Six Unusual Hot Stocks on the Move Monday Morning
Stocks are indicated lower on Monday, with the S&P 500 futures down seven points at 1,867.50 and DJIA futures down 61 points around 16,386. Investors and traders alike are still looking for upside from the winners, and they want to avoid the losers. 24/7 Wall St. gives its daily analyst upgrades and downgrades, and Monday there were enough premarket movers that it triggered the equivalent of a day trader alert from the good old days.
Ariad Pharmaceuticals Inc. (NASDAQ: ARIA) rose 3% on Friday, and shares are up by another 3.5% on Monday morning to $7.48 after Jefferies raised its rating up to Buy from Hold.
Atlantic Power Corp. (NYSE: AT) had a 9% gain on Friday and shares are marginally higher on Monday morning after confirming, or reconfirming, that it is under a strategic options review with Goldman Sachs.
B/E Aerospace Inc. (NASDAQ: BEAV) put itself up for sale over the weekend, for a “strategic options” review with Citigroup. Shares are up almost 9% and above $96 — and Sterne Agee gave a sum-of-the-parts analysis for $121 per share. We pointed out over the weekend that the consensus price target was closer to $100.
CytRx Corp. (NASDAQ: CYTR) is on the move higher after reporting that it showed a significant increase in the median progression-free survival over data completed in Phase 1b/2 progression-free survival and overall survival Aldoxorubicin data in second-line soft tissue sarcoma. This is for ASCO and ESMO presentations. Shares were down 9% on Friday and are gaining much of that back on Monday morning.
Harsco Corp. (NYSE: HSC) is seeing a higher trading indication, although somewhat muted, on news in the Barron’s weekend print edition that the industrial is underappreciated and undervalued by 20% or so.
Sina Corp. (NASDAQ: SINA) is down on two pieces of data. Oppenheimer downgraded it to Perform, and the company was fined by China for indecent content. Sina shares are down 3.5% at $46.43, very close to a 52-week low of $46.25 and down about 50% from its 52-week high.