By Jon "DRJ" Najarian
Strength in Airport Scanners
This is one of Guy Adami's favorites that has been featured on Advantage Point, and The Negotiator has NAILED this pick! I see that the Netherlands will start using full-body scanners in the wake of the attempted Northwest Airlines bombing last week, and guess who makes those airport security devices? That's right, L-3 (LLL). Shares are trading at $88.50 in the pre-market on our Heat Seeker system this morning after closing at $87.18.
Other Security Plays Rise
LLL isn't the only security stock that's red hot Wednesday morning. A listed of names we posted Monday is doing rather well, as ICXT is up from $5 to $6.70, COGT up from $9.94 to $10.51, and ID up from $6.65 to $7.19. IW up slightly though pretty much unchanged, and LCRD is down a bit. We are also keeping an eye on American Science & Engineering, which is trading up another buck, and OSI Systems (OSIS) and Analogic (ALOG), which are both moving higher.
China Battery Maker Deflated
Tuesday we reported the unusual activity in shares of China BAK Battery (CBAK) and took a big profit on the move. That stock took off on rumors that the company got a large contract from Google (GOOG) to make batteries for its new phone. Wednesday the Chinese company's CFO says he is unaware of any reason for the share increase and that the CBAK has not won any orders from GOOG. Now you know why we said hit the exit button yesterday, as shares are trading right back to $2.68 this morning on our Depth Charge program after closing at $3.64 yesterday.
(Chart courtesy of tradeMONSTER)