Ambac Financial Group Inc. (NYSE: ABK) is up big again on continuation of the same news from last Thursday after 50%+ gains Friday and 100%+ gains on Monday.

Palm, Inc. (NASDAQ: PALM) was down over 3% and is getting worse as some reality is coming into play over what it may fetch in a buyout.

EntreMed, Inc. (NASDAQ: ENMD) is up over 25% on cancer news this morning.

Xoma Ltd. (NASDAQ: XOMA) is surging 20% on patent awards.

Molecular Insight Pharmaceuticals, Inc. (NASDAQ: MIPI) is looking to b today’s easy winner as shares are up nearly 200% on positive cancer news.

Popular, Inc. (NASDAQ: BPOP) is up double-digits despite a securities offering and a loss.

Goldman Sachs did an analyst coverage switcheroo and shares of Expedia Inc. (NASDAQ: EXPE) are up while Priceline.com Inc. (NASDAQ: PCLN).

Huntington Bancshares Inc. (NASDAQ: HBAN), KeyCorp. (NYSE: KEY), and Regions Financial Corp. (NYSE: RF) are all lower by 2% to 3% after UBS cut their ratings down to a SELL rating.

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JON C. OGG

We have offered news summaries, as well as the price moves and any expectations if available, as well as offered color where applicable on each.

Celgene Corporation (NASDAQ: CELG) is giving a little of this week’s gains back after its annual R&D day showed the top-line results from the first clinical study with placenta-derived cells that met the primary endpoint of safety goals and showed encouraging clinical benefit… including clinical remission.  There is not anything bad that was seen here, but a sell-the-news reaction is taking place.  There may be some disappointment that a stock split has yet to be seen.  Shares are down 0.35% at $63.02 on over 2.5 million shares.  Update for Close: shares closed down 0.2% at $63.12 on 4.2 million shares.

Halozyme Therapeutics, Inc. (NASDAQ: HALO) is up, but not booming volume.  William Blair initiated    analyst coverage with an Outperform.  Shares are up 5.17% at $8.54 on 362,000 shares.  Average volume is 554,000 shares and this is almost a 52-week considering its $5.07 to $8.67 trading range.  Update for Close: shares closed up 3.7% at $8.42 on over 600,000 shares.

Cell Therapeutics, Inc. (NASDAQ: CTIC) may be anticipation or may be something else.  Tomorrow is the company’s special shareholder meeting.  We previously outlined what was expected to come up there, although you can imagine it will be a heated and passionate meeting.  Shares are up 5% at $0.6245 on about 12.9 million shares.  That is actually light trading volume. Update for Close: shares closed up 7% at $0.637 on 16.3 million shares.

EntreMed, Inc. (NASDAQ: ENMD) noted yesterday in a filing… “On April 2, 2010, the Audit Committee of the Board of Directors of EntreMed, Inc. (the “Company”) approved the dismissal of Ernst & Young LLP (“Ernst & Young”) as its independent registered public accounting firm….Except for an explanatory paragraph in the report of Ernst & Young regarding the Company’s consolidated financial statements as of and for the fiscal year ended December 31, 2009 which noted that there was substantial doubt as to the Company’s ability to continue as a going concern, the reports of Ernst & Young on the company’s consolidated financial statements…. did not contain any adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles.”  The company recently got its NASDAQ listing extended, but that has already been seen.  Shares are up 4.6% at $0.73 on 335,000 shares (150% of normal volume).  Today’s move may be nothing more than ‘more buyers than sellers’ outside of the ongoing issues. Update for Close: shares closed up 5.7% at $0.74 on moe than 600,000 shares.

Forest Laboratories Inc. (NYSE: FRX) is down hard after an FDA panel rejected its Nycomed lung disease drug after that same FDA panel earlier commented that its benefits were marginal.  We have seen at least two analyst downgrades today from Lazard and from Piper Jaffray.  Shares had been around $30 before seeing a late-day rise on Wednesday before closing at $32.46.  Shares today are down 13% at $28.15 on over 15 million shares.  That is almost 5-times normal volume and the 52-week range is $20.93 to $33.10. Update for Close: shares closed down 13.7% at $27.99 on over 22 million shares.

Novavax, Inc. (NASDAQ: NVAX) is trading higher today and this may be nothing more than a delayed reaction to news out yesterday.  On Wednesday it announced that James F. Young, Ph.D. was joining its Board of Directors as an independent board member effective immediately.  He has 30 years of experience in molecular genetics, microbiology, immunology and pharmaceutical development and had previously been president of R&D at MedImmune where he was “instrumental in the development of FluMist and Synagis.”  Shares are up 4.2% at $2.44 on 1.7 million shares versus 1.56 million shares on average.  The 52-week range is $0.76 to $7.79. Update for Close: shares closed up 4.24% at $2.44 on 2.3 million shares.

Tongjitang Chinese Medicines Co. (NYSE: TCM) is up on a buyout, although not as much as seen in other medical related companies.  It received a proposal to acquire all outstanding shares of the company for the equivalent of $4.50 per ADS.  Shares are up 16% at $4.38 on over 535,000 shares.  The stock’s 52-week range is $2.90 to $5.10 and average daily trading volume is only about 14,000 shares. Update for Close: shares closed up 16.4% at $4.40 on 650,000 shares.

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JON C. OGG

This is unfortunately not even the entire list.  We have compiled the data on the specifics of each and shown how each offering compares to the size of each company.

Main Street Capital Corporation (NASDAQ: MAIN) sold 2,500,000 shares of common stock at $14.75 per share to raise approximately $34.8 million.  It intends to use approximately $12 million to repay outstanding debt borrowed under its $30 million investment credit facility to fund Main Street Capital II, LP capital commitments.  It intends to use the remaining net proceeds to make investments in lower middle-market companies in accordance with its investment objective and strategies, pay operating expenses and other cash obligations and for general corporate purposes. The underwriters were Morgan Keegan, BB&T Capital Markets, Scott & Stringfellow, Janney Montgomery Scott, Ladenburg Thalmann & Co. , and Madison Williams.  Main Street’s market cap is approximately $160 million before any effects, if any, of this offering.

Orient-Express Hotels Ltd. (NYSE: OEH) sold 12,000,000 Class A common shares at a price of $10.00 per share.  Net proceeds from this offering are expected to be approximately $114 million and will be used to pay the cash portion of the purchase price of two hotel properties located in Taormina, Sicily.  The remaining cash is for general corporate purposes.  The deal is brought by Deutsche Bank and Barclays Capital as joint book-running managers for the offering.  The market cap here is approximately $772 million before teh effects of the offering.

El Paso Pipeline Partners, L.P. (NYSE: EPB) has filed to sell some 8,000,000 common units in a public secondary offering and it intends to use the net proceeds for general partnership purposes.  This includes potential future acquisitions and growth capital expenditures. The partnership may apply some or all of the net proceeds to reduce its outstanding borrowings under its revolving credit facility.  Citigroup, BofA Merrill Lynch, Barclays Capital, UBS Investment Bank, and Wells Fargo Securities will be the joint book-running managers; co-managers are listed as Goldman Sachs, J.P. Morgan, and Morgan Stanley.  This will raise close to $200 million and the market cap is about $3.2 billion before considering the effects of this offering.

EntreMed, Inc. (NASDAQ: ENMD)  has completed a registered direct offering of $2.5 million in common stock, although this is probably too small to spend much time on.  It sold 3,125,000 shares at $0.80 per share, approximately a 7% discount.  Wharton Capital Markets was the sole placement agent in the offering.

This morning came an SEC filing from Teekay Corporation (NYSE: TK) covering the sale of up to $300 million in senior notes.  The joint book-runners are listed as J.P. Morgan, Citi, and Deutsche Bank; Co-managers are BNP PARIBAS, DnB NOR Markets, ING Wholesale, and Scotia Capital.  The company intend to use approximately $190 million of the net offering proceeds to repurchase Senior Notes due July 2011, subject to the tender; and the remaining net proceeds to repay a portion of debt.  Its market cap is $1.9 billion.

Earlier this week came an SEC filing from The NASDAQ OMX Group, Inc. (NASDAQ: NDAQ) covering the sale of an unspecified amount in Debt Securities, Preferred Stock, Common Stock, Warrants, Depositary Shares, Purchase Contracts and Units.  This was its automatic shelf registration, which does not mean any sale is imminent.

This week also came a filing from Netlist Inc. (NASDAQ: NLST) covering the potential sale of up to $30 million in a mixed securities shelf covering the sale of any combination of Common Stock, Preferred Stock, Warrants, Depositary Shares, and/or Units.  Netlist is the one that has been all over the place of late and this market cap today is around $100 million without considering any effect of potential dilution.  The use of proceeds is for capital expenditures, working capital, and other general corporate purposes.

Also earlier this week came a filing from ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) covering the sale of up to $125 million in  Common Stock, Preferred Stock, Debt Securities, Warrants, Rights, Purchase Contracts, and Units in a mixed securities registration.  The market cap here without considering any dilutive effect is now $257 million.  The use of funds is for general corporate purposes: R&D and clinical trials, product manufacturing, intellectual property protection and enforcement, working capital, repayment or refinancing of debt, capital expenditures, and to fund possible acquisitions.

You are invited to join our free daily email distribution list to hear about ongoing secondary offerings and initial public offerings, day trader and options trader alerts, analyst upgrades and downgrades, stock and market rumors, Buffett and guru investor news, M&A, and more.

JON C. OGG
January 13, 2010

The entire list is published.here. Among some of the notables:

Applied Digital Solutions (DIGA)

Atari (ATAR)

Children’s Place (PLCE)

Conexant (CNXT)

EntreMed (ENMD)

Force Protection (FRPT)

infoUSA  (IUSA)

Mindspeed (MSPD)

PixelWorks (PXLW)

QMed (QMED)

Sonic Foundry (SOFO)

Sonic Solutions (SNIC)

TranSwitch (TXCC)

Zila (ZILA)

Douglas A. McIntyre

• Abbott Laboratories (ABT) $0.93 EPS versus $0.92 estimate; sees Q1 EPS $0.61 to $0.63 versus $0.65 estimates and sees 2008 EPS $3.20 to $3.25 versus $3.22 estimate.
• Advanced Energy Industries Inc. (NASDAQ: AEIS) traded down over 10% after after it lowered guidance.
• Air Products (APD) $1.16 EPS vs $1.13 estimates. 
• Apple Inc. (AAPL) trading down 10% after it posted $1.76 EPS on $9.6 Billion revenues; Estimates were $1.62 EPS on revenues of $9.47 Billion; Guidance for next quarter is $0.94 EPS and revenues $6.8 Billion versus estimates of $1.09 EPS on $6.98 Billion in revenues.
• Baidu.com (BIDU) announces the formal launch of its Japanese language search engine run by its Japanese subsidiary.
• CheckPoint Software (CHKP) trading up almost 5% after $0.46 EPS versus $0.45 est.; Revenues $206.7M vs. $202.3M est.;
• CNH Global (CNH) $0.50 EPS versus $0.60 estimate.
• Coach (COH) $0.69 EPS vs $0.68 estimate; noted weak mall traffic and decline in average transaction size.
• EntreMed (ENMD) is starting its Phase II study with its MKC-1 cell cycle inhibitor in ovarian cancer and advanced endometrial cancer.
• Ethan Allen (ETH) posted $0.70 EPS versus $0.68 estimate.
• Foster Wheeler (FWLT) trades ex-split to reflect a 2 for 1 stock split.
• General Dynamics (GD) $1.42 EPS vs. $1.41 estimate; sees 2008 EPS $5.55 to $5.65 versus $5.73 estimate.
• HOKU Scientific Inc. (HOKU) traded down 10% after earnings beat but guidance was deemed light.
• INX (INXI) awarded Department of Defense contract to provide up to $21 million in support  of a Cisco Systems network pact.
• Martek Biosciences (MATK) noted a December publication showed its DHA may help in late-onset Alzheimer’s, although NIH study results will be in 2010.
• Parametric (PMTC) $0.26 EPS vs. $0.23 estimate; sees next quarter $0.24 to $0.28 vs. $0.26 estimate; sees 2008 EPS $1.17 to $1.27 vs. $1.16 estimate (revenue in-line).
• Praxair (PX) $0.98 EPS vs $0.97 estimate.
• Qualcomm (QCOM) expanded relationship with Motorola for chipsets into certain UMTS 3G handsets in 2008 and 2009.
• RLI Corp. (RLI) $1.22 EPS versus $1.05 estimate.
• Rockwell Automation (ROK) $1.04 EPS vs. $1.01 estimates; guides 200 EPS $4.25 to $4.45 versus $4.38 estimate.
• Southwest Airlines (LUV) $0.12 EPS vs. $0.10 estimate ; reigned in 2008 growth plans to 4%-5% capacity.
• Texas Instruments Inc. (TXN) has posted earnings of $0.54 EPS and revenues of $3.56 Billion; analysts pegged at $0.52 EPS on $3.58 Billion in revenues; sees Next quarter $0.43 to $0.49 EPS on revenues of $3.27 to $3.55 Billion versus estimates of $0.45 EPS on $3.41 Billion in revenues.
• TJX Companies (TJX) was Jim Cramer’s retail pick on CNBC’s MAD MONEY last night.
• United Tech (UTX) $1.08 EPS vs. $1.06 estimate; sees 2008 $4.65 to $4.85 versus $4.85 estimate.
• Vertex Pharmaceuticals (VRTX) will begin Phase III evaluation of telaprevir for its lead investigational hepatitis C protease inhibitor.
• WellPoint (WLP) $1.51 EPS versus $1.51 estimate.
• Werner Enterprises (WERN) $0.28 EPS vs. $0.28 estimate.

Jon C. Ogg
January 23, 2008