Early Morning Movers: CHUX, S, MOTR, SOHU, SINA, MU

The markets are looking a little weaker this morning after a five-week rally on Greek concerns. There is still on deal done in Greece for them to get a second bailout package. With no economic data out today, all focus has shifted back to Europe and investors don’t like what they see. The major indexes are down 0.5% this morning.

O’Charley’s Inc. (NASDAQ:CHUX) is up 41.91% this morning at $9.82. CHUX has traded 10.3 million shares so far today, way above its daily average of 87 thousand shares. CHUX shares are up today after the company agreed to be acquired by Fidelity National. The deal is valued at $221 million. O’Charley’s also posted its fourth quarter results today. The company missed on EPS by $0.16. News of the buyout overshadowed their poor fourth quarter earnings. The company has a market cap of 216.17 million.

Sprint Nextel Corporation (NYSE:S) is up 3.45% today at $2.41. Sprint has traded 26.5 million shares already today and trades 35.7 million shares a day on average. S is up more than $0.30 over the past few days. The company has a market cap of 7.22 billion.

Motricity, Inc. (NASDAQ:MOTR) is up 25.16% this morning at $1.6010. MOTR has traded 5.2 million shares so far today, nearly 5 times the stock’s daily average volume. MOTR shares have jumped 100% since last Thursday. Motricity is bouncing back some after being in a distinct downtrend for more than a year. The company has a market cap of 73.17 million.

Sohu.com Inc. (NASDAQ:SOHU) is down 15.05% today at $53.50. SOHU has traded 4.1 million shares today, up from its daily average of 1.2 million shares. Sohu released fourth quarter results this morning and while it beat estimates for fourth quarter, its first quarter forecast was below estimates. Net income fell to $26.9 million from $44 million a year ago. Revenue jumped 42.2% to $246.2 million. The company has a market cap of 2.03 billion.

Sina Corporation (NASDAQ:SINA) is down 5.40% this morning at $71.00. SINA has traded nearly 3 million shares this morning and trades 5.3 million shares a day on average. SINA shares are pulling back slightly after rising about $8 a share since last Tuesday. The company has a market cap of 4.66 billion.

Micron Technology, Inc. (NASDAQ:MU) is down 2.33% today at $7.76. MU has traded 15.6 million shares today and trades 31.2 million shares a day on average. Micron promoted Mark Durcan from COO to serve as CEO following the death of Steve Appleton in a small plane crash on Friday. Tech stocks retreated across the board as investors worry about Greece’s debt. The company has a market cap of 7.66 billion.

written by

An avid market watcher, Martin enjoys the tech arena the most with the Nasdaq being his main area of focus. A finance major, Martin is working to the goal of one day ringing the bell at the NYSE.
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