24/7 Wall St. » ALKS

The Inevitable Amylin Buyout (AMLN, BMY, LLY, ALKS)

Administrator — Wed, 28 Mar 2012 13:52:17 +0000

If there was a merger candidate which ever made sense in biotech and pharma it is Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN). News from Bloomberg is out that the company has rejected an offer to be acquired by Bristol-Myers Squibb Company (NYSE: BMY).

Investors often speculate that drug partners (or competitors) will merge. After all, if a big drug company can add on full revenues rather than partial revenues and can milk out cost efficiencies of the combined outfit, it only makes sense if the price is right. That also could bring Eli Lilly and Company (NYSE: LLY) into the mix if you look through recent press releases. Amylin has been the subject of takeover rumors on and off over the last 8 years or so. Frankly, any large drug company could be a potential acquirer of this company if the price is right.

Bloomberg has reported that Amylin rejected a $3.5 billion offer. Bristol-Myers has a market value of nearly $57 billion. Amylin shares are now up 48% at $22.62 and many investors believe that BYETTA can become a blockbuster drug as a new treatment for diabetes. To prove the point, Thomson Reuters has consensus revenue targets of $688.12 million for 2012 and $845.3 million for 2013.

As a reminder, Amylin lists Alkermes plc (NASDAQ: ALKS) as a strategic partner and noted on its partnership page “Amylin worked with Alkermes to develop the first once-weekly treatment for type 2 diabetes using Alkermes’ proprietary technology for long-acting medications.”

It also noted that Takeda Pharmaceutical Company Limited is a partner: “In October 2009, Amylin and Takeda entered into a worldwide exclusive license, development and commercialization agreement to co-develop and commercialize pharmaceutical products for the treatment of obesity and related indications.”

Biocon, Limited is the other partner listed: “In September 2009, Amylin and Biocon entered into an exclusive agreement to jointly develop, commercialize and manufacture a novel peptide therapeutic for the potential treatment of diabetes.”

We are treating this as a rumor only at this point, but we suspect that the company will either confirm the report or issue a statement that they are not going to comment on market rumors. Either way, Amylin is one of the emerging biotech and biopharma players which seems like a shoe-in to be acquired soon or down the road. The real question is what price, and ultimately when.

JON C. OGG

Filed under: Biotech, Drug companies, Mergers and Buy Outs, Pharmaceuticals, Rumors Tagged: ALKS, AMLN, BMY, LLY

Top Analyst Upgrades & Downgrades (AMD, ALKS, AMSG, ERTS, EXPE, FSLR, GXP, GMCR, GPRE, ITRI, NFLX, OXY, SLE, UTX)

Administrator — Mon, 26 Sep 2011 12:25:05 +0000

These are some of this Monday’s top analyst upgrades, downgrades, and initiations seen having an impact from Wall Street research.

Advanced Micro Devices Inc. (NYSE: AMD) Raised to Buy at UBS.
Alkermes plc (NASDAQ: ALKS) Raised to Buy at Jefferies.
AmSurg Corporation (NASDAQ: AMSG) named Bull of the Day at Zacks.
Electronic Arts Inc. (NASDAQ: ERTS) Maintained Neutral but raised estimates at Janney.
Expedia Inc. (NASDAQ: EXPE) Raised to Overweight at Piper Jaffray.
First Solar Inc. (NASDAQ: FSLR) Raised to Hold at Maxim Group.
Great Plains Energy Incorporated (NYSE: GXP) Raised to Conviction Buy List at Goldman Sachs.
Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) Started as Buy with $130 target at Argus.
Green Plains Renewable Energy, Inc. (NASDAQ: GPRE) Started as Neutral at Credit Suisse.
Itron Inc. (NASDAQ: ITRI) Started as Overweight at Morgan Stanley.
Netflix, Inc. (NASDAQ: NFLX) Raised to Buy at Merriman.
Occidental Petroleum Corporation (NYSE: OXY) Raised to Buy at Citigroup.
Sara Lee Corporation (NYSE: SLE) named Bear of the Day at Zacks.
United Technologies Corporation (NYSE: UTX) Raised to Overweight at Morgan Stanley.

Also, here are the top analyst calls of the last week which carry over far beyond just the day and week.

JON C. OGG

Filed under: Analyst Calls Tagged: ALKS, AMD, AMSG, ERTS, EXPE, FSLR, GMCR, GPRE, GXP, ITRI, NFLX, OXY, SLE, UTX

Top Analyst Upgrades & Downgrades (ALKS, AMP, BWA, CSCO, CLB, DD, GTIV, HIG, JASO, JPM, JWN, NSC, ORCL, PFE, STP, TSL, UAL)

Administrator — Wed, 14 Sep 2011 12:12:59 +0000

These are some of this Wednesday’s top analyst upgrades, downgrades, and initiations seen having an impact from Wall Street research calls.

Alkermes, Inc. (NASDAQ: ALKS) Removed from US 1 List but maintained Buy at BofA/ML.
Ameriprise Financial Inc. (NYSE: AMP) Raised to Outperform at Credit Suisse.
BorgWarner, Inc. (NYSE: BWA) is Bull of the Day at Zacks.
Cisco Systems Inc. (NASDAQ: CSCO) Reiterated Buy with $22 target at BofA/ML; Reiterated Outperform at CRedit Suisse.
Core Laboratories NV (NYSE: CLB) Cut to Underperform at BofA/ML.
EI DuPont de Nemours & Co. (NYSE: DD) Raised to Buy at S&P Equity Research (late Tuesday).
Gentiva Health Services (NASDAQ: GTIV) Cut to Underperform as Bear of the Day at Zacks.
Hartford Financial Services Group Inc. (NYSE: HIG) Raised to Outperform at Credit Suisse.
JA Solar Holdings Co., Ltd. (NASDAQ: JASO) Cut to Underperform at Jefferies.
J.P. Morgan Chase & Co. (NYSE: JPM) Maintained Outperform but cut estimates at Credit Suisse.
Nordstrom Inc. (NYSE: JWN) Cut to Neutral at Goldman Sachs.
Norfolk Southern Corporation (NYSE: NSC) Value Stock of the Day at Zacks.
Oracle Corporation (NASDAQ: ORCL) Raised to Positive at Susquehanna.
Pfizer Inc. (NYSE: PFE) Cut to Equal-Weight at Barclays.
Suntech Power Holdings Co. Ltd. (NYSE: STP) Cut to Underperform at Jefferies.
Trina Solar Ltd. (NYSE: TSL) Cut to Hold at Jefferies.
United Continental Holdings, Inc. (NYSE: UAL) Reiterated Buy with $34 target at BofA/ML.

JON C. OGG

Filed under: Analyst Calls Tagged: ALKS, AMP, BWA, CLB, CSCO, DD, GTIV, HIG, JASO, JPM, JWN, NSC, ORCL, PFE, STP, TSL, UAL

Top 6 Analyst Calls of the Week (ALKS, APO, DF, ETFC, PNSN, SPWRA)

Administrator — Sat, 14 May 2011 14:16:45 +0000

Each morning during the week we publish the top analyst upgrades and downgrades that we see in the market. After looking deeper through the calls individually, there are always some critical research notes that are either very insightful or that have very peculiar observations or that have extreme price target objectives. This week we identified six such research calls from analysts. Those calls were in shares of Alkermes, Inc. (NASDAQ: ALKS), Apollo Global Management, LLC (NYSE: APO), Dean Foods Co. (NYSE: DF), E*TRADE Financial Corporation (NASDAQ: ETFC), Penson Worldwide Inc (NASDAQ: PNSN), and in SunPower Corporation (NASDAQ: SPWRA).

Alkermes, Inc. (NASDAQ: ALKS) had a game-changing week after it is now going to be profit-oriented after its ELAN Corp. plc (NYSE: ELN) deal was announced this week. We have seen analysts chime in about what this means. Cowen raised it to Outperform and Leerink Swann raised it to Outperform. We expect more positive calls next week as it reports earnings. The close the prior Friday was $14.47 and the close this Friday was $17.76 after closing up each day of the week. Our more detailed analysis is available at BioHealthInvestor.com.

Apollo Global Management, LLC (NYSE: APO) has been public for just over a month and its quiet period ended for research analysts. This was trading under its IPO price yet all but only one analyst at Wells Fargo was cautious with a “Market Perform” rating. All of the other calls were “Buy/Outperform/Overweight.” The initial move went from $17.97 the prior Friday and then the shares (units) rose to $18.50 on Monday and then to $18.71 by Tuesday. Unfortunately, shares closed at $18.27 on Friday so this remains a pressured IPO.

Dean Foods Co. (NYSE: DF) was raised to “Buy” at Goldman Sachs on Friday after earnings this week. More importantly, Goldman Sachs said that Dean Foods could actually double over the next two years. What makes this call stand out even more is Dean Foods has already almost doubled from its lows of the last year. In 2007, this milk and dairy company’s stock traded north of $40.00. The stock closed at $13.41 this week after earnings, up more than 20% from the close of $10.97 the prior Friday.

E*TRADE Financial Corporation (NASDAQ: ETFC) was given two calls in its favor this week. The turnaround online broker raised to Buy at Goldman Sachs with a $19 price target early this week. Then came another upgrade to “Strong Buy” from “Outperform” at Raymond James. These calls fit in a bit with our take that goes back to last year and even in 2009… E*TRADE will be acquired. Now its turnaround is finally producing positive earnings and the company’s writedowns and charge-offs are getting to the point where there is a light at the end of the tunnel. That light does not even look like it is a freight train. These calls had limited price impact as the close a week earlier was $15.92 and the close on this Friday was $16.06.

Penson Worldwide Inc (NASDAQ: PNSN) got what will feel like a very bad call this week. One analyst downgrade came from Sandler O’Neill maintaining a “Hold” rating but cutting the target to $4.50 from $5.50. It could be inferred that the research call started the move when shares were getting clobbered this last week, but our take is that the call exacerbated the move on issues tied to charges on a municipal bond issue. Whether the call was the catalyst or just an accelerating factor is arguable as the issue has been there before, but the move was extreme. Shares were at $5.35 the Friday before, and the stock hit a low of $2.73 before the company issued clarification news. The good news is that shares had recovered to $3.34 by Friday’s close, making a recovery bounce of some 22%. We’ll have to see if other firms can support the company this coming week.

SunPower Corporation (NASDAQ: SPWRA) was supposed to be a game-changing stake as a near-merger with Total when that stake was recently taken. That created a move up from about $16 to $21 when it came about. At the end of the week we saw two very negative calls … SunPower was maintained as “Sell” at Auriga and it was downgraded to “Hold” at ThinkEquity. Instead of rising, SunPower had a stagnant week. It closed at $21.41 a week earlier and closed at $21.23 for roughly a 1% loss this last week.

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

JON C. OGG

Filed under: Analyst Calls, The Week Tagged: ALKS, APO, DF, ETFC, PNSN, SPWRA

Top Earnings Previews For The Week Ahead (JCP, LOW, URBN, DELL, HD, SKS, TJX, TSL, WMT, ALKS, BJ, DE, DDS, HPQ, PAAS, SPLS, TGT, ADSK, DLTR, GME, MPEL, CRM, SHLD, YGE)

Administrator — Fri, 13 May 2011 18:01:50 +0000

It may seem like corporate earnings season is just about over, but next week we have a flurry of reports with some tech and a monster amount of retail companies. We have compiled earnings previews for more than twenty key companies. Our detailed previews are for the following companies: J. C. Penney Company, Inc. (NYSE: JCP); Lowe’s Companies Inc. (NYSE: LOW); Urban Outfitters Inc. (NASDAQ: URBN); Dell Inc. (NASDAQ: DELL); The Home Depot, Inc. (NYSE: HD); Saks Incorporated (NYSE: SKS); The TJX Companies, Inc. (NYSE: TJX); Trina Solar Ltd. (NYSE: TSL); Wal-Mart Stores Inc. (NYSE: WMT); Alkermes, Inc. (NASDAQ: ALKS); BJ’s Wholesale Club Inc. (NYSE: BJ); Deere & Company (NYSE: DE); Dillard’s Inc. (NYSE: DDS); Hewlett-Packard Company (NYSE: HPQ); Pan American Silver Corp. (NASDAQ: PAAS); Staples, Inc. (NASDAQ: SPLS); Target Corporation (NYSE: TGT); Autodesk, Inc. (NASDAQ: ADSK); Dollar Tree, Inc. (NASDAQ: DLTR); GameStop Corporation (NYSE: GME); Melco Crown Entertainment Ltd. (NASDAQ: MPEL); Salesforce.com (NYSE: CRM); Sears Holdings Corporation (NASDAQ: SHLD); and Yingli Green Energy Holding Co. Ltd. (NYSE: YGE).

We have compiled more detailed previews on each. Included are the consensus estimates from Thomson Reuters, current price data and trends of late, and also color on each if appropriate.

J. C. Penney Company, Inc. (NYSE: JCP) is due Monday with earnings. Thomson Reuters has estimates of $0.25 EPS and $3.95 billion in revenues; next quarter estimates are $0.21 EPS and $4.00 billion in revenues. With shares around $38.301, its 52-week trading range is $19.42 to $39.73.

Lowe’s Companies Inc. (NYSE: LOW) is due to report on Monday and will act as the preview for Home Depot this week as well. With all of the lagging home sales, investors are going to want to know if the prior guidance can be lived up to or not. Thomson Reuters has estimates of $0.37 EPS and $12.56 billion in revenues; next quarter estimates are $0.68 EPS and $14.82 billion in revenues. With shares around $25.65, its 52-week trading range is $19.35 to $27.45.

Urban Outfitters Inc. (NASDAQ: URBN) is due Monday afternoon. Thomson Reuters has estimates of $0.25 EPS and $522.05 million in revenues; next quarter estimates are $0.39 EPS and $613.67 million in revenues. With shares around $33.10, its 52-week trading range is $29.03 to $39.26.

Dell Inc. (NASDAQ: DELL) is due Tuesday after the close and may act at least as a mini-preview for H-P later in the week. Thomson Reuters has estimates of $0.43 EPS and $15.4 billion in revenues; next quarter estimates are $0.44 EPS and $16.04 billion in revenues. With shares around $16.50, its 52-week trading range is $11.34 to $16.80. The big question is whether or not investors can convince themselves that even if Dell is slow that it is worth buying on a valuation perspective now that shares are close to a 52-week high.

The Home Depot, Inc. (NYSE: HD) is due Tuesday morning and just like Lowe’s will be a sign of what the future of housing is for the secondary and repair market. Thomson Reuters has estimates of $0.50 EPS and $17.03 billion in revenues; next quarter estimates are $0.83 EPS and $19.98 billion in revenues. With shares around $36.90, its 52-week trading range is $26.62 to $39.38.

Saks Incorporated (NYSE: SKS) reports on Tuesday and the turnaround continues. Thomson Reuters has estimates of $0.16 EPS and $731.95 million in revenues; next quarter estimates are -$0.13 EPS and $617.21 million in revenues. With shares around $11.50, its 52-week trading range is $6.60 to $12.97.

The TJX Companies, Inc. (NYSE: TJX) reports on Tuesday and its shares just hit a new high on Friday as it continues to fire on all cylinders. Thomson Reuters has estimates of $0.81 EPS and $5.17 billion in revenues; next quarter estimates are $0.84 EPS and $5.34 billion in revenues. With shares around $54.50, its new 52-week trading range is $39.56 to $54.94.

Filed under: Calendar, Earnings, Retail, The Week Tagged: ADSK, ALKS, BJ, CRM, DDS, DE, DELL, DLTR, GME, HD, HPQ, JCP, LOW, MPEL, PAAS, SHLD, SKS, SPLS, TGT, TJX, TSL, URBN, WMT, YGE

Top Analyst Upgrades & Downgrades (ALKS, AEO, ADM, BHP, CSCO, DOW, GBL, ITW, JNY, MRK, PHG, DGX, RGS, RIO, SKS, TSN, VIA-B)

Administrator — Tue, 10 May 2011 12:30:59 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Tuesday morning.

Alkermes, Inc. (NASDAQ: ALKS) Raised to Outperform at Leerink Swann.
American Eagle Outfitters, Inc. (NYSE: AEO) Cut to Neutral at Janney.
Archer Daniels Midland Company (NYSE: ADM) Cut to Underperform at BofA/ML.
BHP Billiton Ltd. (NYSE: BHP) Started as Buy at RBS.
Cisco Systems, Inc. (NASDAQ: CSCO) Started as Buy at boutique firm BGC Financial.
The Dow Chemical Company (NYSE: DOW) Maintained Strong Buy as Value at Zacks.
GAMCO Investors, Inc. (NYSE: GBL) Raised to Buy at BofA/ML.
Illinois Tool Works (NYSE: ITW) Raised to Outperform as Bull of the Day at Zacks.
The Jones Group Inc. (NYSE: JNY) Cut to Sell at Goldman Sachs.
Merck & Co. Inc. (NYSE: MRK) Reiterated Buy and $41 target at Argus.
Philips Electronics NV (NYSE: PHG) Cut to Neutral at JPMorgan.
Quest Diagnostics, Inc. (NYSE: DGX) reiterated Outperform but on Focus List at Credit Suisse.
Regis Corporation (NYSE: RGS) Kept at Underperform as Bear of the Day at Zacks.
Rio Tinto plc (NYSE: RIO) Started as Buy at RBS.
Saks Incorporated (NYSE: SKS) Raised to Neutral from Sell at Goldman Sachs.
Tyson Foods Inc. (NYSE: TSN) Cut to Underperform at BofA/ML.
Viacom, Inc. (NYSE: VIA-B) Raised to Buy at Argus.

JON C. OGG

Filed under: Analyst Calls Tagged: ADM, AEO, ALKS, BHP, CSCO, DGX, DOW, GBL, ITW, JNY, MRK, PHG, RGS, RIO, SKS, TSN, VIA-B

Top Analyst Upgrades & Downgrades (AFL, ALKS, AMLN, GD, GNW, HGSI, IPI, MGM, SNDK, SHAW, VRTX)

Administrator — Tue, 08 Feb 2011 13:20:57 +0000

These are some of this Tuesday’s top analyst calls with upgrades, downgrades, and initiations seen from Wall Street research firms.

AFLAC Inc. (NYSE: AFL) Cut to Hold at Citigroup.
Alkermes, Inc. (NASDAQ: ALKS) Started as Neutral at Goldman Sachs.
Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN) Started as Sell at Goldman Sachs.
General Dynamics Corporation (NYSE: GD) Raised to Buy at Argus.
Genworth Financial Inc. (NYSE: GNW) Cut to Underperform at BofA/ML.
Human Genome Sciences, Inc. (NASDAQ: HGSI) Started as Neutral at Goldman Sachs.
Intrepid Potash, Inc. (NYSE: IPI) Raised to Neutral at BofA/ML.
MGM Resorts International (NYSE: MGM) Raised to Buy at BofA/ML.
SanDisk Corporation (NASDAQ: SNDK) Raised to Buy at Sterne Agee.
The Shaw Group Inc. (NYSE: SHAW) Raised to Buy at UBS.
Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) Started as Buy at Goldman Sachs.

JON C. OGG

Filed under: Analyst Calls Tagged: AFL, ALKS, AMLN, GD, GNW, HGSI, IPI, MGM, SHAW, SNDK, VRTX

Today’s Must Watch Stock Alerts (ABK, AMLN, LLY, ALKS, BAC, CTIC, CREE, DEAR, FSII, ISRG)

Administrator — Wed, 20 Oct 2010 12:55:01 +0000

Active traders and day traders have many stocks to choose from this Wednesday morning. We are tracking news and moves in shares of Some of the most active stocks or largest moves seen in shares Ambac Financial Group, Inc. (NYSE: ABK), Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN), Eli Lilly & Co. (NYSE: LLY), Alkermes, Inc. (NASDAQ: ALKS), Bank of America Corporation (NYSE: BAC), Cell Therapeutics, Inc. (NASDAQ: CTIC), Cree Inc. (NASDAQ: CREE), Dearborn Bancorp Inc. (NASDAQ: DEAR), FSI International Inc. (NASDAQ: FSII), and Intuitive Surgical, Inc. (NASDAQ: ISRG).

Ambac Financial Group, Inc. (NYSE: ABK) is seeing a bit of a pop this morning after yesterday’s late-afternoon stock surge after BofA is being sued for mortgage put-backs. Shares went from about $0.90 to $1.14 yesterday and the stock is up almost 3% this morning at $1.17. Be advised that yesterday’s $1.15 was the highest level seen yet since the mortgage and foreclosure scandals hit last week.

Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN) is down by almost half; partners Eli Lilly & Co. (NYSE: LLY) is down 4% at $35.88 and Alkermes, Inc. (NASDAQ: ALKS) is down 25% at $10.75. FULL NEWS at BioHealthInvestor.com.

Bank of America Corporation (NYSE: BAC) is down on further mortgage loss concerns via put-back clauses and after an analyst downgrade this morning. Shares are down 1.7% at $11.60, and that will mark a 52-week low versus the prior year range of $11.71 to $19.86.

Cell Therapeutics, Inc. (NASDAQ: CTIC) is down 7.7% at $0.41 after it raised $21 million via the sale of preferred stock and warrants.

Cree Inc. (NASDAQ: CREE) managed impressive growth year over year but that is slowing rapidly and the guidance was soft again. Shares are down 9.5% at $47.99 and the 52-week trading range is $40.50 to $83.38.

Dearborn Bancorp Inc. (NASDAQ: DEAR) is yet again proving to be extremely volatile after earnings. The Michigan-based regional bank is trading up 40% at $2.45 on relatively thin volume.

FSI International Inc. (NASDAQ: FSII) is down after forecasting a revenue shortfall for the quarter. Shares are down 12% at $2.70 versus a 52-week trading range of $1.00 to $5.17.

Intuitive Surgical, Inc. (NASDAQ: ISRG) reported a 34% profit gain but shares are down on revenue and guidance. The stock is down 5% at $265.00 on over 13,000 shares.

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

Filed under: Pre-Market Activity, Trading Alert Tagged: ABK, ALKS, AMLN, BAC, CREE, CTIC, DEAR, FSII, ISRG, LLY

Top Analyst Upgrades and Downgrades (AGU, ALKS, ANN, APOL, PLCE, DHI, F, GHL, JPM, MSFT, MGM, PHM, STX, VOD)

Administrator — Thu, 14 Oct 2010 12:15:27 +0000

These are some of this Thursday’s key analyst upgrades, downgrades, and initiations seen in Wall Street research calls.

Agrium Inc. (NYSE: AGU) Removed from TD’s Action Buy List but target raised to $105.
Alkermes, Inc. (NASDAQ: ALKS) Cut to Hold at Jefferies.
AnnTaylor Stores Corp. (NYSE: ANN) Cut to Hold at S&P Equity Research (late Wednesday call).
Apollo Group Inc. (NASDAQ: APOL) Cut to Hold at Stifel Nicolaus; Cut to Underperform at FBR.
The Children’s Place Retail Stores, Inc. (NASDAQ: PLCE) Cut to Neutral at Susquehanna.
D.R. Horton, Inc. (NYSE: DHI) Raised to Neutral at UBS.
Ford Motor Co. (NYSE: F) Raised to Buy at Deutsche Bank.
Greenhill & Co. (NYSE: GHL) Cut to Market Perform at KBW.
J.P. Morgan Chase & Co. (NYSE: JPM) Reiterated Outperform at FBR.
Microsoft Corporation (NASDAQ: MSFT) Target Cut to $28 from $30 at Barclays.
MGM Resorts International (NYSE: MGM) Raised to Outperform at BMO.
PulteGroup, Inc. (NYSE: PHM) Raised to Neutral at UBS.
Seagate Technology plc (NASDAQ: STX) Started as Hold at ThinkEquity (late Wednesday call).
Vodafone plc (NYSE: VOD) Raised to Buy at Nomura.

JON C. OGG

Filed under: Analyst Calls Tagged: AGU, ALKS, ANN, APOL, DHI, F, GHL, JPM, MGM, MSFT, PHM, PLCE, STX, VOD

Top Active Trader Alert Stocks (ALU, ALKS, CLWR, CSX, DRYS, INTC, JPM, LLTC, MXIM, MGM, NLST, PLAB)

Administrator — Wed, 13 Oct 2010 12:49:28 +0000

Active traders and day traders have many stocks to choose from this Wednesday morning. We are tracking news and moves in shares of Some of the most active stocks or largest moves seen in shares of Alcatel-Lucent (NYSE: ALU), Alkermes, Inc. (NASDAQ: ALKS), Clearwire Corporation (NASDAQ: CLWR), CSX Corp. (NYSE: CSX), DryShips, Inc. (NASDAQ: DRYS), Intel Corporation (NASDAQ: INTC), JPMorgan Chase & Co. (NYSE: JPM), Linear Technology Corp. (NASDAQ: LLTC), Maxim Integrated Products Inc. (NASDAQ: MXIM), MGM Resorts International (NYSE: MGM), Netlist Inc. (NASDAQ: NLST), and Photronics, Inc. (NASDAQ: PLAB).

Alcatel-Lucent (NYSE: ALU) is trading up after Jefferies raised its rating to BUY this morning. Shares are up 3% at $3.72 in active pre-market trading.

Alkermes, Inc. (NASDAQ: ALKS) is higher after the FDA granted wider approval of its Vivitrol for the treatment of opioid addiction. Shares are up 2.2% at $16.02.

Clearwire Corporation (NASDAQ: CLWR) is higher on reports that it may seek to get up to $5 billion for part of a spectrum sale. Shares are up 9.6% at $7.40 in the pre-market.

CSX Corp. (NYSE: CSX) is higher after beating earnings expectations. Shares are up 4.3% at $59.75 versus a 52-week range of $41.81 to $62.00.

DryShips, Inc. (NASDAQ: DRYS) is trading higher this morning with some transport names and shares are up 2.6% at $4.69 on more than 100,000 shares.

Intel Corporation (NASDAQ: INTC) is trading higher after beating earnings and issuing guidance that was above the estimates at the mid-point. Shares are up 1.3% at $20.02 in active trading.

J.P. Morgan Chase & Co. (NYSE: JPM) posted $1.01 EPS versus estimates of close to $0.90 EPS despite some problems still existing in many areas. Shares are up 1.5% at $41.01 so far, but we all know bank earnings can go either way throughout the day.

Linear Technology Corp. (NASDAQ: LLTC) had what appears to be light earnings and light guidance ahead. Shares are down almost 4% at $30.30. We would watch Maxim Integrated Products Inc. (NASDAQ: MXIM) on the news as these two are often considered each others closest peers.

MGM Resorts International (NYSE: MGM) is lower on word that Kirk Kerkorian will sell shares now that Las Vegas is recovering. Shares are down 6.1% at $12.78 on more than 2 million shares.

Netlist Inc. (NASDAQ: NLST) is higher after it was awarded a patent for its proprietary Planar-X technology. Shares of the cult stock are up 3.2% at $3.51.

Photronics, Inc. (NASDAQ: PLAB) may have just been a pre-market trade that was ‘hit at market’ because it still has a wide bid-ask spread. Shares are listed as being up nearly 7% at $6.20, but most of the prior trades were $6.00 to $6.14.

JON C. OGG

Filed under: Pre-Market Activity, Trading Alert Tagged: ALKS, ALU, CLWR, CSX, DRYS, INTC, JPM, LLTC, MGM, MXIM, NLST, PLAB