There are several stocks on the move that will be the focus of active traders and day traders on Thursday morning. The stocks on the move are Brocade Communications Systems, Inc. (NASDAQ: BRCD), Burger King Holdings (NYSE: BKC), Wendy’s/Arby’s Group, Inc. (NYSE: WEN), Cardiome Pharma Corporation (NASDAQ: CRME), Melco Crown Entertainment Limited (NASDAQ: MPEL), Orexigen Therapeutics, Inc. (NASDAQ: OREX), and 3PAR, Inc. (NYSE: PAR).
Brocade Communications Systems, Inc. (NASDAQ: BRCD) is trading up almost 3% at $5.34 on more than 20,000 shares as the takeover circle continues to throw this name around as a takeover candidate in the datacenter and networking wars unfolding.
Burger King Holdings (NYSE: BKC) is trading up 22% at $23.00 on over 2 million shares after CNBC’s David Faber said a deal from private equity will be announced shortly at $24.00 per share. Wendy’s/Arby’s Group, Inc. (NYSE: WEN) is trading up 5.5% at $4.35 as a secondary beneficiary of the fast food consolidation.
Cardiome Pharma Corporation (NASDAQ: CRME) is trading up over 13% at $7.02 on over 25,000 shares on news of a $30 million milestone payment.
Melco Crown Entertainment Limited (NASDAQ: MPEL) is trading up nearly 4% at $4.06 on over 50,000 shares on an analyst upgrade after WSJ reported that Macau gambling revenues rose 40%.
Orexigen Therapeutics, Inc. (NASDAQ: OREX) is trading up about 27% st $5.81 on over 300,000 shares after signing what could ultimately be a $1 billion marketing license pact for its obesity drug with Takeda for North America.
3PAR, Inc. (NYSE: PAR) was down over 2% at $31.30 on over 40,000 shares after the Wednesday deadline for Dell to raise its offer against HP has passed without any formal deal match or deal hike. Now just before 9AM EST the WSJ reports that HP is bidding $33 after Dell did apparently make a higher overture to 3PAR. Shares are now up on the day as Dell is said to not be out of the bidding.
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JON C. OGG
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