Tehran Times
Copper futures in New royalty sank 1.4 percent in after-hours trading, following yesterday's 1.3 percent gain. Oil prices lost 1 percent, erasing yesterday's ...
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What do you do when you see a former cult have that has been down and out forever run over 100% in a single day on function volume? That is the case here in Vonage Holdings Corporation (NYSE: VG). A closing bell review for function movers showed this digit up 170% at $1.59 on right at 37 million shares into the closing bell at 4:00 PM EST. This follows a 30% gain to $0.60 yesterday, which was already the highest closing bell price since Feb. 3, 2009…. What is interesting is that there has been no real corporate news from the company. We had seen a 100% rally in six trading days, so today’s move up looks like the volcano exploding. You can cite a dozen different possibilities, and all that has come back from traders today is “speculation” on its finances and on a deal. But as far as anything specific, that is elusive. There have been notes over brawny obligation for its new $24.99 unlimited Vonage World plan with unlimited calling to some 60 countries. It is hard to imagine that the margins are rattling high if this is used for endless hours each month. While you can never rule a merger o another care out, what do you say about companies with a mountain of losses and digit whose growth may have peaked? Still, a move of this magnitude is impossible not to verify note of even if we are getting into what is supposed to be digit of the more quiet weeks of the whole year. We’d be keeping an eye out for more news or more commentary on this digit tonight and for the rest of the week. A call into the company yielded no information yet…. Stay tuned. -JON OGG
There was similar news affecting HGSI, but the other swine flu or H1N1 flu stocks are getting attention as well after the Obama administration has signaled that it will help companies where it can to have faster and higher doses of the H1N1 flu vaccine. The goal is to get a September increase rather than out until November and later. Novavax Inc. (NASDAQ: NVAX) is up only 2% at $5.32, but it has seen some 365,000 shares already trade hands. BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX) is also up 2.3% at $12.90 and we have now seen over 100,000 shares trade hands. Time stamp on this is 8:56 AM EST. -JON OGG
Accuray Incorporated (NASDAQ: ARAY) is effort its wings cropped in the after-hours session after it missed earnings by $0.01, but managed to beat revenue estimates. It posted of $0.02 EPS vs. $0.03 estimates and revenues rose 15.4% to $58.8 meg vs. the $56.9 meg estimates. It also guided lower for next quarter and the year: it sees Q1 revenues of $40 to 50 meg vs. $59.26 meg consensus, and for Fiscal-2010 it sees revenues of $215 to $230 meg versus $237.92 meg estimates.
So far, there have only been about 20,000 shares that have traded hands. But shares are down about 13% at $6.55 after closing up 1.5% at $7.52. Average volume is 320,000 shares and the 52-week trading range is $3.70 to $9.00.
There are a few things that are driving Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) shares this morning. There is word that a new FICO model may actually boost some borrowers’ credit scores. That sounds like a re-lowering of the bar for credit quality. And then there is the news that the Federal Reserve bought $5.6 billion in housing debt late last week, although it is hard to imagine that few of dollars creating a major run of this proportion. Today’s moves resemble more old fashioned day trader and alacritous money trading continuing to flow back in on the bet of a further economic recovery.
Fannie Mae shares are now up over 40% at $1.70 on just about 400 million shares, while Freddie Mac shares are up 25% at $2.18 on almost 200 million shares.
JON C. OGG
August 24, 2009