Morning Movers 04/12: (FIO) (PRGN) (CYT) Higher; (OPHC) (NEWL) (AVID) Lower

April 12, 2012 10:53 AM EDT
OptimumBank Holdings (Nasdaq: OPHC) 22.8% LOWER; traders in this recent momo stock are taking profits Thursday following a whopping 152 percent surge yesterday. Volume remains very heavy today.

NewLead Holdings (Nasdaq: NEWL) 17.2% LOWER; profit taking following a 22 percent surge on Monday, and 78 percent moves higher on both Tuesday and Wednesday.

Avid Technology (Nasdaq: AVID) 15.5% LOWER; cuts Q1 outlook: sales of about $152 million, which compares to the Street estimate of $ million, and an adjusted operating loss of about $8 million. The Street is currently expecting Q1 sales of $161.08 million and a per share gain of 3 cents.

Fusion-IO (NYSE: FIO) 12.2% HIGHER; traders likely buying today following an earlier Piper Jaffray note which speculates the company is working on a new OEM deal with Cisco (Nasdaq: CSCO).

Paragon Shipping (Nasdaq: PRGN) 11.4% HIGHER; the entire drybulk shipping sector is absolutely on fire today. Elsewhere: TOP Ships (Nasdaq: TOPS) up 47 percent, Freeseas (Nasdaq: FREE) up 37.3 percent, Sino Global (Nasdaq: SINO) up 20.9 percent.

Cytec Industries (NYSE: CYT) 11.1% HIGHER; Cytec UK Holdings Ltd., a private limited company incorporated in England and Wales which is indirectly wholly-owned by Cytec Industries Inc., issued an announcement pursuant to Rule 2.7 of the United Kingdom City Code on Takeovers and Mergers disclosing that Cytec UK and the Board of Umeco plc, a public limited company incorporated in England and Wales had agreed on the terms of a recommended cash offer of 550 pence per share to be made by Cytec UK for the acquisition of the entire issued and to be issued share capital of Umeco.

City Telecom (HK) Limited (Nasdaq: CTEL) 11% LOWER; continuing lower following news on Tuesday the company has agreed to sell its Telecom unit for HK$4.95 billion to Metropolitan Light. Shares were down about 5 percent yesterday.

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