JA Solar Holding Co. (NASDAQ: JASO) is down close to 10% after poor results.

Garmin Ltd. (NASDAQ: GRMN) is down over 5% on a key analyst downgrade.

YRC Worldwide, Inc. (NASDAQ: YRCW) was down over 7% on an analyst downgrade.

Jazz Pharmaceuticals, Inc. (NASDAQ: JAZZ) was up almost 20% on an unexpected profit.

Medarex Inc. (NASDAQ: MEDX) is seeing very unusual merger arb volume after the Hart-Scott-Rodino merger review period for the Bristol-Myers Squibb (NYSE: BMY) buyout has expired.

Petroleum Development Corporation (NASDAQ: PETD) is down 5% and will be an exponential volume mover on the secondary offering.

Toll Brothers (NYSE: TOL) has some sales gains data that is strong enough to lift the SPDR S&P Homebuilders (NYSE: XHB).

This was not seen until a post-close review, but Broadcom Corp. (NASDAQ:BRCM) was seeing some very unusual PUT OPTIONS TRADING yesterday.

JON C. OGG
AUGUST 12, 2009

Reuters:   CIT (CIT) may sell its aviation finance business.

Reuters:   Fatigue at the Fed is leading to questions about its expanded role.

Reuters:   Twitter will pitch add-on tools to businesses.

Reuters:   Vodafone (VOD) stuck to its full-year forecast.

Reuters:   Amex (AXP) and Capital One (COP) had large cars losses.

Reuters:   Now that Merck (MRK) is buying Medares (MEDX), investors want to know which biotech deal is next.

WSJ:   The Fed unveiled rules to protect borrowers.

WSJ:   Oil moved above $67.

WSJ:   Defense firms say their business is solid.

WSJ:   The New York Times (NYT) said it would push cost cuts and sell off some businesses.

WSJ:   Amazon (AMZN) was hit by weak video game sales.

WSJ:   The AP will monitor online use of its content.

WSJ:   California will have more budget problems next year.

WSJ:   The bad US economy has created a risk of deflation around the world.

WSJ:   The Bank for International Settlements said the withdrawal of large bank activity from global markets is risky.

WSJ:   GM said the number of bidders for Opel is narrowing.

WSJ:   UPS (UPS) said the future would be tough.

WSJ:   Large advertising firms said their business has bottomed.

WSJ:   NetFlix (NFLX) added more new subscribers.

NYT:   Jobless checks are being held in some states with troubled finances.

NYT:   Sales of Tamiflu helped Roche results.

NYT:   Home sales rose for the third month in June.

FT:   Citigroup (C) asked a Fannie Mae (FNM) director to join its board.

FT:   Fortress plans to go on a buying spree.

Bloomberg:   JPMorgan (JPM) increased some banker salaries for next year.

Douglas A. McIntyre

Bristol Myers Inc. (NYSE: BMY) plans to spend $2.4 billion to buy partner Medarex Inc. (Nasdaq: MEDX). It will get a great deal beyond the cancer monoclonal antibody that developed together.

The Medarex pipeline has substantial value.

The monoclonal antibody ipilimumab is by far the main reason that Bristol pulled the trigger. It is currently in Phase III trials for both metastatic melanoma and hormone-refractory prostate cancer.

Last month, the U.K.’s Independent reported that patients that took a single does of ipilimumab in a trial obliterated their prostate cancer. The paper called the research a “shock breakthrough.” Researchers took the unusual step of releasing case details ahead of the drug trial in which the patients took part, mostly because the recovery of those patients was so surprising. One metastatic patient apparently had a tumor the size of a golf ball. It shrank enough to be surgically removed and the patient made a full recovery.

There could be no bigger potential cancer market for a monoclonal antibody than prostate cancer. It is the largest potential cancer market with 192,280 cases diagnosed each year, according to the National Cancer Institute — more new cases than even breast cancer.

With ipilimumab, Bristol has picked up a candidate that has the potential to become a drug in not only advanced prostate cancer, but also non small-cell lung cancer and melanoma.

The other potential products in the Medarex pipeline that show promise include MDX-1106, a fully human IgG4 antibody in patients with refractory solid tumors including non-small cell lung cancer, colon cancer, melanoma, or prostate cancer. It’s in early stage trials, but so far has shown anti-tumor activity. In the future, it may be something that Bristol tests as a combination therapy along with ipilimumab.

One additional big candidate that Bristol would own if the deal gets shareholder approval would be MDX-1100, which recently went through a Phase II study in rheumatoid arthritis. The drug met its primary endpoint; full data is expected later this year.

While rheumatoid arthritis is a crowded market with market leader Humira from Abbott Laboratories Inc. (NYSE: ABT) Johnson & Johnson’s (NYSE: JNJ) Remicade and Amgen Inc. (NYSE: AMGN) and Wyeth’s (NYSE: WYE) Enbrel, there is promise with any new arthritis drug that shows safety and efficacy.  The CDC projects that the number of people age 65 or older who have arthritis or chronic joint symptoms will nearly double from 21.4 million in 2001 to 41.4 million in 2030, as more people are living longer.

Shareholders may balk at the high price Bristol plans to pay for Medarex. But there are likely to be few questions about the strength of the Medarex pipeline, or that Bristol Myers is the natural acquirer given the strength of their partnership.

Mike Tarsala

Medarex Inc. (Nasdaq: MEDX) shares are up about 90 percent after Bristol-Myers Squibb Co. (NYSE: BMY) said it plans to buy the company for $2.4 billion, or $16 a share.

Pacific Sunwear of California Inc. (Nasdaq: PSUN) shares are getting hit on a second-quarter warning.

Orexigen Therapeutics Inc. (Nasdaq: OREX) shares are falling, and are among the most actively traded Nasdaq stocks after the company proposed a 9 million-share offering.

Celgene Corp. (Nasdaq: CELG) shares are up more than 10 percent on stronger-than-expected revenue and net procedure sales growth.

Intuitive Surgical Inc. (Nasdaq: ISRG) shares are up strongly on better-than-expected earnings and strong procedure growth guidance.

eBay Inc. (Nasdaq: EBAY) shares are up after beating quarterly expectations and guiding third-quarter revenue slightly higher.

SanDisk Corp. (Nasdaq: SNDK) shares are down after it beat Q2 expectations, but gave cautious guidance.

Qualcomm Inc. (Nasdaq: QCOM) shares are falling after it beat expectations, but only guided in-line, amid analyst concerns about average selling prices.

– The 24/7 Wall St. Team

Reuters:   CIT (CIT) bond advisers will push for Chapter 11.

Reuters:   Democrats will fight with banks on consumer agency.

Reuters:   Amazon (AMZN) bought Zappos for $829 million.

Reuters:   Porsche approved Qatar talks and fired its CEO.

Reuters:   Bristol-Myers (BMY) bought Medarx (MEDX) for $2.4 billon.

Reuters:   Hyundai posted a record profit.

Reuters:   Bernanke will fight for the Fed’s independence.

Reuters:   Ebay (EBAY) posted reasonable earnings and offered hope it core business is improving.

Reuters:   Wal-Mart (WMT) is trying to improve its laptop business for the back-to-school season.

WSJ:   The jobs market is dropping faster than GDP.

WSJ:   The Federal pension agency will bail out Delphi by taking on $8.2 billion in liabilities.

WSJ:   The SEC will ban managers from having public pension fund clients if they make political contributions.

WSJ:   A rating shift by S&P (MHP) has clouded the market for mortgage securities in commercial real estate.

WSJ:   GM says global sales are picking up.

WSJ:   Intel (INTC) says that an EU fine violated its rights.

WSJ:   RIM (RIMM) warned a new update has spyware.

WSJ:   Earnings at Well Fargo (WFC) show that bad loans are still hurting banks.

WSJ:   The IMF is pushing ongoing stimulus in China.

WSJ:   Goldman Sachs (GS) bought back warrants from the US.

WSJ:   AIG (AIG) help back bonuses it was to pay last week.

WSJ:   Boeing (BA) has still not set a date for the first flight of the Dreamliner.

WSJ:   Glaxo (GSK) hopes to have flu vaccine early next year.

WSJ:   The FDA approved a Medtronic (MDT) heart valve.

WSJ:   Qualcomm (QCOM) sees signs of a cell phone rebound.

NYT:   Washington want more cuts from the pharma industry as it remakes healthcare.

FT:   US banks are warning about future write-offs on commercial property.

Douglas A. McIntyre

ArQule (ARQL) Cut to Sell at UBS.
ASML (ASML) Cut to Neutral at Piper Jaffray.
Cisco Systems (CSCO) Started as Hold at Argus.
Medarex (MEDX) Cut to Neutral at UBS.
Microsoft (MSFT) Cut to Sell at Argus.

JON C. OGG

The full presentation can be seen at BioHealthInvestor.com.

JON C. OGG
May 27, 2009

You can see that full pre-report here at BiohealthInvestor.com.  As always be advised that there may be new sets of data released between now and the actual meeting from May 29 to June 2, 2009 in Orlando, Florida.

Read the full story at BioHealthInvestor.com.

• Allos Therapeutics, Inc. (NASDAQ: ALTH)
• Amgen (NASDAQ: AMGN)
• ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA)
• Array BioPharma, Inc. (NASDAQ: ARRY)
• AstraZeneca’s (NYSE: AZN) Medimmune unit
• Biogen Idec Inc. (NASDAQ: BIIB)
• Celgene Corporation (NASDAQ: CELG)
• Curis, Inc. (NASDAQ: CRIS)
• Immunomedics, Inc. (Nasdaq: IMMU)
• ImmunoGen, Inc. (Nasdaq: IMGN)
• Infinity Pharmaceuticals, Inc. (NASDAQ: INFI)
• Medarex, Inc. (Nasdaq: MEDX)
• Momenta Pharmaceuticals, Inc. (Nasdaq: MNTA)
• Oncolytics Biotech, Inc. (NASDAQ: ONCY)
• Pfizer (NYSE: PFE)
• Pharmacyclics, Inc. (NASDAQ: PCYC)
• SuperGen Inc. (NASDAQ:SUPG)
• Telik, Inc. (Nasdaq: TELK)
• Threshold Pharmaceuticals, Inc. (Nasdaq: THLD)

You can see a full summary of the data being presented at BioHealthInvestor.com site.  There will be others presenting data this weekend, and these were from the press releases of the meeting ahead of time.

JON C. OGG