Hot Stocks Of The day (ALXA, CELG, CASY, CECO, OSH, POWI)

Alexza Pharmaceuticals Inc (NASDAQ:ALXA) decreased 89.95% to $3.65 on a thickly traded volume of 2.28 million shares. The stock opened at $3.13. The Company announced a 10-for-1 reverse split of its common stock.  The reverse stock split is effective and Alexza's common stock will begin trading on The NASDAQ Global Market on a split-adjusted basis on June 13, 2012.

Celgene Corporation (NASDAQ:CELG) increased 1.35% to $63.92. The Board of Directors authorized the buyback of up to an additional $2.5 billion of the common stock. This open-ended program is effective immediately. Celgene International Sarl announced its results from a study of ABRAXANE in combination with gemcitabine in patients with resectable pancreatic cancer.Jefferies Group restated a buy rating on the stock.

Casey's General Stores Inc (NASDAQ:CASY) declined 11.12% to $53.25 after the Company announced fourth quarter results. Profit was $23.1 million compared to $22.8 million in the prior year period. Earnings were unchanged at 60 cents. Revenue increased 13% to $1.75 billion. However, analysts projected earnings of 67 cents on revenue of $1.74 billion. Gasoline sales rose 2.5% by gallon volume on a same-store basis. Same-store sales for groceries and other merchandise increased 8.5% while segment margin grew to 33% from 32.1%.

Career Education Corp (NASDAQ:CECO) plunged 7.09% to $5.77. The Company has received notice from the Accrediting Commission of Career Schools and Colleges to show cause why its accreditation at 10 of its institutions should not be withdrawn. This is a move that comes as the accreditor cracks down on student employment placement practices at the for-profit education company.

Orchard Supply Hardware Stores Corp (NASDAQ:OSH) declined 0.13% to $15.91 after the Company announced first quarter results. Net sales were $155.0 million compared to $163.8 million in the prior year period. Comparable store sales decreased 3.1% due to softness in outdoor and seasonal merchandise during the period. Net loss was $4.5 million compared to net loss of $1.0 million in the first quarter of fiscal 2011.

Power Integrations Inc (NASDAQ:POWI) went down 3.75% to $39.44. Sterne Agee reduced the rating on the stock from buy to neutral and the price target is set at $43.