Hot Stocks Rallying in Early Trading: SCLN, ECYT, AMRN, VRNG, RAD, LSI, FIO

Stocks are up some this morning one day after the Dow rallied over 200 points. Most banks are continuing to rise today after the Fed announced that most major banks passed its stress test yesterday with Citigroup (NYSE:C) being a notable exception. Goldman Sachs (NYSE:GS) is trading lower today after an op-ed article ran in the New York Times from Greg Smith, former Goldman executive, on why he is leaving the company.

The Dow is currently up 36 points, the Nasdaq is up 6 points and the S&P 500 is up 1 point.

Hot Stocks

SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN) is up 28.44% this morning at $6.73. SCLN is up on heavy volume with 1.9 million shares traded so far today, close to 10 times its average volume. SciClone shares are up this morning on quarterly results the company released late yesterday. Net income for the fourth quarter was $12.4 million compared to $3.8 million a year ago. Excluding certain items, SciClone earned $0.20 per share, analysts were expecting $0.12 a share. SciClone also forecasted adjusted EPS for 2012 of $0.72 to $0.78 per share, way past estimates of $0.43 per share. The company has a market cap of 397.15 million.

Endocyte, Inc. (NASDAQ:ECYT) is up 34.14% in early trading at $5.00. ECYT has traded 2.2 million shares so far today, well above its daily average of 614 thousand shares. Endocyte announced fourth quarter results yesterday and also announced it plans to submit conditional marketing authorization applications for EC145 and EC20. The company has a market cap of 169.04 million.

Amarin Corporation (NASDAQ:AMRN) is up 11.89% today at $8.00. AMRN is trading above average volume already today with 3.6 million shares traded. Amarin shares are back where they were last week after falling about $0.80 in the first half of this week. The company has a market cap of 1.08 billion.

Vringo, Inc. (AMEX:VRNG) is up 13.94% today at $1.88. VRNG has traded 1.8 million shares so far today, more than double its average volume. Vring and Innovate/Protect announced this morning they have signed a definitive merger. The company has a market cap of 11.09 million.

Rite Aid Corporation (NYSE:RAD) is up 5.85% this morning at $1.9850. RAD has traded 19.4 million shares so far today, well above its daily average of 8 million shares. RAD shares have been steadily rising over the past week and are up about $0.40 in that time. The company has a market cap of 1.78 billion.

LSI Corporation (NYSE:LSI) is up 5.06% in early trading at $8.97. LSI has traded 14.6 million shares already today, above its daily average of 10.6 million shares. LSI shares are heading higher this morning after raising its outlook. LSI Corp now expects first quarter adjusted EPS at $0.12 to $0.16. They also raised first quarter revenue outlook revenue to $585 – $615 million. The company has a market cap of 5.10 billion.

Fusion-io, Inc. (NYSE:FIO) is up 3.32% today at $33.28. FIO has traded 2.1 million shares so far today and trades 3 million shares a day on average. FIO shares have been in an uptrend since mid February when it was trading around $23 a share. The company has a market cap of 3.01 billion.

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About Kyle Pinder

Kyle Pinder has has over five years trading and research experience in the large cap space. While still in grad school, Kyle trades daily and keep Active Investor up to date with the latest breaking news coming out of Wall Street and Washington.

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