Volume Spike Investor

AMAG Pharmaceuticals Inc. (Nasdaq: AMAG) are up about 6 percent with more than 17,000 shares traded as of 8 a.m. Eastern this morning, after the FDA approved the company’s Feraheme drug as an iron replacement therapy for patients with chronic kidney disease.

The approval removes an overhang for the company. It first sought FDA approval for the drug in December 2007, and twice received requests for more information on it last year.

The company expects to make Feraheme available in late July. — Mike Tarsala

UBS shares (NYSE: UBS) shares are ones to watch Wednesday, as hope of a settlement in a suit that seeks to make the company identify potential U.S. tax evaders with Swiss accounts appears to be fading.

The Justice Department said in a Florida court brief that it will seek to enforce tax compliance with the “full weight’ of the law.

In related news this morning, rival Swiss bank Credit Suisse (NYSE: CS) said it will provide  names of clients holding French securities to French authorities, to comply with a treaty signed earlier this month between France and Switzerland. — Mike Tarsala

Myriad Genetics (Nasdaq: MYGN) shares are down more than 15 percent on very strong premarket trading volume as of 7:40 a.m. Eastern. The company last night said it expects fiscal Q4 revenue of $86 million, shy of the $91.6 million analysts had anticipated, citing high unemployment and patients cancelling or delaying doctor visits.

Several analysis firms including Oppenheimer and RBC Capital have downgraded the company’s shares this morning, with several citing worries about revenue growth rates. — Mike Tarsala

LDK Solar Co. (NYSE: LDK) shares are active, up about 3 percent on more than 5,000 shares in very early premarket trading after the company announced plans to build five photo-voltaic plants in Italy’s Apulia region.

With help from private systems integrator SAEM Srl, LDK solar will build five one-megawatt plants. Construction will start in July and is expected to be completed by November of this year. LDK Solar will supply the solar wafers for the project, while its partner will provide engineering, procurement, construction services and system integration.  — Mike Tarsala

Oshkosh Corp. (NYSE: OSK) shares are up more than 20 percent in early premarket trading after the company was awarded a $1.06 billion fixed-price contract to from the U.S. Army for 2,244 MRAP mine-resistant All-Terrain Vehicles for use in Afghanistan. The Pentagon could order thousands more of the vehicles.

Other stocks to watch today on the news are the companies that Oshkosk beat out to provide the vehicles, including rival BAE Systems (BAESY) and Navistar International Corp. (NYSE: NAV), which has a joint venture between small-cap Force Protection Inc. (Nasdaq: FRPT) and General Dynamics Corp. (NYSE: GD) — Mike Tarsala

Steel stocks are among the laggards Tuesday after disappointing results from Schnitzer Steel Industries Inc. (Nasdaq: SCHN) and a lackluster consumer confidence report that helped spur lower commodity prices.

Schnitzer is weighing most heavily on the group, down more than 10 percent as of noon Tuesday, on more than twice its normal volume. The company missed earnings expectations by 21 cents a share, and revenue fell 58 percent from the same period a year earlier. The company cited weak demand in both the non-residential and infrastructure construction markets in its steel manufacturing business. The company expects the construction market weakness to continue through the rest of the year.

Among other steel names, United States Steel Corp. (NYSE: X), Commercial Metals Co. (NYSE: CMC) and Reliance Steel & Aluminum Co. (NYSE: RS) all are down more than 3 percent on moderate volume. Nucor Corp. (NYSE: NUE) shares are down more than 2 percent. AK Steel Holding Corp. (NYSE: AKS) is down more than 1 percent.  — Mike Tarsala

CytRx Corp. (Nasdaq: CYTR) shares are up 8%, near $1 a share, and have traded a day’s average daily volume in the first two hours of trading after the company filed a report with the FDA offering data to support continuation of one of its key Phase II clinical trials.

“We are confident that the information included in this report, including results from a detailed animal toxicology study, sufficiently addresses the agency’s concerns,” said Steven A. Kriegsman, CytRX CEO, in a statement.

The company expects the FDA to review its report supporting continuation of the Phase II trial for dr candidate arimoclomol in Lou Gherig’s disease. The FDA had placed a partial hold on the trial in January 2009 — Mike Tarsala

Shares of refiner Sunoco Inc. (SUN) are down more than 2 percent, and have traded roughly a third of their average daily volume in the first 75 minutes of trading on Tuesday. Goldman Sachs early this morning cut its rating on Sunoco, noting rising gasoline inventories and new refineries coming on that could further boost supplies, potentially hurting prices.

Also, oil has dropped below $70 a barrel, with refiners lagging the overall market. ConocoPhillips (NYSE: COP) shares are down 1.7% on slightly above-average volume for this time in the session. Hess Corp. (NYSE: HES) shares are down nearly 3 percent, also on slightly elevated volume. Occidental Petroleum Corp. (NYSE: OXY) shares are down roughly 2 percent on average volume. — Mike Tarsala

Sunrise Senior Living Inc. (NYSE: SRZ) shares are down nearly 20, and have traded almost a day’s average volume in the first hour of the session after real estate investment trust HCP Inc. (NYSE: HCP) alleged a Sunrise contract breach. HCP  wants to  terminate agreements on 64 properties operated by Sunrise, alleging that they’re being run to the detriment of HCP. — Mike Tarsala

Starbucks Corp. (Nasdaq: SBUX) shares are down roughly 4% as of 10:15 a.m. Eastern, trading roughly a third of its aveage daily volume in the first 45 minutes of trading. The stock appears to be cooling following the release of industry data from NPD Group that showed gourmet coffee and tea sales fell 12.6% from year-ago levels. Also, contacts say that a top-tier brokerage suggests Starbucks same-store sales in June may have fallen more than analysts are anticipating. — Mike Tarsala.