Tuesday, March 16, 2010

Rumors Drive Volume (GGP, SPG, HOG)

Stock Assault 2.0 - Artificial Intelligence Stock Market Software

The rumor mill is back.  It is also tiring.  Today we had two gainers seen in General Growth Properties Inc. (NYSE: GGP) and in Harley-Davidson, Inc. (NYSE: HOG).  Details on each are as follows, along with unofficial closing bell levels.

General Growth Properties Inc. (NYSE: GGP) just spiked at the end of the trading day on rumors that a higher bid was coming from Simon Property Group (NYSE: SPG).  Shares turned in an unofficial closing bell of +2.64% at $15.14 on 3.8 million shares.  Average volume is 3.9 million shares but this one ripped up from $14.50 to over $15.00.  The official close will likely be slightly different.

Harley-Davidson, Inc. (NYSE: HOG) was crazy today on KKR-led buyout rumors.  The ‘buyout rumor mill’ is back strong now that the market has become more enthusiastic.  This one is hard to imagine on the surface with a $6.6+ billion market cap before any buyout premium.  Its 52-week range is $10.86 to $30.00 and today’s high was $28.98.  We have an unofficial closing bell level of being up almost 7% at $28.34 on more than 18 million shares versus an average closer to 3.3 million shares per day.


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