This is an odd morning where some of the second tier movers are not really on news, but there are still several newsworthy and trader-watch stocks for day traders and active traders. Shares on the move are BP plc (NYSE: BP), Family Dollar Stores Inc. (NYSE: FDO), Netlist, Inc. (NASDAQ: NLST), Sirius XM Radio Inc. (NASDAQ: SIRI), and Zannett Inc. (NASDAQ: ZANE). We have compiled the reason and some color on each.
BP plc (NYSE: BP) is up about 2% this morning after a large gain yesterday. Today’s move is on word that, despite denying a white knight investor rumor this week, an unnamed Saudi group of investors is looking to buy a 10% to 15% stake in BP.
Family Dollar Stores Inc. (NYSE: FDO) reported its quarterly earnings of $0.77 EPS, which beats Thomson Reuters by $0.01. Revenue gre 8% to $1.9 billion, which meets estimates. Shares are down almost 5% at $37.50.
Netlist, Inc. (NASDAQ: NLST) is showing its cult stock status again as it is one of the top gainers on news that NetList announced OEM qualification of its NetVault NV non-volatile memory-subsystem for RAID controllers. Shares closed at $2.30 on Tuesday and the stock is up about 18% at $2.72 on about 210,000 shares.
Sirius XM Radio Inc. (NASDAQ: SIRI) is up on news that it added some 583,249 net subscribers in Q2 versus 186,000 added in the same quarter a year ago. Karmazin also raised subscriber guidance and sees net adds of approximately 1.1 million. Shares are up 6% at $1.00 on active trading of well over 2 million shares.
Zannett Inc. (NASDAQ: ZANE) is soaring this morning as the top percentage gainer. The company put out a release saying that it had a record for contracts signed in Q2 at $20.6 million among 50 customers; Year-to-Date it has signed $37.7 million in contracts. Shares are up 34% at $2.31 on about 200,000 shares traded.
JON C. OGG
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