Stocks on the Move Volume spike premarket

Pharmacyclics (PCYC) released preliminary results of its rights offering to purchase up to 22.5M shares of the Company’s common stock at a subscription price of $1.28 per share.

Affymax (AFFY) releaseds Q2 EPS ($1.17) vs. consensus of ($1.27)
Reports Q2 revenue $26.92M vs. consensus of $25.32M.

Whole Foods(WFMI) at 52week high which is about 50% of the 2007 highs. The companyt released earnings which were better than expected.  We had over 1 million shares trade hands after the report after the close yesterday.

Novavax,Inc. (Nasdaq:NVAX) pre market spike on volume.  This biotech company makes a virus particle vaccine that works on  H1N1 influenza.  Novavax has produced essential reagents for measuring vaccine potency and also has plans to produce additional batches of the pandemic H1N1 VLP vaccine to support human clinical studies. Shares are up a sharp 23% at $5.76 in trading as of 8:15 AM EST on 657,000 shares.

American Capital Ltd. ACAS is looking like a short this morning  The businesses posted a $547 million second-quarter loss and is outside of its covenants.  The loss came to -$2.52 EPS and net operating income fell 86% to $20 million or $0.09 EPS

Big 5 (BGFV) Sporting Goods upgraded to Neutral from Underperform at Wedbush
Wedbush upgraded Big 5 following the company’s better than expected Q2 results and raised its target on shares to $14 from $9.

Nasdaq Composite

Pivot points for the $COMP. Pivot High: 2024.375, Pivot Low: 2002.525. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.

INO CLOSES 30 Million Funding Stocks flying

INO closes $30 mln registered direct offering

July 31 (Reuters) – Inovio Biomedical Corp: * Closes $30 million registered direct offering

Biggest $ insider buying in the last 10 days

TOTAL BUYS       SALES

DDUP     Data Domain Inc             $278,756,300     $0     2

OREX     Orexigen Therapeutics Inc         $34,124,998     $2,250,000

HGG     hhgregg Inc                 $33,999,999     $0

IOT     Income Opportunity Realty Inve         $30,439,000     $30,439,000     2     2

IBKR     Interactive Brokers Group Inc         $5,192,400     $0     2

VRX     VALEANT PHARMACEUTICALS INT   $3,396,799     $0

GBR     CabelTel IntCorporation     $2,765,550     $9,827,210

OPK     Opko Health Inc             $1,649,780     $0     2     0

CHTP     Chelsea Therapeutics Int Ltd     $1,600,000     $0

MPET     Magellan Petroleum Corp         $1,308,666     $0

News breaking

Markets remain down
The averages opened lower and the markets looked like they would be in for a bout of profit-taking.  Almost making it into positive territory ths morning the  market is certainly proving to be resilient.

The DOE released its weekly inventory numbers showing crude oil stockpiles rose 5.1M barrels versus an expected decline of 1.0M barrels. Gasoline inventories fell 2.3M barrels versus analyst’s prediction of a break even. The Dow is down 22 to 9,073, the NASDAQ is down 10 to 1,965, and the S&P is down 4.50 to 975.05

SLAB buy rec just out
TWX New breaking
CACI NEWS BREAKING  45.60 per share

Pre Market Stocks on the Move July 24

BIDU price target to $376 from $350 at Goldman GoldmanBaidu’s Q2 report beat its revenue and margin expectations driven by the secular demand in search, Phoenix Next deployment, and limited competition.

The following stocks were the top percentage losers before the open on solid volume of at least 50,000 shares, trading at over $10. RIGL (19.6%), RVBD (17.7%), ERIC (7.5%), MSFT (7.5%), AMZN (6.4%).

Gaming Supplier price targets raised at Goldman Goldman raised Gaming Supplier price targets citing new states rolling out gaming, higher replacement sales due to competition, and slot purchases. Bally Tech (BYI) price target to $39 from $31, International Game Tech (IGT) to $25 from $20, and WMS Industries (WMS) to $40 from $34.

Pre-market top 5 gainers
The following stocks were the top percentage gainers before the open on solid volume of at least 50,000 shares, trading at over $10. SPWRA 18.7%, SEPR 7.8%, ENER 5.3%, IR 4.48%, YHOO 0.6%.

Pre Market trading

Northrop Grumman  (NYSE:NOC)  Northrop Grumman and the U.S. Air Force have developed a new radar system and  have successfully demonstrated that the new radar developed for the B-2 stealth bomber can fulfill the performance requirements for its required missions, both conventional and strategic.

Suntech, China Huadian  (NYSE:STP) sign agreement to develop 500MW of solar projects
Suntech Power Holdings announced that Suntech has recently entered into a strategic agreement with China Huadian New Energy Development Co., or HNE, to develop a total of 500MW of utility-scale and commercial roof-top solar projects in China’s sun rich western provinces, Jiangsu province and Shanghai over the next three years. Under the agreement, HNE will be responsible for the project investment and development of solar projects and Suntech will be responsible for supplying crystalline silicon solar modules, system design and technical support.

Wells Fargo EPS above expectations

Onyx Pharmaceuticals (ONXX) announced that their first cooperative group-sponsored randomized Phase 2 trial in advanced metastatic breast cancer met its primary endpoint of progression-free survival. The study evaluated Nexavar tablets in combination with the oral chemotherapeutic, capecitabine, in patients with locally advanced or metastatic HER-2 negative breast cancer. Study findings demonstrated that the median progression-free survival was extended in patients treated with Nexavar and capecitabine compared to patients receiving capecitabine and placebo.

PIPE REPORT July 21, 2009

PIPE Volume Rose in 2nd Quarter, Compared With First
Posted July 21, 2009 12:00PM PST

The second quarter saw a promising increase in PIPE activity, as U.S.-listed companies raised $12.9 billion, or 63% more capital than they did in the first quarter, according to PrivateRaise, the data service of DealFlow Media. The number of deals rose 32% over the first quarter.

Major players in the PIPE market in the first half of the year included Iroquois Capital and Downsview Capital, the only fund managers to invest in more than 10 offerings; and Rodman & Renshaw, which placed 27 PIPEs, three times the number of placements by Lazard, the second most active placement agent. Investors who brought the most cash to the PIPE market were Berkshire Hathaway, which invested $3 billion in a private placement; Aabar Investments PJSC, with $2.6 billion; and Kuwait Investment Authority, with $1 billion. The companies that raised the most capital included four Dow Chemical, with $4 billion; BlackRock, Inc., with $2.8 billion; Daimler AG, with $2.5 billion; and ArcelorMittal, with $1.7 billion.

Data from the first half shows that PIPE financing activity has not returned to levels prevailing before the credit crunch of late 2008 and fickle securities markets depressed most forms of financing. The first half of 2009 saw a 44% drop in deal volume, compared with the year earlier period, and a 68% decline in total investment.

The third and fourth quarters could bring a further rebound towards last year’s numbers. In addition to increased deal flow, second quarter numbers reflect a growing trend in registered shelf offerings or “registered directs.” Companies raised $967.7 million in 57 registered direct offerings last quarter, compared to $417.9 million in 25 first quarter deals. While registered directs accounted for only about 7% of capital raised in the second quarter, the number of shelf statements filed in anticipation of future raises more than doubled from the same quarter last year. The 250 shelf statements filed in the second quarter of this year could be used to raise as much as $39 billion. As much as $72 billion could be raised from shelf statements filed during the entire first half of the year.

Even at the current level of activity they represent a fraction of the total PIPE market, and are not a viable option for the majority of emerging growth companies that remain ineligible for S-3 registration and must rely on the traditional PIPE market for equity capital.

Earnings on CTXS

Citrix Systems (CTXS) reports Q2 earnings after the market close on Wednesday, July 22, Citrix Systems to announce strong Q2 results,or above current expectations, and to maintain its FY09 guidance.

The core business held up reasonably well in the quarter, with William Blair estimated XenApp license revenues of $88M. The firm’s checks continue to indicate strong customer interest in desktop and client side virtualization, and it believes the company is well positioned to capitalize on this trend in the long term. However, despite its confidence that Citrix is likely to maintain full-year guidance

Wells Fargo (NYSE:WFC) is expected to report Q2 earnings before the market open on Wednesday, July. Analysts are looking for EPS of .34 on revenue of $18.95B. The consensus range for EPS is 0c to 50c, while the consensus range for revenue is $18.95B to $21.71B, according to First Call. A Sterne Agee analyst, reporting that he heard Wells had sold $600M of non-performing subprime loans for 35c on the dollar, recently predicted that Wells would have to raise more money through the equity markets. Last month S&P lowered the ratings of Wells and 21 other banks as the ratings agency predicts that operating conditions for the banking industry will become less favorable than in the past. June that Wells could report strong Q2 results. The firm said that Q2 estimates appeared to be low. The Citigroup analyst expected Wells to provide bullish guidance, although it maintained a Hold rating on the stock based on valuation. Also, the Q2 EPS of Wells peers JP Morgan (JPM), Bank of America (BAC) Goldman Sachs (GS), and Citigroup (C), beat expectations. JP Morgan and Citigroup said they saw improvements in the performance of the financial markets, while Goldman and Citigroup both said that the trading environment was favorable. Bank of America reported that it felt less constrained by macro economic factors. On the other hand, some analysts have been unenthusiastic about both banks’ fundamentals, and their stocks have fallen in recent days. (the Fly)

ECB Bancorp (Nasdaq:ECBC) reports Q2 EPS 19c vs.

More Action QLGC

QLogic (QLGC)  to report Q1 earnings after the market close on Tuesday, July 21, with a conference call scheduled for 5:00 pm ET

NRG Energy on the move (NRG) $24.30 last

Misonix (MSON)  awarded  for forensic equipment in ChinaMisonix announced receipt of its first award for forensic equipment in China from the company’s distributor CSI Technology/CStrace International.

Equipment will be used by  Chinese Law Enforcement in a major city in China. This award came from a competitive bid which focused on quality and performance.

Mid Day report

DuPont: Earnings release NYSE:DD

There is a bottom “W” pattern in progress on the daily chart.   Look for DD to trade up to the $29 area, Better than expected .

Advance Micro upgraded to outperform NYSE:AMD

Stocks continue to rally into monday mid day. Stocks continued last week’s rally. All 3 of  indices into green territory up 5%
Crude oil prices are up 0.5% and gold is basically flat.

Citigroup  NYSE:C  options active  call option volume of 534,676 contracts compares to put volume of 414,924 contracts. C August 3 straddle at 59c, September 3 straddle at 74c. C over all option implied volatility of 52 is