Schaeffer's Trading Floor Blog
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Around midday, three of the top market movers are banana peddler Chiquita Brands International Inc (NYSE:CQB), in-flight Internet provider Gogo Inc (NASDAQ:GOGO), and TKM-Ebola developer Tekmira Pharmaceuticals Corporation (NASDAQ:TKMR). Here's a quick roundup of how this trio of names is performing on the charts so far.

  • CQB has soared more than 30% today to trade at $13.13, after receiving a $13-per-share buyout proposal from Cutrale Group and Safra Group. With this gap higher, the shares are now back in the green on a year-to-date basis, and their intraday high of $13.56 wasn't far from annual-high territory at $13.68. However, today's price action isn't good for Chiquita Brands International Inc short sellers, of which there are plenty. In fact, 7.4% of the equity's float is sold short, which would take more than three weeks to buy back, at CQB's average daily trading levels.

  • GOGO is off 6.3% at $14.97, following the company's announcement that its full-year operating profit will finish at the low end of its previous outlook. Taking a step back, it's been a rough year for the stock, which has tumbled nearly 40% in 2014. Short sellers have taken notice, too, as 34.3% of Gogo Inc's float is sold short -- which would take nine sessions to buy back, at the security's average pace of trading. This morning's losses may prompt additional short-selling activity, which could pressure GOGO even lower.

  • TKMR continues to rally in the wake of the Food and Drug Administration's recent decision to permit testing of the firm's experimental Ebola drug. Around midday, the shares are up more than 14% to hover near $23.69, and have nearly tripled in value this year alone. Not surprisingly, Wall Street is bullish toward Tekmira Pharmaceuticals Corporation. All five analysts covering the stock rate it a "buy" or better, and TKMR's average 12-month price target sits at a lofty $29.25. Looking ahead, the company will report second-quarter earnings on Wednesday evening.


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