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Rubicon Technology, Inc. (NASDAQ: RBCN) just took off like a rocket for a quick burst after it was touted on CNBC as one of the beneficiaries of pricing strength due to materials supply constraints. The interview featuring this one just ended at 1:28 PM EST…. At 1:29 we have shares up 6.8% at $19.29 after seeing a intraday high of $19.74… that would also mark a 52-week high. There have been 262,000 shares traded versus an average of 195,000.
JON OGG
RF Micro Devices Inc. (NASDAQ: RFMD) is running up after that stock’s analyst rating was raised to Buy at UBS. As this is a low priced tech stock, you can imagine that the volume will be picking up this morning. At 8:32 AM EST we have seen 108,000 shares trade hands and the stock is up 3.6% at $4.68. This stock was up over 10% yesterday because of the strong tech sector (on Altera news) and it traded over 13 million shares yesterday too. The 52-week trading range is $0.70 to $5.85 and the average daily volume is 8.7 million shares.
JON C. OGG
Applied Materials Inc. (NASDAQ: AMAT) had a sudden surge in December $13 calls that traded 25,299 contracts against an open interest of 15,631 contracts, with large blocks being bought at the offer and shares trading to session highs. Applied Materials has the best of both worlds with chip stocks and solar stocks strong today. Shares trade 13X forward earnings. AMAT is presenting at the Credit Suisse Conference tomorrow at 11:30am and the Barclay’s Conference on December 9th. Call volume exceeds 30,000 on the day, more than 3X average volume…. This is interesting considering that earnings were barely three weeks ago. Shares are up 4.5% at $12.87 along with the strong chip stocks sector.
Joe Kunkle, OptionsHawk.com
American International Group, Inc. (NYSE: AIG) is recovering handily after yesterday’s analyst $12 call. The company is moving forward with its ALICO separation. It has also entered into a debt-for-equity swap with the New York Fed which may have just taken off $25 billion in debt and takes the NY Fed’s debt down to $17 billion. At 8:29 AM EST we have seen only about 350,000 shares trade hands and the stock is up 6.4% at $30.20. That also gets it well above the 200-day moving average (listed as $28.98) which was violated yesterday. It looks like Benmosche is getting things done.
JON OGG
Novavax, Inc. (NASDAQ: NVAX) may show how little key impact news there is, but it is the top mover today in percentage terms seen. At 8:28 AM EST we have seen 75,000 shares trade (versus 6 million average) and the stock is up 6.6% at $3.20. This is on news that it has completed enrollment in Phase IIa studies of seasonal influenza vaccine in older adults. The 52-week range is $0.52 to $7.79.
JON OGG