Trading Markets (press release)
(RTTNews) - Brigham Exploration (BEXP | Quote | Chart | News | PowerRating) announced after the close Monday that the Figaro 29-32 #1H produced ...
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Sepracor Inc. (NASDAQ: SEPR) is flying on 5X volume. As of 1:40 PM EST we have shares up almost 25% at $22.80 and this is on over 11 million shares. The reason here is takeover rumors, and all we can say is that this was one of our low-P/E drug and biotech stocks we have covered as a potential takeover candidate before. The volume is happening in options too…. 12,200 of the $20 CALLS for SEPT-2009 have traded versus a prior open interest of 1,005 contracts. We have also seen over 2,000 of the $22.50 CALLS for OCT-2009 versus an open interest of 243 contracts.
-JON OGG
Novavax Inc. (NASDAQ: NVAX) is getting spanked this morning. The swine flu stock and flu stock is trading lower after Oppenheimer & Co. downgraded the biotechnology company after shares went above and beyond the firm;s $6.00 price target. The rating is now “Perform” rather than “Outperform” as before.  At the 9:30 Opening Bell NVAX is down over 7% at $6.13 and we are now seeing 1 million shares already traded including the first minute and including pre-market trading. Average volume is now over 7 million shares, but this is the first such downgrade we have seen in this and other swine flu stocks.
OTHER SWINE FLU or FLU STOCK TICKERS ARE AS FOLLOWS: BCRX, CRIS, NKTR, OGXI, SCLN, SVA, SPPI, TRGT, VICL.
JON OGG
VeriFone Holdings Inc. (NYSE: PAY) is surging after earnings and after settling with the SEC. For starters, it consented to a permanent injunction against violations of the reporting, internal controls, and other provisions of the federal securities laws. The company also posted Q3 net income of $22 million or $0.26 EPS rather than a loss a ayear ago. Revenue was $211.2 million, down from $258.7 million a year ago. We had estimates listed as $0.18 EPS on revenue of $202 million. It also forecast this coming quarter-end revenues of $208 million to $215 million versus $202 million estimates. We now have shares at 8:47 AM EST trading up over 8% at $12.04 on about 76,000 shares. Average volume is close to 900,000 shares. Every single buyer of stock that has bought shares since the end of 2008 is now profitable, and the 52-week high on VeriFone $21.17. The highest volume seen in the last 90-days was over 3 million shares for each of the first 3 days in June and that is the sort of volume we’d expect today. -JON OGG