According to Reuters, concerns about the global economy are growing as the G20 nations are meeting.
Reuters says that Congress challenged banks on how they would use bailout funds.
Reuters reports that companies including Honda (HMC), Home Depot (HD), and Dow Chemical (DOW) want the Fed to buy their commercial paper.
According to Reuters, China announced an economic stimulus package of almost $600 billion.
Reuters reports that AIG (AIG) is about to get a new bailout from the US government which will be worth $150 billion.
Reuters writes that gas prices are continuing their sharp decline.
Reuters reports that Citigroup (C) is in talks to buy a regional bank.
Reuters writes that Democrats are still asking Treasury to help US car companies.
Reuters reports that Dell (DELL) will not launch its music player before Christmas.
"Dana Holdings Corporation Sharpens Focus On Leadership Roles"
"Dana Holding Corporation (DAN )today announced that its Board of Directors has appointed John Devine to the expanded role of chairman and CEO, and named Gary Convis vice chairman."
"Convis, who has served as CEO since April, retains executive oversight of the manufacturing-oriented programs he has rolled out across Dana’s global operations."
In other words, Convis got demoted, but Dana does not want to come right out and say it.
Douglas A. McIntyre
Shares of ImaRx Therapeutics (IMRX) are off 15% to $1.18. The company’s news about it Transcranial Ultrasound in Clinical SONolysis clinical trial in patients with acute ischemic stroke disappointed the market a little over a week ago and shares have not recovered. The stock was at $4.75 in August.
Seattle Genetics (SGEN) announced an offering of private stock which took shares down 12% to $10.32.
Genentech (DNA) is set to report earnings after hours. The 24/7 Wall St. preview is already available.
Dendreon (DNDN) was hit with a wave of buying early in the day and is trading at three times normal volume up 8% to $6.56. Perhaps an unusual options activity in the FEB-08 $7.50 Calls is the culprit. It had 18,457 contracts trade at that strike and the open interest before today was listed as 107,199 contracts.
BioCryst Pharmaceuticals (BCRX) is trading up 8% on well above normal volume. Named an interirm medical officer on Friday.
Compugen Ltd (CGEN) disclosed a collaboration with Merck (MRK) targeted at predicting peptides likely to activate selected G-protein coupled receptors and validating their agonistic activity. The agreement includes an option to Merck for exclusive worldwide licenses for such peptides. Shares moved up 10% to $2.06
Douglas A. McIntyre
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