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Dell's stock fell 6.6% to $14.82 in after-hours trading. On Nasdaq, it had closed at $15.87. Thursday's market sell-off was broad-based, with all but four ...
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The market is selling off sharply today, but no one let the solar stocks know, which are rising sharply higher following positive earnings results and forecasts from SunTech (STP) and Trina Solar (TSL). The rise comes despite oil dipping 2.25% below $80 as that trade has unraveled and solar stocks are actually starting to have a fundamental rationale to investing in them, and are closing in on economic viability. Also, the recent news of subsidies in India is still having a positive impact. Shares of Canadian Solar (CSIQ) and SolarFun (SOLF) are seeing increased bullish call activity today, and are breaking out on a technical basis. However, juggernaut First Solar (FSLR) is down on the day, along with LDK Solar (LDK), so it looks like traders are targeting specific companies in the sector, which is also an unraveling, as usually the entire group trades together, but now momentum and value players are putting money to work, as can be seen by the relative strong shar e volume today.
JOE KUNKLE, OptionsHawk.com
Solarfun Power Holdings Co. Ltd. (NASDAQ: SOLF) has already gone exponential on trading volume. At 11:48 AM EST we have already hit 200% above normal trading with over 4.5 million shares versus an average volume for a full day of 1.4 million shares. To top it off, this marks a 9.6% gain to $7.10 versus a 52-week trading range of $2.27 to $8.95. This is following the Oppenheimer upgrade.
JON C. OGG
Microvision, Inc. (NASDAQ: MVIS) is fighting CMED for the worst performer this morning. This is on a secondary offering. Hares closed at $4.11 and are down over 18% at $3.35 on only about 16,000 shares at 8:51 AM EST. This will be more active as the bell gets closer as there are some 865,000 shares per day and a 52-week range of $0.77 to $5.75.
JON OGG
Originally submitted at 2:00 PM EST…. Despite the markets trading a bit lower today there was a lot of call activity today based on takeover chatter in various sectors, as the bullish move in the markets coupled with a budding M&A market have speculators active. Early morning action was in Bunge (NYSE: BG), with Monsanto (NYSE: MON) rumored to be offering a $75 price tag, and 24,000 calls traded, a lot of new opening buyers with 50% of the action offer side, with the large players buying the out of the money January $70 calls in size.
Then a rumor that News Corp (NYSE: NWS) is looking to takeout Monster Worldwide (NYSE: MWW) at $23.50 per share hit, and today 43,800 calls have traded, 52% offer side buys with 100+ lots of November and December $15 calls being bought, 22X average call volume.
A rumor that Nucor Corporation (NYSE: NUE) has a $60 offer for Schnitzer Steel (NASDAQ: SCHN) never really gained any traction. Riverbed Technology (NASDAQ: RVBD) was also back in the M&A chatter as 9,700 calls traded, half the action offer side, with buyers in December $22.50 calls.
The most explosive action came late in the day as Colgate (NYSE: CL) shares spiked 4% higher and IV jumped 56% as a UK newspaper mentioned that a merger with Reckitt may be close. 37,500 calls traded with 57% offer side, also seeing some sizable chunks of November $85/$90 calls and December $85/$90 calls being bought in strength.
Later in the day came wod that Ameritrade (NASDAQ: AMTD) might be looking to buy E*TRADE Financial (NASDAQ: ETFC) also began to hit trading floors and call action jumped…. at least for a sub-$2.00 stock.
JOE KUNKLE, OptionsHawk.com
NOVEMBER 17, 2009
Poniard Pharmaceuticals, Inc. (NASDAQ: PARD) recovered off lows big-time yesterday after the company announced an updated positive clinical data from its Phase 2 trial of Picoplatin in colorectal cancer and new Phase 1 cardiac safety trial results. Shares are continuing the recover this morning with a 10.9% gain to $2.71 on over 425,000 shares as of 8:26 AM EST. This is on the heels of a huge drop from $7.58 on Friday to $1.83 on Monday after a failure of a picoplatin study in lung cancer trials.
JON C. OGG