Posts Tagged ‘nasdaq’

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Vivus, Inc. (VVUS) – Buzz Stock of the Day

Tuesday, July 13th, 2010

Shares of weight loss drug maker, VIVUS, Inc. (Nasdaq: VVUS) surged as much as 13 percent from Monday’s closing price, in morning trading on Tuesday after the U.S. Food and Drug Administration released documents that showed FDA researchers believe that use of Vivus’ diet drug Qnexa can result in “significant” weight loss. However, the agency raised questions about the drug’s safety.

Vivus shares were up about 34% to $14.25 in Tuesday’s pre-market trading session.

[–quote–]

In the FDA’s review of Qnexa, posted online Tuesday as part of the briefing documents for Thursday’s advisory panel, pooled data from two large phase III studies demonstrated that patients treated with low, medium and high doses Qnexa lost between 3 percent, 7 percent and 9 percent of their body weight, respectively, adjusted for the weight-loss reported for patients treated with a placebo.

Qnexa’s safety and not the drug’s ability to help patients lose weight, was the major concern entering Thursday’s meeting. In its briefing document Tuesday, FDA’s safety review highlights five areas of “particular interest” related to Qnexa — pregnancy risk, psychiatric-related adverse events, cognitive-related adverse events, metabolic acidosis and cardiovascular events. Many of these concerns, however, were expected.

Vivus, in its own briefing documents, said research showing that 68 percent of adults in the U.S. are overweight indicate a clear medical need for Qnexa.

A panel of experts is scheduled to review the drug on Thursday, with the FDA making a regulatory decision in October.

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Posted in Health Care Stocks | No Comments »

Sun Bancorp, Inc. (SNBC) – Buzz Stock of the Day

Thursday, July 8th, 2010

Shares of Sun Bancorp, Inc. (Nasdaq: SNBC) surged 47 percent in morning trading on Thursday after the company announced that billionaire investor, Wilbur Ross will be acquiring a 25 percent stake in the New Jersey-based bank chain.

Ross, who has acquired stakes in banks in Florida and Michigan, said he expects thousands of U.S. banks to fail as a result of the financial crisis. Ross and the bank’s founding Brown family will buy $100 million of common and preferred stock at $4.00 a share, equal to a 24.9% stake, in Sun Bancorp, Inc., the parent of Sun National Bank. The transaction still has to be approved by shareholders.

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The Vineland-based Sun Bancorp, Inc. has $3.5 billion in assets and 70 branches in the state of New Jersey. Ross will join the boards of Sun Bancorp and Sun National, the bank said. Sun National Bank — Sun Bancorp’s main subsidiary — could be the first of many banks Ross acquires in New Jersey, he told the New York Times on Wednesday.

The cash injection would also raise Sun Bancorp’s Tier 1 risk-weighted capital — a common measure of capital strength — to 13 percent or above. The bank said that level was above the 9.5 percent required by the Office of the Comptroller of the Currency under an April agreement.

Check out this interview with Wilbur Ross, conducted in August of last year. Great insight into his views on the banking industry:

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Posted in Financial Stocks | No Comments »

Broadwind Energy, Inc. (BWEN) – Buzz Stock of the Day

Tuesday, July 6th, 2010

Shares of wind power equipment manufacturer, Broadwind Energy, Inc. were up about 37 percent from Friday’s close, in morning trading on Tuesday, after the company announced its subsidiary, Tower Tech, Inc., was selected by Gamesa Technology Corp., a wholly owned U.S. subsidiary of Gamesa Corporacion Tecnologica, to supply structural wind towers for wind sites in the U.S. The towers are expected to be installed in the fourth quarter. The value of the contract was not disclosed.

“Proven experience, flexibility and well-established competencies were key elements in our decision to select Broadwind’s Tower Tech subsidiary to construct our next-generation towers for these projects,” said Jim Buddelmeyer, vice president of purchasing at Gamesa.

The Gamesa deal doesn’t relate directly to sales of wind turbines by Broadwind Energy, Inc., but it was much-needed good news for the green energy stock, which has lost more than half of its value year-to-date.

[–quote–]

Last year was a record-breaking year for the wind power industry, with about 9.8 gigawatts installed. But the industry is in for a 40 to 60% drop this year, with analysts expecting anywhere from 6.3 GW to 7.1 GW to be installed. Key states including Texas, Minnesota and California have historically been wind hot spots. However, tepid utility demand, inexpensive natural gas and transmission congestion have led to a reduction in the number of power purchase agreements that have been signed. While the U.S. has expansive coastal wind resources, offshore is expected to account for only 5 percent of installations by 2025.

Although there have been unprecedented levels of federal support for wind energy, without a federal renewable portfolio standard [RPS] and streamlined transmission and siting processes, the time for projects to become operational will be greatly delayed. According to Bloomberg New Energy Finance: “To compete in the era of low-priced natural gas, the levelised cost of wind generation must drop substantially on a MWh basis. This means the industry cannot sit on its laurels but must re-dedicate itself to technological innovation.”

Trading in Broadwind shares remains volatile, however, trading well below the $8.12 share price at which Broadwind Energy was trading at the onset of 2010. Broadwind shares have traded at $4.00 or below since March.

Broadwind Energy, Inc. was first covered as Buzz Stock of the Day in June 2009, after the company announced a realignment of its management team to advance its business development, international and technology efforts.

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Posted in Energy Stocks, Technology Stocks | 2 Comments »

Buzz Stocks Week in Review – IDT, CWLZ, PEIX, ARNA

Friday, July 2nd, 2010

Average Weekly Gain: 37.3%


Monday: Our Buzz Stock of the Day on June 28, IDT Corp. (NYSE: IDT) had a great week. IDT, which blends a strange pairing of telecom and energy had positive momentumthroughout the week. Shares began their climb on Monday, after a CNBC interview in which CEO Howard Jonas outlined the company’s shale properties and oil extraction technology. IDT’s energy business, Genie Energy, holds IDT’s interests in the American Shale Oil, LLC (AMSO), a joint oil shale research and development venture in Colorado with Total, S.A.; and in Israel Energy Initiatives (IEI), which holds an exclusive shale oil exploration and production license in the Shfela region of Israel. According to Jonas, it costs IDT Corp. $25 per-barrel to extract oil from shale rock. This figure is about $10 less than ultra-deep water fuel extraction — the kind of extraction that was being used by British Petroleum (NYSE: BP) in the Gulf of Mexico.

Up as much as 57 percent since our post.

Tuesday: On Tuesday, we featured Cowlitz Bancorp. (Pink Sheets: CWLZ) as our Buzz Stock of the Day. Cowlitz shares were up about 25 percent from Monday’s close, in morning trading on Tuesday after the company announced that it presented an updated plan to regain compliance with two Nasdaq Listing Rules with which it is not in compliance and requested a 90-day exception to the continued listing standards. Unfortunately, Cowlitz was de-listed from the Nasdaq on Thursday, July 1. Cowlitz received a  delisting determination letter from Nasdaq due to the Company not being in compliance with the minimum 500,000 publicly held shares requirement set forth in Listing Rule 5550(a)(4), on May 12.

Wednesday: Shares of Pacific Ethanol, Inc. (Nasdaq: PEIX) surged almost 60 percent on Wednesday, after the company announced that four of its subsidiaries had emerged out of bankruptcy. The plant subsidiaries, which are now owned by a newly formed holding company, will continue to be staffed, managed and operated by Pacific Ethanol under a fee and profit-sharing arrangement negotiated with the owners of the newly formed holding company. Pacific Ethanol, Inc. eliminated approximately $290 million in debt and other liabilities from its balance sheet. The bankruptcy did not affect the Company’s ownership structure and the Company continues to be owned by its existing common and preferred stockholders.
Up as much as 31 percent since our post.

Thursday: Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) was up 20 percent from Wednesday’s close, in morning trading on Thursday after the company announced that Japanese drug maker, Eisai, Inc. will market Arena’s obesity treatment lorcaserin in the U.S. The U.S. Food and Drug Administration is already reviewing lorcaserin, and a decision is expected on Oct. 22. The main concern with lorcaserin is that patients treated with the drug in two pivotal phase III studies didn’t lose much weight — a little more than 3% on a placebo adjusted basis. The biggest plus in lorcaserin’s corner is the drug’s safety and tolerability, which appear better than competing drugs.
Up as much as 24 percent since our post.

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Posted in Energy Stocks, Health Care Stocks, Industrial Stocks, Penny Stocks, Technology Stocks | No Comments »

Arena Pharmaceuticals, Inc. (ARNA) – Buzz Stock of the Day

Thursday, July 1st, 2010

Shares of drug maker Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) surged 20 percent from Wednesday’s close, in morning trading on Thursday after it was announced that Japanese drug maker, Eisai, Inc. will market Arena’s obesity treatment lorcaserin in the U.S.

“Execution of this commercial agreement is a major milestone in our plans for lorcaserin,” said Jack Lief, Arena’s President and Chief Executive Officer. “We believe in Eisai’s human health care mission to satisfy unmet medical needs and increase benefits to patients and their families.”

Here are a few highlights from the deal:

  • $50 million initial upfront (kind of small when considering the potential of the drug)
  • $90 million upon FDA Approval (PDUFA October 22nd) bringing upfront for US marketing rights to $140 million
  • $1.16B in one-time purchase price adjustments after certain sales goals.
  • 31.5-36.5% of annual Lorcaserin sales

    • [–quote–]
    The U.S. Food and Drug Administration is already reviewing lorcaserin, and an decision is expected on Oct. 22. The main concern with lorcaserin is that patients treated with the drug in two pivotal phase III studies didn’t lose much weight — a little more than 3% on a placebo adjusted basis. The biggest plus in lorcaserin’s corner is the drug’s safety and tolerability, which appear better than competing drugs.

    “With Eisai, we have the right company to market lorcaserin in the United States, the right type of agreement to optimize lorcaserin’s medical and commercial potential and the shared recognition that it is the right time to enter into this agreement to prepare for launch following FDA approval,” Lief said.

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    Posted in Health Care Stocks, Penny Stocks | 1 Comment »

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