It almost never matter what the markets do anymore. Some stocks just can’t get it right. Most of these lows that we chose to outline did not even have real news out themselves today. We decided to include the closing bell levels.
Here are some of today’s 52-week low stocks and brief comments:
These are some of the key downgrades or negative calls we are seeing from analysts this Friday morning with more than two hours to the open:
Jon C. Ogg
August 1, 2008
This weekend and this last week has created a lot of buzz around the mighty medical robotics player Intuitive Surgical Inc. (NASDAQ: ISRG). For starters, it did beat earnings and it raised 2008 guidance. But this weekend there is an article as the cover story of Barron’s questioning its long-term valuations. While the article isn’t 100% of a total panning of the company, it does show some discrepancies over what the company believes is the total market opportunity versus what some independents believe.
It seems that Intuitive has its believers and its critics, and to prove it the most recent short data (about to be old) showed that almost 4.1 million shares (over 10% of the float) is listed as being in the short interest. This is what happens after stocks keep an interest and fascination after a rise of 20-times or more in the stock price in less than a decade.
We wanted to discuss two other stocks that are related to this stock to see if there are still opportunities out there in the sector. The two we are reviewing here are Hansen Medical Inc. (NASDAQ: HNSN) and NuVasive Inc. (NASDAQ: NUVA).
Hansen Medical, Inc. (NASDAQ: HNSN) announced last night the pricing of a spot secondary offering via Morgan Stanley as the sole underwriter for the deal.
The size indication of 2.5 million shares that had just been indicated yesterday was bumped up to 3.0 million shares. The company stock closed up $0.52 at $14.58 in yesterday’s trading.
We frequently discuss secondary offerings, special financings, restructurings, insider activity, activist investor trends, IPO’s, back door plays into IPO’s, SPAC’s, spin-offs, and more on our open email distribution list.
This is also one that Cramer had given a huge endorsement to in referring to it as the next Intuitive Surgical. What is interesting here is the company’s "regulatory update" on this spot secondary offering:
Hansen shares are indicated down 5% at $13.85 in pre-market trading this morning; and its and its 52-week trading range is $13.48 to $39.42.
Jon C. Ogg
April 2, 2008
Jon Ogg produces the Special Situation Investing Newsletter and he can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
(AAPL) Apple’s iTunes passed Amazon.com in music sales to become #3 music seller behind Best Buy and Wal-Mart.
(AFOP) Alliance Fiber Optics raised Q2 sales guidance.
(AGN) Allergan trades ex-split to reflect a 2-1 stock split today.
(BNT) Bentley Pharmaceuticals reported positive results with Nasulin intranasal insulin spray at the American Diabetes Association sessions.
(BX) Blackstone was the cover story for Barron’s, noted somewhat cautiously.
(DCGN) deCODE genetics announces positive clinical results for DG041 lead product candidate.
(EBAY) eBay has reportedly sent back some of the ad business to Google that it recently pulled.
(ESRX) Express Scripts trades ex-split today to reflect a 2-1 stock split.
(FRH) Freedom Acquisition Holdings is becoming a public hedge fund and alternative investment vehicle as GLG Partners a $3.4 Billion total compensation deal.
(GILD) Gilead trades ex-split today to reflect a 2-1 stock split.
(GIVN) Given Imaging could revolutionize colonoscopies according to Cramer.
(GPCB) GPC Biotech announced a partnership for Satraplatin in Japan with Yakult Honsha Co. Ltd. And will receive close to a $10 million payment plus royalties.
(HNSN) Hansen Medical has initiated legal action against Luna Innovations over trade secrets, unfair competition and breach of contract on fiber optic technologies for use in robotic catheter products and related intellectual property.
(KVHI) KVH Industries received a $1.1 million fiber optic gyro order for military simulators.
(LRY) Liberty Property established a $50 million buyback program as part of a total $100 million buyback plan.
(MRK) Merck announced that JANUVIA in combination with metaformin provided significant glycemic improvement and was well tolerated and showed significantly improved blood sugar control in patients with type II diabetes.
(NBL) Noble Energy announced new oil and gas discovery in Equatorial Guinea.
(NGI) NEON Communications being acquired for $5.25 per share by RCN Communications.
(NRGN) Neurogen announces positive results for proprietary insomnia drug in two chronic insomnia clinical trials.
(NTDOY) Nintendo passed up Sony in market value in Japan today.
(OMTR) Omniture could be acquired in online ad measuring according to Cramer; stock up 8%.
(OREX) Orexigen Therapeutics announced positive obesity data this weekend American Diabetes Association 67th Scientific Sessions in Chicago.
(USEY) US Energy is seeking third party financial advisors to assist board in its evaluation of potential refinancing or restructuring transactions
(YHOO) Yahoo!’s head executive of US ad sales left for Martha Stewart Ominimedia; Yahoo! is merging ad departments.
Jon C. Ogg
June 25, 2007
JOn Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
ABCO started as Outperform at CIBC.
AXTI started as Buy at First Albany.
BKD started as Buy at Jefferies.
BOOM started as Buy at First Albany.
CQB started as Buy at Morgan Joseph.
EXBD started as Sector Perform at CIBC.
FCN started as Outperform at CIBC.
FRE raised to Outperform at FBR.
HCBK started as Underperform at Bear Stearns.
HNSN started as Buy at Oppenheimer.
HOMB started as Sector Perform RBC.
INTC raised to Buy at Goldman Sachs; stock up almost 2%.
IIVI started as Buy at First Albany.
KNDL raised to Buy at Jefferies.
LGCY started as Buy at Oppenheimer.
NFS raised to Buy at Citigroup.
NFLX raised to Buy at Soleil.
PNX cut to Hold at Citigroup.
PTRY raised to Buy at Jefferies.
SFG raised to Buy at Citigroup.
VLY started as Peer Perform at Bear Stearns.
WSO cut to Hold at BB&T.
Jon C. Ogg
June 15, 2007
| Today’s top tickerspy Indexes | |
| Coffee Stocks | +16.3% |
| Hotel Stocks | +9.0% |
| 2009 IPOs | +8.2% |
| Education Stocks | +4.7% |
| Coal Stocks | +4.4% |
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