Top Day Trader Alerts (AAPL, ITMN, SOLF, CNXT, ZANE, RCNI, TIVO)

These are this morning’s top day trader and active trader alerts seen in early pre-market trading.  We have offered the moves, a news summary, and brief color on each for trading references where applicable.

Apple Inc. (NASDAQ: AAPL) is up 2.1% at $215.10 after saying the iPad will be available on April 3m, 2010 in the U.S. but not for about another month in most international markets.

InterMune, Inc. (NASDAQ: ITMN) is soaring on positive drug data.  The company said that the FDA panel will review its lung drug, but the FDA staff has said some questioning remarks as well.  This stock has been very volatile on mixed drug data in recent months and there has been a lot of options trading around this one. At 8:47 AM EST we have seen 2.4 million shares trade hands and the stock is up 83% at $26.74 after a $14.61 close and versus a prior 52-week trading range of $10.48 to $18.14.

Solarfun Power Holdings Co. Ltd. (NASDAQ: SOLF) is trading lower after mixed results.  Its Q4 EPS was $0.25 vs. $0.24 estimates from Thomson Reuters; while revenue rose over 10% to $184 million versus $185 million expected.  Shares were down 3% at $7.30 on 131,000 shares as of 8:47 AM EST.

Conexant Systems, Inc. (NASDAQ: CNXT) is down sharply after it priced a public secondary offering of 14 million shares of its common stock at a price of $4.00 per share versus a $4.39 close and versus a $0.33 to $5.17 trading range of the last year.  At 8:48 AM EST we have seen 1.25 million shares and the stock is down 5.7% at $4.14.

Zanett Inc. (NASDAQ: ZANE) saw exponential gains yesterday.  The company is seeing profit taking and a reality check today.  At 8:51 AM ESt we have shares down 16% at $1.77 on about 45,000 shares.  Average volume is now listed as about 150,000 shares but that is because the figures were skewed by 8 million shares as the stock rose from $0.31 to $2.12 and hitting a high of $2.50.

RCN Corp. (NASDAQ: RCNI) is soaring.  The regional cable TV and internet provider is up 27% at $15.60 after the company agreed to be acquired by ABRY Partners for about $1.2 billion.

TiVo Inc. (NASDAQ: TIVO) is soaring again after yesterday’s gains.  Shares closed at $16.53 and shares are up 8% at $17.86 on about 1.6 million shares as of 8:53 AM EST.

You can join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Massive Volume Spike in TiVo (TIVO)

TiVo Inc. is soaring.  Not just by some but by a major amount.  The company announced just a few minutes ago that the U.S. Court of Appeals release a decision/ruling in the company’s lawsuit against EchoStar.  The company noted:

• “We are pleased that the United States Court of Appeals for the Federal Circuit fully affirmed the district court’s finding of contempt against EchoStar, including both the disablement and infringement provisions. Additionally, this ruling paves the way for TiVo to receive the approximately $300M in damages and contempt sanctions awarded to us for EchoStar’s continued infringement through July 1, 2009. We will also seek further damages and contempt sanctions for the period of continued infringement thereafter. We will continue our efforts to protect our intellectual property from further infringement.”

TiVo has seen its stock spike by about 50% to $15.40 and at 11:51 AM EST we have seen a whopping 25 million shares trade hands.  Average volume is 1.75 million and the stock appears to have hit new 52-week highs.

JON C. OGG

Top Day Trader Alerts (ZUMZ, CNAM, PETM, MDVN, FSYS, STP, URBN, CIEN)

These are this morning’s top day trader and active trader alerts seen in early pre-market trading.  We have offered the moves, a news summary, and brief color on each for trading references where applicable.

Zumiez, Inc. (NASDAQ: ZUMZ) shares are surging as a winner in cold weather themes after it said February same-store sales rose by more than 11%.  Shares are indicated up almost 12% at $17.90 on only about 8,000 shares as of 8:30 AM EST.

China Armco Metals, Inc. (NASDAQ: CNAM) is surging to new highs this morning after it entered into a scrap steel supply contract with a major China Steel producer.  The deal is valued up to $100 million this year.  Its market cap was only about $53 million before the news-pop.   Shares closed at $5.30 yesterday and at 8:30 AM EST we have shares up 41% at $7.51 on 55,000 shares.  Average volume is only about 109,000 and the old 52-week range (3-month only) was $3.00 to $5.90.

Petsmart Inc. (NASDAQ: PETM) is hitting new 52-week highs after the pet retail destination beat earnings and gave a strong outlook.  The old 52-week trading range was $16.17 to $28.10 and the shares are up 10.6% at $30.65 on about 50,000 shares as of 8:31 AM EST.

Medivation, Inc. (NASDAQ: MDVN) has been trading all over the place this morning after yesterday’s biotech implosion on its failed Phase III Alzheimer’s study.  We had seen a gain of almost 2% earlier but shares are down about 0.2% more at $13.07 at 8:28 AM EST on about 138,000 shares.

Fuel Systems Solutions, Inc. (NASDAQ: FSYS), a maker of alternative fuel components and systems, said Q4 earnings were $1.12 EPS vs. $0.98 expected; Revenue was $164 million vs. Thomson Reuters estimate of $158 million.  2010 guidance looks in-line to better as well.  Shares are up 5% at $29.69 on 75,000 shares as of 8:29 AM EST.

Suntech Power Holdings Co., Ltd. (NYSE: STP) is up after it beat earnings estimates: Q4 earnings were $0.27 EPS vs. $0.11 expected; Revenue rose almost 40% to $584 million vs. $470 million or so expected.  Shares are up 6% at $14.50 on 250,00 shares as of 8:29 AM EST.

Urban Outfitters Inc. (NASDAQ: URBN) is up after earnings rose by about 90% and after it exceeded analyst estimates; lower taxes helped, but it also had record sales and rising margins. Shares are up almost 5% at $34.99 on almost 30,000 shares as of 8:27 AM EST.

Ciena Corporation (NASDAQ: CIEN) is getting spanked on light earnings today after Q1 earnings fell short at -$0.12 EPS against Thomson Reuters estimates of -$0.06 EPS.  The telecom equipment player said revenue was up 5% to about $176 million, short of the $185+ million expected.  Shares are down 8.25% at $13.35 on almost 600,000 shares as of 8:28 AM EST.  Shares had been down under $13.00 earlier this morning.

You can join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Who Was That Monster Google Block Trade? (GOOG)

Chasing block trading volume of trades of more than 10,000 or 100,000 shares and higher on a single trade has become almost alchemy in the new world of online trading in equities.  Many funds and traders no longer have large block trades because via pools and exchanges they can get VWAP trades that generate the same trade result as a block and then it can be converted via the virtual weighted average price.  Seeing block trades of 750,000 shares has become quite rare.  But in Google Inc. (NASDAQ: GOOG)??? Almost unheard of any longer.

At 15:28:02 today there was a trade of 750,000 shares of GOOG at $545.15 on the CSE rather than on NASDAQ.  The bid/ask at the time was approximately $545.20 / $545.53.  As with all actual trades, the actual trade time can differ from the reported trade time.  Many after-hours trades or pre-market trades are the evidence of that.  This one was close enough to the bid/ask spread that it was likely not too far off on the time.

But here is the issue.  Almost all trades listed on NASDAQ under GOOG are in 100 share lots to 500 share lots.  After all, 100 shares is $54,500 or so at that price.  The 750,000 share block was $408,862,500.00…..

Generally when you see trades this size, it is because someone wants to advertise their trade.  A big trade indeed.

JON C. OGG

Radio Shack Options More Impressive Than Stock (RSH)

Radio Shack Corp. (NYSE: RSH) is surging on ‘rumors’ today that we are skeptical of endorsing… Either way the stock saw 11.2 million shares trade as of 3:00 PM EST with the stock up around 5% and close to $21.00.

More important is the stock options trading, and it is also more impressive:

• March-2010 $20 and $22.50 Calls have seen over 23,000 options contracts trade between the two; while the open interest was only about 17,000 contracts.
• April-2010 $20 and $22.50 contracts combined have seen over 13,000 contracts versus barely 6,200 contracts in the open interest.

If you add up these call options you get some 36,000 contracts, which is 3.6 million shares worth of options on a fully leveraged basis that would be added to the volume.  The put option volume is paltry.

Caveat emptor!  Still, impressive volume.

JON C. OGG

Price/Volume Spike in Toyota (TM)

Toyota Motor Corp. (NYSE: TM)  is spiking higher this morning.  Maybe it is the realization that many other car companies are having recalls too.  But traders are pouncing on the buy-buttons on the screens at the open.  Shares are gapping up 3% at $76.72 right after the open.  At 9:33 AM EST we have seen 200,000 shares that have traded hands versus 1.8 million shares on average.  This is actually the highest price in the ADR since Feb. 16….
-JON OGG

Top Day Trader Alerts (MDVN, PFE, NFLX, NOVL, COST, VISN)

These are this morning’s top day trader and active trader alerts seen moving on news and events.

Medivation, Inc. (NASDAQ: MDVN) is down almost 70% and at 52-week lows after its Dimebon failed in its Phase III trials to attack Alzheimer’s.  This is very active and will be the most active of all biotechs today with tens of millions of shares likely to trade.  At 8:42 AM EST we have seen 6.5 million shares and the last trade was $12.80.  The 52-week range was $13.36 to $40.49.

Pfizer Inc. (NYSE: PFE) is also indicated lower this morning as well as it was Medivation’s partner on Dimebon for the Alzheimer’s treatment. Pfizer is down 0.7% at $17.47 and it has seen 3.7 million shares as of 8:42 AM EST.

Netflix Inc. (NASDAQ: NFLX) was doing so well…. Yet this morning we saw 3 downgrades from BofA/Merrill Lynch, Kaufman Bros, and Susquehanna.  At 8:42 AM EST we have seen 44,000 shares trade hands and shares are down 4% at $66.20. The 52-week range is $34.11 to $70.00.

Novell, Inc. (NASDAQ: NOVL) is soaring after it got a buyout offer from a private equity group called Elliott and the price was at $5.75 per share in cash.  Shares were trading up above $6.00 last night after the news as many are likely betting that the company will say no or ask for more money.  This morning at 8:43 AM EST we have seen 20 million shares trade hands versus 4.7 million shares on average.  The stock is up 30% at $6.20.

Costco Wholesale Corporation (NASDAQ: COST) had some light earnings on the surface.  Its most recent quarter was $0.70 EPS vs. $0.72 estimates. Revenue rose 11% to $18.7 billion vs. estimates of $18.5 billion.  The problem is valuation here at almost 20-times forward earnings.  At 8:44 AM EST shares are down 3.8% at $59.00 on 475,000 shares and the 52-week trading range is $38.17 to $62.12.  Average volume is 3.4 million shares.

VisionChina Media, Inc. (NASDAQ: VISN) is getting hit hard.  The stock closed at $8.20 yesterday and the shares are down 26% at $6.05 on 685,885 shares as of 8:48 AM EST.  The average volume here is only about 400,000 shares after its earnings report.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Top Day Trader Alerts (QCOM, CRZO, DNDN, TRA, CF, NTRI, SPLS, NUHC)

These are this morning’s top day trader and active trader alert stocks seen on the move with news events.  We have provided appropriate trading data and color on each where applicable.

QUALCOMM Corp. (NASDAQ: QCOM) has done something to try to halt what has been a share price freefall after 7 straight down days.  The CDMA chipset designer announced a new $3 billion buyback program and announced that it was raising its quarterly dividend to $0.19 from $0.17.  Even at 8:28 AM EST we have seen over 750,000 shares trade hands and the stock is up 3.3% at $36.75.

Carrizo Oil & Gas Inc. (NASDAQ: CRZO) rose last night and is indicated higher again.  Jim Cramer interviewed the company CEO on CNBC’s Mad Money as a natural gas winner that still has room to improve. Volume is thin this morning so far but shares are indicated up 4% at $25.27.

Dendreon Corporation (NASDAQ: DNDN) is trading lower this morning.  TheStreet.com has highlighted an independent report claiming that the company’s PROVENGE is likely to be brought before an FDA panel.  The reason for the drop is that most expected this to go straight to the approval process which is due on or before May 1.  Shares are down almost 7% at $30.25 on over 500,000 at 8:30 AM EST.

Terra Industries Inc. (NYSE: TRA) is back in the spotlight as the target of CF Industries Holdings, Inc. (NYSE: CF).  CF is offering $47.40 for the company.   This is likely to put a focus on other fertilizer and potash companies today despite poor earnings data from the group.  CF is down 7% at $100.20 on almost 300,000 shares and Terra is up 12% at $46.35 (a new 52-week high above $43.13) on over 7.5 million shares as of 8:25 AM EST.

NutriSystem Inc. (NASDAQ: NTRI) is trading down sharply after earnings.  The company posted positive earnings for its Q4 period but guidance for the coming quarter is proving to be a very weak Q1.  Shares were down 12% at $16.50 last night in active trading and this morning at 8:25 AM EST we have shares down 14.3% at $16.19 on 170,000 shares in the pre-market.  Average volume is about 1.05 million shares and the 52-week range is $11.58 to $33.54.

Staples Inc. (NASDAQ: SPLS) is trading lower after earnings.  It posted $0.38 non-GAAP EPS vs. $0.39 estimate from Thomson Reuters and gave guidance for the coming quarter of $0.25 to $0.27 EPS versus estimates of $0.27.  At 8:25 AM EST we have seen 260,000 shares trade and the last print was down 6.2% at $24.25.  This was already very close to 52-week highs as its range of the last year is $14.35 to $26.00.

Nu Horizons Electronics Corp. (NASDAQ: NUHC) is usually thin volume.  But it and Xilinx are terminating a distribution pact.  Nu Horizons usually trades about 44,000 shares per day.  The market is not even open yet and at 8:33 AM EST we have seen 40,000 shares trade hands and the stock is down 28% at $3.14 to be the biggest percentage loser of the day.  The stock closed at $4.40 yesterday and the 52-week range is $1.45 to $4.68.

You can join our free daily email distribution list to hear more about top day trader and active trader alerts, dividend trends, analyst upgrades and downgrades, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

No Deal for New York Times? (NYT)

The New York Times Company (NYSE: NYT) started rising earlier today on buyout rumors and we have seen a virtual 300% of trading volume with more than 90 minutes left in the day.  The rumor mill noted billionaire Mexican investor Carlos Slim as potentially buying the rest of the company he does not own.  He owns approximately 6.5% of the company and if conversions of debt were all made it may be 14% or so.  CNBC just issued a brief note that a spokesperson for Carlos Slim has denied the rumors and said the rumor is absolutely not true.

Shares are up 4% at $11.38 on 7.7 million shares as of 2:21 PM EST.  Shares have traded as high as $12.00.

JON OGG

Top Day Trader Alert Stocks (OSIP, ARIA, SIRI, PALM, MIL, PLL, GAME)

These are this Monday’s top day trader and active trader alerts.  We have given added price and volume data and given the news or events behind the move with added color where applicable:

OSI Pharmaceuticals Inc. (NASDAQ: OSIP) is soaring this morning after Astellas in Japan said it was commencing a hostile tender offer directly to shareholders.  The $52.00 cash offer is actually under the current price now because holders anticipate that a higher offer will come.  At 8:34 AM EST we have seen 6 million shares trade hands and the stock is up 48% at $55.02.  The 52-week trading range was $27.01 to $39.83.

Ariad Pharmaceuticals, Inc. (NASDAQ: ARIA) is trrading up after it received Orphan Drug Designations for its investigational BCR-ABL inhibitor, AP24534, in chronic myeloid leukemia.  Shares are up 6% at $2.69 on almost 100K shares as of 8:42 AM EST.  The week range is $0.97 to $3.48 and the average volume is 1.7 million shares.

SIRIUS XM Radio Inc. (NASDAQ: SIRI) is down 5% at $0.966 this morning after Wunderlich cut its Buy rating down to Hold.  This was a valuation call as it issued a $1.00 target when it gave its Buy recommendation.  At 8:33 AM EST we have already seen close to 3 million shares trade hands.

Palm, Inc. (NASDAQ: PALM) is up marginally but it might not seem to be after Barron’s said it could down much further and go back toward $3.00 per share.  Shares are up 1% at $6.16 but that is on broad market gains and on traders hoping for a grossly oversold bounce rather than based on any real news.

Millipore Corporation (NYSE: MIL) is shooting this morning.  It got the big buyout it wanted… but from a different suitor.  Merck KGaA of Germany is paying $107 per share plus debt.  The stock is up 11.2%at $105.00 on 1.3 million shares as of 8:38 AM EST.

Pall Corp. (NYSE: PLL) is up in conjunction with Milipore.  This fluids and filtration play has also been thought of as a takeover target.  Thermo Fisher (NYSE: TMO) was supposed to be the Millipore buyer, and then there were rumors last week that 3M Co. (NYSE: MMM) had an interest in Millipore.  Maybe Pal is looking more and more attractive now.  Volume is thin but the stock is indicated up almost 5% at $41.35 as of 8:40 AM EST.

Shanda Games Limited (NASDAQ: GAME) posted a 13% rise in income but it doesn’t look t be pleasing investors.  At 8:44 AM EST we have shares down 12% at $7.28 and the volume is over 250,000 shares.  Its range since last year’s IPO is $7.95 to $13.00.  Today will mark its lowest levels…

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

Jon C. Ogg

Top Day Trader Alerts (AIG, ATHN, CKR, CROX, DECK, PALM, SIRI)

These are today’s top day trader and top active trader alert stocks seen in the pre-market movers.  We have offered some color and data on price and trading volume on each news mover.

American International Group, Inc. (NYSE: AIG), a.k.a. Government Insurance, is trading lower after earnings this morning.  The troubled insurer posted an $8.9 billion loss, has curbed a NY Fed repayment plan, and has now said that it may require more government financial assistance.  Shares are down 5% at $26.04 on almost 1 million shares as of 8:45 AM EST.

athenahealth, Inc. (NASDAQ: ATHN) delayed its earnings, and it also said it needed more time to complete reviews and procedures.  It even noted that it would be late with its 10-K and warnings of possible restatements.  Shares were off more than 15% last night and so far this morning we have shares down 11% at $38.73 on about 200,000 shares as of 8:43 AM EST.

CKE Restaurants Inc. (NYSE: CKR) is soaring after it has received a 24% cash premium buyout offer from Thomas H. Lee Partners.  The deal is approximately $928 million including $309 million of net debt; the cash buyout price is $11.05 per share yet shares are at a slight premium for the owner of Carl’s Junior.  After closing at $8.91 and with a 52-week range of $5.65 to $11.52, this one is up 25.5% at $11.18 on over 1.2 million shares as of 8:43 AM EST.

Crocs, inc. (NASDAQ: CROX) is trading lower this morning but above pre-market lows.  We originally saw a 15% drop but the stock looks down almost 9% at $7.10 on about 395,000 shares as of 8:37 AM EST.  The company’s loss narrowed and was actually better than estimates, but its CEO Duerden is stepping down.

Deckers Outdoor Corp. (NASDAQ: DECK) beat earnings yet again last night.  The owner of Uggs and Teva shoes continued over and over to beat earnings expectations.  Shares are up 8% at $114.75 on fairly thin volume this morning.  The 52-week range is $37.24 to $113.10 and average volume is about 445,00 shares.

Palm Inc. (NASDAQ: PALM) is only noted here this morning because of a downgrade and because of yesterday’s meteoric drop.  Palm is up 0.5% at $6.56 on about 200,000 shares as of 8:40 AM EST.

SIRIUS XM Radio Inc. (NASDAQ: SIRI) is trading strong again after yesterday’s earnings, but we would note that SIRI traded up first and then lower on the day Thursday.  The satellite radio monopoly has seen 1% gains this morning on over 2.6 million shares as of 8:48 AM EST.

You can join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

athenahealth Drummed in After-Hours Trading (ATHN)

athenahealth, Inc. (NASDAQ: ATHN) is getting drilled and shelled in after hours trading.  The Internet-based business services for physician practices was supposed to be a winner in the healthcare cost containment and healthcare cost savings plans that have been fought over endlessly in Washington D.C. under the new administration.  But maybe its CEO being a cousin of the former President Bush is working against the company.

The company that it will postpone the release of its financial results for the fourth quarter of 2009 and the year ended December 31, 2009, and its previously announced conference call to discuss these results originally scheduled for February 26, 2010, in order to allow additional time to complete the year-end audit and conduct an internal accounting policy review related to the timing of amortization for deferred implementation revenue.  But the company also said it expects to file a late filing notification with the SEC on Tuesday, March 2, 2010 notifying the SEC that its Annual Report could not be filed without unreasonable expense or effort within the prescribed time period.

athenahealth also said it will announce the revised date for reporting Q4 and fiscal year 2009 earnings in a subsequent release.  Due to some accounting changes, it looks like restatements are coming as well.  Shares closed up 1.1% at $43.51 and the 52-week trading range is $23.15 to $47.82.

Unfortunately, this one is getting drummed in the after-hours session.  At 4:37 PM EST we have seen over 780,000 shares trade in the after-hours session alone and the last print was $37.35.  There was a print as low as $35.60.  athenahealth looks like it is going to be athenasick come Friday morning.

JON C. OGG

Top Day Trader Alerts (PALM, BBI, CRM, ESRX, IPXL, FSLR, FITB)

These are this Thursday’s top day trader and active trader alerts seen in the pre-market session:

Palm Inc. (NASDAQ: PALM) was halted earlier this morning after it lowered guidance.  The company forecast that Q3 revenues will be $285 to $310 million and non-GAAP revenue $300 to $320 million.  The company sees 2010 revenue ‘well below’ the $1.6 to $1.8 billion forecast.  The 52-week range is $5.85 to $18.09 and shares closed at $8.09 Wednesday.

• UPDATE ON PALM: At 9:41 AM EST shares are down 17% at $6.68 on 16.5 million shares. We have already passed the 12 million shares on average per day mark and it is only 9:42.  You could see 75 million to 100 million shares trade hands today.

Blockbuster Inc. (NYSE: BBI) is far from being a blockbuster.   The movie rental leader posted a loss of $435 million in the fourth quarter.  Can’t you just feel the love.  There has also been a downgrade to SELL from Janney Montgomery Scott.  Shares are down 9.4% at $0.33 at 8:55 AM EST.

salesforce.com (NYSE: CRM) is up despite some cautious headlines.  After looking at the estimates, the company did beat earnings and lift guidance.  As always, excessive stock valuations are always a concern here.  At 8:57 AM EST we have seen only 23,000 shares trade hands and the stock is up 1.2% at $70.27.  The 52-week trading range is $26.10 to $75.53 and the average volume is $1.8 million shares.

Express Scripts, Inc. (NASDAQ: ESRX) shares are rising this morning after beating its earnings estimates.  The stock is up 9% at $95.70 on 152,916 shares as of 8:57 AM ESt.

Impax Laboratories Inc. (NASDAQ: IPXL) is trading up this morning as earnings were significantly above estimates.  The stock closed at $14.90 on Wednesday and shares are up 8.4% at $16.15 on 170,439  shares as of 8:57 AM EST.

First Solar, Inc.  (NASDAQ: FSLR) is feeling the heat all over again.  Shares closed at $105.13 yesterday and shares are down 3.8% at $101.12 on 58,475 shares as of 8:57 AM ESt.  The 52-week low is $100.90, so the stock is in danger of hitting new 52-week lows if it does not immediately recovery.  More importantly, the stock could trade in double-digit territory again.

Fifth Third Bancorp (NASDAQ: FITB) is lower this morning after Citigroup downgraded the stock to HOLD in a research note.  Shares closed at $12.69 and down 2.8% at $12.33 on 59,750 as of 8:57 AM EST.

You are invited to join our free daily email distribution list to hear about top analyst upgrades and downgrades, IPOs and secondary offerings, ongoing day trader and options trader alerts, stock and market rumors, Buffett and guru investor news, M&A and more.

JON C. OGG

Top Day Trader Alerts (STEC, SLXP, NBG, GRMN, ADSK, ACAS)

These are this morning’s top day trader and active trader alerts seen in the pre-market activity.  We have news summaries and background data where applicable on each.

STEC Inc. (NASDAQ: STEC) is getting crushed after last night’s news. We have seen three downgrades and expect more after the company continues to get hit on asset impairment charges.  After closing at $13.42, STEC is indicated down under $10.00 this morning.  Shares are down 29% at $9.43 on 700,000 shares as of 8:24 AM EST.  Look for volume to rise rapidly and surpass its 5 million average early.  The 52-week trading range here is $4.92 â€" $42.50.

Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP) closed at $24.25 and shares are up 18% at $28.65 on 200,893 shares as of 8:26 AM EST.  The company reported that the FDA Advisory Committee recommended approval Of XIFAXAN® (rifaximin) tablets for maintenance of remission of hepatic encephalopathy.

National Bank of Greece SA (NYSE: NBG) is now trading up almost 2% at $3.85 on almost 10,000 shares as of 8:24 AM EST after shares had been indicated lower earlier this morning pending yesterday;s Fitch downgrade of Greek banks.

Garmin Ltd. (NASDAQ: GRMN) is trading higher after earnings this morning.  The GPS and PND maker closed at $34.45 and shares are up 2.5% at $35.30 on 105,903 as of 8:30 AM EST.

Autodesk, Inc. (NASDAQ:ADSK) is trading up after its Q4 earnings beat analyst expectations.  We also saw a Buy upgrade at Needham.  At 8:30AM EST we have shares trading up about 6.7% at $27.40 on about 100,000 shares.

American Capital, Ltd. (NASDAQ: ACAS) is trading lower after its earnings on Tuesday night were short of expectations.  We have shares down 2.6% at $3.75 on 120,000 shares as of 8:32 AM EST.

You are invited to join our free daily email distribution list to hear about top analyst upgrades and downgrades, IPOs and secondary offerings, ongoing day trader and options trader alerts, stock and market rumors, Buffett and guru investor news, M&A and more.

JON C. OGG

Top Day Trader Alerts (BRCD, PALM, PIP, RDN, OCNF)

These are 5 of the top pre-market movers this Tuesday morning.  We have added color and additional data on each applicable to each stock in the news:

Brocade Communications Systems, Inc. (NASDAQ: BRCD) is getting crushed after earnings last night as revenues were light on targets and its guidance was deemed sloppy to soft.  We have also seen at least two analyst downgrades.  Shares are down 18% at $5.70 as of 8:48 AM EST and we have already seen more than 15 million shares pre-market.  This is a major spike in volume and almost never seen this active pre-market.

Palm, Inc. (NASDAQ: PALM) was already on a downward trajectory, but we have seen two downgrades this morning and one initiation of analyst coverage with a Hold rating.  At 8:49 AM ESt we have seen 330,000 shares trade hands and the stock is down 4.5% at $8.70.  This looks to be multi-month lows at Palm.

PharmAthene, Inc. (AMEX: PIP) is a low-priced stock but is screaming higher this morning.  At 8:51 AM EST we have shares up over 28% at $2.46 on 220,000 shares.  The 52-week range is $1.13 to $4.31.  The company was awarded up to additional $78.4 million under existing contract for advanced development of SparVax Anthrax vaccine.

Radian Group, Inc. (NYSE: RDN) is trading up after it reported a narrower-than-expected Q4 loss.  Shares are up 8.9% at $9.35 on about 125,000 shares as of 8:55 AM ESt.  The 52-week trading range is $0.95 to $12.48 and average volume is about 3.5 million shares.  Radian is one of these beaten-up financial guaranty and mortgage insurers, otherwise we might not care.

OceanFreight, Inc. (NASDAQ: OCNF) is getting hit this morning by almost 10%.  This is a low-priced stock and its loss widened on an impairment charge.  Shares are down 9.8% at $0.74 on 140,000 shares as of 8:54 AM EST.  This is close to 52-week lows as the year’s range is $0.70 to $2.10.

You are invited to join our free daily email distribution listTop  to hear about top analyst upgrades and downgrades, IPOs and secondary offerings, ongoing day trader and options trader alerts, stock and market rumors, Buffett and guru investor news, M&A and more.

JON C. OGG

200% Volume Spike in Commercial Metals (CMC)

Commercial Metals Company (NYSE: CMC) is one we have been following today for an explosion in trading volume on what is actually a very quiet trading day.  The stock is now up 11.9% at $16.87 on 5.3 million shares.  The 52-week trading range is $8.83 to $21.29 and the average volume is only about 1.8 million shares.  This stock petered out just north of $17.00 in the last 30 minutes or so and we are starting to see at least some profit taking in the name.

The reason is the old “takeover chatter” but we’d also note that this is on the heels of many large funds disclosing gains and subtractions in the stock.  The market cap here is a mere $1.89 billion, so it is not one of those old metals mergers that had been thrown out there with no real chance of being seen.

JON C. OGG

Top Day Trader Alerts (SII, SLB, XNPT, GSK, LOW, BPAX)

These are this Monday’s top day trader and active trader alert stocks seen in the pre-market hours.  It is surprising on the lack of stocks with double-digit gainers or losers.  A brief explanation and volume comparisons are provided where applicable.

Smith (SII) is up again and up far more than what options were indicating on Friday.  Schlumberger Ltd. has formalized a buyout of the oil services player in an all-stock deal of 0.6966 SLB per SII share in a deal coming to$45.84 before any dilution of SLB.  Shares are indicated up almost 7.5% at $40.50 this morning on almost 8 million shares in the pre-market session alone.  The high on Friday after the deal was leaked was $38.16 and shares closed at $37.70.

Xenoport, Inc. (NASDAQ: XNPT) is one of the most active gainers this morning, but this is just the trading reaction after last week’s crush after its RLS treatment was not given FDA approval.  Keep in mind here that after shares dropped from $19.60 to $6.67 that the Friday price went back up to $8.38 on over 27.9 million.  At 8:54 AM EST we have shares up 5.8% at $8.87 on 588,000 shares in the pre-market.

GlaxoSmithKline plc (NYSE: GSK) is holding up better than some might expect.  The company is effectively being urged to pull its blockbuster drug Avandia because of heart risks.  Shares of the ADR are down 2.25% at $37.40 on 70,000 shares as of 8:58 AM EST.

Lowe’s Companies Inc. (NYSE: LOW) is trading up after the #2 home improvement store managed to beat earnings estimates. It reported $0.14 EPS vs $0.12 estimates.  The company now sees gains of 1 to 3 percent same store sales guidance for gains in 2010 and suggested that the worst of the economic crisis is behind.  Also announced was up to $5 billion for share buybacks versus a $34 billion market cap.  Shares are up 1.8% at $23.56 at 8:00 AM EST on over 950,000 shares.

BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) is trading higher after it reported positive LibiGel® safety data in its ongoing Phase III study program.  Biosante shares are up 6% at $1.94 on 116,000 shares as of 8:58 AM EST.

You are invited to join our free daily email distribution list to hear about top analyst upgrades and downgrades, IPOs and secondary offerings, ongoing day trader and options trader alerts, stock and market rumors, Buffett and guru investor news, M&A and more.

JON C. OGG

Options Read on Smith International Buyout Talk (SII, SLB)

The reports today put Smith International Inc. (NYSE: SII) as a company in talks to be acquired by Schlumberger Ltd. (NYSE: SLB).  If this occurs it would be the largest oilfield services giant becoming even larger.  While we have yet to see a formal deal, Smith shares traded over 42 million shares today, almost 8-times normal volume, and closed up 13% at $37.70.  The stock also hit an intraday high of $38.16, marking a new 52-week high that is just a hair under being up 100% from a 52-week low of $18.43.

With any buyout talk, whether confirmed or just rumor, we always look to see what the stock options market is telling us.  The options trading is never very active in Smith, but today’s options trading was nearly as exponential as the stock.

FEB-2010 EXPIRATION
Calls$    Vol.    OpInt
35.00    726    1,149
Puts    Vol.    OpInt
35.00    1,935    110

MARCH-2010 EXPIRATION
Call$    Vol.    OpInt.
34.00    523    3,656
35.00    2,497    991
36.00    3,886    1,775
37.00    4,952    13
Puts$    Vol.    OpInt.
33.00    711    177
34.00    3,059    22
35.00    3,646    80
APRIL-2010 EXPIRATION
Call$    Vol.    OpInt.
37.00    1,547    1,556
40.00    1,667    188

After a review of the options prices at the close, the implied buyout price would be just short of $39.00.

JON C. OGG

Top Day Trader Alerts (APOL, BAC, CSIQ, CPST, DELL, FSLR, HUN, SII, WBMD)

These are this Friday’s top day trader alerts and active trader alerts we have seen on the move based upon events.  We have an explanation and added color on each where applicable:

Apollo Group Inc. (NASDAQ: APOL) is trading down sharply after providing preliminary guidance that is short of estimates for Q2.  The company is boosting a share buyback by $500 million, but no one cares.  At 8:37 AM EST we have seen over 260,000 shares trade hands and the stock is down 12% at $54.04.  Keep in mind here that the 52-week trading range is $52.79 to $84.22 so it is close to a 52-week low.

Bank of America Corporation (NYSE: BAC) has several issues to watch today.   First is that the discount rate was raised.  Late yesterday Meredith Whitney called it the “Least Worse” of big banks on the NYSE floor in a CNBC interview.  Last night came reports that the government is reportedly going to sell its warrants.  Shares are down 1.15% at $15.70 on 600,000 shares as of 8:30 AM EST.

Canadian Solar Inc. (NASDAQ: CSIQ) is getting clipped.  The company now expects its gross margin to be in the mid-teens versus guidance that was initially put at the high-teens.  Shares are down 10% at $22.22 on almost 100,000 shares as of 8:40 AM EST.  This one is VERY volatile… the 52-week range is $3.00 to $33.68 and average volume is 2.1 million shares.

Capstone Turbine Corp. (NASDAQ: CPST) announced a proposed stock offering last night via Lazard.  This had been telegraphed before in a recent filing to raise capital, but shares are down 11% at $ 1.10 on 55,000 shares as of 8:30 AM EST.

Dell Inc. (NASDAQ: DELL) saw its fiscal fourth quarter earnings fall 5% to $334 million and EPS dropped 6% to 17%. The company reported that sales rose 11% to $14.9 billion.  Shares were down 3% last night and were down 5% at $13.70 on 1.4 million shares as of 8:40 AM EST.

First Solar, Inc. (NASDAQ: FSLR) is getting drummed this morning, but it seems that the weakness is being used as a buying opportunity by some because shares are up $2.00 from last night’s and this morning’s lows.  Shares are down over 7% at $117.00 on over 50,000 shares as f 8:31 AM EST.

Huntsman Corp. (NYSE: HUN) is trading up this morning after the chemicals company managed to post $0.27 EPS rather than an expected loss, and revenues were roughly $2 billion versus $1.9 billion expected (Thomson Reuters estimates).  At 8:34 AM ESt we have shares up 4.5% at $12.93 on 44,000 shares.

Smith International Inc. (NYSE: SII) is soaring on reports that Schlumberger Ltd. (NYSE: SLB) is talks to acquire the company. Shares were indicated up 20% earlier on the news, but the stock is up about 14% at $38.00 on 450,000 shares as of 8:35 AM EST.

WebMD Health Corp. (NASDAQ: WBMD) is soaring after earnings and after it was raised to Buy at Citigroup.  Shares are up almost 7% at $42.00 on 45,000 shares as of 8:50 AM EST.  This appears to be a 52-week high as the prior range is listed as $19.45 to $40.44.

You are invited to join our free daily email distribution list to hear about top analyst upgrades and downgrades, IPOs and secondary offerings, ongoing day trader and options trader alerts, stock and market rumors, Buffett and guru investor news, M&A and more.

JON C. OGG
FEBRUARY 19, 2010

The Rate Hike Cycle Begins

Just yesterday in the FOMC meeting minutes from January, it was becoming painfully clear that the FOMC was getting closer and closer to hiking rates.  Most notable was that the discussions had been revolving around whether changing the “extended period” and more importantly that the FOMC was considering a hike in the discount rate.

It is unusual to see the FOMC hike or cut the discount rate and not move the Fed Funds rate…. but that is what we are getting.  The Fed has raised the discount rate by 0.25%.

The FOMC raised the discount rate to 0.75% from 0.50%, effective tomorrow.  The FOMC noted that the policy outlook is effectively the same as during the January meeting.  But it also noted that it will assess whether further discount rate hikes are needed.

The discount window borrowings as of last night were $87.77 billion and foreign central bank custody holdings were listed as $2.957 trillion.  More important than that is that the Fed’s Mortgage-backed securities holdings crossed the $1 trillion mark.

The discount rate is the interest rate that depository institutions are charged to borrow short term funds directly from the Federal Reserve.   Today is not a full rate hike.  But this is the beginning of the end of all that free money.

JON C. OGG