Top Day Trader Alerts (ARNA, DNDN, ISLE, RIMM, SWHC, RGR, TASR, YHOO)

Investing

Published: July 1, 2010 8:38 am

Last Updated: April 28, 2020 8:30 am

Many stocks on the move for day trader and active trader alerts early this Thursday morning. Some are earnings and guidance, some are not. Today’s big movers are Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), Dendreon Corp. (NASDAQ: DNDN), Isle of Capri Casinos Inc. (NASDAQ: ISLE), Research in Motion Ltd. (NASDAQ: RIMM), Smith & Wesson Holding Corporation (NASDAQ: SWHC), Sturm, Ruger & Co. Inc. (NYSE: RGR), TASER International Inc. (NASDAQ: TASR), and Yahoo! Inc. (NASDAQ: YHOO).

We have provided the news or reason behind the move, as well as background data and added color on each where applicable.

Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) is trading up after the company licensed its obesity and weight loss drug to Eisai. Shares closed at $3.07 yesterday and are up 15% at $3.53 on close to 300,000 shares.

Dendreon Corp. (NASDAQ: DNDN) is getting clipped aggressively this morning after the U.S. government said it will review whether PROVENGE for prostate cancer is reasonable and necessary. This is a move meant to drive down the reimbursement rates after the price tag is so high. Shares are down over 15% at $27.47 on over 500,000 shares. This will be one of the day’s most active stocks for sure.

Isle of Capri Casinos Inc. (NASDAQ: ISLE) is surging this morning on news that it halted a 9 million share secondary offering due to adverse stock market conditions. Shares are up more than you might expect on the news as the stock is up over 13% at $10.50 on about 25,000 shares.

Research in Motion Ltd. (NASDAQ: RIMM) is down 0.5% this morning and\has put in yet even newer 52-week lows… Stocks hitting 52-week lows tend to keep hitting 52-week lows. $50 was violated yesterday, now $49 is being violated this morning.

Smith & Wesson Holding Corporation (NASDAQ: SWHC) is on the move after its lower quarterly earnings were actually above estimates and after its outlook pleased investors. Dirty Harry would be proud. Shares of the gun-maker are up over 7.5% at $4.40 on about 20,000 shares. The 52-week range is $3.75 to $6.98 and average shares per day is over 1 million. Look for volume to pick up as the open gets closer. Sturm, Ruger & Co. Inc. (NYSE: RGR) is the other player in guns, but no trades have been seen there yet.

TASER International Inc. (NASDAQ: TASR) seeing 52-week lows and is not feeling much love after it lowered estimates. Shares are trading down just over 10% at $3.50 on about 10,000 shares. The prior 52-week range was $3.79 to $7.88 and it trades about 1.1 million shares on average.

Yahoo! Inc. (NASDAQ: YHOO) is indicated higher, although on somewhat thin trading volume. The lagging internet giant has authorized a new repurchase plan for shares up to $3 billion over the next three years to replace its prior $3 billion plan. The prior plan had only about $300+ million remaining on it. Shares are up 1.1% at $13.99 on only about 30,000 shares.

JON C. OGG

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