Today’s Big Movers (AATI, PCX, CSIQ, JASO, TSL)
On a day when all the major indexes closed up more than 3.5% on strong buying action, there are several stocks that made gains that are even larger. These big movers include Advanced Analogics Technologies Inc. (NASDAQ: AATI), Patriot Coal…
On a day when all the major indexes closed up more than 3.5% on strong buying action, there are several stocks that made gains that are even larger. These big movers include Advanced Analogics Technologies Inc. (NASDAQ: AATI), Patriot Coal Corp. (NYSE: PCX), Canadian Solar Inc. (NASDAQ: CSIQ), JA Solar Holdings Co. Ltd. (NASDAQ: JASO), and Trina Solar Ltd. (NYSE: TSL).
Advanced Analogics has accepted a $258.6 million buyout offer from Skyworks Solutions Inc. (NASDAQ: SWKS). Advanced Analogics closed at $5.75, up more than 32%, on more than 10 times normal volume. The stock’s 52-week trading range is $3.25-$6.10.
Patriot Coal rose nearly 20%, to $10.38 on heavier than normal volume of 9.23 million shares traded. There was no particular news, but coal companies in general have been beaten up badly in the past 12 months and today’s move puts Patriot’s shares back up near the middle of its 52-week trading range of $6.92-$29.20.
JA Solar is up more than 18%, at $1.82, in a 52-week range of $1.40-$8.57. Volume was essentially normal. Solar makers’ shares have been beaten up at least as badly as coal miners, and Chinese solar makers have fared worst. But the understanding that a shakeout is coming, especially in China, boosted shares of several of the better positioned Chinese solar makers today.
Canadian Solar is up 16.6%, at $2.95, in a 52-week range of $2.07-$16.79. Volume was double the daily average. Trina Solar is up nearly 16%, to $8.00, in a 52-week range of $5.28-$31.08. Volume was slightly lower than the daily average. Both stocks basked in today’s halo effect over solar stocks.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.