PEGA powers up, MGM hot ticket, CERS falls

Pegasystems Inc. (NasdaqGS: PEGA) climbed in price 19.21 percent Wednesday to close at $31.46.  PEGA enjoyed volume of 2,430,406 shares, six times its normal daily volume. The Cambridge, Mass-based CRM solutions company announced Tuesday its 13^th consecutive quarter of record revenue, with the figure climbing 39 percent to $90 Million over the same quarter last year, although net income was down 48 percent to $3.1 Million.

MGM Resorts International Inc. (NYSE: MGM) more than doubled its average daily volume Wednesday, trading in 59,589,549 shares. The resort company’s stock moved ahead 2.88 percent in price to close at $13.38, despite word Wednesday that Atlantic City’s casino gambling revenue fell 12 percent in October, after Pennsylvania and West Virginia added table games and new casinos opened in Philadelphia and Maryland.

Cerus Corporation (NasdaqGM: CERS) had a tough time Wednesday, falling in price 20.89 percent to close trading at $2.50. Volume in CERS shares was 3,905,110, or more than 12 times its normal volume. The dire news came after the Concord, Calif.-based biotechnology company announced a public offering of approximately 7.4 million units. The company is issuing both stock and warrants to buy stock. Each unit consists of one share of common stock and a warrant to buy 0.5 share of common stock. Each warrant will have an exercise price of $3.20 per share and will be exercisable six months after they are issued.

Tags: Biotech Stocks, CERS, MGM, nasdaq, NYSE, PEGA, Technology Stocks

This entry was posted on Wednesday, November 10th, 2010 at 4:46 pm by Glenn and is filed under Technology 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.