Exponential Volume Club (AKNS, BBI, FNM, FUQI, LSI, VIVO, PLCM, SNV, VHC, VLTR)

We have taken a look at the movers up and down today and pulled out the key names we have seen on news with exponential trading volume.  We have also included the news and relative color on the trading day and offered a link to each where applicable.  Share prices as of a 12:25 PM EST snapshot…

Akeena Solar, Inc. (NASDAQ: AKNS) is up on the announcement that it will provide solar installation services for Lowe’s.  674K shares, up 8.6% at $1.13 on over 2X trading volume and versus 52-week range of $0.67 to $1.98.

Blockbuster Inc. (NYSE: BBI) look like BlockKnocker actually.  Shares are down 32% at $0.27 on 22.4 million shares… about 4X volume already on the heels of a bankruptcy warning.

Fannie Mae (NYSE: FNM) is up over 7% at $1.13 on 40 million shares, about 166% normal volume already.  Fannie cut its mortgage forecast but sold $5 billion in new bills.

Fuqi International, Inc. (NASDAQ: FUQI) is down now over 36% at $12.05 on 12 million (plus) shares… that is now already over 12X volume.  52-Week range is $3.65 to $32.68.  These guys won the “Mr. Dumas Accounting Award” today.

LSI Corporation (NYSE: LSI) is back if you have forgotten about the old semiconductor and chip company.  LSI raised its guidance on strong product sales and even announced a $250 million share buyback plan.  LSI is up 8% at $6.29 on 26 million shares versus ‘only’ about 9 million shares otherwise.

Meridian Bioscience, Inc. (NASDAQ: VIVO) lowered its ficsal 2010 guidance: Net sales are now expected to be between $145 million and $153 million, compared to the previous guidance range of $160 million to $165 million. Diluted earnings per share is expected to be between $0.70 and $0.80, compared to the previous guidance range of $0.90 to $0.95.  Shares are down 15% at $20.17 on over 1.3 million shares.  That is 5X volume and the 52-week range is $14.79 to $26.20.

Polycom, Inc. (NASDAQ: PLCM) is still running on rumors of an Apax Partners acquisition.  Shares are up 9.85% at $33.45 on 11.8 million shares, about 10X volume.  The $33.44 high today market a two-year high.

Synovus Financial Corp. (NYSE: SNV) is up after Jim Cramer touted this one as a potential homerun last night on CNBC Mad Money.  Shares are up 4.2% at $3.74 on 28.2 million shares, or about 2X volume already.  The 52-week range is $1.45 to $5.24.

VirnetX Holding Corp. (NYSE AMEX: VHC) won a $105.75 million patent ruling against Microsoft… This could be triple the amount under certain circumstance.  Shares are up 13.4% at $6.34 on 2.6 million shares.  The 52-week range is $1.05 to $7.99 but that $7.99 may be a false print because that is listed as today and the intraday chart does not show that.  Today’s move is over 5X volume.

Volterra Semiconductor Corporation (NASDAQ: VLTR) is proof that stocks which hit new highs rarely do it once only.  Shares are up 5.7% at $24.90 on 700K shares, more than double its average volume.  The 52-week range is $8.03 to $25.05 and that $25.03 is today’s high.

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JON C. OGG

Top Day Trader Alerts (ERIC, CIT, FUQI, GGP, PLCM, HOG, GE, ABK)

LM Ericsson Telephone Co. (ERIC) is down almost 3% at $10.97 on over 100,000 shares as of 8:35 AM EST.  The stock was downgraded at BofA/ML and at Goldman Sachs.  The 52-week range is $7.62 to $11.33 and the average volume is over 6 million shares.

CIT Group, Inc. (NYSE: CIT) is trading up despite a $1 billion loss.  Volume is thin as of 8:35 AM EST but the shares are actually up 3% at $37.38 versus a post-bankruptcy emergence trading range of $24.83 to $37.88.

Fuqi International Inc. (NASDAQ: FUQI) issued an earnings warning and miss, issued an accounting restatement for Q1 2009 to Q3 2009, and said margins were lower.  The company even partly blamed delays into Chinese New Year.  At 8:35 AM EST we have seen a 29% drop to $13.47 for the Chinese jeweler and we are close to 400,000 shares.

General Growth Properties Inc. (NYSE: GGP) is trading higher on late day reports that it may be getting a higher Simon Property buyout offer. There has yet to be a higher bid and what that bid would be is up for discussion. At 8:35 AM EST we have only about 20,000 shares traded but shares are up 2% at $15.40.

Polycom, Inc. (NASDAQ: PLCM) is running up to more than two-year highs in pre-market trading on reports that the company may go private in a deal with Apax Partners.  More buyout rumors, again.  Shares at 8:35 AM EST have already gone over 1 million shares versus a full day’s volume of about 1.4 million shares.  The stock is up 9% at $33.20 and the old 52-week high is $30.50.

Harley-Davidson, Inc. (NYSE: HOG) was up all day yesterday on KKR buyout rumors. The stock is thin in pre-market volume today but the shares are up 0.7% at $28.55.  Shares hit an intra-day high of $28.35 yesterday.

General Electric Co. (NYSE: GE) is trading up again this morning.  At 8:38 AM EST we have seen close to 500K shares trade and the stock is up about 0.9% at $18.24.  Yesterday’s high was $18.14, which is also a 52-week high.

AMBAC Financial Group, Inc. (NYSE: ABK) is actually trading up after the troubled financial guaranty company delayed its earnings report.  The company is said to be in talks with counterparties and it has recently noted its NYSE listing requirements with its share price so low.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG