We have many stocks on the move this morning. Some are secondary offerings and many are on news and analyst calls. Below is a snapshot on each with the news, the move, relative price and average daily volume and other pertinent color where applicable.
American Superconductor Corporation (NASDAQ: AMSC) is launching after the company was raised to Buy at Jefferies. At 8:40 there have only been about 26,000 shares traded, but the stock is up 6.6% at $27.88. The 52-week range is $15.80 to $43.95 and the average volume is almost 1.2 million shares.
Baidu, Inc. (NASDAQ: BIDU) is rising yet again, this time on a very late upgrade from Kaufman Bros to Buy from Hold. Shares closed at $579.72 and are up 2.5% at $594.53 on about 100,000 shares as of 8:40 AM EST. We have the 52-week now at $628.50.
Cell Therapeutics, Inc. (NASDAQ: CTIC) is seeinga surprise bounce this morning after yesterday’s news that an FDA Panel at the planned meeting rejected its Pixantrone to fight non-Hodgkin’s Lymphoma. There seemed to be a major sentiment change yesterday, but this morning at 8:41 AM EST we have seen already over 4 million shares trade hands and the stock is up 34% at $0.63. Keep in mind that this was at $0.91 on Friday, and that was after a late day sell-off. Shares closed at $0.471 yesterday.
Integrated Silicon Solution, Inc. (NASDAQ: ISSI) closed at $7.49 and at 8:40 AM EST we have shares up about 15% at $8.65 on almost 25,000 shares. This is after the company raised guidance and noted that it has experienced better than expected end market demand and pricing, primarily for its DRAM products.
Jones Soda Co. (NASDAQ: JSDA) is indicated higher this morning after it ended the exclusivity provision of its potential merger deal with Reed’s (REED) . The company will now explore an unsolicited bid by a third party to avoid the silly take-under. No volume has been seen but the stock is indicated at $0.60 after a $0.52 close Monday.
Massey Energy Company (NYSE: MEE) filed last night to sell 8.5 million shares of common stock in a public secondary offering to fund a portion of the cash consideration related to its recently announced $960 million combined cash and stock acquisition of Cumberland Resources Corporation and affiliated companies. At 8:42 AM EST we have seen only about 12,000 shares trade but the stock is down 3% at $49.29. The 52-week range is $9.80 to $54.09 and the average volume is 4.6 million shares.
Oncothyreon Inc. (NASDAQ: ONTY) is getting whacked. The company announced the temporary suspension of Stimuvax clinical trials by Merck Serono for Stimuvax as a result of a suspected unexpected serious adverse reaction in a patient with multiple myeloma participating in an exploratory clinical trial. Shares had been halted and they had been down over 40% after the resumption of trading. At 8:42 AM EST shares are down 37% at $3.00 on 62,000 shares. The average volume here is only about 160,00 shares and the 52-week range is $1.18 to $7.77.
Sequenom Inc. (NASDAQ: SQNM) is soaring after the stock was raised to Buy from Hold at Lazard. At 8:43 AM EST we have seen some 500,000 shares trade hands and the stock is up 11% at $6.15.
Somaxon Pharmaceuticals, Inc. (NASDAQ: SOMX) has been very active and is taking advantage of strength to raise capital, which is no surprise at all.  After the close it announced that it would sell up to 4,000,000 shares of its common stock a public secondary offering. Traders seem to be endorsing this sale because the stock is up 3% at $8.55 on over 200,000 shares as of 8:44 AM EST.
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JON C. OGG
