Active traders and day traders have many stocks to choose from this Wednesday morning. We are tracking news and moves in shares of BP plc (NYSE: BP), Cadence Pharmaceuticals Inc. (NASDAQ: CADX), Fushi Copperweld, Inc. (NASDAQ: FSIN), Garmin Ltd. (NASDAQ: GRMN), OpenTable, Inc. (NASDAQ: OPEN), Qwest Communications International Inc. (NYSE: Q), Sonus Networks, Inc. (NASDAQ: SONS), Taseko Mines Ltd. (AMEX: TGB), and Wynn Resorts Ltd. (NASDAQ: WYNN)
BP plc (NYSE: BP) is up after Goldman Sachs raised it to BUY. Shares are up 3.2% at $42.74. What is most important about this morning is that this is the highest price in the stock after the backlash of the Deepwater Horizon disaster in the Gulf of Mexico.
Cadence Pharmaceuticals Inc. (NASDAQ: CADX) is down despite its Ofirmev winning FDA approval in fevers and pain treatment. Shares are down 10.6% at $8.02.
Fushi Copperweld, Inc. (NASDAQ: FSIN) is going private with an offer of $11.50 per share; shares are up 24% at $11.29.
Garmin Ltd. (NASDAQ: GRMN) is getting hit as secular trends against it showed up in its earnings report; Garmin shares are down 8.2% at $30.30.
OpenTable, Inc. (NASDAQ: OPEN) is soaring after beating earnings and if this holds it will mark a new high… The shares are up 15.7% at $71.06 versus a 52-week trading range of $24.20 to $70.45.
Qwest Communications International Inc. (NYSE: Q) is up after beating profit expectations and noting that its CenturyLink merger will still close. Shares are up 2.4% at $6.83.
Sonus Networks, Inc. (NASDAQ: SONS) said that its latest quarter posted a loss as revenue fell; shares were down 12% earlier but now shares are down ‘only’ 7.5% at $2.96 in active pre-market trading.
Taseko Mines Ltd. (AMEX: TGB) is not a routine name covered, but Canada blocked one of its mining projects; shares are down a whopping 31% at $4.47 on over 1 million shares in the pre-market.
Wynn Resorts Ltd. (NASDAQ: WYNN) is down after earnings met expectations. The $8 special dividend may be holding the shares up more, but shares are down 3.35% at $108.80 in active pre-market trading.
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JON C. OGG