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.

July 20 stocks on the move pre market

NYSE:CIT shares spiked 90% in pre open trade as investors breathed a sigh of relief that bankruptcy appeared off the table for the time being.

CIT is said to be paying 10.5% for the funds, which should enable the troubled small- and medium-sized business lender to meet obligations on about $1 billion in debt coming due in August, the Wall Street journal reported on Monday.

GR:NYSE Goodrich signs long-term agreement with Alp Aviation for F-35 Lightning II landing gear components and assemblies. The agreement covers deliveries.

Cisco: Upgrade  breakout shares were upgraded to Outperform at Credit Suisse, with a $25 price target. Friday shares broke out  and now are up 2.1% in the pre-market.  high at the
$20.35 area, which now becomes support. Resistance levels to watch as potential upside objectives are at $21.18,  $22.48.

Citigroup upgraded Allergan to Buy from Hold to reflect increased estimates for Botox and its belief Latisse guidance looks conservative. The firm raised its target on shares to $57 from $45.

Jefferies upgraded Texas Instruments to Hold from Underperform after channel checks indicated business is strengthening. Jefferies believes Texas Instruments’ September quarter guidance will come in better than expected and raised its target on shares to 23 from $16.