Royal Gazette
Royal Gazette
The markets welcomed the news as XL shares rose 4.7 percent in after-hours trading, after having dipped 2.4 percent to $16.23 in regular trading. ...
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Transcept Pharmaceuticals, Inc. (NASDAQ: TSPT) is getting destroyed and is today’s largest percentage loser by far. The FDA did not approve the comjpany’s experimental sleep disorder drug called Intermezzo. The reason was over safety issues, but the FDA has requested additional data that might require more studies. At 9:00 AM EST we have shares trading down all the way at $6.16, down 46% from the $11.47 closing price. We also have seen some 181,843 shares trade hands, double the 88,000 average. The market cap was $150 million before the cut, so you can cut that almost in half today. The company had $73.6 million in cash and short-term investments on hand at the end of the June 30 quarter. -JON OGG
American Superconductor Corporation (NASDAQ: AMSC) is not that active yet in the early hours. Yet. The company posted increased revenues of 85% to $74.7 million and non-GAAP EPS to $0.19; it generated $35.8 million in cash from operations and it increased its order backlog to $587 million. The company also raised guidance. Shares closed at $28.84 yesterday, but shares are up 15% as a top pre-market winner at $33.19 on about 22,000 shares as of 8:57 AM EST. Average volume is about 1.03 million shares, but you can expect that to be hit early with this sort of jump. The 52-week trading range is $8.22 to $39.90, so it is obviously a volatile trading stock. JON OGG
PrivateBancorp Inc. (NASDAQ: PVTB) is another actively traded stock on the downside on what may be a day-two dumper. This fell from $11.98 on Monday to $9.65 yesterday on 10+ million shares. On Friday this was a $19.00 stock. This is over concerns on the pricing of its $175M capital raising plan, which actually looks to be the fourth such raise in the last 24 months. Rising credit woes have grown here as well. At 8:57 AM EST we have seen some 1.4 million shares trade hands and the stock is down almost 5% at $9.18. Anything under $9.09 would be a new 52-week low. Average volume is only 700,000 shares, and that number was closer to 550,000 before the recent surge in downward-trading selling volume. JON OGG
DryShips, Inc. (NASDAQ: DRYS) is trading up on its earnings this morning. We originally saw shares trading lower this morning. Last night’s earnings could have possibly been taken either way, so we’ll see if this one whips around this morning.  As of 9:17 AM EST we have seen some 364,001 shares go off in teh pre-market hours and the stock is up 1.6% at $7.00 after a $6.89 close. Average volume is 24,134,800 shares per day and the 52 week trading range is $2.72 to $80.35. -JON OGG
Wynn Resorts Ltd. (NASDAQ: WYNN) is already up about 300% from its lows, but this is a battleground stock that could go either way now that earnings are out.  It posted $0.28 EPS and $0.33 non-GAAP EPS on $773.1 million in revenues. Thomson Reuters was at $0.15 EPS and $743.05 million in revenues. The company ended the quarter with $1.3 billion in cash and equivalents and has total debt outstanding of $4.2 billion.  Shares initially were up 2% but at 8:43 AM EST we have shares lower by 2.8% at $61.28 on about 84,000 shares. Average volume is almost 5 million shares and this one may trade all over the place today. JON OGG