Interactive Investor
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Energy Conversion Devices, Inc. (NASDAQ: ENER) is surging again, on the same reason it surged before…. buyout rumors, with Applied Materials (NASDAQ: AMAT) listed as the rumored buyer. Many have pointed out that this would mark a directional-change for Applied as they are generally farther up the supply-side of the chain. Nonetheless, it is a rumor that has been there before… Caveat Emptor.
At 12:50 AM EST we have shares up 7.6% at $11.40 on 3 million shares of stock. Average volume is only 2.9 million shares and the 52-week range is $9.76 to $30.45. Bit the real trading is in the stock options. We compared options contract volume versus the open interest (listed as OI) with the strike on each month.
This is the DEC09 CALL activity alone, which expire next Friday:
JAN10 CALLS as follows:
MAR10 CALLS as follows:
JUN10 CALLS As follows:
JON C. OGG
Sunesis Pharmaceuticals Inc. (NASDAQ: SNSS) is seeing an explosion in trading volume today. What needs to be remembered here is that this is a micro-cap penny stock….. The $0.795 price at 11:30 AM EST is after a 32.5% gain in the share price, and its market cap is $27.3 million. Trading volume is over 4 million shares and average volume is about 600,000 shares. Today’s gain is after a large gain on Tuesday based upon positive Phase II study data in its leukemia trials. On Tuesday it traded north of 10 million shares. This stock has no options and its 52-week trading range is $0.05 to $0.90. At the end of September, it held $3.87 million in cash. Traders chase low priced biotech stocks in hope of finding the next ten-bagger.
JON C. OGG
Gartner Inc. (NYSE: IT) is not your usual pre-market mover. At 8:29 AM EST we have shares trading down 6.7% at $17.10 after a $18.34 close Wednesday. The company has a secondary offering coming of 8 million shares being sold by Silver Lake. None of the proceeds from the sale by Silver Lake will go to Gartner. We have yet to see a pricing in SEC filings but that will price either this morning or tonight. The 52-week range is $8.33 to $20.27 and the average daily volume is only 330,000 shares.
JON OGG