GO
Loading...

Enter multiple symbols separated by commas

Hot Stocks: Alnylam, Green Energy Plays Among Monday's Movers

Big contract wins and corporate dealmaking were some of the catalysts behind Monday's most actively traded stocks.

Shares of Alnylam Pharmaceuticals jumped more than 50% after the tiny drug developer said it inked a deal with Swiss drug giant Roche to develop Alnylam's gene-silencing technology in order to fight diseases.

The deal, which has Roche making an upfront payment of $338 million with the potential for future milestone payments of $1 billion, is one of the largest in the nascent but promising research area. Alnylam rival Sirna Therapeutics was acquired by Merck earlier this year for more than $1.1 billion.

Green energy outfit First Solar surged to new all-time highs on Monday after the company said it signed new contracts which should result in future sales of more than $1.2 billion. Tiny energy company Beacon Power, which is developing "flywheel technology" in order to harness kinetic energy, also saw shares move higher on Monday.

Schnitzer Steel Industries gained after the steelmaker reported strong quarterly results on Monday morning. The positive results came in ahead of an earnings update from basic materials giant Alcoa set for release Monday after the close of trading.

Sigmatel shares saw big gains after the specialty chipmaker boosted second-quarter guidance, citing improved sales across the board. The Austin, Tex.-based company now expects second-quarter sales in a range of $30 to $31 million, compared with previous guidance of $24 to $28 million.

"We believe we have strong momentum going into the third quarter and are looking forward to sharing more good news during our second quarter conference call," Chief Executive Phil Pompa said in a prepared statement. Sigmatel said it will host the call later this week.

Peter Kang is a markets writer at CNBC.com and can be reached at peter.kang@nbcuni.com.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Hero miles for military members: Real estate magnate's plea

    Chairman of the Fisher House Foundation, Ken Fisher, discusses the Hero Miles program with CNBC's Dina Gusovsky. During Military Appreciation Month, Fisher is asking every traveler to donate 1,000 of their miles to replenish the Hero Miles programs that is in danger of running out.

  • Cramer shuts down this market's haters

    "Mad Money" host Jim Cramer on why this market can't stop, won't stop.

  • From the battlefield to the boardroom

    Your Grateful Nation is dedicated to helping Special Forces veterans enter the corporate world and Knot Standard provides complimentary suits to vets. Mad Money's Jim Cramer spoke with Rob Clapper, Your Grateful executive director; John Ballay, Knot Standard co-founder and president; Tej Gill, retired U.S. Navy Seal; and Darren McB, active duty U.S. Navy Seal.