Immunomedics, Inc. (NASDAQ:IMMU) opened at $3.58 and with a gain of 2.23% closed at $3.66. Company�s fifty days average price is $3.44 whereas it has a market capitalization $275.78 million.
The total of 1.21 million shares was transacted over last trading day.
Geron Corporation (NASDAQ:GERN) opened at $4.92 and with a gain of 1.85% closed at $4.95. Company�s fifty days average price is $5.06 whereas it has a market capitalization $593.91 million.
The total of 1.90 million shares was transacted over last trading day.
Melco Crown Entertainment Ltd (NASDAQ:MPEL) opened at $6.95 and with a gain of 1.76% closed at $6.95. Company�s fifty days average price is $6.95 whereas it has a market capitalization $3.70 million.
The total of 5.14 million shares was transacted over last trading day.
Abraxas Petroleum Corp. (NASDAQ:AXAS) opened at $6.01 and with a gain of 1.70% closed at $5.97. Company�s fifty days average price is $4.49 whereas it has a market capitalization $456.07 million.
The total of 3.99 million shares was transacted over last trading day.
Sunday, April 15, 2012
Saturday, April 14, 2012
(Updated) Brocade: Goldman, S&P Downgrade; Shares Fall 10%
Shares of Brocade Communications (BRCD) are tumbling in the wake of last night’s first-quarter revenue miss. Today both Goldman Sachs and S&P Equity Research downgraded shares of the data center play.
Goldman Sachs analyst Min Park lowered the stock to Neutral from Buy and cut Brocade’s price target to $6.50 from $8, citing uneven execution, potential for weakness in Brocade’s storage networking segment and lack of near-term catalysts.
At S&P, analyst Jim Yin slices Brocade’s price target by $2 to $5.50 and lowers shares to Hold from Buy. Yin notes that a rebound in Brocade’s ethernet business was more than offset by the decline in data storage revenue.
Shares of Brocade are off 10.7%, or 63 cents, to $5.24.
Update: Canaccord Genuity thinks the selloff has created an attractive opportunity. Analyst Paul Mansky this afternoon upgraded the stock to Buy from Hold. Mansky says the second quarter holds questions related to seasonality, competition, Europe and OEM inventories. But, “we view the challenges as fully discounted, leaving attractive returns over the 6- to 12- month horizon,” he writes in a note.
Goldman Sachs analyst Min Park lowered the stock to Neutral from Buy and cut Brocade’s price target to $6.50 from $8, citing uneven execution, potential for weakness in Brocade’s storage networking segment and lack of near-term catalysts.
At S&P, analyst Jim Yin slices Brocade’s price target by $2 to $5.50 and lowers shares to Hold from Buy. Yin notes that a rebound in Brocade’s ethernet business was more than offset by the decline in data storage revenue.
Shares of Brocade are off 10.7%, or 63 cents, to $5.24.
Update: Canaccord Genuity thinks the selloff has created an attractive opportunity. Analyst Paul Mansky this afternoon upgraded the stock to Buy from Hold. Mansky says the second quarter holds questions related to seasonality, competition, Europe and OEM inventories. But, “we view the challenges as fully discounted, leaving attractive returns over the 6- to 12- month horizon,” he writes in a note.
Best Wall St. Stocks Today:
Investigating the people behind those sketchy flat-stomach ads.
By Chadwick Matlin for The Big Money
The Internet wants me to have a flat stomach�and it wants me to have it for free. Over the last few months, those flat stomach ads have followed me around the Internet like a beggar asking for money. On many of my favorite Web sites (including the ones I work for), high-class Internet advertising has been replaced by these low-budget pictures promising a better physical and superficial life.
The ads plead: Wouldn�t I like to click and read a flat-stomach testimonial? And from there, wouldn�t I like to click to see a product that could help me get that flat stomach without even trying? And from there, wouldn�t I like to order that product for free? And wouldn�t I like to give them my credit card info? And wouldn�t I like to investigate a mysterious charge on my credit card bill 30 days after I subscribe to my free product? And wouldn�t I like to hold for two hours while I try to cancel my account after I realize I�ve been had?
Read more….
By Chadwick Matlin for The Big Money
The Internet wants me to have a flat stomach�and it wants me to have it for free. Over the last few months, those flat stomach ads have followed me around the Internet like a beggar asking for money. On many of my favorite Web sites (including the ones I work for), high-class Internet advertising has been replaced by these low-budget pictures promising a better physical and superficial life.
The ads plead: Wouldn�t I like to click and read a flat-stomach testimonial? And from there, wouldn�t I like to click to see a product that could help me get that flat stomach without even trying? And from there, wouldn�t I like to order that product for free? And wouldn�t I like to give them my credit card info? And wouldn�t I like to investigate a mysterious charge on my credit card bill 30 days after I subscribe to my free product? And wouldn�t I like to hold for two hours while I try to cancel my account after I realize I�ve been had?
Read more….
Friday, April 13, 2012
AuthenTec, Inc., (AUTH) Rolls Out Into China; Share Value and Volume Soars
U.S. indices were down this morning�after China's main index plunged 6.7%, adding to a nearly 3% drop on Friday. The sell-off in Chinese shares has been fueled�by�worries over bank lending that could�affect the country's economy as a whole.
Plunging Right Ahead
Gaining over 29% ($0.62) in early trading today, AuthenTec, Inc., (AUTH) http://www.authentec.com/ set a new market cap of $77 million. AUTH is currently trading in the $2.66 range on the NASDAQ. The 3-Month average daily trading volume of AUTH is 236,362 shares and it had easily tripled that number topping 996,219 shares traded by 10:30 a.m. EST.
The volume surge and stock price gain came on Company news that AUTH will expand into the greater Chinese mainland at the direction of a new Vice President. AUTH�has headquarters in Shangai, China and is based in Melbourne, Australia. Dr. Lunji Qiu was named as Vice President & General Manager of AuthenTec China.
Dr. Qiu previously held positions as Vice President of Product Development & General Manager of Atrua Technologies, General Manager of Broadcom China, and held management and engineering positions with Motorola in Singapore.
"His background and expertise, coupled with our expansion initiatives will help us further pursue the tremendous growth opportunities not only in China but the rest of the world, as well," said Scott Moody, AuthenTec Chairman and CEO.
AuthenTec's design center in Shanghai serves as a base of operations for AuthenTec China's sof! tware de velopment, sales and technical support teams. The Company recently added three new players to its 28-member China team, including two senior field applications engineers and a sales account manager.
AUTH management noted that China is a key region for growth in AuthenTec's target markets of notebook PCs, netbooks and smartphones. AuthenTec has the broadest portfolio of silicon fingerprint sensors on the market today. On August 7, AUTH reported revenues of $8.4 million for the period ending July third, up from $7 million in the first quarter and ahead of its guidance of between $7.8 million and $8.3 million.
AUTH provides fingerprint authentication sensors and solutions to nearlt 50 million personal computer and wireless device markets via its TrueSuite and Power of Touch applications. �
At $2.66, AUTH is below its 52-week high of $8.39 set on 09-02-08 and above its 52-week low of $1.26 set on 02-27-09. At $2.66, AUTH is ahread of both its 50-day and 200-day moving averages. Auth has trailing twelve month revenues of $45 million. Its shares out versus float ratio is near-parity.
Sign-up for Free to Receive Future Commentary and Trading Alerts on AUTH
Plunging Right Ahead
Gaining over 29% ($0.62) in early trading today, AuthenTec, Inc., (AUTH) http://www.authentec.com/ set a new market cap of $77 million. AUTH is currently trading in the $2.66 range on the NASDAQ. The 3-Month average daily trading volume of AUTH is 236,362 shares and it had easily tripled that number topping 996,219 shares traded by 10:30 a.m. EST.
The volume surge and stock price gain came on Company news that AUTH will expand into the greater Chinese mainland at the direction of a new Vice President. AUTH�has headquarters in Shangai, China and is based in Melbourne, Australia. Dr. Lunji Qiu was named as Vice President & General Manager of AuthenTec China.
Dr. Qiu previously held positions as Vice President of Product Development & General Manager of Atrua Technologies, General Manager of Broadcom China, and held management and engineering positions with Motorola in Singapore.
"His background and expertise, coupled with our expansion initiatives will help us further pursue the tremendous growth opportunities not only in China but the rest of the world, as well," said Scott Moody, AuthenTec Chairman and CEO.
AuthenTec's design center in Shanghai serves as a base of operations for AuthenTec China's sof! tware de velopment, sales and technical support teams. The Company recently added three new players to its 28-member China team, including two senior field applications engineers and a sales account manager.
AUTH management noted that China is a key region for growth in AuthenTec's target markets of notebook PCs, netbooks and smartphones. AuthenTec has the broadest portfolio of silicon fingerprint sensors on the market today. On August 7, AUTH reported revenues of $8.4 million for the period ending July third, up from $7 million in the first quarter and ahead of its guidance of between $7.8 million and $8.3 million.
AUTH provides fingerprint authentication sensors and solutions to nearlt 50 million personal computer and wireless device markets via its TrueSuite and Power of Touch applications. �
At $2.66, AUTH is below its 52-week high of $8.39 set on 09-02-08 and above its 52-week low of $1.26 set on 02-27-09. At $2.66, AUTH is ahread of both its 50-day and 200-day moving averages. Auth has trailing twelve month revenues of $45 million. Its shares out versus float ratio is near-parity.
Sign-up for Free to Receive Future Commentary and Trading Alerts on AUTH
Wednesday, April 11, 2012
Barrick Gold Corp. (NYSE: ABX) Bets Big on Copper Demand in $7 Billion Deal
Barrick Gold Corp. (NYSE: ABX), the world's biggest gold company, announced a big bet on copper yesterday (Monday) with a $7.68 billion ($7.3 billion Canadian) offer for copper producer Equinox Minerals Ltd. (ASX: EQN; TSE: EQN).
Copper prices are up about 15% in the past year on higher demand from China and other developing economies.
Equinox owns two key sources of copper production: the Lumwana mine - Africa's third largest by production - in Zambia's rich copper region; and most of Saudi Arabia's Jabal Sayid project, the country's biggest deposit of the metal. At full capacity, Lumwana is expected to account for 20% of Zambia's copper production.
Copper prices are up about 15% in the past year on higher demand from China and other developing economies.
Equinox owns two key sources of copper production: the Lumwana mine - Africa's third largest by production - in Zambia's rich copper region; and most of Saudi Arabia's Jabal Sayid project, the country's biggest deposit of the metal. At full capacity, Lumwana is expected to account for 20% of Zambia's copper production.
"The acquisition of Equinox would add a high-quality, long-life asset to our portfolio and is consistent with our strategy of increasing gold and copper reserves through exploration and acquisitions," Barrick's President and Chief Executive Officer Aaron Regent said in a statement. "It's very rare that assets like this come on the market. If you look at the top 20 mines in the world, this is the only one that's actually available."
The deal will double Barrick's copper position. Barrick already produces copper at Chile's Zaldivar mine and Cerro Casale project.
Regent, like many commodities followers, is bullish on long-term copper prices.
"Directionally, I would say that most of the long-term copper price assumptions that are being used right now are understating what's going to happen," Regent said.
Barrick's offer is 1.39 times Equinox's enterprise value, higher than the average multiple offered for similar deals over the past few years, according to Bloomberg News.
"It really shows how few junior companies are available for acquisition by the major gold companies," John Stephenson, a senior portfolio manager at First Asset Investment Management Inc., ! told Bl oomberg.
Out of the 17 deals Barrick has completed since its start in the early 1980s, this deal would be the company's second-largest after a $10.2 billion purchase of Placer Dome Inc. in 2005.
Barrick is trying to diversify its gold focus to compete with global mining giants like BHP Billiton Ltd. (NYSE ADR: BHP) and Rio Tinto Plc (NYSE ADR: RIO). Barrick currently relies on gold for 80% of its revenue.
Equinox shares are up 37% this year and rose 11% on the Toronto Stock Exchange on news of the Barrick deal. The bid vales Equinox at $8.15 Canadian a share, 16% higher than a previous bid by China's Minmetals Resources. Minmetals offered $6.5 billion ($6.3 billion Canadian) on April 3, and Equinox called the bid a "lowball price."
"For Equinox shareholders, this is a great deal," John Goldsmith, a Toronto-based fund manager at Montrusco Bolton Investments Inc., told Bloomberg. "There won't be another bid higher than this. It more than fully values Equinox."
Equinox made an offer on Feb. 28 for Canadian copper and zinc producer Lundin Mining Corp. (TSE: LUN), but will drop the bid.
Gold settled at a record $1,509.10 an ounce Monday on the New York Mercantile Exchange, and hit an intraday record of $1,519.20 an ounce. Silver rallied 2.4% to close at $47.14 an ounce.
If commodities continue to climb, the deals that companies like Barrick are now making will seem like a steal compared to how high prices for mining assets could go.
"In a world where commodities are trading at ever new highs! , and y ou're looking at [the Zambian] project and the cash flow generated, the reality is today's prices may well be cheap in tomorrow's world," John Ing, an analyst at Maison Placements, told Reuters.
Mining companies are also sitting on a lot of cash, and hungry to score more assets in key producing regions.
"As de-leveraged companies compete for shrinking resources, we expect merger and acquisition activity to continue to pick up, characterized by larger deals and bolt-on acquisitions," Michael Lynch-Bell, global mining and metals transactions advisory leader at Ernst & Young, told Reuters.
Some of the biggest mining players like BHP Billiton, Rio Tinto and Xstrata Plc (LON: XTA) said instead of takeovers they are looking to spend billions on expansion efforts.
BHP said it expects to spend $80 billion on growth over the next five years.
"As one looks at a buy versus build equation, the clear opportunity for us is to continue to invest money in our organic portfolio," BHP CEO Marius Kloppers told analysts earlier this year.
Mining companies are also venturing into more politically risky regions like Papua New Guinea and Mongolia.
"If you are looking for new projects, new assets, then you have to go to those countries that are perceived to be riskier," said Lynch-Bell.
Lynch-Bell also said initial public offering (IPO) activity in the metals and mining sector should pick up in 2011 as well.
"We are certainly busier than we've been for a long time in terms of preparing companies for IPO: it's iron ore, it's coal, it's platinum," he said.
The deal will double Barrick's copper position. Barrick already produces copper at Chile's Zaldivar mine and Cerro Casale project.
Regent, like many commodities followers, is bullish on long-term copper prices.
"Directionally, I would say that most of the long-term copper price assumptions that are being used right now are understating what's going to happen," Regent said.
Barrick's offer is 1.39 times Equinox's enterprise value, higher than the average multiple offered for similar deals over the past few years, according to Bloomberg News.
"It really shows how few junior companies are available for acquisition by the major gold companies," John Stephenson, a senior portfolio manager at First Asset Investment Management Inc., ! told Bl oomberg.
Out of the 17 deals Barrick has completed since its start in the early 1980s, this deal would be the company's second-largest after a $10.2 billion purchase of Placer Dome Inc. in 2005.
Barrick is trying to diversify its gold focus to compete with global mining giants like BHP Billiton Ltd. (NYSE ADR: BHP) and Rio Tinto Plc (NYSE ADR: RIO). Barrick currently relies on gold for 80% of its revenue.
Equinox shares are up 37% this year and rose 11% on the Toronto Stock Exchange on news of the Barrick deal. The bid vales Equinox at $8.15 Canadian a share, 16% higher than a previous bid by China's Minmetals Resources. Minmetals offered $6.5 billion ($6.3 billion Canadian) on April 3, and Equinox called the bid a "lowball price."
"For Equinox shareholders, this is a great deal," John Goldsmith, a Toronto-based fund manager at Montrusco Bolton Investments Inc., told Bloomberg. "There won't be another bid higher than this. It more than fully values Equinox."
Equinox made an offer on Feb. 28 for Canadian copper and zinc producer Lundin Mining Corp. (TSE: LUN), but will drop the bid.
Commodity Prices Make for Ambitious Mining Sector
The materials sector, which includes mining, has already seen $133 billion in deals this year, more than double the $57.5 billion for the same period in 2010. This latest venture highlights how mergers and acquisitions and expansion projects are heating up in the mining sector as commodities prices continue soaring.Gold settled at a record $1,509.10 an ounce Monday on the New York Mercantile Exchange, and hit an intraday record of $1,519.20 an ounce. Silver rallied 2.4% to close at $47.14 an ounce.
If commodities continue to climb, the deals that companies like Barrick are now making will seem like a steal compared to how high prices for mining assets could go.
"In a world where commodities are trading at ever new highs! , and y ou're looking at [the Zambian] project and the cash flow generated, the reality is today's prices may well be cheap in tomorrow's world," John Ing, an analyst at Maison Placements, told Reuters.
Mining companies are also sitting on a lot of cash, and hungry to score more assets in key producing regions.
"As de-leveraged companies compete for shrinking resources, we expect merger and acquisition activity to continue to pick up, characterized by larger deals and bolt-on acquisitions," Michael Lynch-Bell, global mining and metals transactions advisory leader at Ernst & Young, told Reuters.
Some of the biggest mining players like BHP Billiton, Rio Tinto and Xstrata Plc (LON: XTA) said instead of takeovers they are looking to spend billions on expansion efforts.
BHP said it expects to spend $80 billion on growth over the next five years.
"As one looks at a buy versus build equation, the clear opportunity for us is to continue to invest money in our organic portfolio," BHP CEO Marius Kloppers told analysts earlier this year.
Mining companies are also venturing into more politically risky regions like Papua New Guinea and Mongolia.
"If you are looking for new projects, new assets, then you have to go to those countries that are perceived to be riskier," said Lynch-Bell.
Lynch-Bell also said initial public offering (IPO) activity in the metals and mining sector should pick up in 2011 as well.
"We are certainly busier than we've been for a long time in terms of preparing companies for IPO: it's iron ore, it's coal, it's platinum," he said.
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