Daily Markets - Stock Picks For Friday: Apple, Elan, Somaxon Pharmaceuticals, Atmel Corporation, Cell Therapeutics, Express Scripts

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• Stock Picks For Friday: Apple, Elan, Somaxon Pharmaceuticals, Atmel Corporation, Cell Therapeutics, Express Scripts
• ‘Off The Charts’
• HIG Warrants Estimated At $706M
• PACCAR Hikes Dividend
• Positive Data On Vivus’ Qnexa
• DeVry Downgraded To Neutral
• Coke Expands In Emerging Markets
• Suncor-Teck JV For Wind Project
• Statoil And FMC Sign Katla Deal
• IMGN Cancer Drug Moves Ahead
• If You Tax Something, You Get Less Of It….
• St. Jude To Demo OCT At TCT 2010
• Hologic Awaits Panel Decision
• Restructuring At Abbott Labs
• FDA Approves Oral MS Drug
• Surprise, Surprise, Surprise: Beer Industry Opposes Marijuana Legalization: “This Bud’s Not For You”
• Leading Index Improving, But Very Slowly

Stock Picks For Friday: Apple, Elan, Somaxon Pharmaceuticals, Atmel Corporation, Cell Therapeutics, Express Scripts Posted: 23 Sep 2010 06:16 PM PDT ( click to enlarge ) Elan Corporation, plc (NYSE:ELN) is setting up for a very interesting upside move. The stock hit a high of $5.26 last Tuesday, but was not able to close near this level. The past two days we have seen the stock work its way back towards Tuesday's high.  I expect to see a high volume move once the stock breaks through resistance, as traders are watching this stock closely.  Keep the stock on your screen because once ELN breaks through resistance, the stock should … [visit site to read more]

‘Off The Charts’ Posted: 23 Sep 2010 05:36 PM PDT Conventional “wisdom”: Think Tank Says ‘No Double Dip’ OECD Predicts America Will Escape Double-Dip Recession Barclays: Don’t Expect A Double Dip BlackRock’s Doll-US Data Lowers Odds of Double-Dip Goldman’s Cohen Says Double Dip Recession ‘Extremely Unlikely’ CEA Goolsbee: US Will Avoid Double Dip Economy’s Looking Up for Now as Double-Dip Fears Ease IMF Strauss-Kahn: Don’t Expect Double-Dip In Advanced Economies Fed Regional Survey Shows No Sign of ‘Double Dip’‎ Retailers: No Signs of a … [visit site to read more]

HIG Warrants Estimated At $706M Posted: 23 Sep 2010 03:05 PM PDT Diluting its ownership in Hartford Financial Services Group Inc. (NYSE:HIG) on Wednesday, the US Treasury auctioned 52.1 million 10-year warrants at a sale price of $13.70 per warrant, thereby raising $706.3 million in the process. These warrants carried a minimum bidding price of $10.50 per warrant. The sale is expected to close by September 27, 2010. Deutsche Bank Securities Inc. of Deutsche Bank AG (NYSE:DB) acted as the auction agent for the Dutch auction that was organized to price HIG's … [visit site to read more]

PACCAR Hikes Dividend Posted: 23 Sep 2010 03:05 PM PDT PACCAR Inc. (NASDAQ:PCAR) has declared a 33% rise in its quarterly dividend payment from 9 cents to 12 cents per share. The hiked dividend will be paid on December 6, 2010 to shareholders of record as of November 19, 2010. The management has asserted that the rise in dividend is mainly driven by the company's impressive performance in the last two quarters. In the first half of the year, the company's profit more than tripled to $167.9 million or 46 cents per share from $52.8 million or 14 … [visit site to read more]

Positive Data On Vivus’ Qnexa Posted: 23 Sep 2010 02:35 PM PDT Vivus Inc. (NASDAQ:VVUS) recently announced positive data from a two-year trial of its weight loss, once-daily pill Qnexa. The data, reported from the extended 52-week SEQUEL study, covered 675 overweight or obese patients. The SEQUEL trial followed the 56-week CONQUER trial. The patients who took the highest dose of Qnexa during the total 108 weeks of the study experienced and maintained an average weight loss of 11.4% or 26 pounds. The candidate was well tolerated in the SEQUEL study, with the … [visit site to read more]

DeVry Downgraded To Neutral Posted: 23 Sep 2010 02:35 PM PDT We currently downgrade the shares of DeVry Inc. (NYSE:DV) from Outperform to Neutral due to intense competition from public and private colleges and the risks associated to regulatory matters as well as government-funded financial aid programs that may limit the above-market performance of the company. With a market cap of $4 billion, DeVry is a leading provider of post-secondary educational services in North America. Moreover, the company has a rich experience of more than 75 years in the … [visit site to read more]

Coke Expands In Emerging Markets Posted: 23 Sep 2010 02:35 PM PDT The Coca Cola Company (NYSE:KO), the largest global producer and marketer of still and sparkling beverages, announced its intention to invest about $121 million in a new plant in Karnataka, Southern State of India. The investment is in line with the company's strategy to expand its operations in developing and emerging markets. Coca Cola has also been expanding its presence in emerging markets through the introduction of water and juices. Apart from making sparkling and still beverages the … [visit site to read more]

Suncor-Teck JV For Wind Project Posted: 23 Sep 2010 02:05 PM PDT Canada's premier integrated energy company, Suncor Energy (NYSE:SU), has paved the way to start the construction of the planned 88 megawatt (MW) Wintering Hills Wind Power Project in Alberta. The project was approved by the Alberta Utilities Commission ("AUC") in June, 2010. This wind power project is a joint venture of Suncor Energy and Teck Resources Limited (NYSE:TCK), with the former holding 70% operational interest and the remaining 30% being held by the latter. The financial terms of the … [visit site to read more]

Statoil And FMC Sign Katla Deal Posted: 23 Sep 2010 01:35 PM PDT The fast-track development projects of Norway-based Statoil ASA (NYSE:STO) are actively underway. As part of these endeavors, Statoil joined hands with FMC Technologies Inc. (NYSE:FTI) to manufacture and supply subsea production equipments for the Katla development project. The contract has a value of approximately $75 million in revenues to FMC Technologies.   In June 2010, Statoil entered into a deal with technology services provider, FMC Technologies, covering subsea production equipment for … [visit site to read more]

IMGN Cancer Drug Moves Ahead Posted: 23 Sep 2010 01:35 PM PDT ImmunoGen Inc. (NASDAQ:IMGN) recently announced that it has moved its oncology candidate SAR566658 into clinical testing. SAR566658 is being developed as a treatment for ovarian, breast, cervical, lung and pancreatic cancers. ImmunoGen has an agreement with Sanofi-Aventis (NYSE:SNY) for the development of SAR566658, and the initiation of clinical testing resulted in a $1 million milestone payment from Sanofi-Aventis. SAR566658 has been developed using ImmunoGen's Targeted Antibody Payload (TAP) … [visit site to read more]

If You Tax Something, You Get Less Of It…. Posted: 23 Sep 2010 01:31 PM PDT WSJ — “Last year, Congress sharply increased the federal excise tax on “little” cigars—filtered, often sweetly favored products that are similar in size and shape to cigarettes. Some manufacturers responded by increasing the weight of their little cigars so they qualified as conventional, “large” cigars, which are taxed at lower rates. Now, a surge in sales of the small, inexpensive cigars is attracting the scrutiny of members of Congress and a prominent anti-smoking group, who say that … [visit site to read more]

St. Jude To Demo OCT At TCT 2010 Posted: 23 Sep 2010 01:05 PM PDT Medical devices giant St. Jude Medical Inc. (STJ) will showcase its recently launched Optical Coherence Tomography (OCT) technology (a next-generation imaging technology) platform at the 2010 Transcatheter Cardiovascular Therapeutics (TCT) scientific meet in Washington, DC. TCT is the world's largest educational meeting focused on interventional cardiovascular medicine.   OCT is an optical signal acquisition and processing technique that employs near-infrared light to generate … [visit site to read more]

Hologic Awaits Panel Decision Posted: 23 Sep 2010 01:05 PM PDT Hologic (HOLX), a leading player which caters to the healthcare needs of women, is seeking marketing approval for its three dimensional (3D) breast imaging platform, Selenia Dimensions system. Selenia has been developed on the Dimensions platform utilizing tomosynthesis technology to produce both 3D and the conventional two dimensional (2D) full field digital mammography (FFDM) images. The images can be used for screening and diagnosis of breast cancer.   While Selenia has received an … [visit site to read more]

Restructuring At Abbott Labs Posted: 23 Sep 2010 12:35 PM PDT In a recent filing with the US Securities and Exchange Commission (SEC), Abbott Labs (ABT) announced its intention to implement a restructuring plan related to its Feb 2010 acquisition of Belgian company Solvay Group’s pharmaceuticals business.   The decision was based on an evaluation of Solvay Pharmaceuticals' research and development portfolio, manufacturing operations, commercial structure and global support functions. The company has decided to streamline operations along with … [visit site to read more]

FDA Approves Oral MS Drug Posted: 23 Sep 2010 12:35 PM PDT Novartis AG (NVS) received a huge boost recently with the US Food and Drug Administration (FDA) approving its oral multiple sclerosis (MS) drug, Gilenya. Gilenya is the first oral treatment to gain US approval for the first-line treatment of relapsing forms of MS. The drug is shown to significantly reduce relapse rates and delay disability progression.   The FDA approved Novartis' drug along with a Risk Evaluation and Mitigation Strategy (REMS) which will inform patients and physicians … [visit site to read more]

Surprise, Surprise, Surprise: Beer Industry Opposes Marijuana Legalization: “This Bud’s Not For You” Posted: 23 Sep 2010 12:05 PM PDT “The California Beer & Beverage Distributors is spending money in the state to oppose a marijuana legalization proposition on the ballot in November, according to records filed with the California Secretary of State. The beer sellers are the first competitors of marijuana to officially enter the debate; backers of the initiative are closely watching liquor and wine dealers and the pharmaceutical industry to see if they enter the debate in the remaining weeks.” HT: Huffington Post, via … [visit site to read more]

Leading Index Improving, But Very Slowly Posted: 23 Sep 2010 11:55 AM PDT The Conference Board reported today that the U.S. Leading Economic Index reached a new high of 110.2 in August, and increased for the 15th time in the last 17-month period that started in April 2009 just before the recession ended.  Today’s announcement follows recent reports from the Conference Board that its July Leading Indexes increased in Germany, France, Spain, China, and the U.K.; and fell in Korea and Japan in July.   Ken Goldstein, economist at … [visit site to read more]

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