There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Blue Coat Systems Inc. (NASDAQ: BSCI), Cell Therapeutics, Inc. (NASDAQ: CTIC), E. I. du Pont de Nemours and Co. (NYSE: DD), Pharmacyclics, Inc. (NASDAQ: PCYC), and Flow International Corp. (NASDAQ: FLOW).
Blue Coat Systems is up more than 44% at $25.20. Volume is more than 20X the daily average. The network technology company is being taken private at $25.81 in an all-cash offer that values the company at $1.3 billion. The buyers are led by private equity firm Thoma Bravo LLC.
Cell Therapeutics is down nearly -14% at $1.19. Volume has already surpassed the daily average. The cancer treatment maker announced a $20 million sale of preferred stock and warrants. Under the terms of the deal, one share of preferred stock may be converted to 870 common shares at a price of $1.15/share. The sale could boost the number of shares of common stock outstanding by 17.4 million.
DuPont shares are down more than -4% at $44.53. Volume in the first half-hour of trading is about half the normal daily total of 8.4 million shares traded. The chemical maker lowered its fiscal year 2011 earnings estimates this morning.
Pharmacyclics stock is down more than -15% at $12.36. Volume is already about double the daily average. The cancer and immune system drug maker was downgraded to ‘sector perform’ at RBC Capital on lowered expectations that the company may be acquired in 2012.
Flow International is up nearly 35% at $3.26. Volume is already 6X the daily average. The industrial products company reported better-than-expected earnings and revenues after markets closed last night.
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