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Report Claims Dendreon Facing FDA Panel: BioBuzz
By Adam Feuerstein 03/02/10 - 09:10 AM EST
SEATTLE (TheStreet) -- Dendreon's(DNDN Quote) prostate cancer drug Provenge is likely to be brought in front of a U.S. Food and Drug Administration advisory panel, according to an independent and unconfirmed research report released Tuesday.
"We have been in contact with physicians who have been invited by the FDA to participate in an upcoming FDA Advisory Committee Panel Meeting to discuss Provenge," said Elliot Favus of Favus Institutional Research, in a note sent to institutional investor clients Tuesday morning.
The report sent Dendreon shares falling $2, or 6%, to $30.44 in Tuesday's premarket session, mainly because investors do not expect FDA to hold another advisory panel meeting on Provenge. The FDA is expected to issue an approval decision on Provenge on or before May 1.
The veracity of Favus' report cannot be verified. Neither Dendreon nor FDA has announced plans for a Provenge advisory panel meeting.
"I think he's wrong, but even if he is right the panel voted positively last time. The data are stronger this time so I would expect another positive vote and the FDA to approve the drug so that prostate cancer patients can finally have access to this lifesaving drug," said David Miller of Biotech Stock Research, an independent biotech investment newsletter and a long-time follower of Dendreon.
Miller added that Dendreon's management, only last week, said FDA had not been in contact with the company about scheduling an advisory panel for Provenge.
In his report, Favus writes, "We believe that the Street is not expecting an FDA Panel to discuss Provenge and that the announcement of an FDA Panel to discuss Provenge will put significant downward pressure on DNDN shares."
-- Reported by Adam Feuerstein in Boston.
Follow Adam Feuerstein on Twitter.
The problem with PDGE is that the shareholders will get nothing, most likely. He debtors will probably get paid pennies on the dollar. And the company liquidates. But, as long as the stock trades, there is hope.
Is there something out there on PDGE that we do not know? Can you imagine how this could pop if they had good news?
Can you imagine how risky this is?
LOL
Sell some and hold the House money risk for awhile longer. Way to go, bb
WOW--and PDGE shows accumulation?
Yes--my mistake
Will SHIP ever get out of the dock?
Got in at $5.39. Congrats on the low price.
Seeking Alpha on Brocade, sillystockboy
BRCD on Seeking Alpha
Brocade Communications: There Is Blood on the Streets
by: Ockham Research February 23, 2010 |
Maker of data center networking equipment Brocade Communications Systems (BRCD) is enduring a very strong sell off on Tuesday. Following their first quarter earnings report, BRCD is trading down more than 20% on huge volume in early morning trading. The reason for the trouncing was a miss on the top line results in addition to a worse than expected guidance for the rest of the year. Excluding one-time events earnings came in at $.19 per share or four cents better than expectations, and compared favorably to a loss of 6 cents per share last year. However, revenue growth of 25% to $539.5 million was a disappointment from expectations of $548.4 million.
The more distressing factor was Brocade management’s cautious outlook for full year earnings $.54 to $.58 per share, which is less than previous guidance. They also anticipate sales to total $2.15-$2.19 billion, which pales in comparison to the previous outlook of $2.25-$2.45 billion. The softness is due to a slower than expected recovery in their Ethernet switching business. The company lost market share in enterprise and service provider Ethernet switching, which has caused a number of analysts to downgrade the company today, adding to pressure on BRCD shares. On the whole though, the analyst community remains quite positive on BRCD, as the majority have a positive outlook on shares and the median price target is $9 per share. With the stock trading at $5 and change today, the analysts are seeing a 67% increase in price as a reasonable expectation.
Coming into the week, at Ockham we have placed a Fairly Valued rating on BRCD, but this stock may be due for an upgrade in the coming weeks. There is no doubt that the weak execution in the Ethernet business is troubling, but today’s sell-off makes the valuation quite a bit more compelling. Even with the tamped down expectation for full year earnings, the stock is trading for a multiple of less than 10x. Furthermore, sales at the midpoint of their guidance would suggest growth of 11% in the year, and further double digit growth is expected in fiscal 2011. It is rare to find a stock with that sort of growth potential trading for such a depressed multiple.
The old adage tells investors “the time to buy is when there is blood on the streets”, and today’s 23% decline and at least three analyst downgrades certainly qualifies for such a situation. We are contrarian investors at heart and see the market’s response to this report as a little overkill. Any better execution for Brocade in upcoming quarters will likely be met with significant price appreciation. Based on the historically normal ranges of price-to-sales and price-to-cash earnings, we believe Brocade could easily achieve a price of $10 based on the current fundamentals.
BRCD on Seeking Alpha
Brocade Communications: There Is Blood on the Streets
by: Ockham Research February 23, 2010 |
Maker of data center networking equipment Brocade Communications Systems (BRCD) is enduring a very strong sell off on Tuesday. Following their first quarter earnings report, BRCD is trading down more than 20% on huge volume in early morning trading. The reason for the trouncing was a miss on the top line results in addition to a worse than expected guidance for the rest of the year. Excluding one-time events earnings came in at $.19 per share or four cents better than expectations, and compared favorably to a loss of 6 cents per share last year. However, revenue growth of 25% to $539.5 million was a disappointment from expectations of $548.4 million.
The more distressing factor was Brocade management’s cautious outlook for full year earnings $.54 to $.58 per share, which is less than previous guidance. They also anticipate sales to total $2.15-$2.19 billion, which pales in comparison to the previous outlook of $2.25-$2.45 billion. The softness is due to a slower than expected recovery in their Ethernet switching business. The company lost market share in enterprise and service provider Ethernet switching, which has caused a number of analysts to downgrade the company today, adding to pressure onBRCD shares. On the whole though, the analyst community remains quite positive on BRCD, as the majority have a positive outlook on shares and the median price target is $9 per share. With the stock trading at $5 and change today, the analysts are seeing a 67% increase in price as a reasonable expectation.
Coming into the week, at Ockham we have placed a Fairly Valued rating on BRCD, but this stock may be due for an upgrade in the coming weeks. There is no doubt that the weak execution in the Ethernet business is troubling, but today’s sell-off makes the valuation quite a bit more compelling. Even with the tamped down expectation for full year earnings, the stock is trading for a multiple of less than 10x. Furthermore, sales at the midpoint of their guidance would suggest growth of 11% in the year, and further double digit growth is expected in fiscal 2011. It is rare to find a stock with that sort of growth potential trading for such a depressed multiple.
The old adage tells investors “the time to buy is when there is blood on the streets”, and today’s 23% decline and at least three analyst downgrades certainly qualifies for such a situation. We are contrarian investors at heart and see the market’s response to this report as a little overkill. Any better execution for Brocade in upcoming quarters will likely be met with significant price appreciation. Based on the historically normal ranges of price-to-sales and price-to-cash earnings, we believe Brocade could easily achieve a price of $10 based on the current fundamentals.
Motley Fool on Brocade (BRCD)
Brocade Ain't Broken!
By Anders Bylund
Who knew that data storage could be so thrilling? Brocade Communications Systems (Nasdaq: BRCD) is riding one heckuva roller coaster nowadays.
Of course, current shareholders might think it's more scary than thrilling. Brocade's stock dropped a precipitous 23% after the company reported its first-quarter results last night.
It wasn't a horrible quarter, looking at the raw numbers. Revenue jumped 25% year over year to $540 million and non-GAAP earnings increased by 27% to $0.19 per share. Negative operating cash flows turned positive, and the Ethernet networking division that became a major segment when Brocade bought Foundry Networks for $3 billion now pulls in 18% of Brocade's sales -- up from 12% a year ago.
But therein lies the rub: That Ethernet segment is supposed to grow even faster than what's happening today. Wedbush Morgan analyst Kaushik Roy noted a 26% sequential drop in Ethernet sales during a time when sector-specific competitors like Cisco Systems (Nasdaq: CSCO) and Juniper Networks (Nasdaq: JNPR) are going gangbusters.
CEO Mike Klayko was appropriately demure as he faced the analyst call, saying that "we made some planning assumptions that were wrong and that’s on us to fix and on us to own up to." Distribution partnerships with stellar allies like IBM (NYSE: IBM) and Dell (Nasdaq: DELL) are ramping up more slowly than expected. Brocade "needed and established customer intimacy by evangelizing our technologies, solutions and expertise to customers and channel decision makers" when the company entered the fiber channel storage business many years ago, and it’s now working to apply the same marketing concepts to this Ethernet strategy as well.
Brocade's stock is down 46% from the 52-week highs generated by talk that Oracle (Nasdaq: ORCL) or Hewlett-Packard (NYSE: HPQ) might buy the company. A buyout like that would have made a lot more sense than some other deals we've seen, but it never came to pass. This report just made Brocade a bit cheaper on top of that disappointment.
There are many reasons to love or hate Brocade right now, but I come down on the "love" side of the fence. It's a good sign when management faces its problems with open honesty, and I don't see why Brocade wouldn't be able to kick-start that Ethernet selling strategy and rejoin the industrywide surge. This looks like a buying opportunity to me -- but what do you think? Spill your guts in the comment box below!
Motley Fool on BRCD
Brocade Ain't Broken!
By Anders Bylund
February 23, 2010 | Comments (2)
Who knew that data storage could be so thrilling? Brocade Communications Systems (Nasdaq: BRCD) is riding one heckuva roller coaster nowadays.
Of course, current shareholders might think it's more scary than thrilling. Brocade's stock dropped a precipitous 23% after the company reported its first-quarter results last night.
It wasn't a horrible quarter, looking at the raw numbers. Revenue jumped 25% year over year to $540 million and non-GAAP earnings increased by 27% to $0.19 per share. Negative operating cash flows turned positive, and the Ethernet networking division that became a major segment when Brocade bought Foundry Networks for $3 billion now pulls in 18% of Brocade's sales -- up from 12% a year ago.
But therein lies the rub: That Ethernet segment is supposed to grow even faster than what's happening today. Wedbush Morgan analyst Kaushik Roy noted a 26% sequential drop in Ethernet sales during a time when sector-specific competitors like Cisco Systems (Nasdaq: CSCO) and Juniper Networks (Nasdaq: JNPR) are going gangbusters.
CEO Mike Klayko was appropriately demure as he faced the analyst call, saying that "we made some planning assumptions that were wrong and that’s on us to fix and on us to own up to." Distribution partnerships with stellar allies like IBM (NYSE: IBM) and Dell (Nasdaq: DELL) are ramping up more slowly than expected. Brocade "needed and established customer intimacy by evangelizing our technologies, solutions and expertise to customers and channel decision makers" when the company entered the fiber channel storage business many years ago, and it’s now working to apply the same marketing concepts to this Ethernet strategy as well.
Brocade's stock is down 46% from the 52-week highs generated by talk that Oracle (Nasdaq: ORCL) or Hewlett-Packard (NYSE: HPQ) might buy the company. A buyout like that would have made a lot more sense than some other deals we've seen, but it never came to pass. This report just made Brocade a bit cheaper on top of that disappointment.
There are many reasons to love or hate Brocade right now, but I come down on the "love" side of the fence. It's a good sign when management faces its problems with open honesty, and I don't see why Brocade wouldn't be able to kick-start that Ethernet selling strategy and rejoin the industrywide surge. This looks like a buying opportunity to me -- but what do you think? Spill your guts in the comment box below!
There will be a shift from investors to speculators today and tomorrow.
JUST, IWEB's CEO is presenting at a big Micro-Cap Conference today--at 2 PM.
It looks pretty promising now that IWEB finally decided to go the agency distribution channel route and hiring a successful veteran of the data storage wars who helped sell the last company he was with, Lefthand Networks, to Hewlett Packard for over $300 Million. Does not hurt that IWEB has announced deals with Exxon Mobil and Google Earth and other big names.
IWEB's market cap is $7 Million right now.
IWEB chart looks like it has bottomed out now. Waiting for some more volume before I go in a bigger way. I made some major jack ($$$$) when IWEB ran from .08 to .24 last Fall. Looks like it is setting up again.
Your thoughts, JUST?
Picking BRCD for a bounce, lucy
Watching BRCD for a bounce.
Good post from the Yahoo Board--
KNDI, what may have help cause yesterday's move
KNDI- Well it was just a matter of time before KNDI perked up. I guess my timing was pretty good with my comments yesterday morning. But, IMO, this is not the "storm" yet. Just the wind picking up a bit. But there were a couple of outside sources that may have contributed to the renewed excitement.
The article from China Knowledge can be big for KNDI. I have been hearing rumors for the last three or four months that one of the reasons that KNDI filed that Shelf Registration was to use the NASDAQ stock to possibly make an acquisition within China.
As one of the very few US listed China Auto Makers, KNDI should be in the "cat bird" seat in attracting excellent small companies with their NASDAQ stock. A China Auto Related Company (though not a car maker), CAAS also jumped more than 10% yesterday with it move credited to the above article.
With the Government rewarding companies with special treatment and tax credits to those who do it is just icing on the cake.
Another piece I just found that actually came out last Wednesday comes form a paid for subscription letter that is ranked #1 by Hulbert Financial Digest that ranks newsletters and that is Kevin Kennedy's Coolcat Report.
He said the following on KNDI:
Small cap speculations from Coolcat
Wednesday, February 17, 2010
by Kevin Kennedy, editor The Coolcat Report
Kevin Kennedy Coolcat ReportOur flagship newsletter, The Coolcat Explosive Small Cap Growth Stock Report is delivered by email and focuses on top-performing microcap and small cap stocks which have the characteristics found in past major stock market winners.
Below, we look at two stocks that meet our investment criteria -- stocks which we are adding to our speculative, small cap portfolios.
According to The Hulbert Financial Digest, Coolcat Report portfolios gained 383.2% from 1999-2010, or an average of 15.4% per year, to beat the econd-best newsletter over the past 11 years by more than 3% per year.
Kandi Technologies (NASDAQ: KNDI), which produces electric cars,
all-terrain vehicles, go-karts and other automotive products in China, broke out on good volume in October, but has fallen about 39% off its high of $6.75 established in January.
The stock has a float of less than 8 million shares and a market cap of about $82 million. The company has annual sales of almost $30 million and has crept into the black. I'll try for it on a slight pullback with a stop below the November lows.
http://www.thestockadvisors.com/Main-Section/small-cap-speculations-from-coolcat
.html
http://coolcatreport.com/