Amgen (NASDAQ:AMGN) had a strong quarter. Biotech has been the most active part of the market in terms of trading volume. Amgen is the category’s grandfather.
The company reported EPS of $1.49 for the third quarter of 2009, an increase of 21% compared to $1.23 for the same period a year ago. Adjusted net income increased 16% to $1.518 billion in the third quarter of 2009 compared to $1.308 billion in Q3 2008. Read More
Reuters: Apple (NASDAQ:AAPL) beat earnings forecasts.
Reuters: The IRS is probing some homebuyers’ tax credit gains.
Reuters: The US is ready to bring more insider trading cases.
Reuters: More US companies are cutting bonuses. Read More
These are this morning’s top day trader alert stocks with more detailed data on price, volume, and further analysis with links to each stock over at VSInvestor.com:
You can join our open email distribution list to get updates on top analyst upgrades and downgrades, top day trader alerts, IPO’s, secondary offerings, Warren Buffett and other guru activity, M&A and more.
JON C. OGG
OCTOBER 19, 2009
These are the top early-bird analyst upgrades and positive research calls which we have seen from Wall Street early this Monday morning:
Advanced Micro Devices (NYSE: AMD) Raised to Buy at UBS.
Amgen (NASDAQ: AMGN) Raised to Buy at UBS.
Black & Decker (NYSE: BDK) Started as Overweight at Barclays.
Bristol-Myers Squibb (NYSE: BMY) Added to Goldman Sachs Top M&A List.
Citrix Systems (NASDAQ: CTXS) Raised to Hold at Jefferies.
Kroger (NYSE: KR) Raised to Overweight at JPMorgan.
Mastercard (NYSE: MA) Raised to Outperform at Credit Suisse.
PG&E (NYSE: PCG) Raised to Buy at Jefferies.
Polaris (NYSE: PII) Raised to Buy at Citigroup.
Symantec (NASDAQ: SYMC) Raised to Buy at Jefferies.
Visa (NYSE: V) Raised to Outperform at Credit Suisse.
VMware (NYSE: VMW) Raised to Hold at Jefferies.
You can join our open email distribution list to get updates each morning on analyst upgrades and downgrades, top day trader alerts, IPO’s and secondary offerings, Warren Buffett and other guru activity, M&A and more.
JON C. OGG
Updated throughout the day.
Update: Xerox (XRX) may find that IBM (IBM) or HP (HPQ) outbid it for ACS (ACS) (Barron’s)
Update: Apple (AAPL) may be working on a touchscreen remote for an upcoming TV product. (The Boy Genius Report)
Update: Sequenom (SQNM) is recovering some losses, perhaps due to rumors it may be sold (TheStreet)
Warner Music (WMG) may be near a licensing deal with Google’s (GOOG) YouTube. (WSJ)
Hedge fund manager John Paulson may try to merge CIT (CIT) with IndyMac Federal Bank (NYPost)
Cytokinetics (CYTK) continues to rise despite denying rumorsthat it may be bought by Amgen (AMGN) (DJ Newswires).
AMD (AMD) could be at riskfor bankruptcy. (MarketWatch)
Alexion Pharmaceuticals (ALXN) and Vertex Pharmaceuticals (VRTX) may be acquisition targets. (The Deal)
Douglas A. McIntyre
These are this Monday’s top day trader and active trader alert stocks in the pre-market. We have more details on each for volume and price moves at VSInvestor.com:
Delta Petroleum Corporation (NASDAQ: DPTR) is getting whacked and battered today on poor well results. It was a very bad weekend as shares are down 35%.
Amgen Inc. (NASDAQ: AMGN) is up over 2% and actually close to 52-week highs on positive study data.
Perot Systems Corp. (NYSE: PER) is up huge by 65% or more, but traders are selling as this is a huge premium and above what many would have expected. Dell Inc. (NASDAQ: DELL) is going to be accused of overpaying.
Lennar Corp. (NYSE: LEN) is down 4% on somewhat active volume after posting wider losses.
Potash Corp. of Saskatchewan (NYSE: POT) is down almost 5% and not as much as it could have been… Lower guidance is hurting shares, look at Mosaic Co. (NYSE: MOS) on this one as well.
You can join our open email distribution list which goes out several times per week for top day trader alerts, analyst upgrades and downgrades, IPO’s, key secondary offerings, guru investor data on Buffett and others, mergers, and more. We also have an affiliate offering a top 10 trading lessons sign-up.
JON C. OGG
It usually takes an event or a series of events for biotech stocks to ever look cheap compared to the overall market or even to sub-sectors within health care. They generally trade at higher multiples of revenues and with high P/E ratios, assuming they even have real sales-generated revenues and earnings. But in today’s climate there are many of the large key biotech stocks that are now trading with market-discounts on the P/E ratios and on multiples of revenues as valuation metrics. We ran a full screen for BioHealthInvestor.com and some of the key names that came up with low P/E and revenue multiples were Amgen Inc. (NASDAQ: AMGN), Biogen Idec Inc. (NASDAQ: BIIB), Cephalon Inc. (NASDAQ: CEPH), Cubist Pharmaceuticals Inc. (NASDAQ: CBST), Genzyme Corporation (NASDAQ: GENZ), and PDL BioPharma, Inc. (NASDAQ: PDLI).
There are generally some reasons that have gotten these to cheap screening levels, but some of these are showing significant value for a sector that usually commands a high-premium to most sectors. Amgen has recovered substantially from its woes, and Biogen has as well. Genzyme’s troubles allowed it to make the screen with some key caveats, and the valuation screens elsewhere showed that Cephalon, Cubist, and PDL are worth a look. All of these companies were also well above our screening threshold of $400 million in market cap and average volume of 250,000 shares or more. These all came in above $1 billion in market cap and most never see under 1 million shares per day in average volume.
The full story is available at BioHealthInvestor.com.
-The 24/7 Wall Street Team
These are the ten top analyst upgrades,downgrades, and initiations we have seen early this Friday morning with roughly two hours until the market opens:
Amgen (AMGN) Cut to Hold at Citigroup.
Avery Dennison (AVY) Raised to Overweight at JPMorgan.
Columbia Sportswear (COLM) Raised toOverweight at Barclays.
Descartes Systems (DSGX) Started as Overweight at Thomas Weisel.
eHouse China (EJ) Raised to Outperform at Oppenheimer.
JA Solar (JASO) Cut to Equal Weight t Barclay.
King Pharma (KG) Cut to Hold at Needham.
Select Comfort (SCSS) Reinitiated as Buy at KeyBanc.
SunPower (SPWRA) Started as Buy at Needham.
Tenet Healthcare (THC) Raisd to Outperform at Baird.
JON C. OGG
August 14, 2009
These are the top 10 pre-market analyst upgrades and downgrades in Wall Street research calls this Tuesday morning:
Amgen (AMGN) Started as Buy at RBC.
Brightpoint (CELL) Raised to Buy at Citigroup.
Echelon (ELON) Raised to Neutral at Piper Jaffray.
Echostar Holdings (SATS) Raised to Buy at Citigroup.
Kroger (KR) Started as Buy at Deutsche Bank.
QLogic (QLGC) Raised to Outperform at RBC.
MBIA Inc. (MBI) Cut to Underweight at JPMorgan.
PETsMART (PETM) Cut to Neutral at JPMorgan.
Sprint Nextel (S) Cut to Underweight at Piper Jaffray.
YUM! Brands (YUM) Cut to Neutral at UBS.
JON C. OGG
AUGUST 11, 2009
The following are some of the top stocks to watch for active trading today based on pre-market and after-hours volume activity. There are links through to more detailed coverage and volume analysis at VSInvestor.com:
SPSS Inc (Nasdaq: SPSS) shares are up 41 percent after getting a $1.2 billion takeover offer from IBM.
United States Steel Corp. (NYSE: X) shares are falling in very active trade after it missed revenue expectations and said its outlook for overall steel demand remains uncertain.
Vical Inc. (Nasdaq: VICL) shares up strongly as one of the most active premarket issues after it received a direct investment.
Amgen Inc. (Nasdaq: AMGN) shares are seeing wishy-washy trading after earnings and a partnership.
Ariad Pharmaceuticals (Nasdaq: ARIA) are among the most active premarket stocks, following positive preliminary clinical data.
Deutsche Bank AG (NYSE: DB) shares are down 8 percent in very active premarket trading after reporting a larger provisions for credit losses.
Coach Inc. (NYSE: COH) shares are down more than 5 percent in the premarket on reporting earnings that were merely in line.
LaserCard Corp. (Nasdaq: LCRD) is among the biggest premarket percentage gainers after beating earnings expectations by 18 cents a share.
Check Point Software Technologies Ltd. (Nasdaq: CHKP) shares are rising in active premarket trade after beating EPS by 2 cents a share.
-The 24/7 Wall St. Team
Reuters: The recession has badly hurt investments in green technologies.
Reuters: Obama called for deeper China ties with the US.
Reuters: BP’s (BP) profits fell sharply.
Reuters: Bank of America (BAC) will cut 10% of its branches Read More
Bristol Myers Inc. (NYSE: BMY) plans to spend $2.4 billion to buy partner Medarex Inc. (Nasdaq: MEDX). It will get a great deal beyond the cancer monoclonal antibody that developed together.
The Medarex pipeline has substantial value.
The monoclonal antibody ipilimumab is by far the main reason that Bristol pulled the trigger. It is currently in Phase III trials for both metastatic melanoma and hormone-refractory prostate cancer. Read More
Safety and efficacy data are critical to drug candidates. But what really makes a potential drug attractive is strong top-line data, a new biotech-based treatment, and a massive potential market.
With help from Thomson Pharma and our own backlog of coverage, BioHealthInvestor.com, a 247wallst.com website, sought to find the most promising biopharmaceutical candidate from both biotech and pharmaceutical companies in each of the top 10 most prevalent medical conditions in the U.S. Read More
These are some of the top stories affecting key drug and biotech stocks that are covered with more in-depth details and analysis this morning at BioHealthInvestor.com:
Amgen Inc’s (Nasdaq: AMGN)’s osteoporosis drug did so well in a head-to-head Phase III trial vs. the current standard drug from Novartis Inc. (NYSE: NVS) that the Amgen’s drug may become the new standard for patients with breast cancer.
Amylin Pharmaceuticals Inc. (Nasdaq: AMLN), along with partners Eli Lilly & Co. (NYSE: LLY) and Alkermes Inc. (Nasdaq: ALKS), announced its new drug application for a once-weekly version of Byetta will be reviewed by the FDA, which may help invigorate growth for the franchise.
Vical Inc. (Nasdaq: VICL) announced a positive four-month interim analysis for what is arguably its second-largest market opportunity, taking potentially another small step toward the goal of attracting a partner for its herpes vaccine program.
SciClone Pharmaceuticals Inc. (Nasdaq: SCLN) shares are down more than 7 percent on revenue and secondary offering fears. And Arena Pharmaceuticals Inc. (Nasdaq: ARNA) shares are falling after another dilutive offering.
Also, see our in-depth feature this week on five of the fastest-growing biotechs with improving analyst estimates: Alnylam Pharmaceuticals Inc. (Nasdaq: ALNY), Amicus Therapeutics Inc. (Nasdaq: FOLD), Halozyme Therapeutics Inc. (Nasdaq: HALO), American Oriental Bioengineering Inc. (NYSE: AOB), and Stemcells Inc. (Nasdaq: STEM).
-The 24/7 Wall St. Team
These are some of the top stocks for day traders and active traders to watch based on pre-market and after-hours volume activity with links to more detailed price and volume analysis on each situation at VSInvestor.com:
-The 24/7 Wall St. Team
Novartis AG (NYSE: NVS) shares are at session highs and well of the lows of the day in the early afternoon Thursday after Japan okayed one of the company’s human growth hormones, the first approval in Japan of a generic biotech drug. With the recent talks of President Obama wanting generic biologics, the approval process in Japan is probably not an isolated event and should not be ignored for broader implications.
Read More
We have compiled an updated lengthy 2009 American Society of Clinical Oncology, or ASCO, document showing many company cancer data presentations slated to start this weekend. This is broken down in drug and biotech companies with share values, ranges, and recent developments for the following drug and biotech companies: Abraxis BioScience, Inc. (NASDAQ:ABII), AEterna Zentaris Inc. (NASDAQ: AEZS), Allos Therapeutics, Inc. (NASDAQ: ALTH), Amgen Inc. (NASDAQ: AMGN), A.P. Pharma, Inc. (Nasdaq: APPA), Arqule Inc. (NASDAQ: ARQL), Bristol-Myers Squibb (NYSE: BMY), Celldex Therapeutics (NASDAQ: CLDX), Celgene Corporation (NASDAQ: CELG), Cell Therapeutics (NASDAQ: CTIC), Cougar Biotechnology, Inc. (NASDAQ: CGRB), Eli Lilly and Company (NYSE: LLY), Exelixis (NASDAQ: EXEL), Genomic Health, Inc. (NASDAQ: GHDX), GlaxoSmithKline (NYSE: GSK) , Immunogen (NASDAQ: IMGN), Medarex (NASDAQ: MEDX), Medivation, Inc. (NASDAQ: MDVN), Micromet, Inc. (NASDAQ: MITI), OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI), OSI Pharmaceuticals (NASDAQ: OSIP), Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM), Pfizer Inc. (NYSE: PFE), Rosetta Genomics (NASDAQ:ROSG), Synta Pharmaceuticals (NASDAQ: SNTA), Trubion Pharmaceuticals, Inc. (Nasdaq: TRBN), ZIOPHARM Oncology (NASDAQ: ZIOP), and ZymoGenetics, Inc. (NASDAQ: ZGEN).
The full presentation can be seen at BioHealthInvestor.com.
JON C. OGG
May 27, 2009
These are some of the top pre-market analyst upgrades and positive research calls we have seen from Wall Street this Wednesday morning with more than two hours until the market opens:
Alcatel-Lucent (ALU) Raised to Neutral from Sell at Goldman Sachs.
Amgen (AMGN) Started as Outperform at Wachovia.
HSBC (HBC) Raised to Neutral at JPMorgan.
Infineon Technologies (IFX) Raised to Buy at BofA/Merrill.
Semtech Corp. (SMTC) Raised to Outperform at Oppenheimer.
Walt Disney (DIS) Raised to Overweight at Barclays.
WebMD (WBMD) Raised to Accumulate at ThinkEquity.
JON C. OGG
These are among the top research calls and analyst upgrades and downgrades we have seen early this Friday morning with over two hours until the open:
Amgen (AMGN) Raised to Outperform at Baird.
Credit Suisse (CS) Raised to Neutral at UBS.
CardioNet (BEAT) Started as Underperform at Jefferies.
Devry (DV) Cut to Neutral at Baird.
Marriott (MAR) Cut to Market Perform at FBR.
Microsoft (MSFT) Raised to Overweight at Morgan Stanley.
Research In Motion (RIMM) Raised to Buy at Citigroup.
Sunpower (SPWRA) Cut to Sell from Neutral at Merriman Curhan Ford.
Toll Brothers Inc. (TOL) Cut to Market Perform at KBW.
JON C. OGG
Amgen Inc. (NASDAQ: AMGN) has posted some very highly anticipated and uninteresting earnings. The biotech giant reported $0.98 EPS net and $1.08 non-GAAP EPS on $3.31 billion in revenue, while Thomson Reuters had estimates of $1.15 in non-GAAP EPS and $3.63 billion in revenue.
Read More
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