Synacor Soars ( DNDN, SYNC, BRCM, S )

Synacor Inc Hits Life Time High (DNDN, SYNC, BRCM, S)

Dendreon Corporation(NASDAQ:DNDN) shares are showing volatile moves in today’s session with the stock was recently trading higher by 4.23% to $10.35 after falling about 1.50% earlier in the session. The stock swung higher on renewed rumors that the company may be an acquisition target, Amgen (Nasdaq: AMGN) is consider as a strong candidate. This is not the first time; the rumors are circulating, even in the past we have seen such large swings based on unreliable speculation following the company appointed John Johnson as CEO of the company, who has better history in making M&A deals.
Synacor Inc(NASDAQ:SYNC) is showing solid up move with the stock surging over 16% to $7.09 after hitting an all-time high of $7.25 earlier in the session. This morning analyst at Needham & Company initiated a buy coverage on the stock with a price target of $8. The stock was listed in Mid Feb on Nasdaq and priced at $5. Recently, the company reported its fourth-quarter results and said that it earned $1.0 million or $0.34 a share on revenue of $28.9 million. On an adjusted basis, it earned 34 cents a share. The company projects to generate $29.0 million to $29.5 million in revenues in the first quarter of fiscal 2012.
Broadcom Corporation(NASDAQ:BRCM) is also trading higher by 0.50% to $38.57 after the company said that it has reached a deal to acquire BroadLight, Inc., a Delaware corporation with an Israel-based subsidiary. The company has agreed to pay around $195 million, net of cash assumed, to acquire all of the outstanding shares of capital stock and other equity rights of BroadLight.
Sprint Nextel Corporation(NYSE:S) shares have been news recently with the stock was downgraded by analyst at Bernstein to underperform, citing the "risk is rising" of a bankruptcy for the moss making carrier. The company has been reporting losses over the past consecutive years. The stock is now trading higher by 0.55% to $2.77. Also, this morning, Techcrunch reported that the Galaxy Nexus will show up on Sprint shelves on April 15.