SZYM

Solazyme IPO, FiberTower, Advanced Analogic Buyout Leads Rallying Stocks

All of the major indices are on a rallying run this morning. The Dow is up 76 points this morning after a week of mixed results. The Nasdaq and S&P 500 are up 17 and 8 points respectively. Oil is currently holding steady around $100 per barrel. Gold has seen the largest rebound this morning, climbing $14.70 per ounce heading into midday trading. This week has felt like a roller coaster ride for Wall Street. There are several companies that in the green today including the IPO for Solazyme.

FiberTower Corporation (Nasdaq:FTWR) Shares have risen $.65 this morning to $1.76 per share. FTWR is up 58% with over 6 million shares traded this morning. This is well above its daily average volume of around 400 thousand shares. No recent news on FTWR, but it will be interesting to see how the stock closes today.

Advanced Analaogic Technologies, Inc. (Nasdaq:AATI) shares have opened up $2.13 to $6.03 per share. Volume has increased extensively to 34.5 million shares, a drastic difference from the 175K shares that are normally traded daily. The increase in share price comes on news that cell phone chip maker Skyworks Solutions (Nasdaq:SWKS) has agreed to purchase Advanced Analogic for $6.13 per share. The deal will include $3.68 cash per share and .08725 shares of Skyworks stock.

Solazyme (Nasdaq:SZYM) released its much anticipated IPO today. Shares opened at $19.60 up from the expected $18 open and have been as high as $22 per share in Intraday trading. Solazyme represents the last of the major IPO’s this week, some of which weren’t very successful openings. Solazme released 11 million shares at $18 in its IPO. Solazyme is acompany that leads the way in green technology. Solazyme takes low-cost plant sugars and turns them into a renewable oil that can be used in fuel, food, cleaning products, and health and beauty aids.

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