IPCI aces, WFC busy, MAG ragged

Posted on Wednesday, January 19th, 2011

Intellipharmaceutics International (Nasdaq: IPCI) went higher 18 percent to close Wednesday at $6.04. Volume of 181,460 shares ran away from its full-day average of 27,753. IPCI is a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled release and targeted release oral solid dosage drugs.

Wells Fargo & Company (NYSE: WFC) dealt in 50,557,742 shares, topping its full-day average of 33,984,900. Share prices dropped, however, by 1.9 percent to $31.86. WFC posted net income attributable to common shareholders of $3.2 billion, or 61 cents per share, matching analyst expectations. Last year, profit of $394 million, or eight cents per share, was sharply reduced by preferred dividends paid under the government bailout.

Magnetek Inc. (NYSE: MAG) surrendered 15.4 percent Wednesday to $1.65. Volume of 271,367 shares more than doubled its average daily volume of 106,631. MAG, which provides digital power control systems North America, announced Wednesday it would release second-quarter financial numbers on Feb. 9.

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