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Sirius XM Radio and Arena Pharmaceuticals Among Most Active Stocks in Pre-Market Today on the Nasdaq


Fossil was down this morning.

MINYANVILLE ORIGINAL The three most active funds and stocks in pre-market trading on the Nasdaq were Sirius XM Radio (SIRI), Arena Pharmaceuticals (ARNA), and Fossil (FOSL) as of 9:00 a.m. Investors traded 5,705,113 shares of Sirius XM Radio, which was up $0.11, or 4.85%. Investors traded 768,669 shares of Arena Pharmaceuticals, which was up $0.24, or 8.82%, and investors traded 380,638 shares of Fossil, which was down $31.97, or 25.42%. Shares of Arena Pharmaceuticals rose in morning trading as some investors hope that the FDA will approve the company's obesity drug Lorcaserin on May 10. Fossil shares plunged this morning on the news that it missed analysts' first-quarter estimates. Analysts expected the fashion accessory maker to report earnings of $0.92 per share on $617.6 million in revenue instead of the company's announced earnings of $0.93 per share on $589.5 million in revenue. Despite the stronger-than-expected earnings, investors worry that the weak economies in Europe will continue to hurt the company's revenue numbers as lower-than-expected sales occurred in Europe.

Twitter: @ChrisWitrak
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