While the market is heading down half a percent so far today, several companies are crushing it with big volumes and sizeable gains. Some of the biggest moves have been seen in Annies, Inc (BNNY), Mobileye NV(MBLY), and WhiteWaveFoods (WWAV).
Annies, Inc (BNNY) is up huge today after this mornings announcement that General Mills would buy the company for around $820 million. Coincidentally, back in June there were several very large call buys in the September an December calls for BNNY. Clearly the insiders were discussing the buyout back in June and just made a crap ton of money today on those call buys from way back in June.
Today Annies, Inc (BNNY)is trading at $46.10 up $12.60 or 37.6% today, on volume of over 9.06 million shares traded so far. Annies, Inc (BNNY) shares have an average daily volume of just 306,000. It pays (very well) to be an insider, privvy to buyout info before the general public!
Mobileye NV (MBLY) shares have been on fire this week, with it already trading 25% more than its average daily volume before 11 am. Mobileye NV (MBLY) started climbing higher last Friday and has been tearing it up ever since. MBLY is currently trading at $56.45, up $3.44 or almost 7% so far today. The 52 week high on Mobileye NV (MBLY) is $57.04, hit this morning, while the low is $31.11.
Mobileye NV (MBLY) makes software for camera based driver assistance solutions for vehicles. The company’s shares have been surging since a surge in analyst upgrades from RBC Capital, Raymond James, Barclays, Morgan Stanley, and others.
WhiteWaveFoods (WWAV), has been one of our favorite stocks this summer as the insiders and hedge funds were buying a ton of the call options in this one. So it’s made a lot of money for the call buyers (us included). But we are guessing today’s action is being driven by the Annies buyout by General Mills. Clearly there is some speculation that WhiteWaveFoods (WWAV) could be the next big buyout, given the Annies deal, and given the call buying frenzy a couple months ago. WhiteWaveFoods (WWAV) is now trading at $36.63, up 91 cents so far as of 11 am. WWAV usually only trades about 1.7 million shares per day on average, and has already trade 1.2 million so far.
In addition to the buyout speculation, it doesn’t hurt that JP Morgan upped it’s price target on WhiteWaveFoods (WWAV) to $39.00 from $35.00.
If you look at the options data, more upside is expected as there has been plenty of call buying in the January 40’s and 42.50’s for WWAV. Cha Ching.