San Francisco Chronicle
Investors applauded the news, sending shares up more than 6 percent in after-hours trading. The stock had closed down for the day at $17.17. ...
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You probably already saw how much SanDisk Corp. (NASDAQ: SNDK) blew through its earnings estimates. We have full details over at 24/7 Wall Street but essentially all we care about now is the reaction now that shares have been frre dup to trade at 4:25 PM EST. At 4:34 PM EST we have already seen some 2.35 million shares trade hands and the stock is up 10.85% at $23.81. Unless it adds in some cautious calls in teh conference call, this will be a top gainer to watch in Wednesday morning early trading. The prior 52-week high was $23.20.  JON OGG
We are seeing yesterday’s big losses in Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) continue. In case you missed yesterday, the downgrade to Underperform on both with effective ZERO price targets from Keefe Bruyette & Woods was the culprit for the trading blow-ups. FNM is down 2.6% more at $1.11 on 1.7 million shares as of 8:57 AM EST. FRE is down over 6% at $1.26 on 1.3 million shares. As a reminder, FNM traded over 100 million shares a day and FRE trades about 72 million shares a day. -JON OGG
BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) is one of this mornings top gainers after it reported positive safety data in its ongoing LibiGel Phase III clinical development program. The unblinded data have been reviewed by the independent DMC of the LibiGel Cardiovascular and Breast Cancer Safety Study and the DMC unanimously recommended continuation of the study as described in the study protocol without any modifications. At 8:46 AM EST we have seen 205,000 shares trade hands versus a 515,000 share average volume. The stock is up 12% at $2.21 and the 52-week trading range is $0.81 to $3.48. The market cap here on this one before the bounce was a mere $65.8 million, so keep the size of the company in mind as trading volume can still be very low oin some non-news days. -JON OGG