Top Day Trader Alerts (AIG, BP, XIDE, JAV, JOYG, SNWL, STP)

American International Group, Inc. (NYSE: AIG) bankers have, according to Bloomberg, estimated that its Asian life insurance unit would be valued between $32 billion and $36 billion after an IPO.  While perhaps less than the $35.5 billion sale to Prudential plc originally, this is better than a renegotiated price of about $30 billion which many expected.  Shares are up 2% at $35.77, but on thin volume.

BP plc (NYSE: BP) is somehow up even though it was downgraded by Fitch, which may widen out its credit default swap rates even further.  The new rating is AA from AA+.  Shares are up 3.6% at $39.02 per ADR on close to 2 million shares.

Exide Technologies (NASDAQ: XIDE) is trading higher after the firm reported a loss cut a day after its President/COO resigned.  Shares are now up 33% at $5.70 on over 170,000 shares.

Javelin Pharmaceuticals, Inc. (AMEX: JAV) is getting speared over a breach of merger agreement.  Shares are down 20% at $1.21 on well over 2 million shares.

Joy Global, Inc. (NASDAQ: JOYG) is soaring after it reported earnings of $1.15 EPS.  That was about $0.38 higher than estimates; Revenue fell 3% to about $896 million, also above estimates of $756 million.  Shares are up 8.6% at $56.98 on over 70,000 shares.

SonicWALL, Inc. (NASDAQ: SNWL) is soaring after it signed a deal to be acquired by Thoma Bravo, LLC in a transaction valued at about $717 million.  Shares are up over 25% at $11.32 on well over 1.3 million shares.

Suntech Power Holdings Co. Ltd. (NYSE: STP) is down despite some cautious earnings.  It reported that its Q1 EPS was $0.11, short of the $0.13 estimate from Thomson Reuters. Revenue rose about 85% to $588 million, which is in-line with estimates.  Shares are up almost 2% at $9.92 on almost 50,000 shares on day when they might have been lower on the news.

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JON C. OGG

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