Wednesday, April 20, 2011

Hot Stocks Of The Day: AAPL, DISH, OCZ, GLNG, PRAN

Shares of the following companies are having unusual moves in U.S. trading.

Apple Inc. (NASDAQ: AAPL) rallied more than 2% Wednesday after Reuters reported that the company plans to begin shipping its next-generation iPhone 5 in September. Production of the new phone will begin sometime in July or August, the report said. The smartphone is expected to look similar to the iPhone 4, but will have a faster processor.

Shares of Dish Network Corp. (NASDAQ: DISH) dropped more than 2% Wednesday after a U.S. appeals court upheld a finding that the company was in contempt of a patent infringement injunction involving TiVo Inc (NASDAQ: TIVO) technology by failing to disable recording features in certain TV set top boxes.

Ocz Technology Group Inc. (NASDAQ: OCZ) plunged as much as 20% after a Seeking Alpha article by Copperfield Research alleged that the company has misrepresented its SSD growth and has financial irregularities that are nearly impossible to reconcile. The report also alleged CEO Ryan Petersen has failed to disclose a criminal background involving charges of theft, drug violations, and forgery.

Golar LNG Ltd. (NASDAQ: GLNG) jumped more than 15% after the liquefied natural gas shipping line said that it doesn’t need to raise additional equity to fund the construction of new carriers.

Prana Biotechnology (NASDAQ: PRAN) soared more than 18% after the company announced its business strategy to accelerate development of its lead asset, PBT2. The strategy, that now includes Huntington's Disease, should enable Prana to target market approval for PBT2 several years sooner than previously planned and at considerably less cost.

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