TopNews United States
TopNews United States
Shares of Gilead rose by 4 cents to $46.33 in after-hours trading after rising by 29 cents to close at $46.29 during the regular trading session.
and more »
Welcome to my new trading blog based of after hours stocks. Please subscribe for updates.
Energy Conversion Devices, Inc. (NASDAQ: ENER) is surging again, on the same reason it surged before…. buyout rumors, with Applied Materials (NASDAQ: AMAT) listed as the rumored buyer. Many have pointed out that this would mark a directional-change for Applied as they are generally farther up the supply-side of the chain. Nonetheless, it is a rumor that has been there before… Caveat Emptor.
At 12:50 AM EST we have shares up 7.6% at $11.40 on 3 million shares of stock. Average volume is only 2.9 million shares and the 52-week range is $9.76 to $30.45. Bit the real trading is in the stock options. We compared options contract volume versus the open interest (listed as OI) with the strike on each month.
This is the DEC09 CALL activity alone, which expire next Friday:
JAN10 CALLS as follows:
MAR10 CALLS as follows:
JUN10 CALLS As follows:
JON C. OGG
Sunesis Pharmaceuticals Inc. (NASDAQ: SNSS) is seeing an explosion in trading volume today. What needs to be remembered here is that this is a micro-cap penny stock….. The $0.795 price at 11:30 AM EST is after a 32.5% gain in the share price, and its market cap is $27.3 million. Trading volume is over 4 million shares and average volume is about 600,000 shares. Today’s gain is after a large gain on Tuesday based upon positive Phase II study data in its leukemia trials. On Tuesday it traded north of 10 million shares. This stock has no options and its 52-week trading range is $0.05 to $0.90. At the end of September, it held $3.87 million in cash. Traders chase low priced biotech stocks in hope of finding the next ten-bagger.
JON C. OGG
Gartner Inc. (NYSE: IT) is not your usual pre-market mover. At 8:29 AM EST we have shares trading down 6.7% at $17.10 after a $18.34 close Wednesday. The company has a secondary offering coming of 8 million shares being sold by Silver Lake. None of the proceeds from the sale by Silver Lake will go to Gartner. We have yet to see a pricing in SEC filings but that will price either this morning or tonight. The 52-week range is $8.33 to $20.27 and the average daily volume is only 330,000 shares.
JON OGG
Affymetrix Inc. (NASDAQ: AFFX) saw high trading in the stock and in the options today. The stock was up all day on hopes that it could be the next takeover in the biohealth and life sciences sector, although nothing definitive seems to be on the table. Call options trading was high with the DEC09 $5 CALLS trading 2,057 contracts versus an open interest of 625 contracts. What is interesting here on that is the DEC09 options expire in just 9 days now. The stock closed up 13.5% at $5.38 on an unofficial closing bell basis on 2.79 million shares. Average volume is 1.08 million shares and the 52-week trading range is $1.78 to $10.06.
JON C. OGG
AVANIR Pharmaceuticals, Inc. (NASDAQ: AVNR) may hold and it may not, but the stock is now the highest pre-market gapper on NASDAQ in the early trading. This is also news on a low-priced biotech, so trading leverage is often strong here as everyone wants to find the next big biotech runner. At 8:44 AM EST shares were up over 22% at $2.24 on 142,000 shares. The company offered up additional data from the subset of patients with amyotrophic lateral sclerosis (ALS) enrolled in the confirmatory Phase III STAR trial. In the ALS patient subset, both Zenvia 30/10 mg and Zenvia 20/10 mg met the primary efficacy endpoint by significantly reducing daily PBA episode rates compared to placebo. This was presented today during a podium presentation at the 20th International Symposium on ALS/MND in Berlin, Germany. The stock has already come off and is up 16% at $2.12 on 185,000 shares as of 8:47 AM EST.
The 52-week trading range is $0.25 to $4.09 and average daily volume is 1.2 million shares.
JON C. OGG