Market Overview

Benzinga's Volume Gainers

Despite a quiet broader market, with the Dow and S&P falling very marginally, and the Nasdaq up around 0.30%, there are quite a few notable stocks moving higher on heavy volume on Friday. Among these names are Dendreon (NASDAQ: DNDN), Jazz Pharmaceuticals, (NASDAQ: JAZZ), Apollo Group (NASDAQ: APOL), Netflix (NASDAQ: NFLX), Regeneron Pharmaceuticals (NASDAQ: REGN), Ciena (NASDAQ: CIEN), Expedia (NASDAQ: EXPE), Seagate Technology (NASDAQ: STX), Alexion Pharmaceuticals (NASDAQ: ALXN), and lululemon athletica (NASDAQ: LULU).

Dendreon - Yesterday, DNDN pre-announced its Q4, saying that product revenue for the quarter, driven by PROVENGE, more than tripled from a year earlier. Revenue from PROVENGE, a new cutting edge cancer treatment, rose to $82 million during the quarter, exceeding Wall Street expectations. Dendreon shares jumped 40% on Thursday in the wake of the news, and are continuing to surge on Friday. At last check, DNDN had risen another 12.43% to $11.94. Volume has been extremely heavy and is running at 431% the daily average.

Jazz Pharmaceuticals - On Thursday after the closing bell, JAZZ delivered 2012 earnings guidance ahead of the Street. The company sees earnings per share in a range between $4.00 – 4.15 on revenues of $465–490 million. This compares to current Street consensus of $3.40 on revenue of $462.8 million. The robust outlook is pushing shares up on heavy volume on Friday, with JAZZ last trading 10.61% higher at $45.85. Volume is running at 396% of its daily average in the name.

Apollo Group - The for-profit education provider released its earnings after the market close on Friday. APOL reported adjusted earnings per share of $1.28 compared to analysts' consensus estimates of $1.18. On Friday investors are reacting to the positive news, sending shares up 5.85% to $56.86. Around 3.5 million APOL shares have already traded hands during the session compared to a 3-month daily average of 1.8 million.

Netflix - Shares have been very active in recent days, rising more than 24% over the last 5 trading sessions. On Friday, the stock is exploding once again, adding 9.39% to $86.76. On Wednesday the company said that its customers streamed more than 2 billion hours of TV shows and movies during the fourth quarter of 2011. There is also speculation in the market that NFLX is a takeover target, with the most recent company mentioned as a possible suitor being Yahoo (NASDAQ: YHOO). Volume is running at 95% above the daily average in NFLX on Friday.

Regeneron Pharmaceuticals - This is another stock that has been very active recently, rising better than 16% over the last five sessions. On Friday, REGN has jumped 7.86% to $65.73. The stock was upgraded from "Hold" to "Buy" at Jefferies Group (NYSE: JEF) this morning.

Ciena - Shares have risen 3.04% to $13.58 on Friday after a big rally yesterday. Ciena has a heavy short interest, and some of the recent activity in the name could be related to short covering. Volume is running at 42% above the daily average.

Expedia - The travel website's shares have added 3% on Friday on heavy volume to $29.63. Around 3.5 million EXPE shares have already changed hands on the session compared to a 3-month daily average of 2.3 million. It is unclear what is driving the increased activity in the name.

Seagate Technology - Seagate is continuing its momentum from yesterday when the stock rallied sharply after pre-announcing better than expected fiscal Q2 revenue. The hard-drive maker said that it sees preliminary revenues for Q2 between $3.1 and $3.2 billion versus consensus of $2.81 billion. Also, the company is projecting Q3 revenue between $4.2 billion and $4.5 billion versus current consensus estimates of $3.62 billion. STX shares have risen 2.63% to $18.37 on heavier than usual volume during Friday's trading session.

Alexion Pharmaceuticals - ALXN has been moving higher over the last couple of days and has added 2.54% to $74.27 on Friday. Increased activity in the name is likely due to the company's recent acquisition of Enobia. The stock is currently sitting at a new 52-week high, which is also helping to drive activity in the high-flying biotech name.

lululemon athletica - LULU shares have surged 3.19% to $53.75. The move is coming on slightly higher than usual volume. LULU is one of the leading growth stocks on the Nasdaq, and is up more than 14% in the last 5 days as investors appear to be eager to add positions in this retail leader.

Posted-In: Earnings News Guidance Upgrades Intraday Update Analyst Ratings Movers

 

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