14:42:03 +0000

Sequenom Inc. (NASDAQ: SQNM) is surging higher again today. At 10:35 AM EST we have not seen an exponential volume alert as the volume is now just over 7 million shares versus 9.4 million on average. But the stock is up another 9.8% at $3.67. This one has risen since meeting with the SEC and other regulatory and enforcement agencies. Traders keep touting that there may be no intentional wrongdoing from management and the top brass that was recently canned, although it seems a bit premature to make any definite assumptions along that line. Trust is just hard enough to come by, let alone in companies which have had issues such as this. This is still very much an at-risk company, although making any predictions at this point would be based entirely upon incomplete data that still has many unknowns. Stay tuned. -JON OGG

Sequenom Mystery Gains Continue (SQNM)

247admin — Thu, 08 Oct 2009 13:03:11 +0000

Sequenom, Inc. (NASDAQ: SQNM) is continuing to hold up despite it being a ship with no real captains and no real crew. There were earlier-week reports that it had met with the government over the debacle for its tests on reports that it met with the U.S. Attorney, the SEC and FBI to discuss the flawed clinical data used to back up the validity of its Down syndrome prenatal test. This one rose over 10% yesterday to $3.28 on over 12 million shares and shares are up almost 6% at $3.47 on 135,000 shares as of 9:01 AM EST. We’ll be keeping a close eye on this company, particularly as the company is now effectively an at-risk or going concern in our opinion.
JON C. OGG