It looks as though none of this morning’s major day trader and active trader alerts are on raw earnings announcements. On the move are shares of American International Group Inc. (NYSE: AIG), Amgen Inc. (NASDAQ: AMGN), Apple Inc. (NASDAQ: AAPL), Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), Canadian Solar Inc. (NASDAQ: CSIQ), DivX, Inc. (NASDAQ: DIVX), Sonic Solutions (NASDAQ: SNIC), and Monsanto Co. (NYSE: MON).
American International Group Inc. (NYSE: AIG) was mostly known, but Prudential plc (NYSE” PUK) has confirmed that it is walking away from the $35.5 billion offer for AIG’s AIA; now AIG will have to consider a resale process with open bids or it will have to conduct an IPO of the unit to monetize its sale. AIG shares are up 0.8% at $34.50.
Amgen Inc. (NASDAQ: AMGN) may have a new blockbuster on its hands. The world’s largest biotech is trading up after it received FDA clearance for Prolia, its injectable bone strengthening drug. Shares are up 5.3% at $53.45 versus a 52-week range of $49.21 to $64.76.
Apple Inc. (NASDAQ: AAPL) is back to the speculators playing games. We ran down the volume yesterday, but it looks like over half of its implied trading volume equivalent is being used in speculative options for exposure rather than traders paying $260 per share.
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) is trading higher after it announced a notification of a tentative September 16th FDA Advisory Committee Meeting to review its lorcaserin for weight management. Shares are up 5.5% at $3.22 versus a 52-week range of $2.70 to $5.93.
Canadian Solar Inc. (NASDAQ: CSIQ) is seeing its shares hit hard this morning. The stock is down some 18% at $9.70, which is close enough to its 52-week low of $9.21. The shares are down because of an accounting investigation, which is not what any investors ever want to see.
DivX, Inc. (NASDAQ: DIVX) is being acquired in a stock and cash deal by Sonic Solutions (NASDAQ: SNIC). DivX holders would receive $3.75 in cash and 0.514 shares of Sonic common stock for each share of DivX they hold. DivX is up 29% at $9.01 versus a 52-week range of $4.76 to $8.90. Sonic Solutions (SNIC) is indicated lower but has yet to trade.
Monsanto Co. (NYSE: MON) is trading higher after the stock was raised to the Conviction Buy List at Goldman Sachs. The research report said that the flow of bad news is out and it has already been one of the worst S&P stocks so far this year. Shares are trading up 3.5% at $50.50 in active pre-market trading. Just to show how bad it has been, the 52-week range is $48.16 to $87.40.
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JON C. OGG
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