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Against the Grain: Mid-Day Movers (KIPS, BFLY, GR, GEDU, CVOL, EDZ, VALV, MNTA, JKS, AMBT, EDC)

Administrator — Mon, 19 Sep 2011 16:06:35 +0000

The DJIA was down about -230 points at mid-morning and now that the European markets have closed the DJIA is down “only” about -175 points. Continuing concerns about Greek debt and worries about European sovereign debt are leading the day’s concerns. Here’s a look at several of the big movers — in both directions. First, the contrarians… You just have to love the big winners on a down day:

Kips Bay Medical, Inc. (NASDAQ: KIPS) is up nearly 22%. The company is developing a new device for use in coronary artery bypass grafts. The share price rise doesn’t appear to be attributable to any specific news from or about the company.

Bluefly Inc. (NASDAQ: BFLY) is an e-commerce retailer of men’s and women’s designer clothes and eyewear. Shares are up more than 13% this morning as the stock continues to benefit from a large share purchase last week by investor George Soros.

Goodrich Corp. (NYSE: GR) is up more than 11% on continuing speculation that the company would be acquired by United Technologies Corp. (NYSE: UTX) in a $17 billion takeover. Goodrich is a supplier of aircraft parts and services, and its aftermarket business is strengthening.

Global Education & Technology Group Ltd. (NASDAQ: GEDU) shares are up more than 12% this morning. The company provides foreign language training and test preparation services in China. The company’s CFO resigned in late August.

C-Tracks Citi Volatility Index Total Return ETN (NYSE: CVOL) is up nearly 14% this morning. The fund is a directional measure of the implied volatility of US large-cap stocks.

Direxion Daily Emerging Markets Bear 3X ETF (NYSE: EDZ) is up about 12% this morning. The fund is a triple-leveraged play on the opposite price-performance of the MSCI Emerging Markets Index.

The stocks leading the downturn:

Shengkai Innovations Inc. (NASDAQ: VALV) is down more than -40% this morning on last week’s announcement that the company was re-directing its business away from its traditional markets and attempting to secure new business in the oil and chemical markets. Some investors have raised concerns over the company’s accounting practices, a particular problem for many Chinese companies recently. The stock has already traded more than 4x its average daily volume.

Momenta Pharmaceuticals, Inc. (NASDAQ: MNTA) is down more than -25% as the company has been unable to prevent its stock from falling below technical support levels. So far today about 3x normal daily volume has been traded.

JinkoSolar Holding Co. Ltd. (NYSE: JKS) is down more than -22% after being forced to close a factory that has been accused of polluting a nearby river. The company’s shares also received two new downgrades this morning. So far today volume is about 3x normal.

Ambient Corp. (NASDAQ: AMBT) shares are down more than -15%. The company provides smart grid communications software and platforms. There’s no particular news, but investment in smart grid projects is likely to stall as the US economy remains weak.

GT Advanced Technologies, Inc. (NASDAQ: GTAT) shares are down nearly -10% as the entire solar sector continues to get pounded. Customers for GT’s semi-conductor making equipment are not expected to keep placing orders for more as the market for solar PV panels continues to be oversupplied.

The Direxion Emerging Markets Bull 3X ETF (NYSE: EDC) is off nearly -10%, as it is expected to perform in exactly the opposite direction of the 3X bear fund we noted earlier.

Paul Ausick

Filed under: HI/LOW, Trading Alert Tagged: AMBT, BFLY, CVOL, EDC, EDZ, GEDU, GR, JKS, KIPS, MNTA, VALV

Stocks That Missed Out Thursday’s Rally (BFLY, BGG, CEF, COGO, LTRE, LNET, NKA, OTEX, OXGN, SAPX, SLW, SODA)

Administrator — Thu, 11 Aug 2011 18:56:00 +0000

The stock market is getting yet another huge bounce today and the gain in the DJIA currently is up 377 points at 11,097 and change… The NASDAQ is up literally almost 100 points at 2,480.50. Even on bad days some stocks win, and on some great days there are almost always some big losers. Thursday’s stocks that have missed out on the big rally are as follows:

Bluefly Inc. (NASDAQ: BFLY) tanked after earnings and volume is explosive at more than 7-times normal trading. Oddly, that ‘explosive volume’ is only 24,408 shares…. This one is down almost 16% at $1.65… A Soros stock!

Briggs & Stratton Corporation (NYSE: BGG) is down over 13% at $12.99 on more than 4.5 million shares after the company’s earnings turned into losses. So much for air cooled gasoline engines for outdoor power equipment worldwide.

The Central Fund of Canada Limited (AMEX: CEF) is a closed-end commodity fund that invests in commodities. You rarely see this sort of move, but the fund is down 4.6% at $23.36. The fund’s site says that it is “The Sound Monetary Fund” and its purpose is “to hold gold and silver bullion on a secure basis for the convenience of investors in the shares of Central Fund.” When stocks rally as gold and silver tank, adios Mr. Morose.

Cogo Group, Inc. (NASDAQ: COGO) is down like it sells the next dangerous Pogo-stick. This is after filing its quarterly report yesterday with the SEC after last week’s earnings. Shares are down 10% at $2.49 on double the normal volume already as 1.13 million shares have traded hands.

Learning Tree International Inc. (NASDAQ: LTRE) is apparently called the Idiot Tree because higher costs hurt earnings. This one is down almost 15% at $8.06, but the volume is puny at not even 13,000 shares in mind-day trading.

LodgeNet Interactive Corporation (NASDAQ: LNET) gave back its gains from yesterday that were on the heels of its extension with Starwood. Shares are down 10.5% at $1.995 on almost 200,000 shares.

Niska Gas Storage Partners LLC (NYSE: NKA) was absolutely pounded after earnings. The natural gas storage assets partnership is down 18.5% at $11.96 and shares hit a 52-week low of $10.95 today.

Open Text Corp. (NASDAQ: OTEX) is facing a closed-book apparently. The enterprise content management solutions provider missed earnings expectations after the close yesterday and the stock is down 9.3% at $52.14 on 13-times normal volume as the 52-week range is $36.11 to $72.32.

OXiGENE, Inc. (NASDAQ: OXGN) is taking it on the chin with a 10.6% drop to $1.43 on more than 400,000 shares. Last night it reported a net loss for the quarter of $2.9 million versus net income of $2.5 million for the same three-month period of 2010.

Seven Arts Pictures PLC (NASDAQ: SAPX) is one of the worst performers and it has been a very volatile low-priced stock that has been popular with day traders and chat rooms. Shares are down about 16% at $0.85 on about 1 million shares.

Silver Wheaton Corp. (NYSE: SLW) is down marginally as silver and gold have been whacked hard. This one is leveraged per traders with silver and shares are down 0.3% at $36.69 versus a 52-week range of $19.06 to $47.60. By the way, the AMEX-listed ‘losers’ list is littered with speculative miners but this one is not as speculative as others.

SodaStream International Ltd. (NASDAQ: SODA) has been pounded after earnings and shares are down a whopping 33% at $45.50… So much for the great growth opportunity! Is this the next Sharper Image debacle?

JON C. OGG

Filed under: HI/LOW, The Day, Trading Alert Tagged: BFLY, BGG, CEF, COGO, LNET, LTRE, NKA, OTEX, OXGN, SAPX, SLW, SODA

George Soros Top Equity Holdings (AAPL, AUXL, BFLY, CBI, CMG, CRUS, COV, MAPP, POT, SVNT)

247wallst — Sat, 16 Feb 2008 09:17:55 +0000

This week we got to see critical SEC filings showing holdings of many key and influential investors. Included in these filings were billionaire George Soros, a billionaire whom is loved by some and much less ‘well thought of’ by others over his currency trading history of over his MoveOn.org attempts. Either way, investors still watch Soros. These are the holdings of Soros Fund Management LLC as of December 31, 2007. These were listed as the top holdings and are not at all his entire positions. Soros Fund Management LLC was listed as having some $2.269 Billion in the total filing, and these positions here only equate to $360+ million, so there are many more positions. As with all of these holdings, these positions may have changed or been eliminated as of the dates noted. Here is a summary of his larger positions with a dollar amount provided by Soros as filer and a share count:

Apple Inc. (NASDAQ: AAPL) $32,000,000; 161,550 shares
Auxilium Pharma (NASDAQ: AUXL) $36,473,000; 1,216,180 shares
Bluefly Inc. (NASDAQ: BFLY) $36,451,000; 48,601,156 shares… an old favorite of his…
Chicago Bridge & Iron Co. (NYSE: CBI) $29,743,000; 492,100 shares
Chipotle Mexican Grill, Inc. (NYSE: CMG) $32,404,000; 220,332 shares
Cirrus Logic Inc. (NASDAQ: CRUS) $24,376,000; 4,616,666 shares
Covidien, Ltd. (NYSE: COV) $32,194,000; 726,900 shares
MAP Pharmaceuticals (NASDAQ: MAPP) $71,374,000; 4,076,169
Potash Corp. (NYSE: POT) $37,933,000; 263,500 shares
Savient Pharmaceuticals (NASDAQ: SVNT) $25,002,000; 1,088,461 shares

As Soros himself says …."Contrary to the tenets of market fundamentalism, financial markets do not tend towards equilibrium; they are crisis prone."

Other billionaires and their holdings filed this week:
Bill Gates
Carl Icahn
Warren Buffett

Jon C. Ogg
February 16, 2008