OCLS, PPHM, SAFM, FREE, EXEL, GM US Popular Stocks
U.S. stocks traded mixed Tuesday as the Dow Jones Industrial Average fell 16 points to 8284, the S&P 500 climbed 12 points to 905 and the Nasdaq Composite edged up 16 points to 1748.
Oculus Innovative Sciences, Inc. (OCLS) 23.17% or $0.95 higher; continuing higher today following yesterday’s 240% jump on news that the company has received 510(k) clearance from the FDA to market its Microcyn Skin and Wound Gel as both a prescription and over-the-counter formulation.
Peregrine Pharmaceuticals (PPHM) is trading higher by over 71.67% huge volume of 9.96 million shares in mid-day trading session. Today in the early morning, It announced that it has provided an update on progress in the Company’s clinical program for Cotara, a targeted monoclonal antibody-based therapy being tested in a Phase II trial as a potential new treatment for recurrent glioblastoma multiforme (GBM), a deadly form of brain cancer.
Sanderson Farms Inc. (SAFM) rose 8.02 percent to $45.41 and jumped earlier to $47.19, the highest intraday price since June 12. The fourth-biggest U.S. chicken producer reported fiscal second-quarter profit more than double the average analyst estimate after three quarters of losses.
FreeSeas Inc. (Nasdaq: FREE) 31.1% HIGHER; reports Q1 EPS of $0.29, 4 cents better than the analyst estimate of $0.25 and compared to $0.01 in the same quarter last year. Revenue for the quarter was $17.6 million, versus the consensus of $17.93 million.
Exelixis ($5.58, +$1.07, +23.73%) shares surged after the biotech licensed two of its experimental cancer drugs to Sanofi-Aventis SA (SNY, $31.38, +$0.84, +2.75%) in a pact that includes a $140 million upfront payment and more than $1 billion in potential milestones. “Exelixis continues to execute strong deals and demonstrate the value of its compounds,” Lazard Capital wrote.
General Motors Corp.’s (GM, $1.27, +$0.12, +10.43%) unsecured bondholders have been offered a sweetened deal, including 15% of its new company, including warrants, in exchange for their $27 billion in debt. GM said 20% of holders are prepared to accept the offer, though it still needs 90% acceptance. The deadline is May 30. The plan includes no stake for common shareholders.
Other Stocks
Perry Ellis International Inc.’s (PERY, $7.95, +$1.14, +16.68%) fiscal first-quarter earnings fell 37%, though the clothing designer and licensor’s results beat Wall Street estimates, aided by cost cutting and strength in its golf, swim and Hispanic brands.
Visteon Corp. (VSTN, $0.07, -$0.24, -77.58%), a former division of Ford Motor Co. (F, $5.38, +$0.04, +0.75%) and one of the country’s largest auto suppliers, confirmed it filed for bankruptcy protection for its U.S. operations Thursday after continued production cutbacks by its auto maker customers eroded the company’s financial stability
Diamond Foods Inc. (DMND) gained 7.2 percent to $27.50 and earlier jumped 13 percent, the most intraday since Jan. 8. The seller of Diamond and Emerald nuts and snacks posted third- quarter profit of 16 cents a share, topping the average analyst estimate by 19 percent. The company boosted its full-year forecast.
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