There are many stocks on the move this morning for active traders and investors. Stocks on the move are ARM Holdings, plc (NASDAQ: ARMH), Arena Pharmaceuticals Inc. (NASDAQ: ARNA), Best Buy Co.Inc.(NYSE: BBY), Campbell Soup Co. (NYSE: CPB), ICAgen Inc. (NASDAQ: ICGN), Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD), Level 3 Communications Inc. (NASDAQ: LVLT), Microsoft Corporation (NASDAQ: MSFT), SPDR Gold Shares (NYSE: GLD), and THQ Inc. (NASDAQ: THQI).
ARM Holdings, plc (NASDAQ: ARMH) is trading lower by 6.1% at $17.62 on over 140,000 shares in pre-market trading after overseas trading.
Arena Pharmaceuticals Inc. (NASDAQ: ARNA) is lower after Barclays cut the biotech cut to “underweight” over concerns that Arena’s lorcaserin will be approved by the FDA. Shares are down 3.6% at $6.60 on more than 100,000 shares.
Best Buy Co.Inc.(NYSE: BBY) managed a stellar earnings report and shares are now indicated up 9% at $37.86 after a $34.65 close on Monday. The 52-week trading range was $30.90 to $48.83.
Campbell Soup Co. (NYSE: CPB) is trading down 2.6% at $35.11 after Goldman Sachs reportedly cut its rating to SELL.
ICAgen Inc. (NASDAQ: ICGN) is getting hit after it stopped its epilepsy trial enrollment on adverse event; shares are down 26% at $0.17 versus a prior 52-week range of $0.23 to $1.33…
Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD) is trading higher on positive results from its irritable bowel syndrom treatment. To think that this is not an E.D. treatment company is amazing considering the name. Shares closed at $9.75 and are up almost 21% at $11.75 on over 20,000 shares.
Level 3 Communications Inc. (NASDAQ: LVLT) is getting hit by almost 11% at $1.03 after the company plans to raise up to $175 million.
Microsoft Corporation (NASDAQ: MSFT) is one to watch after yesterday’s late-day surge to $25.11 on word that it will fund a large debt offering for a share buyback or a dividend. Shares are down 0.5% at $24.97 in the pre-market trading but shares were up around $24.50 before that report came out at the end of trading yesterday.
SPDR Gold Shares (NYSE: GLD) is up over 1.15 at $123.01 on nearly 1 million shares already and the market has not even opened. The gold bugs are at it again….
THQ Inc. (NASDAQ: THQI) reduced its guidance, a surprise considering the news flow, and it said its Red Faction game will be out in May-2011. Shares are down 3.75% at $3.59 pre-market. This guidance is still not a huge issue if you consider its cash and where the company has been.
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JON C. OGG
JON C. OGG
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