There are many stocks on the move for day traders and active traders to pick from this Monday morning. We are watching the key moves in Administaff Inc. (NYSE: ASF), Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), Ambac Financial Group, Inc. (NYSE: ABK), Bank of America Corporation (NYSE: BAC), Charles River Laboratories International, Inc. (NYSE: CRL), Dish Network Corp. (NASDAQ: DISH), DryShips Inc. (NASDAQ: DRYS), Genzyme Corp. (NASDAQ: GENZ), Geron Corporation (NASDAQ: GERN), Humana Inc. (NYSE: HUM), and Oshkosh Corporation (NYSE: OSK). We have compiled news and the moves on each and added in trading color where applicable.
Administaff Inc. (NYSE: ASF) is rallying after its Q2 earnings profit fell less than the 5% expected drop at a time when revenues rose but faced higher operating costs. Shares were up about 7% in early-bird indications and now shares are trading up 9.35% at $28.50 on relatively low-volume trading. This one only trades about 210,000 shares per day on average.
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) is trading lower after J.P.Morgan downgraded it on valuation to Neutral from Overweight. Shares are down 4.8% at $7.57 on almost 400,000 shares.
Ambac Financial Group, Inc. (NYSE: ABK) stood out as a pre-market gainer in the speculative names on ongoing positive and less-negative financial sector bias. Shares are up 3% at $0.86 on about 130,000 shares.
Bank of America Corporation (NYSE: BAC) is trading higher this morning in fairly active trading after Barron’s reported that the sell-off of late offers an attractive entry point despite its changes away from overdraft and late-fee charges. Shares are up just over 2.1% at $14.34 on over 1 million shares in the pre-market.
Charles River Laboratories International, Inc. (NYSE: CRL) is feeling pain after earnings fell by more than 50% on slower sales volumes, higher costs, and weak product demand. Shares are down 7.3% at $28.80 on about 10,000 shares.
Dish Network Corp. (NASDAQ: DISH) is showing up as a stand-out gainer on high pre-market volume, but the move may be a false one. There was a $20.08 print this morning on 125,562 shares and then there were two small prints at $21.35 and $21.49…. treat this one as a false move.
DryShips Inc. (NASDAQ: DRYS) is trading higher after a newsletter tout after last week’s earnings. Shares are trading up 3.3% at $4.66 on about 55,000 shares.
Genzyme Corp. (NASDAQ: GENZ) is a bull-bear tug of war… Citi downgraded shares to Hold based upon the move versus an expected premium but goes on to say that an expected price range is $74 to $77 for a bid. Still, no formal deal has come. Shares were up 0.6% at $70.00 on about 30,000 shares.
Geron Corporation (NASDAQ: GERN) is up again after the same news drove it on Friday about the FDA clearing it to resume a stem cell study. Shares went to $5.63 on Friday versus a $4.80 close on Thursday… a gain of 17%. This morning we have shares trading up almost 6% more at $5.96 on over 150,000 shares in the pre-market.
Humana Inc. (NYSE: HUM) reported Q2 earnings of $2.00 EPS on headline numbers versus estimates of $1.67 EPS from Thomson Reuters; revenue rose almost 10% to $8.65 billion versus $8.6 billion expected.
Oshkosh Corporation (NYSE: OSK) reported $2.31 EPS vs $1.92 estimates from Thomson Reuters; revenues were basically up 100% at $2.43 billion vs. $2.29 billion expected. Shares are up almost 5% around $36.00 but trading volume is still thin on the NYSE-listed company.
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JON C. OGG