Ambac Financial Group, Inc. (NYSE: ABK) missed an interest payment and warned that bankruptcy filing is near; shares are getting crushed by 43% at $0.47 in very active trading.

Angiotech Pharmaceuticals Inc. (NASDAQ: ANPI) is down after word of a recapitalization.  Shares are down 27% at $0.37, a new 52-week low as the prior range was $0.40 to $1.45.

Avanir Pharmaceuticals (NASDAQ: AVNR) is soaring after its drug called Nuedexta won FDA approval for uncontrolled laughing and crying.  Shares are up a whopping 123% at $5.40 and that is above the old 52-week range of $1.31 to $3.73.

Biodel Inc. (NASDAQ: BIOD) is visiting bio-hell.  The FDA issued a Complete response letter over its Linjeta application for type-1 and type-2 diabetes.  Shares are down 52% at $1.75 and the 900,000+ shares traded in the pre-market is already above an average day’s volume of 872,000 shares. Mark a 52-week low here as the prior range was $3.22 to $6.25.

EXCO Resources Inc. (NYSE: XCO) is surging after its CEO made a $4.36 billion offer to take the independent oil and gas company private.  Shares are up 38% at $20.49 on more than 7 million shares.  The prior 52-week range was $13.25 to $22.52.

Fortinet Inc. (NASDAQ: FTNT) is surging on reports that IBM is making an acquisition offer for the company.  Shares are up 26% at $38.00 in thin volume trading; the 52-week range is $14.72 to $31.65.

SIRIUS XM Radio Inc. (NASDAQ: SIRI) was an options-watch stock for the week ahead of earnings, but shares are hitting new 52-week highs after Seeking Alpha wrote that it will join the NASDAQ 100 in December.  Shares are up 3.3% at $1.55 on over 1 million shares, while the prior 52-week range is $0.56 to $1.50.

VIVUS Inc. (NASDAQ: VVUS) is playing a bit of a give-back after Friday’s ‘bad news that was good news’ from the FDA denial.  Shares are down 4.5% at $7.40.

YRC Worldwide Inc. (NASDAQ: YRCW) is trading higher after the Teamsters approved a third round of concessions.  Shares are up 20% at $4.41 versus a split-adjusted 52-week range of $2.50 to $106.25.

Also, here is the unusual options activity from Friday that are trades which will carry over into this week and beyond.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

CIT Group, Inc. (NYSE: CIT) is down over 20% after it delayed its 10-Q filing amid restructuring.  Worse talk is out there…

Anadys Pharma (NASDAQ: ANDS) is up 30% or more on early clinical trial in Hepatitis C patient data.

Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) is hitting 52-week highs after showing positive Phase III study results for Zenvia.

Bunge Limited (NYSE: BG) is down 4% on a surprise secondary offering.

Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI) is up over 30% as a license holder reported a CE Mark approval.

RINO International Corporation (NASDAQ: RINO) was very active last night after earnings and is down 17% this morning.

JON C. OGG
AUGUST 11, 2009

While the study did not show which exact stents were under comparison, it does at least give some timeframes.  The larger historic drug-eluting stents and their makers are Taxus by Boston Scientific (NYSE: BSX) with Angiotech (NASDAQ: ANPI) as the molecule maker for Taxus, and  Cypher by Johnson & Johnson (NYSE: JNJ) with SurModics (SRDX) as the molecule maker for Cypher.

Endeavor by Medtronic (NYSE: MDT) is also a newer on the market drug-eluting stent system with approval in 2008.  Abbot Laboratories (NYSE:ABT) by Xience was not on the market at that time.  Abbott alsosupplies a private-label version of XIENCE V to Boston Scientificcalled the PROMUS.

These stocks may not move much on the focus study here and based uponthe larger diversification, but this is yet another partial victory formakers of drug-eluting stents.   It is also a win for those who arestent candidates. 

Drug-eluting stents showed improved outcomes as compared with baremetal stents in diabetics, and no excess adverse events were found withdrug-eluting stents in diabetic patients.  This data was reported byresearchers at the American Heart Association’s Scientific Sessions2008 in New Orleans.  You can read the full study results at BioHealthInvestor.com with additional details.  This is stilljust another good feather in the cap for ALL drug eluting stent makers.

Jon C. Ogg
November 11, 2008

International Game Technology (IGT) Concerns it will lose patent lawsuit. Drops to $15.22 from 52-week high of $49.41.

Gamestop (GME) Dips on concerns video game market is slowing. Sells off to $34.52 from 52-week high of $63.77.

Angiotech Pharmaceuticals (ANPI) Cuts staff and terminates tender offer. Plunges to $.53 from 52-week high of $7.90.

Douglas A. McIntyre

Angiotech Pharmaceuticals (ANPI) Cutting costs and having trouble with financing. Drops to $.90 from 52-week high of $7.90.

NetApp (NTAP) Downgrade from Wachovia. Sells down to $18.70 from 52-week high of $32.38.

Douglas A. McIntyre

• STOCK TICKERS: ABT, BSX, MDT, JNJ, SRDX, ANPI, BAYRY, MAXY, AMGN, CRA, INGN, CELG, MRK, SNY, GSK, AKRX, ARYX

This week we saw another FDA Approval in stents as Abbott’s (NYSE: ABT) XIENCE drug-eluting coronary stent was approved for marketing.  While this is causing a resurgence in stents, this space is about to become highly competitive (stocks covered: ABT, BSX, MDT, JNJ, SRDX, ANPI).  Introgen (NASDAQ: INGN) has a new twist for head and neck cancer… give it a cold, literally.  Celgene Corp. (NASDAQ: CELG) actually won out as a competitor’s bone marrow disease trials failed to meet expectations.  Merck (NYSE: MRK) was an FDA decision winner as it gets to keep its lead on the cervical cancer vaccine market in the U.S. tied up for at least 6-months longer than it was anticipated (stocks covered: MRK, SNY, GSK).

This may be a tiny company, but a patent was awarded in bone marrow and stem cell transplants.  While a biotech turned over its hemophelia treatments to a larger company, hemophelia treatments may be better off now (stocks covered: BAYRY, MAXY, AMGN).  Vaccine awards are going to keep sales up at one small vaccine maker.  One Alzheimer’s Disease treatment that originally had high hopes has bitten the dust.  P&G walked away from a partner this week, killing a tiny biotech (stocks covered: PG, ARYX).

And on the front for reviews:

• Do you remember all the hype and hopes for synthetic blood?  This looks like the last player has gone on to greener pastures.
• What is a good investment that has backed way off from highs that should show steady growth in the China health care sector?  We evaluated one potential company for this.

These issues are more stock issues than anything else:

• Celera Corporation (NASDAQ: CRA) completed its journey to independence and took its 3-letter ticker over to NASDAQ.
• Bayhill Therapeutics withdrew its plans for an IPO.  MS and diabetes patients will have to look elsewhere, for now.

Have a happy and safe LONG Fourth of July weekend.  I think there is a new treatment on the market for burnt hand trauma from fireworks, but the FDA has it on hold until next February.

Jon C. Ogg
July 4, 2008

Speaking of Generics, Teva Pharmaceutical Industries (NASDAQ: TEVA) was weak all week after Mylan Inc. (NYSE: MYL) has signed a pact with India’s NATCO Pharma Ltd. to produce a generic version of Teva’s multiple sclerosis treatment called Copaxone.  As this  was an old favorite buy in generic investor hearts you can imagine this will be covered frequently this next week since the stock is now 15% off of its highs and closer to a 52-week low.

We know that Invitrogen (NASDAQ: IVGN) is buying Applera’s Applied Biosystems (NYSE: ABI) unit.  But what about Celera Group (NYSE: CRA)?  Traders may be looking for the "next merger candidate"and that might fit logically.

China Medical Technologies Inc. (NASDAQ: CMED) went up big on earnings news this last week and continued to rise even by the end of the week further than the initial reaction.  Technicians may have this one on a momentum screen now.

Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI) may be of interest after it showed some positive stent data, and its launch of QUILL may all help the perceptions next week on this small molecule company.

It’s always good to know what short sellers are targeting.  The last short selling report showed a huge drop off in the short interest compared to prior reports in large cap biotech stocks like Amgen Inc. (NASDAQ: AMGN), Biogen Idec Inc. (NASDAQ: BIIB), Celgene Corporation (NASDAQ: CELG), and others.  FULL SHORT INTEREST DETAILS HERE.

Intuitive Surgical Inc. (NASDAQ: ISRG) was defended by William Blair this last week and shares managed to rally during the week after that news was out.  After seeing a 3-month low traders may focus here next week as a short bottom fishing attempt.

Vivus Inc. (NASDAQ: VVUS) is hanging tough after a huge gap up in its QNEXA treatment for obesity and for diabetics.  Shares barely closed down on the week, rather impressive for a small cap with a history of not holding gains.  Traders will definitely be keeping their radar eyes on this one for opportunities to buy it up or short it.

Lastly, there was a lot of news on the rheumatoid arthritis front with many companies delivering solid data for drug studies in the debilitating area from companies such as Abbott Laboratories, Array, Eli Lilly, Incyte, J&J, Schering-Plough, and Roche.  Much of the news seems overlooked by the end of a summer week, so watch these for next week.  Solid Developments for Rheumatoid Arthritis (ABT, ARRY, LLY, INCY, JNJ, SGP, RHHBY)

Jon C. Ogg
June 14, 2008

• Angiotech Pharmaceuticals (NASDAQ: ANPI) raised to Outperform at RBC Capital Markets.
• BP plc (NYSE: BP) raised to Outperform at Credit Suisse.
• CBS (NYSE: CBS) downgraded to Market Perform at Wachovia; Raised to Hold at Citigroup.
• James River Coal (NYSE: JRCC) raised to Buy at UBS.
• MEMC Electronics (NYSE: WFR) downgraded to Neutral at JPMorgan.
• SAVVIS (NASDAQ: SVVS) downgraded to Hold at Jefferies and downgraded to Equal-Weight at Lehman.
• Smith & Nephew (NYSE: SNN) raised to Outperform at Wachovia.
• Sohu.com (NASDAQ: SOHU) downgraded to Perform at Oppenheimer.
• The Knot, Inc. (NASDAQ: KNOT) raised to Outperform at Oppenheimer.
• Under Armour (NYSE: UA) downgraded to Hold at Citigroup.

Jon C. Ogg
April 30, 2008

Moneygram (MGI) Fitch cuts rating. Falls to $17.67 from 52-week high of $35.18.

MGIC Investment (MTG) Analyst puts "underweight" rating on mortgage lender. Down to $20.09 from 52-week high of $70.10.

Angiotech Pharmaceuticals (ANPI) Cuts guidance and get downgrade. Down to $4.18 from 52-week high of $9.67.

Douglas A. McIntyre

DD cut to Hold at Citigroup.
DFS cut to Equal Weight at Lehman.
DLTR cut to Underweight at JPMorgan.
FTEK cut to Sell at Merriman Curhan Ford.
IMB cut to Equal Weight at Lehman.
IPG raised to Outperform at Bear Stearns.
MO raised to Buy at UBS.
NNI cut to Underperform at FBR.
OSTK raised to Outperform at Piper Jaffray.
PMI cut to Underweight at Lehman.
RHI cut to Neutral at B of A.
RTSX cut to Hold at Deutsche Bank.
RTP cut to Hold at Citigroup.
RX raised to Outperform at FBR.
SEPR cut to Sell at UBS.
SRCL raised to Overweight at JPMorgan.
WM cut to Equal Weight at Lehman.
XRX raised to Hold at Citigroup.

Jon C. Ogg
October 22, 2007