These are this Mondayâs top day trader and active trader alerts seen in pre-market trading.Â We have included the news and some brief color where applicable on each.
American International Group, Inc. (NYSE: AIG) is trading up 2% after its $15.5 billion Alico sale to MetLife (MET).Â The deal is similar to last weekâs Asian sale in that it is divided between cash and stock.Â At 8:23 AM EST we have seen 375,000 shares trade hands and the stock is up 2.4% at $28.75.
Cell Therapeutics, Inc. (NASDAQ: CTIC) rose on Friday and shares are up again on Monday after the FDA approved NerPharMa to manufacture Cell Therapeuticsâ drug Pixantrone.Â At 8:31 AM EST shares are up 15% more at $1.03 on almost 3 million shares.
Medivation, Inc. (NASDAQ: MDVN) is trading lowerâ¦. The beating will continue until morale improves.Â There is trader speculation that the company should have known its recent drug failure was coming. Shares closed at $12.13 Friday and we have shared down another 3% at $11.75 on about 16,074 shares.
Origin Agritech Limited (NASDAQ: SEED) is up after it announced it has developed a strategic pesticide business unit for premium branded chemical products and it expects a premium branded glyphosate product to be marketed immediately into the domestic agricultural market for the 2010 selling season.Â At 8:24 AM EST we have shares up 12.1% at $11.58 on 125,000 shares in the pre-market.
Silicon Storage Technology, Inc. (NASDAQ: SSTI) is trading lower after Microchip Technology Incorporated (NASDAQ: MCHP) entered into a second amendment to its February 2, 2010 definitive agreement to acquire SST and shareholders would be entitled to receive $3.05 per share in cash compared to $3.00 per share prior to the second amendment. This second amendment was in response to an offer made by another party to SSTâs Strategic Committee on March 2, 2010.Â SST shares are down almost 6% at $3.06 on 21,000 shares after closing at $3.25 on Friday.Â There had been hopes of a higher buyout here.
Xyratex Ltd. (NASDAQ: XRTX) is trading higher on raised guidance: $313 to $318 million in revenue versus prior guidance of $245 to $285 million; GAAP earnings of $0.77 to $0.87 EPS versus prior $0.24 to $0.52 EPS guidance.Â At 8:23 AM EST we have seen a 17.4% gain to $18.00 pre-market on about 24,000 shares of stock.
Zanett Inc. (NASDAQ: ZANE) was indicated lower this morning after Thursday and Fridayâs exponential gains before the stock came way back downÂ This stock was up almost tenfold at one point but at 8:30 AM EST we have seen 20,000 shares trade hands and the stock is down 1.5% at $1.90.Â This is not huge volume compared to teh 8M shares each day last Thursday and Friday but the action will be elevated all week here.
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JON C. OGG