Several stocks are on the move for day trader and active trader alerts ahead of the three-day weekend. Today’s big movers are Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), BHP Billiton Ltd. (NYSE: BHP), BP plc (NYSE: BP), Dendreon Corp. (NASDAQ: DNDN), Hi-Tech Pharmacal Co. (NASDAQ: HITK), Lincare Holdings Inc. (NASDAQ: LNCR), and Sequenom Inc. (NASDAQ: SQNM). 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 for a second day after its Esai partnership, this morning on an analyst upgrade. Shares are up over 3% at $3.67.
BHP Billiton Ltd. (NYSE: BHP) is bouncing a bit now that Australian authorities have come to their senses over a 40% profits tax from mining. ADRs are up almost 2% and north of $63.50, while the 52-week range is $49.07 to $83.20.
BP plc (NYSE: BP) is indicated higher on word that its relief well drilling efforts are ahead of schedule at the Gulf of Mexico site. The company did have interruptions on clean-up efforts due to waves and rain associated with Hurricane Alex. In analyst calls, the stock was maintained as “Buy” but its price target was cut to $41 at Benchmark. Shares are up over 1.5% at $29.85 this morning.
Dendreon Corp. (NASDAQ: DNDN) are still trying to bounce after yesterday’s fall on Medicare’s review. The company has said it will so far have little impact. Shares are up almost 1% at $30.40.
Hi-Tech Pharmacal Co. (NASDAQ: HITK) is lower after suspending sales of some products after and FDA warning letter on marketing. Shares are down 6% at $21.07, better than prior indications.
Lincare Holdings Inc. (NASDAQ: LNCR) is trading lower on large risks to competitive biding as Medicare looks to cut costs. Shares are down 13% at $27.45 in active trading.
Sequenom Inc. (NASDAQ: SQNM) showed up as a top gainer this morning before the open, but the move may have been above-market prints. We show only 10.980 share traded, and the gain was 4.9% at $5.77 versus a $5.50 close. The current market is not indicated as high, so these may just be above-market prints or could be carryover trades from yesterday that are just being reported this morning.
JON C. OGG
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