BusinessWeek
Its shares rose $1.17, or 3.3 percent, to $36.68 in after-hours trading, after finishing up 33 cents in the regular session to close at $35.51.
and more »
Welcome to my new trading blog based of after hours stocks. Please subscribe for updates.
Micron Technology Inc. (NYSE: MU) is a chaser stock today with teh stock at fresh 52-week highs. There is options activity in the stock, some of which may be roll-out activity as this is the first day without the DEC-2009 options any longer, and some is chasing the gains elsewhere in tech and chips after an Intel upgrade. There are some probably using the “buyout rumor” out there, although we would caution on that in the case of Micron. If a giant wanted to buy it, it could have been done far cheaper when times were tougher. At 1:11 PM EST we have shares up 5.7% at $9.29 on 21.6 million shares. Average volume is 25.6 million shares and the 52-week trading range is 2.12 to $9.28 (now). Here is the options trading in the name (C-Call; P-Put):
JAN$   Volume   OpInt.
7.50CÂ Â Â 9,173Â Â Â 70,261
9.00CÂ Â Â 4,227Â Â Â 37,245
10.00CÂ Â Â 11,540Â Â Â 18,062
JAN$   Volume   OpInt.
9.00PÂ Â Â 12,739Â Â Â 3,156
APRIL$   Volume   OpInt.
8.00CÂ Â Â 8,327Â Â Â 14,237
9.00CÂ Â Â 409Â Â Â 4,375
10.00CÂ Â Â 8,321Â Â Â 4,305
JON C. OGG
DECEMBER 21, 2009
Palm Inc. (NASDAQ: PALM) is trading higher this morning but already off the pre-market highs. The troubled smartphone maker was upgraded to Hold from Sell at Morgan Joseph this morning after last week’s sell-off based on valuation. After hitting under $10 briefly on Friday, the firm believes that it is discounting guidance and targets. It also noted that the risk-reward no longer favors the short sellers. At 8:55 AM EST we have shares trading up over 1% at $10.28 on 151,000 shares. There is a monster short interest here in Palm.
JON OGG
Potash Corp. (NYSE: POT) is trading higher this morning after Goldman Sachs raised the potash maker to the Conviction Buy List to take advantage of a sharp sell off in fertilizer stocks last week. Mosaic Co. (NYSE: MOS) was also raised to Buy from Neutral. Goldman Sachs’ view of a fundamental demand recovery in potash in 2010 remains unchanged and it sees that weak 2010 potash pricing is discounted into the price of the stocks. The weakness in the past week and the comments that were bullish from the same sources responsible for negative sentiment were ignored.
Mosaic shares are up 3.5% at $57.18 on 33,000 shares as of 8:48 AM EST and Potash Corp. (NYSE: POT) shares are up 3% at $108.15 on 66,000 shares.
We would keep an eye on the MOO this morning. The Market Vectors Agribusiness ETF (NYSE: MOO) is u only 1%, but this is the agriculture ETF and these two stocks alone account for over 15.5% of the entire weighting of that ETF.
JON OGG