Today’s Market Winners and Losers

As investors brace for Wednesday’s congressional testimony from Federal Reserve Chairman Ben Bernanke, the stock market is up modestly. The Dow Jones Industrial Average is up 0.38%, the Nasdaq is up 0.86% and the S&P 500 is up 0.47%. Today’s market winners were both pharmaceutical companies who received a patent and FDA approval, respectively, for their drugs. Meanwhile, one of today’s losers is a biopharmaceutical company going through a market correction after a big rise Tuesday. Another loser is a digital tech firm who issued a profit warning.

Here are Monday’s market winners and losers.

Biggest Winners

Shares of Galena Biopharma (NASDAQ: GALE) are up 20% to $2.05 on trading volume of 12.1 million shares. The company received a patent for NeuVax, which is intended to help curb breat cancer recurrence. The 52-week high is $3.54.

Shares of Vivus (NASDAQ: VVUS) are up 13.37% to $30.00 on trading volume of 19.5 million shares. The FDA on Tuesday approved Qsymia, which is intended to help adults struggling with conditions related to obesity. Before Wednesday, the 52-week high was $29.99

Biggest Losers

Shares of Rovi (NASDAQ: ROVI) fell 40.37% to $10.52 on trading volume of 15.4 million shares. The digital media firm announced Wednesday that excluding special items, shareholders would likely earn 38 cents a share in 2012, compared to Bloomberg compiled analyst estimates of 57 cents . Before Wednesday, the 52-week low was $17.20.

Shares of StemCells Inc. (NASDAQ: STEM) fell 17.78% to $1.48 on trading volume of 5.6 million shares. Shares rose nearly 40% on Tuesday after the company announced solid results of a stem-cell therapy study targeted toward patients with Alzheimer’s. The stock is therefore correcting itself.  The 52-week low is $0.59.

Samuel Weigley

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