There are many stocks on the move this morning for day traders and active traders. BP plc (NYSE: BP), Cell Therapeutics, Inc. (NASDAQ: CTIC), Citigroup, Inc. (NYSE: C), Cliffs Natural Resources Inc. (NYSE: CLF), Fidelity National Information Services Inc. (NYSE: FIS), JA Solar Holdings Co., Ltd. (NASDAQ: JASO) and SonicWALL, Inc. (NASDAQ: SNWL) are all on the move. We have included the move and the news and added color on each if applicable.
BP plc (NYSE: BP) is rallying on an analyst upgrade at RBS and after it denied that it was looking for a white knight investor to take a large stake to help it raise capital. Shares are up 6% and they are not just back over the old $30.00 hurdle. That 6% gain in ADRs is up to $31.11.
Cell Therapeutics, Inc. (NASDAQ: CTIC) is trading up after the company advanced its Pixantrone filing process in the E.U. with an expanded pediatric investigation plan. Shares were up about 9% in earlier indications, and shares are up about 7% at $0.41 on fairly light volume.
Citigroup, Inc. (NYSE: C) may actually be the biggest winner in the JPMorgan upgrade of Goldman Sachs due only to its low share price and its trading volume. Shares are up 1.6% at $3.85, but at almost 4 million shares it is one of the most actives.
Cliffs Natural Resources Inc. (NYSE: CLF) is trading higher on the report that Spider Resources has broken off its agreement to merge with KWG Resources. The firm said that it accepted Cliffs’ offer to take over the company. All three of these outfits are partners in a chromite project in Northern Ontario. Shares are up almost 3.5% at $48.49.
Fidelity National Information Services Inc. (NYSE: FIS) is up after it launched its planned $2.5 billion stock repurchase program and unveiled a $1.2 billion note sale to help fund it. Shares are up just over 4% at $27.50.
JA Solar Holdings Co., Ltd. (NASDAQ: JASO) is up almost 4% at $5.27 after it announced a multi-year supply pact with MEMC which starts in Q3 and goes through 2012.
SonicWALL, Inc. (NASDAQ: SNWL) is down and one of the more active NASDAQ issues in pre-market trading: it said an unsolicited third-party has advised that it no longer intends to pursue the buyout of SonicWALL; its Board continues to recommend that SNWL shareholders vote for the merger with affiliates of Thoma Bravo and Ontario Teachers’ Pension Plan at the special meeting for holders on July 23. Shares closed at $11.78 Friday and the stock is down about 3.25% at $11.40 on over 350,000 shares.
JON C. OGG
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