Friday, April 1, 2011

Hot Stocks Of The Day: WYNN, AVII, OPTR, ALEX, ASTI

Below we highlight few companies whose shares are actively trading in Friday's session.

Shares of Wynn Resorts Ltd. (NASDAQ: WYNN) after Macau government said that casino revenue in the world's biggest gaming market jumped 48 percent in March to 20.1 billion patacas ($2.51 billion).

AVI BioPharma, Inc. (NASDAQ: AVII) plunged more than 17% after the company announced that it has priced an underwritten public offering of 20,000,000 shares of its common stock at a price to the public of $1.50 per share for gross proceeds of $30.0 million. The net proceeds from the sale of the shares, after deducting the underwriters' discounts and other estimated offering expenses payable by the Company, will be approximately $27.8 million. The Company has also granted the underwriters a 30-day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering to cover over-allotments, if any, which would result in additional gross proceeds of $4.5 million if exercised in full.

Optimer Pharmaceuticals Inc. (NASDAQ: OPTR) jumped more than 11% after U.S. regulators said that its antibiotic pill works better than standard treatment in preventing relapses of potentially fatal intestinal infections often caught in hospitals.

Alexander & Baldwin Inc. (NYSE: ALEX) soared as much as 17% after Pershing Square Capital LP disclosed in a regulatory filing that it held a stake in the parent of transport company Matson Navigation.

Ascent Solar Technologies Inc. (NASDAQ: ASTI) plunged more than 18% on Friday, a day after the photovoltaic-cell maker said it would reduce its rooftop solar installations.

Full Disclosure: None.
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