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NetApp and American Capital Mortgage Investment Corporation Among Most Active Stocks in Pre-Market Today on the Nasdaq


Celldex Therapeutics was up this morning.

MINYANVILLE ORIGINAL The three most active funds and stocks in pre-market trading on the Nasdaq were NetApp (NTAP), American Capital Mortgage Investment Corporation (MTGE), and Celldex Therapeutics (CLDX) as of 9:15 a.m. Investors traded 5,233,894 shares of NetApp, which was down $4.41, or 13.42%. Despite meeting analysts expectations for its fiscal year fourth quarter, which ended on April 27 of this year, NetApp shares plunged after it released weaker-than-expected guidance for its fiscal year first quarter. Fourth quarter revenue increased to $1.7 billion, or a 19% from a year ago, slightly beating consensus estimates of $1.68 billion. Non-GAAP net income for the fourth quarter was $252 million, or $0.66 per share, compared to $237 million, or $0.59 per share a year ago. The technology company expects first quarter revenue to range from $1.4 billion to $1.5 billion, or a 12% to 18% sequential decline and a 3% to 4% decline from last year. Investors also traded 1,342,975 shares of American Capital Mortgage Investment Corporation, which was down $0.72, or 3.02%, and 1,218,780 shares of Celldex Therapeutics, which was down $0.34, or 7.98%. American Capital Mortgage Investment Corporation announced that it would be making a public offering of 10 million shares of its common stock. Celldex shares were up after it released the results from mid-stage trial tests of its breast cancer drug CDX-011, which has shown trends in reducing tumors in patients with advanced breast cancer.

Twitter: @ChrisWitrak
No positions in stocks mentioned.
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