DJIA 12,481.01; Up 19.87 (0.16%)
NASDAQ 2,456.18; Up 4.44 (0.18%)
S&P500 1,436.11; Up 1.57 (0.11%)
10YR-Bond 4.613%; Up 0.024
NYSE Volume 2,606,201,000
NASD Volume 1,615,797,000
CMGI (CMGI) traded over 51 million shares as small cap cult stock traders just can’t get enough of this one. +0.9% to $2.20.
Amgen (AMGN) and Genentech (DNA) hammered; AMGN stopped a drug trial and DNA hit over the coming quarter guidance. Imclone (IMCL) traded up big after the Amgen dropped trial as they compete. AMGN -4% to $58.02; DNA -3/2% to $82.56; IMCL +13% to $38.50.
Dendreon (DNDN) traded up big again on much stronger volume ahead of next week’s FDA review. +13% to $4.47; options active.
Omnivision (OVTI) traded up after TheStreet.com noted that Eastman Kodak (EK) may be interested in acquiring it. +10.6% to $13.35.
China YouTV (CYTV) gave back lots after more skeptics emerged. I received many notes and have seen many notes saying they were a scam. I was very cautious on this one yesterday because of the name, the OTC, the 300% gain, and the fact that it was started for basically $130,000 in China this March in a joint-venture. -33% to $1.49.
Palm (PALM) managed to close up on lackluster earnings numbers (slightly ahead) even though there was no merger as had been hoped. Go figure. +2% to $18.10.
Vonage (VG) fell sharply after the company had a permanent injunction ruling against it in the Verizon case. VG -25.9% to $3.00 on 9.8 million shares.
Kraft (KFT) rose on being added to the S&P 500 Index. +0.45% to $32.00 on 10.4 million shares.
Jabil (JBL) traded down on its earnings guidance under estimates. JBL -10.7% to $22.26.
Orient Express (OEH) traded up as it has been a takeover rumor this week. +3.4% to $60.60.
Hana Bio (HNAB) fell sharply on a resubmission to the FDA. -35% to $2.41.
Glu Mobile (GLUU) fell a day after its IPO, traders are skeptical as everything is licensed. -6% to $11.51.
Jon C. Ogg
March 23, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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