Massive Volume Spike in TiVo (TIVO)

TiVo Inc. is soaring.  Not just by some but by a major amount.  The company announced just a few minutes ago that the U.S. Court of Appeals release a decision/ruling in the company’s lawsuit against EchoStar.  The company noted:

• “We are pleased that the United States Court of Appeals for the Federal Circuit fully affirmed the district court’s finding of contempt against EchoStar, including both the disablement and infringement provisions. Additionally, this ruling paves the way for TiVo to receive the approximately $300M in damages and contempt sanctions awarded to us for EchoStar’s continued infringement through July 1, 2009. We will also seek further damages and contempt sanctions for the period of continued infringement thereafter. We will continue our efforts to protect our intellectual property from further infringement.”

TiVo has seen its stock spike by about 50% to $15.40 and at 11:51 AM EST we have seen a whopping 25 million shares trade hands.  Average volume is 1.75 million and the stock appears to have hit new 52-week highs.

JON C. OGG

Top Day Trader Alerts (ZUMZ, CNAM, PETM, MDVN, FSYS, STP, URBN, CIEN)

These are this morning’s top day trader and active trader alerts seen in early pre-market trading.  We have offered the moves, a news summary, and brief color on each for trading references where applicable.

Zumiez, Inc. (NASDAQ: ZUMZ) shares are surging as a winner in cold weather themes after it said February same-store sales rose by more than 11%.  Shares are indicated up almost 12% at $17.90 on only about 8,000 shares as of 8:30 AM EST.

China Armco Metals, Inc. (NASDAQ: CNAM) is surging to new highs this morning after it entered into a scrap steel supply contract with a major China Steel producer.  The deal is valued up to $100 million this year.  Its market cap was only about $53 million before the news-pop.   Shares closed at $5.30 yesterday and at 8:30 AM EST we have shares up 41% at $7.51 on 55,000 shares.  Average volume is only about 109,000 and the old 52-week range (3-month only) was $3.00 to $5.90.

Petsmart Inc. (NASDAQ: PETM) is hitting new 52-week highs after the pet retail destination beat earnings and gave a strong outlook.  The old 52-week trading range was $16.17 to $28.10 and the shares are up 10.6% at $30.65 on about 50,000 shares as of 8:31 AM EST.

Medivation, Inc. (NASDAQ: MDVN) has been trading all over the place this morning after yesterday’s biotech implosion on its failed Phase III Alzheimer’s study.  We had seen a gain of almost 2% earlier but shares are down about 0.2% more at $13.07 at 8:28 AM EST on about 138,000 shares.

Fuel Systems Solutions, Inc. (NASDAQ: FSYS), a maker of alternative fuel components and systems, said Q4 earnings were $1.12 EPS vs. $0.98 expected; Revenue was $164 million vs. Thomson Reuters estimate of $158 million.  2010 guidance looks in-line to better as well.  Shares are up 5% at $29.69 on 75,000 shares as of 8:29 AM EST.

Suntech Power Holdings Co., Ltd. (NYSE: STP) is up after it beat earnings estimates: Q4 earnings were $0.27 EPS vs. $0.11 expected; Revenue rose almost 40% to $584 million vs. $470 million or so expected.  Shares are up 6% at $14.50 on 250,00 shares as of 8:29 AM EST.

Urban Outfitters Inc. (NASDAQ: URBN) is up after earnings rose by about 90% and after it exceeded analyst estimates; lower taxes helped, but it also had record sales and rising margins. Shares are up almost 5% at $34.99 on almost 30,000 shares as of 8:27 AM EST.

Ciena Corporation (NASDAQ: CIEN) is getting spanked on light earnings today after Q1 earnings fell short at -$0.12 EPS against Thomson Reuters estimates of -$0.06 EPS.  The telecom equipment player said revenue was up 5% to about $176 million, short of the $185+ million expected.  Shares are down 8.25% at $13.35 on almost 600,000 shares as of 8:28 AM EST.  Shares had been down under $13.00 earlier this morning.

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JON C. OGG