Archive for September 30th, 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 [...]