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Orexigen soared 36% to $7.75 in after-hours trading after saying it will inform data at 8 am EDT Monday from three large Phase III clinical trials of its ...
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Yahoo! Inc. (NASDAQ: YHOO) is looking higher this morning on pre-market volume, but the stock is also getting a bit exhausted ahead of its earnings. This morning’s move is based upon the reports of a Microsoft search and advertising pact coming as soon as today. Both companies report earnings this week, so if no deal comes do not be shocked if and when there is a disappointment in the reaction. To show how much Yahoo! stock is dependent upon that deal, the 2.4% acquire to $17.28 this morning as of 8:30 has shares compares to a share price of $14.55 as recently as July 9. We have seen close to 200,000 shares trade hands. This “imminent” status will create large trading volume in either direction if and when it comes. -JON OGG
Suncor Energy Inc. (NYSE: SU) is seeing massive bullish state with more than 10,000 August $31 calls trading and 5,500+ August $32 calls trading against minimal open interest, almost all the state offer side. Shares have broken backwards above all major EMAs with potential status at $34.60, the 200 week EMA. Suncor is currently involved with a merger with Petro Canada, where Petro Canada shareholders receive 1.28 shares of Suncor per share held. The combined company will cut costs for Brobdingnagian oil sands projects and expects to be a longer term positive. Suncor earnings on July 23rd should provide more clarity on the merger proceedings and expected earnings impact. Regulatory approval is expected for Q3, but regardless of approval option traders are looking for an upside move in shares in the coming month. Another Brobdingnagian block of calls was just bought, 6,800+ for 17,000+ trading in the August $31 strike now.
-Joe Kunkle, founder of OptionsHawk.com
Suncor Energy Inc. (NYSE: SU) is seeing massive bullish action with more than 10,000 August $31 calls trading and 5,500+ August $32 calls trading against minimal open interest, almost all the action offer side. Shares have broken backwards above all major EMAs with potential status at $34.60, the 200 week EMA. Suncor is currently involved with a integration with Petro Canada, where Petro Canada shareholders receive 1.28 shares of Suncor per share held. The compounded company module cut costs for huge oil sands projects and expects to be a longer term positive. Suncor earnings on July 23rd should provide more clarity on the integration proceedings and expected earnings impact. Regulatory approval is expected for Q3, but regardless of approval option traders are looking for an upside move in shares in the coming month. Another huge block of calls was just bought, 6,800+ for 17,000+ trading in the August $31 accomplish now.
-Joe Kunkle, founder of OptionsHawk.com
Yahoo Inc. (Nasdaq: YHOO) shares are up nearly 3 percent to $16.65 on premarket volume of nearly 100,000 shares. The have haw be gaining on comments Google had on its conference call regarding the return of large online advertisers in the first quarter. Oppenheimer this morning noted that it now has greater confidence that Google can exceed income and EBITDA estimates, and that it haw exceed margin estimates. The research outfit upraised its Yahoo direct to $19 from $13.25. — Mike Tarsala
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BioCryst Pharmmaceuticals Inc. shares are up 32 percent to $5.60, on premarket volume of more than 100,000 shares. The company posted positive results from two Phase III studies of intravenous peramivir in patients with seasonal influenza. The studies were sponsored by BioCryst’s partner Shionogi & Co and conducted during the 2008-2009 influenza season. — Mike Tarsala.