Archive for September, 2009

Johnson & Johnson (JNJ) Moves On Boston Scientific (BSX) Settlement

J&J (JNJ) is up a tick to $61.16 and should open higher on news that it had prevailed in a patent dispute with Boston Scientific (BSX). The value of the settlement involving 16 stent patents is $716 million Douglas A. McIntyre

China-Biotics (CHBT) Hurt Due To Stock Offering

China-Biotics (CHBT) is down almost 7% to $16 on news that it has priced a public offering of 4,600,000 shares of its common stock at $15.00 per share. The shares are being sold under the Company’s previously filed shelf registration statement, which was declared effective by the Securities and Exchange Commission on September 9, 2009. [...]

TerreStar Networks (TSTR) Up On AT&T (T) Deal

TerreStar Networks (TSTR) is up almost 17% to $2.50 on news of an agreement between TerreStar and AT&T to bring to market the first fully integrated satellite cellular smartphone. The TerreStar solution will combine AT&T’s wireless connectivity with the ability to use an all-IP satellite network as back up throughout the United States. Using one phone number and [...]

CIT (CIT) Collapsing On Possible Chapter 11

CIT (CIT) is down over a third on news that bondholders may take over the company or it may declare Chapter 11. The stock moved up 40% to $2.20 on a rumor that a hedge fund manager might salvage the company. This morning it is down to $1.26. Douglas A. McIntyre

Hoku Scientific (HOKU) Moving Up On Equity Sale

Hoku Scientific (HOKU) is moving up as much as 30% on news that Tianwei New Energy Holdings Co., Ltd., a leading provider of silicon wafers, photovoltaic (PV) cells, modules and systems,  announced the signing of a definitive agreement providing for a majority investment in Hoku by Tianwei and debt financing by Tianwei and China Construction [...]

BSD Medical (BSDM) On Sale

BSD Medical (BSDM) is up 16% to $3.35 on news that  the University of California, San Francisco Medical Center (UCSF) has acquired a BSD-500 Hyperthermia System (BSD-500). UCSF is a world leader in hyperthermia and has the largest and most versatile hyperthermia program on the West Coast, and its world-renowned Radiation Oncology team has added [...]

Gannett (GCI) Up On Earnings, Financing

Gannett (GCI), the nation’s largest newspaper chain is trading higher by a fraction to $10. The company expects third quarter non-GAAP earnings per diluted share to be between $0.39 and $0.42, excluding special charges. Gannett expects to report total quarterly revenues of between $1.307 billion and $1.320 billion. Gannett also said that it intends to [...]

Walgreen (WAG) Up 7% On Earnings

Walgreen (WAG) beat Wall St. forecasts for its most recent quarter and that has moved shares up 7% to $36.69, well above its previous 52-week high of $34.81. Net earnings for the quarter ended Aug. 31 were $436 million or 44 cents per diluted share, including the impact of 3 cents in costs and 7 [...]

Sequenom (SQNM) Down 45% On CEO Exit, Trial Quesitons

SEQUENOM (SQNM) is off 45% to $3.18 on news that the company’s board of directors have concluded that as a result of the company’s attempted transition from researching potential molecular diagnostic tests to developing and commercializing those tests, the company failed to put in place adequate protocols and controls for the conduct of studies in [...]

MBIA (MBI) Hit By S&P Downgrade

MBIA (MBI) is trading down 7% to $7.65 on news that its bond insurance unit has been cut to a junk rating by S&P Douglas A. McIntyre