There are many stocks on the move for day traders and active traders this Tuesday morning now that earnings season has launched.
Amazon.com Inc. (NASDAQ: AMZN) is trading lower after Bank of America/Merrill Lynch cut the rating to NEUTRAL from BUY. Shares are down 2.3% at $120.40 on over 60,000 shares, but the stock was challenging $119 earlier.
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) is up as a VIVUS-FDA side trade stock. Shares are up 10% at $4.72 on over 300,000 shares.
BP plc (NYSE: BP) is down about 1% this morning after it delayed well-cap tests at the Gulf of Mexico disaster until later Wednesday. This morning the oil flows freely.
NBTY Inc. (NYSE: NTY) is surging by 44% to $54.12 after receiving a $3 billion takeover from private equity for the vitamin and supplements operation. We have already seen close to 6 million shares traded.
Orexigen Therapeutics, Inc. (NASDAQ: OREX) is also trading higher on the VIVUS drug class tie ahead of its FDA panel decision today. Shares are up 2.4% at $5.69 on almost 30,000 shares.
Verenium Corporation (NASDAQ: VRNM) is trading up massively after getting a biofuels deal for $98 million for its units from BP. This was a $30 million company, and shares were up 81% at $4.47 on 20,000 shares.
VIVUS, Inc. (NASDAQ: VVUS) SHARES ARE HALTED…. The company has its Qnexa FDA panel decision due today… stay tuned.
JON C. OGG