There are many stocks on the move this Monday morning for active traders. Stocks we are tracking are Apple Inc. (NASDAQ: AAPL), Arena Pharmaceuticals Inc. (NASDAQ: ARNA), Expedia Inc. (NASDAQ: EXPE), Lennar Corp. (NYSE: LEN), L-1 Identity Solutions Inc. (NYSE: ID), Open Table, Inc. (NASDAQ: OPEN), and TD Ameritrade Holding Corporation (NASDAQ: AMTD).
Apple Inc. (NASDAQ: AAPL) is trading higher after Kaufman Bros. raised its price target on Apple to $374 from $350 after strong iPad momentum was seen in channel checks. Shares are up 0.4% at $276.44, but keep in mind that the 52-week high and all-time high is $279.01.
Arena Pharmaceuticals Inc. (NASDAQ: ARNA) is trading up marginally in early trading around $2.05. This is after its diet drug failed and shares went from a $3.74 close on Thursday to a close of $1.99 on 80+ million shares. Trading volume is still very light but is picking up.
Expedia Inc. (NASDAQ: EXPE) is down about 2% at $28.19 after being downgraded this morning by Oppenheimer.
Lennar Corp. (NYSE: LEN) shares are up over 5% at $14.75 after the homebuilder reported earnings of $0.16 EPS vs. $0.05 expected. Revenues were also much higher at $825 million.
L-1 Identity Solutions Inc. (NYSE: ID) is trading up 19% at $11.60 after the security solutions provider agreed to be acquired by Safran for $12.00 per share in cash for $1.1 billion in total equity.
Open Table, Inc. (NASDAQ: OPEN) is seeing share hit after Barron’s wrote that its “sky-high valuation could lead to indigestion for investors in the restaurant-reservation Website. Why it might be time to leave the table.” Shares are down 3% at $63.17 in early indications.
TD Ameritrade Holding Corporation (NASDAQ: AMTD) was given a positive article in Barron’s saying not to count the discount broker out. Shares are indicated up 4% at $16.35 on fairly thin volume.
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JON C. OGG