Archive for October 12th, 2009

Macau Regulatory Risks (WYNN, LVS, MPEL)

Full coverage is over at 24/7 Wall St. of news affecting Macau casino stocks.  The good news is that these have all bounced some from lows, but these are all still lower and on active volume. Wynn Resorts Ltd. (NASDAQ: WYNN) is down almost 3% at $65.90 on 5.9 million shares versus and average volume [...]

KB Home Hit by SEC Issues (KBH, XHB)

KB Home (NYSE: KBH) is being hit after the company disclosed in an SEC filing that the Securities and Exchange Commission is investigating its accounting and disclosure practices.  We show shares down over 5% at $15.60 as of 8:46 AM EST after closing at $16.46 Friday.  The 52-week trading range is $6.90 to $20.70 and [...]

Dendreon Surges on Management Additions (DNDN)

Dendreon Corporation (NASDAQ: DNDN) is surging on news that the company has added two new directors to its board.  These are Ian Clark, the CEO of Roche’s Genentech unit, and Pedro Granadillo, a former Eli Lilly (LLY) manufacturing executive.  These are viewed as top brass to help the company transition from pre-revenue into a revenue [...]

Onyx Pharma Rises Despite It Acquiring Co… (ONXX)

Onyx Pharmaceuticals, Inc. (ONXX) is usually noted as a possible buyout candidate… But today it has announced that it has signed a definitive agreement to acquire Proteolix, Inc.   This is a privately held biotech focused on discovering and developing novel therapies that target the proteasome for the treatment of hematological malignancies and solid tumors.  We [...]

Visa Challenging 52-Week Highs (V, MA)

Visa, Inc. (NYSE: V) is surging on what is still light volume after the stock’s rating was raised to Outperform at Credit Suisse in a call that was ditto with Mastercard (NYSE: MA).  Visa is a lower-priced stock and more active.  We have shares up only about 8,000 shares but the stock is at $74.50 [...]

DepoMed Not Killing Hot Flashes (DEPO)

DepoMed Inc. (NASDAQ: DEPO) is getting slaughtered on news that mixed Phase III clinical data for its menopausal hot-flash treatment Serada was a disappointment. The study for hot flashes drug met only 1 goal at 12 weeks.  Despite the results, Depomed remains hopeful about the program and said it plans to discuss these results with [...]

Tool-Makers Surging (BDK, SNA)

The Black & Decker Corporation (NYSE: BDK) just raised guidance substantially on the earnings front.  The tool maker said it had better-than-expected sales and now sees $0.91 EPS vs. a prior range of $0.35 to $0.45 and versus a Thomson Reuters figure of $0.45 EPS. The expected sales decline still transaltes to 23% and operating [...]

Digital River Flushed by Symantec (DRIV, SYMC)

Digital River, Inc. (NASDAQ: DRIV) is getting crushed this morning after shares were halted pending news (resume time was 7:30) .  The company was informed by Symantec Corporation (NASDAQ: SYMC) that Symantec will not extend its existing e-commerce agreement for a variety of e-commerce-related services.  The pact expires on June 30, 2010, and Symantec expects [...]