Unusual 11 Mid-Day Movers 7/20: HGSI, YRCW, OREX, HEB Higher; INFN, MSB, TSN, NL Lower
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Human Genome Sciences, Inc. (NASDAQ: HGSI) 240% HIGHER; HGSI and GlaxoSmithKline PLC (NYSE: GSK) announced that BENLYSTA met the primary endpoint in BLISS-52, the first of two pivotal Phase 3 trials in patients with serologically active systemic lupus erythematosus. Click here for the full report.
YRC Worldwide Inc. (Nasdaq: YRCW) 20.2% HIGHER; despite rumors that YRC could be the next transportation company to file for Chapter 11 restructuring, the stock is spiking today on heavier-than-normal volume. We have not heard anything that would push shares higher this morning, although a 31% short percent could be adding to upside today.
Infinera (Nasdaq: INFN) 20% LOWER; Jefferies & Co downgrades from Hold to Underperform. Click here to see more color on the downgrade.
Orexigen(R) Therapeutics, Inc. (Nasdaq: OREX) 19.5% HIGHER; announced that all three remaining Phase 3 trials evaluating Contrave(R), its investigational drug for the treatment of obesity, met their co-primary endpoints. The results from the successfully completed Contrave Obesity Research, or COR, program of more than 4,500 patients exceed the FDA categorical efficacy benchmark for clinically significant weight loss, supporting the Company's plan to file a New Drug Application with the US FDA in the first half of 2010.
Mesabi Trust (NYSE: MSB) 19.5% LOWER; after the close Friday, announced that it will not not distribute any royalty income for the three months ended July 31, 2009.
Hemispherx BioPharma (AMEX: HEB) 17.5% HIGHER; the company will issue an update on its Influenza research initiatives via a teleconference on Wednesday, July 22 at 10am ET. Click here for the full report on Hemispherx.
TerreStar Corporation (Nasdaq: TSTR) 17.4% HIGHER; announced today the successful completion of an end-to-end phone call over TerreStar-1, the world's largest, most advanced commercial communications satellite. The call was completed between two of TerreStar's quad-band GSM and tri-band WCDMA/HSPA smartphones with integrated satellite-terrestrial voice and data capabilities. The call not only demonstrates the power of TerreStar-1 and the TerreStar smartphone, but also showcases the flexibility of TerreStar's all-IP core network.
Affymetrix (Nasdaq: AFFX) 16.4% HIGHER; Morgan Stanley upgrades from Underweight to Equalweight.
Tyson Foods (NYSE: TSN) 9.5% LOWER; downgraded at both Deutsche Bank and BMO Capital.
NL Industries, Inc. (NYSE: NL) 8.9% LOWER; A Dallas County jury has awarded more than $178 million to minority shareholders of an NL Industries, Inc. subsidiary who alleged that a pattern of misconduct deprived them of the true value of their investment.
Labopharm Inc. (NASDAQ: DDSS) 8.6% LOWER; received a complete response letter from the FDA for the new drug application submission of its novel formulation of the antidepressant trazodone. The letter indicates Labopharm's application cannot be approved in its present form due to deficiencies following an FDA inspection of the active pharmaceutical ingredient manufacturing facility, which was completed July 3, 2009. Click here for the full report.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
YRC Worldwide Inc. (Nasdaq: YRCW) 20.2% HIGHER; despite rumors that YRC could be the next transportation company to file for Chapter 11 restructuring, the stock is spiking today on heavier-than-normal volume. We have not heard anything that would push shares higher this morning, although a 31% short percent could be adding to upside today.
Infinera (Nasdaq: INFN) 20% LOWER; Jefferies & Co downgrades from Hold to Underperform. Click here to see more color on the downgrade.
Orexigen(R) Therapeutics, Inc. (Nasdaq: OREX) 19.5% HIGHER; announced that all three remaining Phase 3 trials evaluating Contrave(R), its investigational drug for the treatment of obesity, met their co-primary endpoints. The results from the successfully completed Contrave Obesity Research, or COR, program of more than 4,500 patients exceed the FDA categorical efficacy benchmark for clinically significant weight loss, supporting the Company's plan to file a New Drug Application with the US FDA in the first half of 2010.
Mesabi Trust (NYSE: MSB) 19.5% LOWER; after the close Friday, announced that it will not not distribute any royalty income for the three months ended July 31, 2009.
Hemispherx BioPharma (AMEX: HEB) 17.5% HIGHER; the company will issue an update on its Influenza research initiatives via a teleconference on Wednesday, July 22 at 10am ET. Click here for the full report on Hemispherx.
TerreStar Corporation (Nasdaq: TSTR) 17.4% HIGHER; announced today the successful completion of an end-to-end phone call over TerreStar-1, the world's largest, most advanced commercial communications satellite. The call was completed between two of TerreStar's quad-band GSM and tri-band WCDMA/HSPA smartphones with integrated satellite-terrestrial voice and data capabilities. The call not only demonstrates the power of TerreStar-1 and the TerreStar smartphone, but also showcases the flexibility of TerreStar's all-IP core network.
Affymetrix (Nasdaq: AFFX) 16.4% HIGHER; Morgan Stanley upgrades from Underweight to Equalweight.
Tyson Foods (NYSE: TSN) 9.5% LOWER; downgraded at both Deutsche Bank and BMO Capital.
NL Industries, Inc. (NYSE: NL) 8.9% LOWER; A Dallas County jury has awarded more than $178 million to minority shareholders of an NL Industries, Inc. subsidiary who alleged that a pattern of misconduct deprived them of the true value of their investment.
Labopharm Inc. (NASDAQ: DDSS) 8.6% LOWER; received a complete response letter from the FDA for the new drug application submission of its novel formulation of the antidepressant trazodone. The letter indicates Labopharm's application cannot be approved in its present form due to deficiencies following an FDA inspection of the active pharmaceutical ingredient manufacturing facility, which was completed July 3, 2009. Click here for the full report.
To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers.
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