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Very interesting article indeed!
Coming Up This Week:
TUESDAY: Business inventories, 13-F filings due
WEDNESDAY: Weekly mortgage apps, CPI, Empire state mfg survey, Treasury int'l capital, industrial production housing market index, oil inventories, Fed's Kocherlakota speaks, credit card default rates reported, Facebook lock-up expiration, Forest Labs shareholders mtg; Earnings from Deere, Target, Cisco, Applied Materials, Limited Brands
THURSDAY: Housing starts, jobless claims, Philadelphia Fed survey, e-commerce retail sales, Fed's Kocherlakota speaks; Earnings from Wal-Mart, Dollar Tree, Sears, Ross Stores, Aeropostale, Gap
FRIDAY: Consumer sentiment, leading indicators; Earnings from Ann, JM Smuckers, Foot Locker
Futures Edge Higher After Retail Sales Report
Published: Tuesday, 14 Aug 2012
By: CNBC
U.S. stock index futures added to gains Tuesday following better-than-expected retail sales and after both French and German gross domestic product (GDP) data beat expectations.
Retail sales rose 0.8 percent in July, climbing for the first time in four months, according to the Commerce Department. Economists polled by Reuters had expected retail sales to gain 0.3 percent.
Producer prices gained 0.3 percent in July, the fastest pace in five months in July, according to the Labor Department. Analysts polled by Reuters expected the index to rise 0.2 percent. The increase was mainly driven by gains in consumer goods, with light trucks up 1.6 percent and pharmaceuticals up 0.9 percent. But energy prices fell 0.4 percent last month.
In Europe, France's GDP remained flat in the second quarter compared to the previous quarter; economists had expected a 0.1 percent decline, which would have tipped the country into recession. And German GDP rose 0.3 percent on the previous quarter, sending European shares higher. (Read More: The Secret to Germany's Economic Strength)...
Big Board watch Tuesday. [MiamiGent].
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78500664
Stocks to Watch Tuesday: Groupon, Las Vegas Sands
BY MarketWatch 6:00 PM ET 08/13/2012
CHICAGO (MarketWatch) - Groupon Inc. (GRPN) http://stockcharts.com/h-sc/ui?s=GRPN, Home Depot Inc. (HD) http://stockcharts.com/h-sc/ui?s=HD, Las Vegas Sands (LVS) http://stockcharts.com/h-sc/ui?s=LVS and Dick's Sporting Goods Inc. (DKS) are among the stocks that could see active trading on Tuesday.
After the market closed on Monday, Groupon (GRPN) shares plunged 15% in evening trading, after the company reported weaker-than-expected second-quarter revenue and issued a mild third-quarter outlook.
Nevada regulators are investigating casino Las Vegas Sands Corp. (LVS) for possible bribery law violations, a Reuters report said late Monday. The probe by the Nevada Gaming Control Board comes on top of investigations by the U.S. Department of Justice and the Securities and Exchange Commission disclosed last week by the Wall Street Journal.
Monster Beverage (MNST) http://stockcharts.com/h-sc/ui?s=MNST said late Monday its board doubled the company's share repurchase program to $500 million. The move comes as shares of the energy drinks maker have tumbled 21% since its Aug. 8 earnings report.
On Tuesday morning, Home Depot Inc. (HD) is expected to report second-quarter earnings of 97 cents a share on sales of $20.74 billion, according to a poll of analysts taken by FactSet.
TJX Cos (TJX) http://stockcharts.com/h-sc/ui?s=TJX. is expected to report a second-quarter profit of 55 cents a share on sales of $6 billion.
Estee Lauder Cos (EL) http://stockcharts.com/h-sc/ui?s=EL. is expected to report fourth-quarter earnings of 16 cents a share on sales of $2.21 billion.
Dick's Sporting Goods Inc. (DKS) http://stockcharts.com/h-sc/ui?s=DKS is seen reporting a second-quarter profit of 64 cents a share on sales of $1.44 billion.
Valspar Corp. (VAL) http://stockcharts.com/h-sc/ui?s=VAL is expected to report third-quarter earnings of 96 cents a share on revenue of $1.13 billion.
Towers Watson & Co. (TW) http://stockcharts.com/h-sc/ui?s=TW is seen posting a fourth-quarter profit of $1.24 a share on revenue of $868.7 million.
Saks Inc. (SKS) http://stockcharts.com/h-sc/ui?s=SKS is expected to report a loss of 9 cents a share for the second quarter, on sales of $690.6 million.
Cellcom Israel Ltd. (CEL) http://stockcharts.com/h-sc/ui?s=CEL is expected to report a second-quarter profit of 26 cents a share on revenue of $381.4 million.
Michael Kors Holdings Ltd. (KORS) http://stockcharts.com/h-sc/ui?s=KORS is expected to report first-quarter earnings of 20 cents a share on revenue of $368.3 million.
Cache Inc. (CACH) http://stockcharts.com/h-sc/ui?s=CACH is seen posting second-quarter earnings of 20 cents a share on revenue of $61.6 million.
ARWR. 7 AM. Arrowhead Enters into Antibody Candidate Evaluation Agreement with Merck
http://ih.advfn.com/p.php?pid=nmona&article=53812787
10-Q after-close 8/13/12
common stock outstanding as of August 3, 2012 was 11,310,816.
http://ih.advfn.com/p.php?pid=nmona&article=53805930
Good morning dDT. Appreciate your work. InterestingArticle:
WSJournal.
http://blogs.wsj.com/economics/2012/08/10/evidence-against-short-sale-bans/?mod=WSJBlog&mod=marketbeat
Evidence Against Short Sale Bans
By Neal Lipschutz
New research supports the notion that instituting temporary short-selling bans during stock market downturns doesn’t do any good.
Bloomberg News
This might not seem like shocking news to those who believe you have to let market forces play themselves out, even in volatile times, and to those who distinguish between the impact of short selling, the borrowing of shares with the expectation of buying them later at a lower price, and flat-out selling.
Nonetheless, the regulatory bans go on. Just last month, temporary short-selling bans of sorts were put in place in Italy and Spain.
In this latest look at short-selling bans, Federal Reserve Bank of New York economist Hamid Mehran teamed with Robert Battalio and Paul Schultz, both of whom are finance professors at the University of Notre Dame.
Harkening back to the dark days of the financial crisis in the U.S., they studied the two-week ban on short selling of financial stocks that was imposed in 2008 in a futile attempt to stop the massive sector bleeding.
“The 2008 ban on short sales failed to slow the decline in the price of financial stocks; in fact, prices fell markedly…and stabilized once it [the ban] was lifted,” the economists wrote in the latest issue of the New York Fed’s Current Issues in Economics and Finance.
And lest you think this tilting at windmills by banning short sales is a harmless sort of regulatory exercise by perplexed officials in the midst of a crisis, the trio begs to differ.
“If anything, the bans seem to have unwanted effects of raising trading costs, lowering market liquidity and preventing short sellers from rooting out cases of fraud and earnings manipulation,” the economists write.
So there’s even a cheer for often maligned short sellers in their role as market watchdogs.
The researchers’ final words: “While short sellers may bear bad news about companies’ prospects, they do not appear to be driving price declines in markets.”
Pfizer to Pay $250 Million up Front to Sell OTC Version of AstraZeneca's Nexium
By Peter Loftus
Pfizer Inc. (PFE) agreed to pay $250 million to AstraZeneca PLC (AZN) for rights to sell a version of the blockbuster heartburn pill Nexium that doesn't require a doctor's prescription.
More such deals could follow. The companies said Monday they are exploring a potential strategic partnership for over- the-counter versions of other AstraZeneca drugs.
Nexium, which treats symptoms of acid reflux disease, is one of the best-selling prescription drugs in the world, generating $4.4 billion in sales for 2011. But the drug is due to lose U.S. market exclusivity in 2014 under the terms of legal settlements with generic-drug manufacturers.
An OTC version of Nexium would try to maximize the value of the Nexium brand--also known as the "Purple Pill"--beyond 2014. Pfizer said it expects to begin selling OTC Nexium in the U.S. in 2014, subject to regulatory approval.
The deal illustrates why Pfizer wanted to hang onto its consumer-healthcare unit, even as it moves to shed other assets such as animal health. Pfizer has said it wants to capitalize on opportunities to switch branded, prescription- only drugs to nonprescription OTC products, potentially including its own Lipitor cholesterol pill.
Pfizer acquired exclusive rights to market Nexium for approved OTC indications in the U.S., Europe and elsewhere. AstraZeneca will receive milestone and royalty payments based on product launches and sales.
AstraZeneca will continue to manufacture and market the prescription version of Nexium, and supply Pfizer with the OTC product upon regulatory approval.
An application for European regulatory approval of OTC Nexium was filed in June. The companies said an application for U.S. Food and Drug Administration approval is expected to be filed in the first half of 2013.
The companies said they are exploring "the potential for a strategic partnership" that could include other selling OTC versions of other AstraZeneca brands. They have signed an agreement giving Pfizer a right of first refusal for OTC rights for Rhinocort Aqua, a respiratory pump spray.
AstraZeneca made a similar prescription-to-OTC switch with an older heartburn drug, Prilosec, in an alliance with Procter & Gamble Co. (PG).
Both AstraZeneca and Pfizer have been pressured by competition from generic versions of their drugs. Both companies have cut costs and pursued deals to help cushion the impact of patent expirations for top-selling drugs.
Pfizer on Monday also filed plans with the U.S. securities regulators to publicly sell up to a 20% ownership stake in its animal-health unit, as it works to shed certain businesses and hone its focus on human pharmaceuticals.
As a result of the deal with AstraZeneca, Pfizer lowered its forecast of full-year 2012 adjusted earnings to a range of $2.12 to $2.22 per share, from a prior range of $2.14 to $2.24 a share, due to a slight increase its target for adjusted research and development expense.
AstraZeneca said the upfront payment from Pfizer will boost its core earnings-per-share by about 16 cents for 2012, to a forecast range of $6 to $6.30 per share.
Merck & Co. (MRK) has a financial interest in Nexium and Prilosec as a result of a longstanding joint venture. The companies recently amended their agreement, pushing out AstraZeneca's option to buy out Merck's interest to 2014 from 2012.
AstraZeneca's American depositary shares rose 0.8% to $47.49 in after-hours trading, while Pfizer was off 0.1% at $ 23.70.
Write to Peter Loftus at peter.loftus@dowjones.com
Kristin Jones contributed to this article.
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
08-13-121802ET
Copyright (c) 2012 Dow Jones & Company, Inc.
ACOR - Acorda Therapeutics' MS Drug Fails at Low Dose, Shares Rise
By Brett Chase Aug 13, 2012 1:10 pm
The company tested its treatment Ampyra at the FDA's request. The drug's success at a lower dose would have created a strategic challenge.
MINYANVILLE ORIGINAL Usually when a company’s drug fails in a study, investors sell the stock. Acorda Therapeutics (ACOR) is trading higher Monday after the company said that a low dose of its multiple sclerosis treatment Ampyra didn’t meet a study goal.
Following US approval of Ampyra in 2010, the company was required by the Food and Drug Administration to test the medicine at a dose of 5 milligrams twice a day. The drug, which helps MS patients improve their ability to walk, is approved in the US at 10 milligrams twice daily, but the FDA wants to make certain that a lower dose of the drug wouldn’t work just as well. (Lower doses usually mean potentially fewer side effects.)
Acorda CEO Ron Cohen says the study shows that Ampyra is approved at the right dosage and he believes the commitment to the FDA to test the drug post approval is complete pending a follow-up meeting with the agency.
“Ten milligrams twice daily is the appropriate safe and effective dose,” Cohen told investors and analysts on a conference call Monday.
There was concern among investors that if Ampyra showed evidence of working at a lower dose, the FDA would require future testing and, ultimately, the drug would be reformulated. The problem with that: Acorda’s patents largely focus on the 10 milligram formulation, protecting the drug for that dose through 2027. The drug isn’t protected nearly as long for the lower dose indication.
Shares of Acorda rose 3% to $22.40 in midday trading Monday. They have dropped 6% this year.
The company isn’t out of the woods yet. The FDA may decide that further study is warranted.
Something else stood out in the brief research description provided by the company. Not only did the drug not work at helping MS patients’ walking speed at the low dose, but the drug didn’t meet the study’s goal at the approved dose. The company explained that the goal of the post-approval study was different than the endpoint of the pivotal trial that helped Acorda win US market clearance.
While Acorda executives explained the nuances of the two studies and assured investors that there would be no fallout from the recent study, some analysts are skeptical.
The study removes an overhang on the stock but “the data also raise new questions about the marketed dose’s benefits,” Robert W. Baird analyst Christopher Raymond says in a note. “Given this and given our consistent feedback that physicians have not been overwhelmed by Ampyra’s efficacy in the first place, we remain on the sidelines.”
Acorda spokesman Jeff Macdonald counters that there are plenty of doctors prescribing the drug to their patients. More than 65,000 patients have used the drug, he says. In addition to previous studies of Ampyra, there are a couple of years of physicians’ experience with the treatment to draw conclusions.
Ampyra accounts for most of Acorda’s sales and almost all of its product revenue. The company reported sales of $146.9 million through the first six months of 2012, a 16% increase from the same period a year earlier. Net income for the first half of this year was $12.4 million, compared with a $957,000 loss in the year-earlier period.
CRMB is now correcting its new-volume.
And we will see what that may bring.
Its been on my watch list for months.
I just got lucky calling it out here one day before news.
I'd mentionned it a few times as a sleeper and
picked it on a board that way. August 4th.
hmmm, 2 days before the Starbucks announcement.
nice.
The original mods - the cupcakes qwertytrader bought,
in New York City; and He ate.
My pleasure Charles ...
Tankers ones day, bankers the other day
Umm...Wow! CRMB up huge, I was just checking my watch list on that one you alerted the day before the big pop, congrats!
Thanks for the list Dan, a lot of nice tankers today.
GRPN now down -18% :)
ANW -Aegean Marine Petrol reports EPS in-line, beats on revs (ANW) 6.21 +0.03 : Reports Q2 (Jun) earnings of $0.15 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate consensus of $0.15; revenues rose 6.4% year/year to $1.89 bln vs the $1.75 bln consensus.
Aegean Marine Petroleum Network Inc. Announces Second Quarter 2012 Financial Results
PR NewswirePress Release: Aegean Marine Petroleum Network Inc. – 1 hour 29 minutes ago
PIRAEUS, Greece, Aug. 13, 2012 /PRNewswire/ -- Aegean Marine Petroleum Network Inc. (ANW) ("Aegean" or the "Company") today announced financial and operating results for the second quarter ended June 30, 2012.
Second Quarter and Year-to-Date Highlights
Recorded sales volumes of 2,714,176 metric tons.
Expanded gross profit to $80.0 million.
Recorded operating income of $15.3 million.
Operating income excluding a non-cash loss from the sale of non-core vessels was $19.5 million (see Note 10).
Reported net income of $2.7 million attributable to AMPNI shareholders or $0.06 basic and diluted earnings per share which included a net book loss of $4.2 million from the sale of non-core vessels.
Net income adjusted for the book loss was $6.9 million attributable to AMPNI shareholders or $0.15 basic and diluted earnings per share.
Reported EBITDA (as defined in Note 1) of $21.0 million.
Adjusted EBITDA excluding the non-cash loss was $25.2 million in Q2 2012.
Expanded global integrated marine fuel logistics chain.
The Company recorded adjusted net income attributable to AMPNI shareholders for the three months ended June 30, 2012 of $6.9 million, or $0.15 basic and diluted earnings per share. On a GAAP basis, and including a $4.2 million net non-cash loss from the sale of non-core vessels, the company reported net income of $2.7 million, or $0.06 basic and diluted earnings per share. For purposes of comparison, the Company reported net income of $3.2 million, or $0.07 basic and diluted earnings per share, for the three months ended June 30, 2011. The weighted average basic and diluted shares outstanding for the three months ended June 30, 2012 were 45,465,514. The weighted average basic and diluted shares outstanding for the three months ended June 30, 2011 were 46,297,185 and 46,056,474 respectively.
Total revenues for the three months ended June 30, 2012, increased by 6.4% to $1,888.1 million compared to $1,774.9 million for the same period in 2011. For the three months ended June 30, 2012, sales of marine petroleum products increased by 6.1% to $1,874.6 million compared to $1,766.3 million for the same period in 2011. Gross profit, which equals total revenue less directly attributable cost of revenue increased by 15.3% to $80.0 million in the second quarter of 2012 compared to $69.4 million in the same period in 2011.
For the three months ended June 30, 2012, the volume of marine fuel sold increased by 3.0% to 2,714,176 metric tons as compared to 2,635,881 metric tons in the same period in 2011.
Adjusted operating income for the second quarter 2012 increased by 78.9% to $19.5 million as compared to $10.9 million for the same period in 2011. Operating income including a one-time net loss on sale of non-core vessels was $15.3 million. Operating expenses, excluding directly attributable cost of revenue, increased by $6.2 million, or 10.6%, to $64.7 million for the three months ended June 30, 2012 as compared to $58.5 million for the same period in 2011. This increase was principally due to an expanded logistics infrastructure.
E. Nikolas Tavlarios, President, commented, "During the second quarter, we continued to achieve important progress executing our strategy to enhance Aegean's operational and financial performance in a challenging market environment. Based on the steady improvement in our results over the past year and a half, we increased adjusted EBITDA 34% compared to the year-earlier period while strengthening the Company's future prospects. Specifically, we further expanded our global reach by entering into a strategic alliance that enables Aegean to establish an initial footprint in mainland China. We also recently announced expansion plans in Barcelona, Spain. This new and attractive market provides significant growth potential as we seek to take advantage of our scalable and high quality logistics infrastructure following the completion of our fully funded newbuild program in the second quarter. Complementing the growth in our global full-service platform, we took proactive measures to improve our cost structure with the sale of additional non-core assets. With an expansive and more efficient integrated marine fuel logistics chain, combined with a strong financial foundation, we remain well positioned to strengthen Aegean's leading brand as a global independent supplier of marine fuel and expand the Company's future earnings power."
Read more ...
FENG - Phoenix New Media Reports Second Quarter 2012 Unaudited Financial Results
2Q12 Total Revenues Up 24.5% YOY
2Q12 Net Advertising Revenues Up 29.5% YOY
Announces US$20 Million Share Repurchase Program
Live Conference Call to be Held at 9:00 PM U.S. Eastern Time on August 13
PR NewswirePress Release: Phoenix New Media Limited – 30 minutes ago
BEIJING, Aug. 13, 2012 /PRNewswire-Asia/ -- Phoenix New Media Limited (FENG), a leading new media company in China ("Phoenix New Media", "ifeng" or the "Company"), today announced its unaudited financial results for the second quarter ended June 30, 2012.
Second Quarter 2012 Highlights
Total revenues increased by 24.5% year-over-year to RMB283.4 million (US$44.6 million), driven by a 29.5% increase in net advertising revenues and a 19.5% increase in paid service revenues.
Net income attributable to Phoenix New Media was RMB35.0 million (US$5.5 million), as compared to RMB36.2 million in the second quarter of 2011.
Adjusted net income attributable to Phoenix New Media[1] was RMB37.9 million (US$6.0 million), as compared to RMB44.8 million in the second quarter of 2011.
Mr. Shuang Liu, CEO of Phoenix New Media, stated, "China's continuing macro-economic uncertainty resulted in the second quarter being more challenging than previously anticipated. In particular, our advertising business growth experienced softness as we witnessed a few of our advertisers delaying advertising spending more than initially forecasted. However, our advertisers significantly increased their average spending by 53% resulting in average revenue per advertiser growing to over RMB650,000 from RMB425,000 in the second quarter of 2011. This clearly reflects the value placed on ifeng's media platform by advertisers looking to cost-effectively target the high-end viewer demographics that our platform provides."
Mr. Liu continued, "Even though the advertising front experienced softness, our user traffic growth continued to outpace our peers' over the past quarter. Daily unique visitors grew by over 62% year-over-year, reaching 26.4 million in June, whereas the other major Chinese portals only experienced single digit growth over the same period, according to iResearch. For the second half of 2012 we expect continued strong growth in viewership as we expect news reporting around important global events like the London Olympics and major elections taking place around the world. We believe that our leading global news coverage, coupled with our media offering across portal, mobile and video will continue to drive expansion in our audience base as well as advertising dollars from clients as we continue to solidify our market leadership."
Read more ...
IOC - InterOil reports Q2 (Jun) results, beats on revs (IOC) 87.04 : Reports Q2 (Jun) loss of $0.66 per share, may not be comparable to the Capital IQ Consensus Estimate of ($0.11); revenues fell 1.5% year/year to $299.1 mln vs the $280.6 mln consensus.
InterOil Announces 2012 Second Quarter Financial And Operating Results
PR NewswirePress Release: InterOil Corporation – 1 hour 8 minutes ago
PORT MORESBY, Papua New Guinea and HOUSTON, Aug. 13, 2012 /PRNewswire/ -- InterOil Corporation (IOC) (IOC) today announced financial and operating results for the second quarter ended June 30, 2012 and also certain recent developments.
Second Quarter 2012 Highlights and Recent Developments
Today, InterOil announced confirmation of gas and an increased condensate ratio in an additional 131 feet (40 metres) of pay in the lower of two reservoir intervals based on cased hole testing in the Triceratops-2 well. InterOil believes that these test results along with the confirmation of gas in the upper limestone firmly establish the Triceratops structure as a significant discovery for PNG, InterOil, and its partners. Having tested only a small portion of a structure, InterOil, is looking forward to working with its partner Pacific Rubiales in integrating the new well and potential field data with the aim of designing a seismic data acquisition and six well delineation plan at the Triceratops structure.
Net loss for the quarter ended June 30, 2012 was $31.7 million. The loss for the quarter includes a $23.8 million inventory write-down resulting from the decline in crude oil and related commodity prices during the period. Excluding the $23.8 million inventory write-down, operating segments of Corporate, Midstream Refining and Downstream collectively derived a net profit for the quarter of $7.5 million, while the investments in the development segments of Upstream and Midstream Liquefaction resulted in a net loss of $15.4 million.
InterOil's Rig#2 was released from the Triceratops-2 well on August 13, 2012, and is being mobilized to the Antelope-3 drilling location and Rig#3 is readying for deployment to the Elk-3 drilling location. With access roads from both the north and the south and a central upstream development camp in place, InterOil is set to begin drilling two obligation wells in PRL 15. The Company's Tuna and Wahoo/Mako prospects targeting seismically defined reefal indications in PPLs 236 and 238 have matured to the drill ready stage and preparations are underway to access proposed drilling locations.
InterOil's Chief Executive Officer Phil Mulacek commented, "We welcome the pleasure to work with both returning and new ministers of the 9th Parliament of Papua New Guinea to bring an LNG processing facility to Papua New Guinea of a nature and in a manner which will be satisfactory to the State and to the mutual benefit of all stakeholders."
In regards to the ongoing LNG partnering process, Mr. Mulacek stated "With the sound backing of the new administration in PNG, we are continuing to work with our advisors to finalize selection of an LNG equity partner. The end result of the partnering process is expected to fully satisfy all the terms of the 2009 LNG Project Agreement."
As to the Triceratops-2 well, Mr. Mulacek noted that, "We are very encouraged by the results of the Triceratops-2 well, the third discovery well. We believe that the Triceratops-2 well is a significant resource discovery. We look forward to continuing to work with the very capable management and technical team of Pacific Rubiales as we delineate Triceratops and further explore PPL 237. Our prospect inventory is maturing and we anticipate that it will support our goal of a multi-year, multi-well exploration program. We believe that these achievements, combined with our strong balance sheet, support our continued growth and operational success."
Corporate Financial Results
Net loss for the quarter ended June 30, 2012 was $31.7 million compared with a net profit of $23.5 million for the same period in 2011, a decrease of $55.2 million. The loss for the quarter includes a $23.8 million inventory write-down as at June 30, 2012 resulting from the decline in crude oil and related commodity prices during the period. Excluding the $23.8 million inventory write-down, operating segments of Corporate, Midstream Refining and Downstream collectively derived a net profit for the quarter of $7.5 million, while the investments in the development segments of Upstream and Midstream Liquefaction resulted in a net loss of $15.4 million.
The increase in net loss for the quarter of $55.2 from the same quarter of 2011 was mainly due to a $46.7 million decrease in gross margin on account of large falls in crude and product prices over the current quarter (approximately $30 per barrel), increase in premiums paid on purchases of preferred crude compared with prior period, and a $23.8 million write-down of refinery's inventories balance as of June 30, 2012; a $15.6 million decrease in foreign exchange gains due to the PGK being relatively stable in current quarter ended June 30, 2012. These decreases in net profit have been partly offset by a $20.9 million increase in future income tax benefits.
Earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter ended June 30, 2012 was a loss of $36.5 million versus a gain of $39.0 million for the same period in 2011.
Total revenues decreased by $4.7 million from $303.8 million in the quarter ended June 30, 2011 to $299.1 million in the second quarter of 2012, primarily due to the timing of certain export cargoes which sailed a few days after quarter end to facilitate required cargo size. The total volume of all products sold by us was 1.7 million barrels for quarter ended June 30, 2012, compared with 1.8 million barrels in the same quarter of 2011.
Read more ...
ARRY - Array BioPharma Reports Financial Results for the Fourth Quarter and Full Year of Fiscal 2012
Five Potential Phase 3 Decisions by the End of 2013
Business WirePress Release: Array BioPharma – 1 hour 16 minutes ago
BOULDER, Colo.--(BUSINESS WIRE)--
Array BioPharma Inc. (ARRY) today reported results for the fourth quarter and full year of fiscal 2012.
Array reported revenue of $20.7 million for the fourth quarter of fiscal 2012, compared to revenue of $19.0 million for the same period in fiscal 2011. The Company recorded expenses of $14.9 million on proprietary research and development for the quarter to advance its clinical development and discovery programs, compared to $19.3 million during the same period last year. Array reported a net loss of $8.0 million, or ($0.09) per share, for the fourth quarter, compared to a net loss of $21.8 million, or ($0.38) per share, for the same period last year. Array ended the fourth quarter of fiscal 2012 with $90 million in cash, cash equivalents and marketable securities.
Array reported revenue of $85.1 million for the fiscal year ended June 30, 2012, compared to revenue of $71.9 million for fiscal 2011. Net loss for the fiscal year ended June 30, 2012 was $23.6 million, or ($0.33) per share, compared to a net loss of $56.3 million, or ($1.02) per share, reported in fiscal 2011. Array spent $56.7 million in proprietary research and development for the year, compared to $63.5 million for fiscal 2011.
Array is evolving into a late-stage development company, with two wholly-owned programs, ARRY-614 and ARRY-520, and three partnered programs, selumetinib partnered with AstraZeneca, MEK162 partnered with Novartis, and danoprevir, partnered with InterMune / Roche, having potential Phase 3 decisions by the end of calendar year 2013.
Array currently has ten drug candidates in Phase 2 clinical development, seven of which are funded through partnerships with global pharmaceutical and biotechnology companies. Over the next year, the company expects results from the following five clinical trials:
Phase 1 dose escalation trial for the new formulation of ARRY-614 in patients with myelodysplastic syndromes
Phase 2 combination trial for ARRY-520 plus dexamethasone in patients with multiple myeloma who are refractory to Revlimid® (lenalidomide), Velcade® (bortezomib) and dexamethasone therapy
Phase 1b combination trial for ARRY-520 plus Velcade in patients with relapsed or refractory multiple myeloma
Phase 2a trial for ARRY-502 in patients with persistent asthma
Phase 2a trial for AMG151 trial in patients with Type 2 diabetes
Ron Squarer, Chief Executive Officer of Array, noted, “We made great progress from a financial standpoint in fiscal 2012. We recorded a double-digit increase in annual revenue while managing our spending and strengthening our cash position. Looking ahead, we are evolving into a late-stage development company, moving towards multiple pivotal trials by the end of calendar year 2013.”
Mr. Squarer added, “We are excited about the recently announced Phase 2 clinical trial results for ARRY-797 which showed statistically significant pain reduction on top of NSAIDS compared to placebo plus NSAIDs in osteoarthritis patients suffering from moderate to severe knee pain. Remarkably, for patients who completed the trial, the level of pain relief demonstrated by ARRY-797, a non-opioid drug, was comparable with oxycodone ER, a proven, powerful opioid with significant tolerability and safety issues. The drop-out rate for oxycodone ER was more than five times greater than for ARRY-797. In addition, we remain confident that AstraZeneca and Novartis will continue development of selumetinib and MEK162, respectively, based on the potential these products hold for patients as demonstrated in their Phase 2 trials shared at ASCO.”
Read more ...
WX. SHANGHAI, Aug. 13, 2012 /PRNewswire-Asia/ -- WuXi PharmaTech (Cayman) Inc. (WX), a leading research and development outsourcing company serving the pharmaceutical, biotechnology, and medical device industries, with operations in China and the United States, today announced its financial results for the second quarter of 2012.
Highlights
Net Revenues Increased 28.9% Year Over Year to $130.4 Million
Laboratory Services Net Revenues Grew 24.7% Year Over Year to $93.6 Million
China-Based Laboratory Services Net Revenues Increased 27.2% Year Over Year to $70.3 Million
U.S.-Based Laboratory Services Net Revenues Increased 17.7% Year Over Year to $23.3 Million
Manufacturing Services Net Revenues Grew 41.2% Year Over Year to $36.8 Million
Net Revenues from China Operations Exceeded $100 Million for the First Time on a Quarterly Basis
Share Repurchases Totaled $10.2 Million
GAAP Diluted Earnings Per ADS Grew 13.4% Year Over Year to $0.28
Non-GAAP Diluted Earnings Per ADS Increased 12.3% Year Over Year to $0.33
Company Increases Full-Year 2012 Revenue Guidance to $488-$498 Million
http://finance.yahoo.com/news/wuxi-pharmatech-announces-second-quarter-203000564.html
Big Boards - Top Losers Mon Aug 13 - Source: finviz.com
[ 10%+ losers ]
SOQ Sonde Resources Corp. 0.96 -40.00%
THTI THT Heat Transfer Technology, Inc. 0.97 -17.09%
IGLD Internet Gold Golden Lines Ltd. 2.01 -16.94%
SCLN SciClone Pharmaceuticals, Inc. 4.77 -16.32%
ARWR Arrowhead Research Corp. 2.79 -14.15%
BCOM B Communications Ltd 2.50 -14.09%
PLM Polymet Mining Corp. 1.03 -12.71%
IFON Infosonics Corp. 1.35 -12.34%
OTT Otelco Inc. 2.68 -12.13%
HPJ Highpower International, Inc. 1.07 -10.83%
TSEM Tower Semiconductor Ltd. 7.91 -10.82%
KWK Quicksilver Resources Inc. 4.09 -10.70%
VSTM Verastem, Inc. 8.02 -10.09%
VSCI Vision-Sciences Inc. 1.25 -10.07%
ESA Energy Services of America Corporation 1.71 -10.00%
http://stockcharts.com/c-sc/sc?s=SOQ&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=THTI&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=IGLD&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=SCLN&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=ARWR&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=BCOM&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=PLM&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=IFON&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=OTT&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=HPJ&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=TSEM&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=KWK&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=VSTM&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=VSCI&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=ESA&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
Big Boards - Top Gainers Mon Aug 13 - Source: finviz.com
Top 25 charts posted.
20%+ gainers
FSII FSI International Inc. 6.16 52.48%
ALXA Alexza Pharmaceuticals Inc. 4.11 38.85%
HIHO Highway Holdings Ltd. 2 33.33%
PPHM Peregrine Pharmaceuticals Inc. 2.86 24.89%
PVSW Pervasive Software Inc. 8.07 23.21%
ASTI Ascent Solar Technologies, Inc. 1.61 21.05%
PZZI Pizza Inn Holdings, Inc. 3.63 17.10%
XUE Xueda Education Group 2.93 14.90%
NLST Netlist Inc. 1.77 14.19%
JADE LJ International Inc. 1.83 13.66%
NTWK NetSol Technologies, Inc. 5.1 13.33%
ZIPR zipRealty Inc. 1.8 12.50%
MTG MGIC Investment Corp. 1.27 12.39%
RDI Reading International Inc. 5.69 12.23%
ISS Isoftstone Holdings Limited 5.52 11.74%
EMAN eMagin Corp. 3.92 11.05%
MEET MeetMe, Inc. 2.43 10.96%
MERU Meru Networks, Inc. 3.49 10.44%
KIOR KiOR, Inc. 7.98 10.22%
AMRS Amyris, Inc. 4.35 10.13%
RMCF Rocky Mountain Chocolate Factory Inc. 13.46 9.73%
TSO Tesoro Corporation 38.87 9.49%
EDS Exceed Company Ltd. 2.25 9.22%
FMCN Focus Media Holding Ltd. 25.45 8.85%
CPRX Catalyst Pharmaceutical Partners Inc. 1.52 8.57%
VC Visteon Corp. 42.01 8.27%
CLWR Clearwire Corporation 1.75 8.02%
SORL SORL Auto Parts, Inc. 2.07 7.81%
REED REEDS, Inc. 5.15 7.78%
NSPH Nanosphere, Inc. 3.18 7.66%
ACAD ACADIA Pharmaceuticals, Inc. 1.71 7.55%
UEC Uranium Energy Corp. 2.22 7.25%
KITD KIT digital, Inc. 3.11 7.24%
SGI Silicon Graphics International Corp. 9.19 7.11%
AZC Augusta Resource Corp. 2.64 6.88%
ONCY Oncolytics Biotech Inc. 3.03 6.69%
DVR Cal Dive International Inc 1.77 6.63%
CTRP Ctrip.com International Ltd. 14.42 6.42%
AMCN AirMedia Group Inc. 1.85 6.32%
PIP PharmAthene, Inc. 1.35 6.30%
ALJ Alon USA Energy, Inc. 12 6.19%
WZE Wizzard Software Corporation 5.06 6.08%
PRIS Grupo Prisa SA 1.75 6.06%
MNTG MTR Gaming Group, Inc. 3.88 6.01%
SUPN Supernus Pharmaceuticals, Inc. 13.23 6.01%
FRM Furmanite Corporation 5.33 5.96%
SNAK Inventure Foods, Inc. 6.23 5.95%
AHS AMN Healthcare Services Inc. 6.93 5.80%
SHLD Sears Holdings Corporation 54.36 5.72%
CCIH ChinaCache International Holdings Ltd. 5.42 5.65%
KS KapStone Paper and Packaging Corporation 19.13 5.52%
ATRS Antares Pharma Inc. 3.87 5.45%
MOBI Sky-mobi Limited 2.14 5.42%
MDW Midway Gold Corp. 1.17 5.41%
ZIXI Zix Corporation 2.58 5.31%
SRI Stoneridge Inc. 6.49 5.19%
HZNP Horizon Pharma, Inc. 4.91 5.14%
MNKD MannKind Corp. 2.26 5.12%
ATEC Alphatec Holdings, Inc. 1.65 5.10%
VVI Viad Corp 18.37 5.09%
http://stockcharts.com/c-sc/sc?s=FSII&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=ALXA&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=HIHO&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=PPHM&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=PVSW&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=ASTI&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=PZZI&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=XUE&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=NLST&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=JADE&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=NTWK&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=ZIPR&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=MTG&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=RDI&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=ISS&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=EMAN&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=MEET&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=MERU&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=KIOR&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=AMRS&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=RMCF&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=TSO&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=EDS&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=FMCN&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
http://stockcharts.com/c-sc/sc?s=CPRX&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464
Sweet! Shorted GRPN and now it's down -13% AH, that's money in the bank:
"A few analysts are saying GRPN could reach $20 again...good luck with that." - My earlier post.
I've learned that analyst who graduated from Harvard in Business Economics and what not are only right half the time lol.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78479097
Check your private message inbox in a few minutes regarding my take on LNET.
Thanks let know what u find
It'll probably go back up again. It's just that typical end of day shake. It looks like they could start picking up some steam in a few weeks for some nice gains (still researching).
ouch i added some here looks like shorty is not happy with me
Thanks for the heads up sonnyman, I'll look into LNET right now.
Let's take a look at SOQ:
I managed to grab a lot at .92-.93 earlier (the wonders of buy limit orders).
I currently have a sell limit at .98 for a profit a little under 10% for the daytrade (selling tomorrow).
A few analysts are saying GRPN could reach $20 again...good luck with that.
It did have a nice bounce today, it's possible.
Today's tankers:
CGR (-12.13%)
HUSA (-10.13%)
OTT (-12.46%)
PLM (-14.39%)
PWAV (-27.49%)
SCLN (-13.42%)
AAPL hit $628.46 earlier this a.m.
Lock-Up Expiration Could Signal Bottom for Facebook
Published: Friday, 10 Aug 2012
By: Lee Brodie
The Facebook [FB 21.807 0.797(+3.79%)] faithful have been all but confounded by the stock’s action over the past several months. Before the Facebook IPO some pros including Anthony Scaramucci of SkyBridge Capital thought shares would double in short order. But they didn’t.
In fact, questions about the company’s ability to generate profit thwarted bulls with the sell-off slashing shares by about 50% since late May.
And lately the price action has gotten even worse. Over the past several weeks, the stock has been stuck in the mud, with investors fearing an imminent lock-up expiration will drag shares even lower.
Facebook will free up nearly 1.7 billion shares – four times the number now trading – starting mid-August as provisions that had barred employees from selling their holdings begin to expire. However, the stock may be near a bottom.
"Watch how the stock reacts as the flood of shares come onto the market," says trader Josh Brown, author of The Reformed Broker blog. What happens next, he says, is a classic ‘tell.’
“If Facebook doesn’t get rocked below 20 – it may be an all clear sign. It may be ok to own into the 4th quarter,” he says on CNBC’s Fast Money Halftime Report.
Many pros, including OptionMonster Jon Najarian and famed pundit Henry Blodget have told us in the past that $20 was key. At that level, they say Facebook is more fairly valued.
"It’s been a long time since I’ve had anything positive to say about FB,” adds Brown “But there’s no question in my mind that FB will be a dominant Internet company for a long time to come. If you’ve been looking to get in, and the stock holds $20, this may be the opportunity.”
Note on AAPL: I only sold 1/3 of my position last week to pocket some of the profits. I'm still holding the majority of it because I still see $640 on the horizon with the iPhone 5 arriving soon.
No. only the iHub board is my work. Not much interest there.
Many of the analyst are showing positive sentiment for the stock. It will be interesting to see how they do next week.
Nice website Mike! Is it yours?
I bookmarked it :)
HWTR. The Canaccord Genuity 32nd Annual Growth Conference To Be Webcast
http://finance.yahoo.com/news/heartware-presentation-canaccord-genuity-32nd-130000894.html
The HeartWare® Ventricular Assist System features the HVAD® pump, a small full-output circulatory support device (up to 10L/min flow) designed to be implanted next to the heart, avoiding the abdominal surgery generally required to implant competing devices. HeartWare has received CE Marking for the HeartWare System in the European Union and TGA approval in Australia. The device is currently the subject of United States clinical trials for two indications: bridge-to-transplant and destination therapy.
WSJournal video. U.S.WeekAhead: Groupon, Cisco, Retail Sales. link.
http://live.wsj.com/video/us-week-ahead-groupon-cisco-retail-sales/DF47AE87-E350-4823-91E5-5E8C236D2275.html
Two very different tech investing stories will play out next week, as Groupon and Cisco Systems Inc. release quarterly results next week. Also Samsung releases a tablet and investors wade through key U.S. data releases, including August Philly Fed and July retail sales, as well as Wal-Mart earnings. MarketWatch's Laura Mandaro reports.
"Dogs of the Dow" update.
http://www.dogsofthedow.com/ddogytd.htm
iHub. http://investorshub.advfn.com/Dogs-of-the-Dow-21934/
RIMM. Receives Favorable Ruling - Analyst Blog
lack of proper evidence against Research In Motion has earned the company an overturning of last month’s verdict by the U.S. District Court
http://ih.advfn.com/p.php?pid=nmona&article=53790521
LKQ. 7/26/12 Q2 EPS of 43 cents, slightly above the consensus of 42 cents. RW Baird on June 28 downgraded LKQ to Neutral from Outperform due to valuation and deteriorating auto parts trends, but Stephens on May 31 initiated coverage on LKQ with an Overweight rating and a target of $44. LKQ Corp, with a market cap of $5 billion, is the largest nationwide provider of recycled OEM automotive replacement parts and related services, with sales and processing facilities and redistribution centers that reach most major markets in the United States.
http://ih.advfn.com/p.php?pid=nmona&article=53627073
BDSI. 10/Q 8/9/12
30,064,098 shares of company common stock issued and 30,048,607 shares of company common stock outstanding.
http://ih.advfn.com/p.php?pid=nmona&article=53774868
BioDelivery Sciences Provides Business Review and Update in Conjunction with Filing of its Second Quarter 2012 Financials
http://finance.yahoo.com/news/biodelivery-sciences-provides-business-review-203000612.html
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