American Apparel, Inc. (AMEX: APP) is losing its edge. After earnings, the company’s profit slid but was in-line. It has deferred on offering a 2010 outlook. Most importantly, it announced layoffs. That doesn’t sound like a growth story anymore, does it… Shares are down 9.3% t $3.48 on 17,000 shares at 8:48 AM EST.
Cost Plus, Inc. (NASDAQ: CPWM) is one of the larger gainers this morning. The company unexpectedly posted a Q4 earnings profit and expects to be profitable in Q1 after a long long losing streak. Shares are up 26% at $2.68 on 23,000 shares as of 8:48 AM EST. The 52-week high is $3.40 and the average volume is just over 200,000 shares.
National Bank of Greece SA (NYSE: NBG) is trading up this morning as this is now the traders’ proxy for betting on Greece and after the aid package by the E.U….. Shares were up over 5% earlier but at 8:49 AM EST shares are up 4.65% at $4.28 on about 65,000 shares.
Orckit Communications, Limited (NASDAQ: ORCT) is one of the larger losers today. We’ll have to check overseas for news. At 8:49 AM EST we have shares down 14% at $4.05 on over 100,000 shares. This trades only about 66,000 shares per day.
Palm, Inc. (NASDAQ: PALM) might not be able to help itself, but it got outside help. JPMorgan raised its rating to Market Perform from Outperform after the selling onslaught. Shares are up 3% at $3.82 on about 110,000 shares.
Plato Learning, Inc. (NASDAQ: TUTR) closed at $4.91 and its 52-week range was $1.50 to $5.00. The company went into a $143 million merger agreement with Thoma Bravo, which is $5.60 per share in cash. The PLATO Learning board of directors unanimously approved the agreement and will recommend that shareholders approve the transaction. This is a thin volume stock but shares are indicated up around $5.55 to $5.65.
Research-in-Motion Ltd. (NASDAQ: RIMM) is up after its rating was raised to Overweight at JPMorgan; GMP also lifted its target today. At 8:51 AM EST shares are up 2% at $74.90 on over 150,000 shares.
Somaxon Pharmaceuticals, Inc. (NASDAQ: SOMX) priced an underwritten public offering of 6,000,000 shares of its common stock at a price to the public of $8.25 per share. This was originally supposed to be 4 million shares but he demand raised the size. Shares closed at $9.51 Thursday and at 8:51 AM EST shares are down 3% at $9.22 on 1.15 million shares.
Smart Modular Technologies (NASDAQ: SMOD) is trading after its Q2 earnings beat expectations and on a strong Q3 outlook. Shares are up over 16% at $8.37 on 78,000 shares as of 8:51 AM EST.
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JON C. OGG
