There are many stocks on the move this Tuesday morning for day traders and active traders to pick from. We are watching the key moves in Acorda Therapeutics, Inc. (NASDAQ: ACOR), Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), Cognizant Technology Solutions Corp. (NASDAQ: CTSH), Dow Chemical Company (NYSE: DOW), Genzyme Corp. (NASDAQ: GENZ), Pfizer Inc. (NYSE: PFE), Procter & Gamble Co. (NYSE: PG), Solarfun Power Holdings Co. Ltd. (NASDAQ: SOLF), Sykes Enterprises, Incorporated (NASDAQ: SYKE), and Trius Therapeutics, Inc. (NASDAQ: TSRX).
Acorda Therapeutics, Inc. (NASDAQ: ACOR) is trading higher after its Ampyra MS sales were reflected in its quarterly earnings. Sales were close to double expectations at $30 million. Shares are trading up 10% at $36.49 on only about 15,000 shares.
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) is weak again after a JPMorgan downgrade yesterday and ahead of earnings after the close today. Shares are down another 2.5% at $6.99 on over 130,000 shares.
Cognizant Technology Solutions Corp. (NASDAQ: CTSH) is soaring after beating earnings estimates and raising 2010 guidance. Shares are up 11.8% at $61.96 on about 200,000 shares. Mark this as a 52-week high as the prior range was $29.76 to $56.08.
Dow Chemical Company (NYSE: DOW) is trading lower after the chemical giant reported Q2 earnings of $0.54 EPS on $13.6 billion in revenue versus estimates from Thomson Reuters of $0.56 EPS and $13.69 billion. Shares are down 4.7% at $27.00 on over 100,000 shares versus a 52-week range of $19.75 to $32.05.
Genzyme Corp. (NASDAQ: GENZ) is trading marginally higher after reports that it has entered into friendly merger negotiations with Sanofi. Shares are up 1% at $71.10, but on light trading volume.
Pfizer Inc. (NYSE: PFE) beat its earnings expectations this morning and maintained guidance. Shares are now up 3.6% at $16.04 on well over 2.5 million shares.
Procter & Gamble Co. (NYSE: PG) shares are trading lower by about 3.4% at $59.94 on over 400,000 shares after earnings disappointed the street. Advertising, slow growth, high promotions, and even private label selling are all chalked up as the culprit. The 52-week range is $39.37 to $64.58, although that $39-handle is from The Flash Crash and is fake.
Solarfun Power Holdings Co. Ltd. (NASDAQ: SOLF) is trading higher, although maybe not a smuch as it would sound considering the news. Revenue rose 18% to $258.5M and earnings were $0.59 EPS vs. Thomson Reuters estimates of $212.8 M and $0.25 EPS. There may be items in the numbers. The big news is that Hanwa Chemical is paying roughly $10.72 per ADR to buy half of the company. Shares are trading up 12.6% at $11.55 on over 250,000 shares, a new 52-week high versus a trading range of $4.48 to $10.78.
Sykes Enterprises, Incorporated (NASDAQ: SYKE) is getting crushed this morning after missing earnings estimates and lowering guidance. Shares are down 32% at $10.35 on over 250,000 shares. Mark that as a new 52-week low as the prior trading range was $13.48 to $26.91.
Trius Therapeutics, Inc. (NASDAQ: TSRX) priced its IPO of 10 million shares at $5.00. The price is far lower than the prior $12 to $14 price range, but the share count is far higher. This begins trading today.
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JON C. OGG
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