Wall Street Journal
Shares of the iconic camera maker and imaging company, which reiterated its 2009 guidance, fell 3.6% to $6.44 in after-hours trading as KKR will buy $400 ...
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Origin Agritech Limited (NASDAQ: SEED) announced that its Origin Biotechnology unit reached a worldwide agreement with the Institute of Microbiology of the Chinese Academy of Sciences and Sichuan Biotech Engineering, Limited. Those two will jointly own the rights to an internally developed gene which is highly tolerant to glyphosate herbicide. This glyphosate-tolerance gene is entirely new to the consumer markets in that it has never been commercialized, and is protected by patents granted separately by China and USA separately. SEED is surging on the news. At the open we have a gain of almost 10% at $5.25 on 87,000 shares versus average volume of 120,000. The 52-week high is $6.31. -Jon C. Ogg
US Bancorp (NYSE: USB) is up but is surprisingly not getting as much attention as we would have expected. At 8:51 AM EST we have only seen 18,000 shares trade hands versus an average volume of 17 million shares. The gain is only 1.5% at $23.15. The news that is out is that Rochdale’s Dick Bove upgraded his old Neutral rating to a new BUY rating. The old $25 target was hiked to $28 as well. Shares are still up over 100% from its March lows, but we would be looking for stock upside and a volume spike here as the open gets closer. JON OGG
Oracle Corp. (NASDAQ: ORCL) has already seen 150% of a full average daily trading volume ahead of today’s earnings and it is not even 1:00 PM EST. As of 12:35 AM EST we have seen almost 43 million shares trade hands and the average volume is about 29.7 million shares. Shares are also down 2.4% at $22.13. We are also seeing high put and call trading in options contracts…. Here are today’s CALL and PUT trading for SEPT-2009 options which expire in just over 48 hours from today’s close:
CALL$   Vol.  Op. Int.
21.00Â Â Â 4,023Â Â Â 14,365
22.00Â Â Â 6,842Â Â Â 39,815
23.00Â Â Â 7,080Â Â Â 25,522
PUT$$    Vol.   Op.Int.
20.00Â Â Â 1,146Â Â Â 17,162
21.00Â Â Â 1,904Â Â Â 20,924
22.00Â Â Â 3,751Â Â Â 12,500
23.00Â Â Â 9,120Â Â Â 29,918
A full earnings preview with chart and options trading expectations is available at 24/7 Wall Street.
Jon C. Ogg
September 16, 2009
Flextronics International Ltd. (NASDAQ: FLEX) is surging this morning after a Jim Cramer tout last night on CNBC’s MAD MONEY after he said that the EMS operation is trading at just 12 times 2011 earnings and said he’s a buyer of FLEX. At 9:02 AM EST we have shares trading up 9% at $7.54 on almost 300,000 shares. Average volume is close to 9 million shares and the 52-week high here is $8.23. While this is not a 52-week high it is a high that has not been seen since OCT-2008. If this one ramps too much, we’d look for gains elsewhere in EMS rivals like Celestica Inc. (NYSE: CLS), Sanmina-SCI Corp. (NASDAQ: SANM) and Jabil Circuit Inc. (NYSE: JBL). -JON OGG
Omniture, Inc. (NASDAQ: OMTR) is the pre-market leader after getting acquired by Adobe Systems, Inc. (NASDAQ: ADBE). This one closed at $17.33 yesterday and is up almost 25% at $21.60 on pre-market volume of over 4 million shares as of 8:56 AM EST. As this is a buyout, that is of little surprise. But acquirer Adobe also reported that its profit fell by 29% and revenue fell by about 21% last quarter based on weak demand for its traditional software. We have Adobe down almost 5% at $33.90 on almost 200,000 shares versus an average day’s trading volume of $6.7 million shares. The 52-week high for Adobe is $45.26. -JON OGG
CEL-SCI Corp. (AMEX: CVM) has gone absolutely bonkers today on exponential trading volume because of its fairly small market cap, a huge share float, a low share price… and swine flu or H1N1 news….. We have the details on the full news over at BioHealthInvestor.com, but it gets really hard to not throw up a red flag here with a caveat emptor or surgeon general warning for traders. As of 1:32 PM EST we have now seen 48 million shares trade hands and this one is up 77% at $1.63. It also hit a new 52-week high today of $1.82, yet its 52-week low is all the way down at $0.14. This company has been around forever back before 1995, and it has never regained its share prices from way back in the day…. Whether this one can rise further or not, you might as well put it on your new active trader alert for small cap and low-priced stocks. Once you see volume of that magnitude, it is usually quite some time before you see ‘average volume’ again….   -JON OGG
Martha Stewart Living Omnimedia Inc. (NYSE: MSO) is soaring on news of the new exclusive pact with the The Home Depot Inc. (NYSE: HD). Full details are here from last night’s release, but what is so helpful is that this ‘exclusive’ pact is another pact that does not appear to be a replacement pact and the company noted that it still has Macy’s and other top retail outlets to create, sell, and distribute the Martha wares….. MSO shares are up 8% at $7.40, which is a tad lower than teh $7.50 high in pre-market trading that we saw. Also worth noting is that the trading volume is now over 320,000 shares and the average volume is only 280,000 shares or so. So in less than 30 minutes, this one is effectively heading into ‘exponential volume territory.’ -JON OGG 99:57 AM EST)
Citigroup Inc. (NYSE: C) may be in for a huge day. Last night brought reports that Uncle Same, the U.S. government, might be selling part of its massive stake. Reports from multiple sources gave October as the month that the sale could begin. Be advised that this is not a total exit of the government, but it is a start and would lead to the independent recovery of Citi. This could also take months and months to be completed as this is roughly a 34% stake. Expect this to be today’s most active stock. At 8:54 AM EST we have seen 23 million shares trade hands and the stock is down 1% at $4.48.-JON OGG