24/7 Wall St. » MDVN

24/7 Wall St. Closing Bell (C, NEM, STX, XOM, MWW, AMZN, BRCM, AET, COCO, EPD, MAN, MPC, NOC, WHR, KTCC, SGMO, MDVN, JDAS, IXYS)

Paul Ausick — Wed, 01 Feb 2012 21:04:57 +0000

The three major US stock indexes opened higher this morning, following on a positive debt sale by Portugal and some improvement in PMI numbers from Europe. ADP employment data did not meet expectations, but did not pull stocks down. ISM data fell a bit short of expectations, but construction spending rose sharply. In Asia, China posted mixed PMI reports and the country’s data on new loans was lower than expected. US oil and gasoline inventories rose more than expected, put a crimp in energy prices that had started our higher for the day (more coverage here). WTI crude finished the day down -0.9% at $97.61/barrel, its lowest level in six weeks. Brent crude rose 0.71% to $111.77/barrel. Gold closed up 0.41% at $1,747.60.

The unofficial closing bells put the DJIA up more than 83 points to 12,716.31 (0.66%), the NASDAQ rose more than 34 points (1.22%) to 2,848.27, and the S&P 500 rose 0.89% or nearly 12 points to 1,324.08.

There were several analyst upgrades and downgrades today, including Citigroup Inc. (NYSE: C) raised to ‘outperform’ at Wells Fargo; Newmont Mining Corp. (NYSE: NEM) cut to ‘hold’ at Stifel Nicolaus; Seagate Technology PLC (NASDAQ: STX) raised to ‘buy’ at Stifel Nicolaus; Exxon Mobil Corp. (NYSE: XOM) cut to ‘hold’ at Argus (see our coverage here); and Monster Worldwide Inc. (NYSE: MWW) cut to ‘perform at Oppenheimer. Amazon.com (NASDAQ: AMZN) had three ratings changes today: maintained as ‘neutral’ with target price cut to $190 at Credit Suisse; maintained ‘outperform’ but estimates cut at Baird; and target price lowered to $225 at Jefferies.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Amazon.com is down -8.2% at $178.51; Broadcom Corp. (NASDAQ: BRCM) is up 8.24% at $37.18; Aetna Inc. (NYSE: AET) is up 3.3% at $45.13; Corinthian Colleges Inc. (NASDAQ: COCO) is up nearly 34% at $4.05; Enterprise Products Partners L.P. (NYSE: EPD) is up 3.8% at $50.13, after posting a new 52-week high of $50.35 earlier today; Manpower Inc. (NYSE: MAN) is up nearly 14% at $45.70; Marathon Petroleum Corp. (NYSE: MPC) is up nearly 10% at $41.98; Northrup Grumman Corp. (NYSE: NOC) is up 2.22% at $59.34; and Whirlpool Corp. (NYSE: WHR) is up 14% at $61.93.

Other standouts from today include the following stocks:

Key Tronic Corp. (NASDAQ: KTCC) is up nearly 37% at $8.53, after posting a new 52-week high of $8.74 earlier today. The computer peripherals maker posted better-than-expected earnings and revenues after markets closed last night.

Sangamo BioSciences Inc. (NASDAQ: SGMO) is up more than 21% at $4.19. The pharmaceutical maker has announced a collaboration with Shire plc (NASDAQ: SHPGY) to develop a hemophilia treatment.

Medivation Inc. (NASDAQ: MDVN) is up more than 21% at $67.26, after posting a new 52-week high of $70.87 earlier today. The development stage drug maker has reported highly positive results on a test of its late-stage prostate cancer treatment. We have more coverage here.

JDA Software Group Inc. (NASDAQ: JDAS) is down more than -17% at $24.39. The software maker issued a fairly weak quarterly report and continuing investor wariness remains over an SEC investigation of the company’s accounting practices.

IXYS Corp. (NASDAQ: IXYS) is down more than 14% at $11.76. The integrated circuit maker posted poor quarterly numbers after markets closed last night.

Stay tuned for Thursday. Federal Reserve chairman Ben Bernanke is speaking at 10:00 a.m. and Dallas Fed president Richard Fisher is speaking in the evening. We have noted the following events on the schedule (all times Eastern):

7:30 a.m. – Challenger Job-cut data
8:30 a.m. – New claims for unemployment benefits
10:30 a.m. – EIA weekly natural gas storage report
4:30 p.m. – Federal Reserve money supply and balance sheet reports

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: AET, AMZN, BRCM, C, COCO, EPD, IXYS, JDAS, KTCC, MAN, MDVN, MPC, MWW, NEM, NOC, SGMO, STX, WHR, XOM

Mid-Afternoon Movers (MDVN, LIVE, RSYS, SVNT, VRNG)

Paul Ausick — Wed, 01 Feb 2012 19:10:00 +0000

At mid-afternoon, we’ve seen some changes among today’s big movers. On the plus side are Medivation Inc. (NASDAQ: MDVN, Live Deal Inc. (NASDAQ: LIVE, RadiSys Corp. (NASDAQ: RSYS), Savient Pharmaceuticals Inc. (NASDAQ: SVNT), and Vringo Inc. (NASDAQ: VRNG).

Medivation has jumped nearly 25% to $69.12 after posting a new 52-week high of $70.87 earlier today. The development stage drug maker has reported highly positive results on a test of its late-stage prostate cancer treatment. We have more coverage here.

Live Deal is up nearly 25% at $5.47. The customer acquisition company got a capital infusion on Monday from the private equity division of Isaac Organization.

RadiSys is up nearly 22% at $7.35 in a 52-week range of $4.01-$9.38. The company has announced a ruggedized version of a Core processor from Intel Corp. (NASDAQ: INTC).

Savient is down more than 12% at $2.22. The drug company lost its CEO, who has joined Dendreon Corp. (NASDAQ: DNDN) as its new CEO.

Vringo is down nearly -6% at $1.32. The social media company is giving back some of the 30% gain it enjoyed yesterday.

The DJIA is up 1% at around 12,760, the S&P 500 is up 1.19% at about 1,328, and the Nasdaq Composite is up 1.33% at about 2,851.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: LIVE, MDVN, RSYS, SVNT, VRNG

Top Analyst Upgrades & Downgrades (AMGN, AON, EQT, EXEL, IPI, ERIC, MDVN, NKE, NIHD, NYX, POT, RAX, RRC, SYMC, TSLA, UA, UNH)

Administrator — Tue, 31 Jan 2012 13:27:50 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street brokerage and research firms this Tuesday morning.

Amgen Inc. (NASDAQ: AMGN) Reiterated Buy and Raised target to $80 at Argus.
AON Corporation (NYSE: AON) Raised to Neutral from Underperform at Credit Suisse.
EQT Corporation (NYSE: EQT) Raised to Hold from Sell with $50 target at Canaccord Genuity.
Exelixis, Inc. (NASDAQ: EXEL) Started as Outperform at Credit Suisse.
Intrepid Potash (NYSE: IPI) Cut to Sell at Goldman Sachs.
LM Ericsson Telephone Co. (NASDAQ: ERIC) Maintained Buy but target now at $14 from $19 at Argus.
Medivation, Inc. (NASDAQ: MDVN) Started as Outperform at Credit Suisse.
Nike Inc. (NYSE: NKE) Raised to Buy at Argus.
NII Holdings, Inc. (NASDAQ: NIHD) named as Bear of the Day at Zacks.
NYSE Euronext (NYSE: NYX) Cut to Sector Perform at RBC Capital.
Potash Corp. of Saskatchewan (NYSE: POT) Cut to Neutral at Goldman Sachs.
Rackspace Hosting Inc. (NYSE: RAX) named Momentum stock of the day at Zacks.
Range Resources Corporation (NYSE: RRC) Raised to Hold from Sell with $59 target at Canaccord Genuity.
Symantec Corporation (NASDAQ: SYMC) Reiterated Buy and $24.00 price target at Argus.
Tesla Motors, Inc. (NASDAQ: TSLA) Started as Buy at Jefferies.
Under Armour, Inc. (NYSE: UA) Raised to Buy at Needham.
UnitedHealth Group (NYSE: UNH) named as Bull of the Day at Zacks.

If you enjoyed the top analyst calls, you can sign up in the box below to join our morning email list to receive news directly in your inbox each morning. We include major analyst upgrades and downgrades, IPO and M&A news, special situation developments, observations on Warren Buffett and key market gurus, as well as special exclusive feature stories.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: AMGN, AON, EQT, ERIC, EXEL, IPI, MDVN, NIHD, NKE, NYX, POT, RAX, RRC, SYMC, TSLA, UA, UNH

Top Analyst Upgrades & Downgrades (ALU, AIG, DK, GRPN, HD, ING, K, MDVN, PIR, DGX, TOL, VE, PAY, WES, YRCW)

Administrator — Mon, 07 Nov 2011 13:22:59 +0000

These are some of Monday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls.

Alcatel-Lucent SA (NYSE: ALU) Cut to Sell at Citigroup; Cut estimates and target at Argus.
American International Group Inc. (NYSE: AIG) named as Bear of the Day at Zacks.
Delek US Holdings, Inc. (NYSE: DK) named value stock of the day at Zacks.
Groupon, Inc. (NASDAQ: GRPN) Started as Buy at Benchmark.
The Home Depot Inc. (NYSE: HD) Raised to Outperform at RBC.
ING Groep NV (NYSE: ING) Cut to Hold at Soc-Gen.
Kellogg Co. (NYSE: K) Cut to Market Perform at William Blair.
Medivation, Inc. (NASDAQ: MDVN) Raised to Outperform as Bull of the Day at Zacks.
Pier 1 Imports, Inc. (NYSE: PIR) Started as Outperform at Wells Fargo.
Quest Diagnostics Inc. (NYSE: DGX) Raised to Outperform at RBC.
Toll Brothers Inc. (NYSE: TOL) Raised to Buy at Citigroup.
Veolia Environnement S.A. (NYSE: VE) Cut to Underweight at JPMorgan.
VeriFone Systems, Inc (NYSE: PAY) Started as Buy at Citigroup.
Western Gas Partners. L.P. (NYSE: WES) Raised to Outperform at Credit Suisse.
YRC Worldwide. Inc. (NASDAQ: YRCW) Maintained Underperform and target cut to $0.05 at Credit Suisse; maintained neutral with losing share at Zacks.

See the top analyst upgrades and downgrades of the prior week here.

JON C. OGG

Filed under: Analyst Calls Tagged: AIG, ALU, DGX, DK, GRPN, HD, ING, K, MDVN, PAY, PIR, TOL, VE, WES, YRCW

24/7 Wall St. Closing Bell (FCX, CECO, CLX, COL, BSX, MDT, FICO, LAMR, OWW, KSWS, RIG, MDVN, SNSTA, SONO, DNDN, ANF, CLWR)

Paul Ausick — Thu, 03 Nov 2011 20:05:46 +0000

Stock markets. Equity markets opened sharply higher this morning before falling into negative territory before the ISM and factory order reports were released. The ISM index came in lower than expected, but factory orders grew by 0.3%, slightly better than expected. New pressure on Greece to forgo its referendum on the EU bailout package helped push share prices up, as did strength in tech stocks. Crude oil is up nearly 1.5% and gold is up nearly 2%, while the dollar is down against both the euro and the British pound.

Closing bell. The unofficial closing bells put the DJIA up more than 207 points to 12,043.19 (1.75%), the NASDAQ rose nearly 58 points (2.2%) to 2,697.97, and the S&P 500 rose 1.87% or more than 23 points to 1,261.10.

Analyst upgrades and downgrades. There were several analyst upgrades and downgrades today, including Freeport-McMoran Copper & Gold Inc. (NYSE: FCX) started at ‘overweight’ at Barclays. Career Education Corp. (NASDAQ: CECO), Clorox Corp. (NYSE: CLX), and Rockwell Collins Inc. (NYSE: COL) were cut to ‘underperform’ at BofA/Merrill Lynch; and Boston Scientific Corp. (NYSE: BSX) and Medtronic Inc. (NYSE: MDT) were started as ‘outperform’ at Credit Suisse.

Market reacts to earnings. Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Fair Isaac Corp. (NYSE: FICO) is up about 25%, at $33.95; Lamar Advertising Co. (NASDAQ: LAMR) is up nearly 25%, at $26.18; Orbitz Worldwide, Inc. (NYSE: OWW) is up 40%, at $2.66; K-Swiss Inc. (NASDAQ: KSWS) is down more than -33%, at $3.09; and Transocean Ltd. (NYSE: RIG) is down about -13%, at $48.73.

Several other standouts from today are as follows…

Medivation Inc. (NASDAQ: MDVN) is up 140%, at $39.74 after posting a new 52-week high of $40.15 earlier today. The company reported that an experimental prostate cancer drug reduced death risk by 37%.

Sonesta International Hotels Corp. (NASDAQ: SNSTA) is up nearly 41%, at $30.65 after posting a new 52-week high of $31.06. The company has agreed to be acquired for $31/share by an affiliate of Hospitality Properties Trust (NYSE: HPT).

SonoSite, Inc. (NASDAQ: SONO) is up about 29%, at 39.62 after posting a new 52-week high of $40 earlier today. Sonosite is reported to have hired Morgan Stanley to find a buyer for the company and talks are already in progress with potential buyers, including Samsung Electronics.

Dendreon Corp. (NASDAQ: DNDN) is down more than -37%, at $6.53 after setting a new 52-week low of $6.52 earlier today. The company today reiterated its forecast for only modest sales of its Provenge anti-cancer drug.

Abercrombie & Fitch Co. (NYSE: ANF) is down nearly -20%, at $59.51. The company reported slowing sales in Europe, a region where the company had pinned its hopes for growth.

Clearwire Corp. (NASDAQ: CLWR) is down about -14%, at $1.75. The company is seeking additional financing and has been unable to get its largest customer and majority shareholder Sprint Nextel Corp. (NYSE: S) to commit to the financing.

Stay tuned for Friday. The G-20 summit opened today and will continue meeting tomorrow and over the weekend. Monster Worldwide Inc. (NYSE: MWW) releases its October report on US online job demand. We have noted the following event (all times Eastern):

8:30 a.m. – Non-farm payroll data for October

Paul Ausick

Filed under: Market Close Tagged: ANF, BSX, CECO, CLWR, CLX, COL, DNDN, FCX, FICO, KSWS, LAMR, MDT, MDVN, OWW, RIG, SNSTA, SONO

Medivation, A Pain in the Rear for Dendreon (MDVN, DNDN)

Administrator — Thu, 03 Nov 2011 14:59:04 +0000

Medivation, Inc. (NASDAQ: MDVN) is today’s darling in biotech and emerging pharmaceuticals. It and partner Astellas in Japan showed very positive data on its prostate cancer drug candidate.

Its shares are up more than 100% after clinical data on its prostate cancer drug candidate showed to be so effective. Medivation has even halted the clinical trial so that it can give the medicine to all participants.

The MDV3100 tial was in the final development stage for potential U.S. FDA marketing approval. The interim data indicated that patients lived an average of 4.8 months longer than those on a placebo.

That is going to only be added pressure for Dendreon Corporation (NASDAQ: DNDN). Its stock was down on its own earnings and disappointing Provenge sales figures. With the potential added competition on top of bad results, Dendreon’s stock is off by 35% to $6.77 and shares put in a new 52-week low of $6.56 this morning.

Medivation is up 113% at $35.10 and we are already more than ten-times normal trading volume.

JON C. OGG

Filed under: Biotech, Drug companies Tagged: DNDN, MDVN

Top Active Trader Alert Stocks (ARO, DNDN, MDVN, PCG, QCOM, TSLA)

Mike Sauter — Thu, 03 Nov 2011 12:51:26 +0000

Active traders and day traders have many stocks to choose from this Thursday morning. We are tracking news and moves in shares of Aeropostale, Inc. (NYSE: ARO), Dendreon Corporation (NASDAQ: DNDN), Medivation, Inc. (NASDAQ: MDVN), PG&E Corporation (NYSE: PCG), Qualcomm, Inc. (NASDAQ: QCOM), and Tesla Motors, Inc. (NASDAQ: TSLA).

Aeropostale, Inc. (NYSE: ARO) is up 13.5% before market open to $16.25, relative to a 52-week range of $9.16 – $27.73.

Dendreon Corporation (NASDAQ: DNDN) is down 26% before market open to $7.70, relative to a 52-week range of $7.81 – $43.96.

Medivation, Inc. (NASDAQ: MDVN) is up 116% premarket to $35.80, relative to a 52-week range of $10.96 – $25.50.

PG&E Corporation (NYSE: PCG) is down 5.5% premarket to $40.00, relative to a 52-week range of $37.57 – $48.63.

Qualcomm, Inc. (NASDAQ: QCOM) is up more than 10% premarket to $57.51, relative to a 52-week range of $44.62 – $59.94.

Tesla Motors, Inc. (NASDAQ: TSLA) is up 5.3% before market open to $30.25, relative to a 52-week range of $21.11 – $36.42.

44.62 – 59.

Filed under: Pre-Market Activity Tagged: ARO, DNDN, MDVN, PCG, QCOM, TSLA

BioHealth Business Daily (APPA, ARIA, MDVN, OSIP, SOMX, TEVA)

247wallst — Thu, 18 Mar 2010 18:50:37 +0000

These are some of the top movers in the world of BioHealth investing. It is usual that drug companies and biotech stocks have major volatility around news and these are examples of that today. The big movers so far are AP Pharma Inc. (NASDAQ: APPA), Ariad Pharmaceuticals Inc. (NASDAQ: ARIA), Medivation, Inc. (NASDAQ: MDVN), OSI Pharmaceuticals Inc. (NASDAQ: OSIP), Somaxon Pharmaceuticals, Inc. (NASDAQ: SOMX), and Teva Pharmaceutical Industries Limited (NASDAQ: TEVA).

We have provided color on the news, links if appropriate, and background data on price and volume trends.

AP Pharma Inc. (NASDAQ: APPA) is up 21.8% at $1.90 on over 4.6 million shares. This is close to 10-time normal volume and the high of $2.05 today compares to a 52-week moving average of $0.38 to $2.16. This is ahead of today’s pending FDA nod on its drug candidate APF530 for chemotherapy-induced nausea and vomiting.

Ariad Pharmaceuticals Inc. (NASDAQ: ARIA) was cut to Hold from Buy at Argus Research and shares are down almost 8% at $3.36 today. The new market cap is now only $366 million.

Medivation, Inc. (NASDAQ: MDVN) is down again on concerns that Dimebon’s partnership is toast after its lack of efficacy in the fight against Alzheimer’s. Pfizer Inc. (NYSE: PFE) has so far maintained that it is too early to call it dead. Shares are down 4.6% at $12.06 in mid-afternoon trading.

OSI Pharmaceuticals Inc. (NASDAQ: OSIP) is believed to be getting a higher price than its $52 tender from Astellas. We noted earlier this week that it seems unlikely that this one can remain independent. Shares rose over 1% and hit a new 52-week high of $58.97 today.

Somaxon Pharmaceuticals, Inc. (NASDAQ: SOMX) is surging today after the FDA approved its application for Silenor as the first sleep aid for insomnia and sleep disorder without all the nasty sleep action disorders that are present in other sleep aid drugs. Mid-afternoon trading has shares up almost 65% at $6.48 on over 22 million shares and almost 10-times normal trading volume.

Teva Pharmaceutical Industries Limited (NASDAQ: TEVA) is running up today after the news that it won the bid to acquire German generic drug maker Ratiopharm GmbH for close to $5 billion. You have to love when the acquiring company rallies. Shares are up 3.8% at $62.22 in mid-afternoon.

JON C. OGG

Filed under: Biotech, Drug companies, Trading Alert Tagged: APPA, ARIA, MDVN, OSIP, SOMX, TEVA

This Morning’s Top Trader Alerts (AIG, CTIC, MDVN, SEED, SSTI, XRTX, ZANE)

247wallst — Mon, 08 Mar 2010 14:17:56 +0000

We have compiled this morning’s key stocks on the move based on news. These are some of the key stocks being watched and traded by day traders and active traders. There is a more detailed explanation of the news as well as pertinent trading information for volume and price moves at VSInvestor.com.

American International Group, Inc. (NYSE: AIG) is up on another sale; Cell Therapeutics, Inc. (NASDAQ: CTIC) is up again over 10% was was over $1.00; Medivation, Inc. (NASDAQ: MDVN) is trading lower again; Origin Agritech Limited (NASDAQ: SEED) is up over 10%; Silicon Storage Technology, Inc. (NASDAQ: SSTI) is lower; Xyratex Ltd. (NASDAQ: XRTX) up 15%; and Zanett Inc. (NASDAQ: ZANE) down marginally.

FULL DETAILS AT VSINVESTOR.COM

-The 24/7 Wall St. Team

Filed under: Pre-Market Activity, Trading Alert Tagged: AIG, CTIC, MDVN, SEED, SSTI, XRTX, ZANE

Top 10 Analyst Upgrades and Downgrades (BBT, BA, KO, FDX, FITB, MDVN, OVTI, RCL, ZUMZ, DIS)

247wallst — Thu, 04 Mar 2010 13:18:48 +0000

These are the top ten analyst calls we have seen in upgrades, downgrades, and initiations from Wall Street research calls this Thursday morning:

BB&T Corp. (NYSE: BBT) Raised to Outperform at Bernstein.
Boeing Co. (NYSE: BA) Raised to Neutral at UBS.
The Coca-Cola Company (NYSE: KO) Raised to Buy at UBS.
FedEx Corporation (NYSE: FDX) Raised to Outperform at Morgan Keegan.
Fifth Third Bancorp (NASDAQ: FITB) Cut to Market Perform at Bernstein.
Medivation, Inc. (NASDAQ: MDVN) Cut to Neutral at JPMorgan (oops).
OmniVision Technologies Inc. (NASDAQ: OVTI) Raised to Outperform at Baird.
Royal Caribbean Cruises Ltd. (NYSE: RCL) Raised to Neutral at Goldman Sachs.
Zumiez, Inc. (NASDAQ: ZUMZ) Raised to Overweight at Piper Jaffray.
Walt Disney Co. (NYSE: DIS) Raised to Buy at BofA/Merrill Lynch.

You can join our free daily email distribution list to hear more about 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

Filed under: Analyst Calls Tagged: BA, BBT, DIS, FDX, FITB, KO, MDVN, OVTI, RCL, ZUMZ