Many stocks are on the move for day traders and active traders this morning. Oddly, most are not on earnings. Some of the top percentage movers and standout stocks are Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), ARM Holdings plc (NASDAQ: ARMH), BP plc (NYSE: BP), Genzyme Corp. (NASDAQ: GENZ), Gilead Sciences, Inc. (NASDAQ: GILD), First Solar, Inc. (NASDAQ: FSLR), and ONYX Pharmaceuticals, Inc. (NASDAQ: ONXX).
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) is up almost 6.5% at $6.29 on almost 500,000 shares on positive opinion ahead of its FDA review later this year.
ARM Holdings plc (NASDAQ: ARMH) is up another 2.7% at $16.59 on follow-on buying after Friday’s Microsoft license.
BP plc (NYSE: BP) is up almost 3% after Bonnie fizzled and did not hurt the BP cap but most importantly the stock is up on word that Tony Hayward is just about to be tossed out as CEO. ADRS are up 2.95% at $37.95 on almost 750,000 shares.
Genzyme Corp. (NASDAQ: GENZ) is up another 6% at $66.50 on very active pre-market trading on worth that J&J and/or GlaxoSmithkline may be interested in the company as well. Sanofi-Aventis was the front runner on Friday that put shares at a 52-week high. Other Peers Noted as Possible Candidates as well.
Gilead Sciences, Inc. (NASDAQ: GILD) is down slightly after announcing it will offer $2.2 billion worth of convertible senior notes and that it will use at least $1 billion of the proceeds to repurchase common stock. Shares were up originally but the stock is now flat.
First Solar, Inc. (NASDAQ: FSLR) might have been worse on a different morning. Barron’s panned the issue over safety issues and margin issues on sales where prices keep drifting lower.
ONYX Pharmaceuticals, Inc. (NASDAQ: ONXX) is one of the top percentage movers after announcing positive top-line Carfilzomib data from a Phase IIb study in blood cancer. Shares are up 12% at $24.17 on over 700,000 shares.
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JON C. OGG
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