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You probably already saw how much SanDisk Corp. (NASDAQ: SNDK) blew through its earnings estimates. We have full details over at 24/7 Wall Street but essentially all we care about now is the reaction now that shares have been frre dup to trade at 4:25 PM EST. At 4:34 PM EST we have already seen some 2.35 million shares trade hands and the stock is up 10.85% at $23.81. Unless it adds in some cautious calls in teh conference call, this will be a top gainer to watch in Wednesday morning early trading. The prior 52-week high was $23.20.  JON OGG
We are seeing yesterday’s big losses in Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) continue. In case you missed yesterday, the downgrade to Underperform on both with effective ZERO price targets from Keefe Bruyette & Woods was the culprit for the trading blow-ups. FNM is down 2.6% more at $1.11 on 1.7 million shares as of 8:57 AM EST. FRE is down over 6% at $1.26 on 1.3 million shares. As a reminder, FNM traded over 100 million shares a day and FRE trades about 72 million shares a day. -JON OGG
BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) is one of this mornings top gainers after it reported positive safety data in its ongoing LibiGel Phase III clinical development program. The unblinded data have been reviewed by the independent DMC of the LibiGel Cardiovascular and Breast Cancer Safety Study and the DMC unanimously recommended continuation of the study as described in the study protocol without any modifications. At 8:46 AM EST we have seen 205,000 shares trade hands versus a 515,000 share average volume. The stock is up 12% at $2.21 and the 52-week trading range is $0.81 to $3.48. The market cap here on this one before the bounce was a mere $65.8 million, so keep the size of the company in mind as trading volume can still be very low oin some non-news days. -JON OGG
Ideation Acquisition Corp. (AMEX: IDI) is a very unusual trading alert and may be among the first of this type of call. We are seeing a 1.75% gain to $8.15, which is not much of a gain, but the trading volume is 311,000 shares as of 12:24 PM EST. The stock was also active last week with over 900K shares traded on Wednesday. The culprit for today’s move was an initiation of research coverage by Ladenburg Thalmann with a BUY rating. This is ahead of a pending merger vote with SearchMedia. Ideation is a SPAC, a special purpose acquisition company, and SearchMedia is an outdoor billboard and in-elevator advertiser in China. -JON OGG
We are seeing a surge in two of the coffee stocks today. Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) said that it was introducing its Donut House⢠Collection, a full line of regular, decaf and flavored coffees in K-Cup® portion packs for use with Keurig® Single-Cup Brewing Systems. All price moves are as of 11:13 AM EST:
The other coffee players have not moved as much or are not active enough to signal any sort of volume spike alerts…. SBUX, JVA, CBOU
JON C. OGG
Allion Healthcare, Inc. (NASDAQ: ALLI) closed at $5.44 Friday, but shares are up at $6.47 with a gain of 18.93% on some 592,638 shares as of 8:43 AM EST. Average volume here is only about 90,000 shares. A firm called H.I.G. Capital is acquiring its for $6.60 per share…. iPCS, Inc. (NASDAQ: IPCS) is being acquired by Sprint Nextel at $24.00 per share, a 34% premium to the $17.88 close Friday. Shares are up 33% at $23.90 on 476,000 shares of 8:43 AM EST. JON OGG