Day traders and active traders have many big movers to watch this morning. We are seeing key moves in Apple Inc. (NASDAQ: AAPL), BP plc (NYSE: BP), Apache Corp. (NYSE: APA), Cytec Industries Inc. (NYSE: CYT), Gilead Sciences Inc. (NASDAQ: GILD), Genzyme Corp. (NASDAQ: GENZ), Sequenom Inc. (NASDAQ: SQNM), Yahoo! Inc. (NASDAQ: YHOO), VMware, Inc. (NYSE: VMW) and EMC Corp. (NYSE: EMC). We have provided the news an additional color on each if applicable.
Apple Inc. (NASDAQ: AAPL) is trading higher after solidly beating earnings and showing high product sales. After a $251.89 close, the stock is up 4.3% at $262.75 on over 700,000 shares.
BP plc (NYSE: BP) and Apache Corp. (NYSE: APA) are on the move after BP is selling $7 billion in assets to Apache. BP CEO Tony Hayward is also reported to be out in ten weeks, although the company denied this. BP is up 3.8% at $36.54 on over 500,000 shares; Apache is lower on dilution and cash advancements of $5 billion… Apache shares are down 1.1% at $87.30 on over 250,000 shares.
Cytec Industries Inc. (NYSE: CYT) is up after record earnings of $1.24 EPS vs. $0.67 from Thomson Reuters consensus and raised 2010 guidance to $3.20 to $3.50 EPS from a prior $1.90 to $2.40 EPS. Shares are up over 11% at $47.50, but pre-market is thinner than last night’s active trading.
Gilead Sciences Inc. (NASDAQ: GILD) is down 3% on active volume and Genzyme Corp. (NASDAQ: GENZ) is indicated down over 2% after both had poor earnings. FULL DETAILS at BHI.
Sequenom Inc. (NASDAQ: SQNM) is higher after being raised to “Buy” at Ladenberg Thalmann and after beiung started as Hold at Jefferies. Shares are up 8% at $6.14 on almost 80,000 shares. While this is a fraction of its former glory-days, Sequenom is at the high-end of its $2.55 to $8.65 trading range now.
Yahoo! Inc. (NASDAQ: YHOO) managed to beat earnings estimates, but revenues were light and guidance was unimpressive after Carol Bartz discussed weaker advertising trends in June. Shares are down 6% at $14.27 on over 1.5 million shares in pre-market trading. This has shares back within striking range of a 52-week low as the year’s range has been $13.75 to $19.12.
We have a mixed bag at the EMC-VMware duo: VMware, Inc. (NYSE: VMW) is up after earnings and after raising 2010 guidance. Its product mix gains were the most impressive portion of the numbers. EMC Corp. (NYSE: EMC) doubled its profit and raised its outlook, but shares were within a few percentage points of 52-week highs. VMware is up over 4% at $75.59 on over 100,000 shares and this marks a new 52-week high as the range had been $30.00 to $74.86. EMC shares are down almost 2% at $19.86 on over 1.3 million shares.
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JON C. OGG
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