Active traders and day traders have a decent slew of companies to choose from this late-August Monday.  We are seeing large trading activity in shares of Ceragon Networks Ltd. (NASDAQ: CRNT), Cogent Inc. (NASDAQ: COGT), DG FastChannel, Inc. (NASDAQ: DGIT), Genzyme Corporation (NASDAQ: GENZ), Hewlett-Packard Company (NYSE: HPQ), QLogic Corp. (NASDAQ: QLGC), and SunPower Corporation (NASDAQ: SPWRA).

Ceragon Networks Ltd. (NASDAQ: CRNT) is trading higher after receiving orders for mobile backhaul equipment from one of India’s “leading operators.”  Shares are trading up 6.7% at $8.30 on about 20,000 shares versus a 52-week range of $6.85 to $13.29.

Cogent Inc. (NASDAQ: COGT) is up 21.7% at $10.85 after 3M announced it was acquiring the fingerprint identification system provider at %10.50 per share.  Cogent has has unanimously recommended that the shareholders of Cogent Systems accept the offer, and there is a premium to the deal now here as in others because of a hope that other buyers will emerge.

DG FastChannel, Inc. (NASDAQ: DGIT) tried to fend off a warnings for Q3 and for 2010 by announcing a $30 million share buyback plan.  That did not work as the stock is down 17.7% at $20.20 versus a 52-week range of $16.39 to $44.19.

Genzyme Corporation (NASDAQ: GENZ) is trading higher after it rejected the $69.00 offer from Sanofi Aventis.  Investors are hoping for a bidding war as shares are up around $70.50 on more than 1 million shares.

Hewlett-Packard Company (NYSE: HPQ) is trading higher after announcing an additional share buyback plan of up to $10 billion.  Some will be accelerated: “we expect to repurchase at least $3 billion worth of our shares in our fiscal fourth quarter at current price levels.”  Shares are now up 2.8% at $39.06 on over 500,000 shares.

QLogic Corp. (NASDAQ: QLGC) announced board approval of a stock buyback of up to $200 million additional in stock versus a $1.6 billion market cap.  Shares are up about 1% at $14.96 versus a 52-week range of $14.30 to $22.40.

SunPower Corporation (NASDAQ: SPWRA) is trading higher after a rally last week on fresh headlines that its solar technology was selected for multiple U.S. federal government facilities.  Shares were up more earlier, but on last look the stock was up 2% at $11.45 on 12,000 shares.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.