CFS, ARTG, CCUR – Buzz Stocks With Unusual Activity

Comforce Corp. (AMEX: CFS) advanced 53.71% in the opening half-hour of trading to $2.49, on 299,974 shares, compared to a daily average of 9,408 shares. The volume and sharp rise comes amid news that the company agreed to be taken over by an affiliate of ABRY Partners for $2.50 per share of common stock, a premium of approximately 77.4% over Comforce’s 30-day average closing stock price, and a 52-week high for the issue. Comforce Corporation is a leading provider of outsourced staffing management services.

Art Technology Group Inc. (Nasdaq: ARTG) leaped 45.49% to $5.97, on volume of 41,975,948 shares, towering above its three-month daily average of 1,135,700 shares, on the verge of an announcement that Oracle was about to buy ATG for $1 billion, thus adding the maker of e-commerce software to Oracle’s business-software offerings. Oracle will pay $6 a share, a 46% premium to Monday’s closing price and a level last seen in 2001 as the Internet bubble was still deflating.

Concurrent Computer Corporation (Nasdaq: CCUR) took it on the chin 30.43% to $4.80 in the first hour of trading, on early volume of 262,578, compared its daily three-month average of 32,128 shares. The news comes a day after Concurrent declared disappointing third-quarter figures. The company, a worldwide leader in video and media data and advertising solutions, reported revenue for the quarter of $15.5 million, with a loss of 14 cents a share. The stock’s 52-week range bottomed out at 3.38 and peaked at 7.31

Tags: amex, ARTG, CCUR, CFS, nasdaq

This entry was posted on Tuesday, November 2nd, 2010 at 11:24 am by admin and is filed under Consumer Discretionary Stocks, Consumer Staples Stocks, Financial Stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.