24/7 Wall St. » ECYT

24/7 Wall St. Closing Bell (GE, JNPR, VOD, CVX, APC, ES, FXCM, GSL, MCS, ANAC, HMNY, ECYT, SCLN, PSUN, GWRE, PATH, FSS, STRL)

Paul Ausick — Wed, 14 Mar 2012 20:08:03 +0000

Stocks opened modestly higher this morning and have wiggled around the neutral line all day. No significant news came out that would have influenced market action much one way or another. The dollar index gathered strength all day, though, and is up 0.47% to 80.567. The stronger dollar pushed down commodities prices, with crude oil closing lower for the first time in about a month. WTI crude closed down -1.2% at $105.43/barrel and Brent crude is trading down -0.86% at $125.14/barrel. Gold settled at $1,642.90/ounce, down 3%, in the yellow metal’s worst showing in two months.

The unofficial closing bells put the DJIA up about 16 points to 13,194.10(0.12%), the NASDAQ rose less than 1 point (0.03%) to 3,040.73, and the S&P 500 fell -0.12% or about 2 points to 1,394.28.

There were several analyst upgrades and downgrades today, including General Electric Co. (NYSE: GE) maintained as ‘outperform’ at Credit Suisse; Juniper Networks Inc. (NYSE: JNPR) cut to ‘market perform’ at BMO; Vodafone Group plc (NASDAQ: VOD) cut to ‘underperform’ at BNP Paribus; Chevron Corp. (NYSE: CVX) maintained as ‘outperform’ but estimates lowered at Credit Suisse; and Anadarko Petroleum Corp. (NYSE: APC) raised to ‘buy’ at Stifel Nicolaus.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Energy Solutions Inc. (NYSE: ES) is up 2% at $4.54; FXCM Inc. (NYSE: FXCM) is up 10% at $11.55; Global Ship Lease Inc. (NYSE: GSL) is down -7.3% at $3.18; Marcus Corp. (NYSE: MCS) is down -1.5% at $12.31; and Anacor Pharmaceuticals Inc. (NASDAQ: ANAC) is up 2.5% at $5.73.

Other standouts from today include the following stocks:

Helios & Matheson Information Technology Inc. (NASDAQ: HMNY) is up more than 87% at $5.33 after posting a new 52-week high of $7.00 earlier today. The business software company posted a surprise profit for fiscal 2011.

Endocyte Inc. (NASDAQ: ECYT) is up nearly 58% at $5.87. The drug maker posted better-than-expected quarterly and annual results last night.

SciClone Pharmaceuticals Inc. (NASDAQ: SCLN) is up about 22% at $6.39 after posting a new 52-week high of $6.97 earlier. The biopharmaceutical company beat estimates and provided a strong outlook for 2012.

Pacific Sunwear of California Inc. (NASDAQ: PSUN) is down nearly -18% at $2.06. The apparel maker posted a larger than expected loss last night. More coverage here.

Guidewire Software Inc. (NYSE: GWRE) is up more than 17% at $30.09 after posting a new 52-week high of $32.79 earlier today. The business software company announced a new contract this morning.

NuPathe Inc. (NASDAQ: PATH) is up nearly 20% at $3.91. The biotechnology company’s transdermal patch for migraine sufferers got a strong review from a financial web site today.

Federal Signal Corp. (NYSE: FSS) is up more than 22% at $5.61. The specialty truck maker posted better-than-expected revenues this morning.

Sterling Construction Co. Inc. (NASDAQ: STRL) is down more than -16% at $8.58 after posting a new 52-week low of $8.57 earlier today. The construction firm posted an unexpectedly weak earnings report this morning.

Stay tuned for Thursday. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – New US unemployment benefits claims
8:30 a.m. – Producer price index
8:30 a.m. – Empire State manufacturing index
9:00 a.m. – Treasury International Capital (TIC) report
10:00 a.m. – Philadelphia Fed survey
10:30 a.m. – EIA weekly natural gas storage report
4:30 p.m. – Federal Reserve balance sheet and money supply

Paul Ausick

Filed under: Active Trader, Market Close, Market Roundups Tagged: ANAC, APC, CVX, ECYT, ES, FSS, FXCM, GE, GSL, GWRE, HMNY, JNPR, MCS, PATH, PSUN, SCLN, STRL, VOD

Morning Movers (HMNY, ECYT, SCLN, PSUN, EONC)

Paul Ausick — Wed, 14 Mar 2012 15:05:59 +0000

The three major US equities indexes opened slightly higher this morning as investors react to the results of the bank stress tests reported late yesterday. Fed Chairman Ben Bernanke is giving a speech this morning, but it’s on videotape and contains no surprises (more coverage here). The dollar is stronger today, up 0.23% this morning at 80.375. The DJIA is up about 41 points at around 13,219, the Nasdaq Composite is up about 9 points at around 3,049, and the S&P 500 is up about 2 points at around 1,398.

There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Helios & Matheson Information Technology Inc. (NASDAQ: HMNY), Endocyte Inc. (NASDAQ: ECYT), SciClone Pharmaceuticals Inc. (NASDAQ: SCLN), Pacific Sunwear of California Inc. (NASDAQ: PSUN), and eOn Communications Inc. (NASDAQ: EONC).

Helios & Matheson is up more than 129% at $6.53 after posting a new 52-week high of $7.00 earlier today. Volume is already more than 20x the daily average of about 7,000 shares traded. The business software company posted a surprise profit for fiscal 2011.

Endocyte is up nearly 38% at $5.13. Volume is already more than 4x the daily average of about 614,000 shares traded. The drug maker posted better-than-expected quarterly and annual results last night.

SciClone is up about 29% at $6.75 after posting a new 52-week high of $6/97 earlier. Volume is already more than 10x the daily average of around 192,000 shares traded. The biopharmaceutical company beat estimates and provided a strong outlook for 2012.

Pacific Sunwear is down more than -14% at $2.15. Volume is already about double the daily average of around 500,000 shares traded. The apparel maker posted a larger than expected loss last night.

eOn Communications is down nearly -18% at $1.39. Volume is already higher than the daily average of around 65,000 shares traded. The telecom company posted poor earnings last night.

Paul Ausick

Filed under: Active Trader, Market Open, Market Roundups Tagged: ECYT, EONC, HMNY, PSUN, SCLN

24/7 Wall St. Closing Bell (INTC, KALU, NOR, MA, V, BBY, FDS, FCEL, PTRY, MILL, LIVE, SYNO, RVSN, ECYT, IVN, GMCR, FST)

Paul Ausick — Tue, 13 Dec 2011 21:09:38 +0000

Stocks opened firmly higher this morning and the DJIA rose by more than 130 points in the first hour of trading. The dollar gained strength against the euro putting more enthusiasm into the market. Investors were also hoping that the Fed would indicate that a new round of quantitative easing would be available instantly if necessary. That didn’t work out however, and equities tumbled following the Fed’s mid-afternoon statement. Crude oil also rose on a threat from Iran to block the Strait of Hormuz. WTI crude is up more than 2%, at $99.81/barrel after topping $100 earlier in the day, and Brent crude is up 1.9% at 109.30/barrel. Gold is down nearly -2%, at $1,636.90.

The unofficial closing bells put the DJIA down more than 66 points to 11,954.94 (-0.55%), the NASDAQ fell nearly 33 points (-1.26%) to 2,579.27, and the S&P 500 fell -0.87% or nearly 11 points to 1,225.73.

There were several analyst upgrades and downgrades today, including Intel Corp. (NASDAQ: INTC) maintained ‘outperform’ but estimates cut at Credit Suisse and maintained ‘hold’ with a $24 price target at Canaccord Genuity. Other ratings actions today include Kaiser Aluminum Corp. (NASDAQ: KALU) started as ‘buy’ at BofA/Merrill Lynch; Noranda Aluminum Holding Corp. (NYSE: NOR) started as ‘buy’ at BofA/ML; Mastercard Inc. (NYSE: MA) and Visa Inc. (NYSE: V) both started as ‘buy’ at Nomura.

Here are today’s post-earnings news reactions with prices during the last half-hour of trading: Best Buy Co. Inc. (NYSE: BBY) is down more than -15.5% at $23.68 (more details here); FactSet Research Systems, Inc. (NYSE: FDS) is down more than -8% at $87.01; FuelCell Energy Inc. (NASDAQ: FCEL) is down more than -15% at $0.93; The Pantry Inc. (NASDAQ: PTRY) is down more than -12% at $10.41, after posting a new 52-week low earlier today of $9.52; and Miller Energy Resources, Inc. (NYSE: MILL) is down nearly -11% at $2.90.

Other standouts from today include the following stocks:

LiveDeal Inc. (NASDAQ: LIVE) is up more than 236%, at $4.88. The customer acquisition company issued 1.6 million shares of new stock, raising its capital by by $2 million and enabling it to meet Nasdaq listing requirements.

Synovis Life Technologies, Inc. (NASDAQ: SYNO) is up more than 50%, at $27.78. The medical device maker agreed to be acquired by Baxter International Inc. (NYSE: BAX) for $28/share, a 52% premium to the stock’s Monday closing price. The deal is worth $325 million.

RADVision Ltd. (NASDAQ: RVSN) is up more than 14%, at $9.62. The communications equipment maker is said to be an acquisition target for Avaya at a price of around $200 million.

Endocyte Inc. (NASDAQ: ECYT) is down more than -65%, at $3.56, a new 52-week low. The pharmaceutical maker announced that trials of a new cancer drug have not shown that the drug helps patients live longer.

Ivanhoe Mines Ltd. (NYSE: IVN) is down nearly -22%, at $16.16. The junior miner lost a court decision to Rio Tinto plc (NYSE: RIO) which essentially kills Ivanhoe’s poison pill plan. Rio owns 49% of Ivanhoe and can maintain that stake regardless of new share issuances until April 2013.

Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) is down more than -11%, at $50.03. The coffee merchant has lost some market share for its single-cup coffee products, and prices are also falling.

Forest Oil Corp. (NYSE: FST) is down nearly -13%, at $14.01. The oil & gas E&P company announced its outlook for 2012, and analysts were disappointed with the level of capital expenditures and cash flows.

Stay tuned for Wednesday. Dennis Lockhart, president of the Atlanta Federal Reserve Bank, is giving a speech in the morning. Here are some other noteworthy events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications
10:30 a.m. – EIA weekly petroleum status report
1:00 p.m. – 30-year Treasury bond auction

Paul Ausick

Filed under: Active Trader, HI/LOW, Market Close Tagged: BBY, ECYT, FCEL, FDS, FST, GMCR, INTC, IVN, KALU, LIVE, MA, MILL, NOR, PTRY, RVSN, SYNO, V

Top Active Trader Alert Stocks (AKAM, ASML, ECYT, LOGI)

Douglas A. McIntyre — Thu, 28 Jul 2011 12:50:52 +0000

Active traders and day traders have many stocks to choose from this Thursday morning. We are tracking news and moves in shares of Akamai Technologies, Inc. (NASDAQ: AKAM), ASML Holding N.V. (NASDAQ: ASML), Endocyte, Inc. (NASDAQ: ECYT), and Logitech International SA (NASDAQ: LOGI).

Akamai Technologies, Inc. (NASDAQ: AKAM) is down 15.6% premarket to $24.88, below its 52-week range of $28.69-$54.65. FBR capital lowered its price target on the company from $40.00 to $25.00.

ASML Holding N.V. (NASDAQ: ASML) is down 4% before market open to $35.77, relative to a 52-week range of $24.63-$45.92.

Endocyte, Inc. (NASDAQ: ECYT) is up more than 5% premarket to $12.90, relative to a 52-week range of $1.17-$3.23. The company announced a public offering of 5.8 million shares.

Logitech International SA (NASDAQ: LOGI) is down more than 8% before market open to $9.48, relative to a 52-week range of $9.62-$23.29. The company issued Q1 earnings under expectations and disappointing FY12 guidance.

Filed under: Active Trader, Pre-Market Activity, Trading Alert Tagged: AKAM, ASML, ECYT, LOGI