ArQule Inc. (NASDAQ: ARQL) is a clinical-stage (pre-revenue) biotechnology outfit targeting cancer. We have yet to find any news on the tapes, but it would seem to be development or research driven. Shares are up 11% at $2.75 on almost 1 million shares, twice the normal volume, after just about 45 minutes of trading. Its 52-week range is $1.98 to $5.14.
The Finish Line Inc. (NASDAQ: FINL) tripled its average daily volume to 1.6 million shares after only 45 minutes of trading. The company handily beat earnings and guided comparable sales higher. Now shares are up almost 8% at $24.19, against a 52-week range of $16.87 to $24.46.
Foot Locker Inc. (NYSE: FL) is trading higher as well, but this appears to be solely based on the gains from rival Finish Line. Keep in mind that Foot Locker is worth some $5 billion, versus $1.2 billion for Finish Line, so this is the tail wagging the dog.
Nike Inc. (NYSE: NKE) managed to beat earnings after its debut as a DJIA component. The numbers were so good that it hit a new split-adjusted and dividend-adjusted all-time high of $75.25 earlier in the morning. After just more than 45 minutes of trading, we have shares up 5.35 at $74.03, against a 52-week range of $44.83 to $75.25. The smaller rival Under Armour Inc. (NYSE: UA) was up 1.5% at $80.28 in conjunction with the news.
Stay tuned.
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