There are many stocks on the move on news for day traders and active traders this morning including Adobe Systems Inc. (NASDAQ: ADBE), BP plc (NYSE: BP), CarMax Inc. (NYSE: KMX), Chimera Investment Corporation (NYSE: CIM), IncrediMail Ltd. (NASDAQ: MAIL), PPL Corporation (NYSE: PPL), Red Hat Inc. (NYSE: RHT), Rite Aid Corp. (NYSE: RAD), Royal Gold, Inc. (NASDAQ: RGLD), and iShares MSCI All Country Asia ex-Japan Index (NASDAQ: AAXJ). We have offered the news, the move, and color on each where applicable.
Adobe Systems Inc. (NASDAQ: ADBE) is trading down 2.5% at $31.95 on about 150,000 shares after issuing mostly in-line earnings and guidance.
BP plc (NYSE: BP) is up 1.85% at $30.23 after the $29.00 low of the last 52-weeks was not violated yesterday during the sell-off. Right before 9 AM EST there still have not been 1 million ADRs that have traded hands.
CarMax Inc. (NYSE: KMX) is rallying after the company beat earnings as revenue rose about 23% from the same quarter a year ago. Shares are up 10% at $22.00 on right about 100,000 shares.
Chimera Investment Corporation (NYSE: CIM) filed to sell 100 million shares to finance the acquisition of residential mortgage-backed securities; shares are down 2% at $3.74 on over 2.5 million shares.
IncrediMail Ltd. (NASDAQ: MAIL) traded up on news that could go either way. The company renewed its year old pact with Google to the end of 2010 and it says it is still looking for diversified partnerships. Shares closed at $5.26 and are up about 5.5% at $5.55, but the trading volume is paltry so far an not even 10,000 shares.
PPL Corporation (NYSE: PPL) is down after selling 90 million shares at $24.00 to help finance its E. On purchase; shares are trading up 0.3% at $24.32 after a $24.24 close and over 2.5 million shares have traded so far.
Red Hat Inc. (NYSE: RHT) earnings did not drive the stock last night: $0.18 on $209 million versus Thomson Reuters $0.18 and $202.89 million. Shares were down 3% last night but this morning shares seem to be just over $31.00 after closing at $30.86.
Rite Aid Corp. (NYSE: RAD) is running higher this morning as the trouble pharmacy turnaround posted a narrower loss than expected. Shares are up about 13% at $1.14 on over 500,000 shares.
Royal Gold, Inc. (NASDAQ: RGLD) is trading lower after pricing its secondary offering of 5.2 million shares at $48.50 after a $51.28 close yesterday. Shares are down 5.2% at $48.60 on 245,000 shares.
iShares MSCI All Country Asia ex-Japan Index (NASDAQ: AAXJ) traded up 1.4% at $55.18 on 1.4 million shares; may be a carry-over trade.
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JON C. OGG
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