Today - Cyclacel Pharmaceuticals (CYCC) - Had it's Highest Volume Day, and Highest Close in a Month:

I haven't talked about my favorite microcap biotech company in a while, because there hasn't been a lot to talk about...There have been some interesting developments in the past month or so, that haven't increased the share price of the stock, even though I think one of them should have...

The first piece of interesting news has to do with a patent infringement case between Celgene (Nasdaq - CELG) and Cyclacel:

BERKELEY HEIGHTS, N.J., June 18, 2010 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (Nasdaq:CYCC - News) (Nasdaq:CYCCP - News), a biopharmaceutical company developing oral therapies that target the various phases of cell cycle control for the treatment of cancer and other serious disorders, today announced that it filed its Answer and Counterclaims to the declaratory judgment complaint filed by Celgene Corporation. Cyclacel has filed counterclaims charging Celgene with infringement of each of four Cyclacel-owned patents and seeks damages for Celgene's infringement as well as injunctive relief. The four patents directly involve the use and administration of Celgene's ISTODAX(R) (romidepsin for injection) product.

The declaratory judgment complaint seeks to have the four Cyclacel patents, which claim the use of romidepsin for injection in T-cell lymphomas, declared invalid and not infringed by Celgene's products.

The four Cyclacel patents which are the subject of this action do not involve Cyclacel's clinical development candidates or its commercial products.

(The bottom line here is Celgene is infringing on Cyclacel's patents!...not the other way around...If CELG loses this patent infringement case, they will owe CYCC a nice chunk of change...IMO)

http://finance.yahoo.com/news/Cyclacel-Answers-Celgenes-pz-2925157020.html?x=0&.v=1

On June 28, 2010 it was PR'd that:

CYCC had been added to the Russell Microcap Index:

(This means that a lot of Hedge Funds must buy shares of CYCC if they don't already own them...)

http://finance.yahoo.com/news/Cyclacel-Pharmaceuticals-pz-3695109373.html?x=0&.v=1

The most interesting development was the announcement on July 1st that:

Cyclacel Pharmaceuticals Announces FDA Orphan Drug Designation for their lead drug Sapacitabine in Both AML and MDS:

"Orphan drug designation for both AML and MDS significantly strengthens the value proposition represented by sapacitabine and enhances our opportunity to advance this promising product candidate to late stage clinical development and commercialization," said Spiro Rombotis, President and Chief Executive Officer of Cyclacel.

Orphan drug designation entitles Cyclacel Pharmaceuticals to seven years of marketing exclusivity for sapacitabine upon regulatory approval, as well as the opportunity to apply for grant funding from the U.S. government to defray costs of clinical trial expenses, tax credits for clinical research expenses and a potential waiver of the FDA's application user fee. Orphan status is granted by the FDA to promote the development of new drug therapies for the treatment of diseases that affect fewer than 200,000 individuals in the United States.

(There was a huge Volume spike that day, but not much upward movement of the share price that day or in the days that followed...Personally, I think this is HUGE news and the share price should've move north because of it, but the overall market was in dump mode during this period and the biotech sector as a whole was pretty badly beaten up...)

http://finance.yahoo.com/news/Cyclacel-Pharmaceuticals-pz-2152455345.html?x=0&.v=1

Yesterday, the company announced the date they'll release Q2 Earnings and host a Conference Call:

Cyclacel Pharmaceuticals to Announce Release of Second Quarter 2010 Financial Results:

CYCC will announce second quarter 2010 financial results on Thursday, August 5, 2010. The Company will host a conference call and live webcast at 4:30 pm Eastern time on the same day.

Conference call information:

U.S./Canada call: (877) 493-9121/ international call: (973) 582-2750

U.S./Canada archive: (800) 642-1687 / international archive: (706) 645-9291

Code for live and archived conference call is 91437070

For the live and archived webcast, please visit the Corporate Presentations page on the Cyclacel website at www.cyclacel.com The webcast will be archived for 90 days and the audio replay for 7 days.

(EarningsWhispers.com says their projected earnings for last quarter are ($0.17), which would beat the previous quarter's actual earnings of ($0.18) by a penny...Also notice in the Analysts Recommendation section CYCC is listed as a "Strong Buy":)

http://www.earningswhispers.com/stocks.asp?symbol=CYCC

And now for the charts:

As you can see, the candlestick hit the upper Bollinger Band (BB) on the daily chart for the first time in three months...Unfortunately, I never buy AT the upper BB even if the candlestick formed today is very tall, white, bullish, and closed only two cents below the high of the day...I'm not saying it can't go up any further, but this is where I usually take profits if I was actually trading in and out of this stock...Which I'm not...I own a nice block of shares bought at $1.45 on July 20th when the hourly (and daily) chart said it was time to get back IN:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=52462152

Now that I'm up nearly three grand, did I take profits today?....NO!...Why?...Because news about the SPA is nearly a month overdue from when the CEO said to expect it during last quarter's conference call...Why the delay?...Because SPA's are a back and forth dialog between the FDA and the company that creates a Phase III trial that uses the FDA's design protocols...While SPA's are not guarantees that the Phase III trial will be successful and lead up to FDA approval of the drug, it greatly increases the chances for success...I think the delay in announcing the SPA has been due to a continuing dialog between the FDA and the company that is in the process of altering and improving the Phase III trial design...So there has been another delay...So what?...If the trial is now on track to be safer and more effective, I don't mind another small delay...I truly believe that if the SPA had been denied, we would have heard about that by now...

The reason I won't sell my block of shares today is because news about the SPA could come anytime between now and the CC, and if you're not IN when this news is PR'd, you will miss out on a nice spike up, and you'll be chasing the price higher after the PR is released...Especially if the SPA is followed immediately by news of a partnership with a big pharma company to help fund and execute the Phase III trial...If that happens, I'm pretty sure we will see a very large spike up in a very short period of time...And when I see that spike, I'll probably lock in my profits as close to the top as I can, because there will be a long quiet period for news after these two things are announced...

More Technical Analysis:

Today's close gave us the highest Volume day, and the highest closing price since June 29th when they announced Orphan Status for their lead drug...Today's candle looks very Bullish, even if it is AT the upper BB...The 5MA has crossed up thru the 15MA very sharply, which hasn't happened for a long time...The CCI is getting a bit toppy by rising above the +100 line, but Stochastics isn't very Overbought yet with a reading of only 69 for the fast line, which is above the slow line and upticking very sharply...The MACD is looking Bullish with the Histogram upticking sharply today (blue bars), and the fast line did too and is above the slow line which is also upticking...



The chart below has a few more technical indicators on it: Starting with the dark green Chaikin Money Flow at the top, it's at a two month high...On Balance Volume (red line) and Accumulation/Distribution (black line) are upticking sharply, and also close to two month highs...We already covered the CCI, STO, and the MACD on the previous chart...The ADX shows the green DI+ is above the red DI- and they are diverging further apart...The green line at the bottom is the RSI - Relative Strength Index, and it's AT two month highs...

Add everything together, and these charts are screaming BULLishness!...

The only negative I can see is today's candle AT the upper BB, because it is almost always a level of Resistance...Only increasing Volume early next week will be able to start to bend the upper BB up, and allow the price to keep bumping up against it as it moves up...



The weekly chart clearly shows that CYCC is in the bottoming process...It's bouncing up off of the lower BB, this week's candlestick is a Bullish Hammer (and so was last week's, and the week before was an Inverted Hammer showing a Reversal)...It convincingly closed above the 5MA for the first time since early June...The weekly Volume doesn't look so great because each day this week preceding today had record setting low Volume, so the weekly averages out to roughly the same as the weeks before this one...The CCI has just given a Buy Signal by crossing up thru the -100 line...Stochastics is fighting it's way up out of totally Oversold territory, and the fast line has finally convincingly crossed up above the slow line, which is Bullish...The MACD Histogram (blue bars) had a nice uptick this week, and the MACD's fast line (black) looks to be finally leveling off...IF this stock continues to go up next week, the Resistance Levels ahead of it are the 15MA at $1.91 and the middle BB at $2.04 and if it can start closing above the middle BB there was some Resistance for four weeks at $2.20 from mid-May to early June...There is some more Resistance in the $2.50 -2.55 area in the beginning of May, and then it has NO more Resistance after that all the way up to the upper BB Resistance at $2.71 But if it is headed up to the upper BB on the weekly chart, by the time it takes it to get up there, the upper BB will have dropped some from what it reads now...

This weekly chart is beginning to show MUCH more Bull than Bear!...



I think we are overdue some GREAT news, and it could come as early as the pre-market session on Monday, which is a favorite time this company releases PR's...If not, we are SURE to hear something interesting later in the week, when they announce Q2 earnings numbers and hold a conference call to discuss important things going on with the company and the FDA and hopefully some real clarification about what's going on with the SPA...

Good Luck to All CYCC Investors!...

zigzagman

CYCC - Cyclacel Pharmaceuticals - Announces FDA Orphan Drug Designation for Sapacitabine in Both AML and MDS:

Press Release Source: Cyclacel Pharmaceuticals, Inc. On Thursday July 1, 2010, 7:00 am EDT

BERKELEY HEIGHTS, N.J., July 1, 2010 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (Nasdaq:CYCC), a biopharmaceutical company developing oral therapies that target the various phases of cell cycle control for the treatment of cancer and other serious disorders, today announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation to the company's sapacitabine (CYC682) product candidate for the treatment of both acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS).

"Orphan drug designation for both AML and MDS significantly strengthens the value proposition represented by sapacitabine and enhances our opportunity to advance this promising product candidate to late stage clinical development and commercialization," said Spiro Rombotis, President and Chief Executive Officer of Cyclacel.

Sapacitabine, a cell cycle modulating nucleoside analogue, is in Phase 2 studies for the treatment of AML in the elderly, MDS and lung cancer. Cyclacel has reported Phase 2 results from ongoing studies in AML and MDS. The company plans to advance sapacitabine into pivotal Phase 3 development in 2010. During the first quarter of 2010, the company submitted a Special Protocol Assessment (SPA) request to the FDA for a randomized Phase 3 study of sapacitabine in elderly patients with AML.

Orphan drug designation entitles Cyclacel Pharmaceuticals to seven years of marketing exclusivity for sapacitabine upon regulatory approval, as well as the opportunity to apply for grant funding from the U.S. government to defray costs of clinical trial expenses, tax credits for clinical research expenses and a potential waiver of the FDA's application user fee. Orphan status is granted by the FDA to promote the development of new drug therapies for the treatment of diseases that affect fewer than 200,000 individuals in the United States.

http://finance.yahoo.com/news/Cyclacel-Pharmaceuticals-pz-2152455345.html?x=0&.v=1

CYCC - Cyclacel Pharmaceuticals to Report New Sapacitabine Phase 2 Interim Results in MDS at the American Society of Clinical Oncology Annual Meeting:

http://finance.yahoo.com/news/Cyclacel-Pharmaceuticals-to-pz-4081723539.html?x=0&.v=1

BERKELEY HEIGHTS, N.J., May 21, 2010 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (Nasdaq:CYCC - News) (Nasdaq:CYCCP - News) announced that new interim data from an ongoing, multicenter, Phase 2 clinical trial of oral sapacitabine, the Company's lead product candidate, will be presented at an oral poster discussion during the 2010 American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago, Illinois on Monday, June 7, 2010.

The Phase 2 study is evaluating sapacitabine administered as a single agent in older patients with myelodysplastic syndromes, or MDS, after treatment with hypomethylating agents.

Oral poster discussion details are as follows:

"A randomized phase 2 study of sapacitabine in MDS refractory to hypomethylating agents"
Date/Time: Monday, June 7, 2010, 2:00 P.M. - 6:00 P.M. Eastern Time
Abstract Number: 6528
Location: E450a

Discussion time: 5:00 P.M. - 6:00 P.M. Eastern Time
Location: E354a

Sapacitabine Phase 2 study in MDS:

The MDS study is designed as a protocol amendment expanding the fully enrolled Phase 2 trial of sapacitabine in acute myeloid leukemia, or AML, to include a stratum of patients with MDS refractory to hypomethylating agents. Patients with MDS often progress to AML. The primary objective of the MDS stratum is to evaluate the 1-year survival rate of three dosing schedules of sapacitabine. Secondary objectives are to assess the number of patients who have achieved CR or CRp, PR, hematological improvement and their corresponding durations, transfusion requirements, number of hospitalization days and safety. The MDS study uses a selection design with the objective of identifying a dosing schedule which produces a better 1-year survival rate in the event that all three dosing schedules are active.

The abstract is available online at:

http://abstract.asco.org/AbstView_74_54011.html

VIDEO - POZN Gets FDA Approval For Pain Drug Vimovo:

Friday was a great day for Pozen Inc.

The FDA gave full approval to their drug Vimovo. It can now be sold all across America...

$POZN Gets FDA Approval for Pozen Inc.'s Pain Drug - Vimovo !...

POZN - US FDA OK's AstraZeneca, Pozen Inc.'s Pain Drug:

Fri Apr 30, 2010 5:19pm EDT

* Agency clears drug for U.S. market

* Vimovo includes naproxen and Nexium ingredient

* Pozen shares up more than 21 percent after-hours

WASHINGTON, April 30 (Reuters) - The U.S. Food and Drug Administration has approved AstraZeneca Plc (AZN.L) and Pozen Inc's (POZN.O) pain drug Vimovo, an agency spokeswoman told Reuters on Friday.

Vimovo is a fixed-dose combination of the anti-inflammatory drug naproxen and an immediate release version of esomeprazole, the active ingredient in AstraZeneca's acid reflux treatment Nexium.

Shares of Pozen were up more than 21 percent, or about $2.30, in after-hours trading on Friday, trading at $13.15, after earlier closing at $10.85. (Reporting by Susan Heavey; additional reporting by Ben Hirschler in London and Vidya Loganathan in Bangalore; editing by Carol Bishopric)

http://www.reuters.com/article/idCNN3015546220100430?rpc=44

POZN is currently halted...Per the Nasdaq.com website:

http://www.nasdaqtrader.com/Trader.aspx?id=TradeHalts

No time is given for resumption of trading...

There was a huge Bear Raid at 12:37 this afternoon, as the MM's took out all of the stop-loss limit orders people had in place:



POZN After-Hours Chart shows it closed at $13.15 when it was halted for "news pending":

$DNDN - Dendreon Gets FDA Approval For Provenge To Treat Prostate Cancer!:

FDA Approves a Cellular Immunotherapy for Men with Advanced Prostate Cancer:

The U.S. Food and Drug Administration today approved Provenge (sipuleucel-T), a new therapy for certain men with advanced prostate cancer that uses their own immune system to fight the disease.

Provenge is indicated for the treatment of asymptomatic or minimally symptomatic prostate cancer that has spread to other parts of the body and is resistant to standard hormone treatment.

Prostate cancer is the second most common type of cancer among men in the United States, behind skin cancer, and usually occurs in older men. In 2009, an estimated 192,000 new cases of prostate cancer were diagnosed and about 27,000 men died from the disease, according to the National Cancer Institute.

“The availability of Provenge provides a new treatment option for men with advanced prostate cancer, who currently have limited effective therapies available,” said Karen Midthun, M.D., acting director of the FDA’s Center for Biologics Evaluation and Research.

Provenge is an autologous cellular immunotherapy, designed to stimulate a patient’s own immune system to respond against the cancer. Each dose of Provenge is manufactured by obtaining a patient’s immune cells from the blood, using a machine in a process known as leukapheresis. To enhance their response against the cancer, the immune cells are then exposed to a protein that is found in most prostate cancers, linked to an immune stimulating substance. After this process, the patient’s own cells are returned to the patient to treat the prostate cancer. Provenge is administered intravenously in a three-dose schedule given at about two-week intervals.

The effectiveness of Provenge was studied in 512 patients with metastatic hormone treatment refractory prostate cancer in a randomized, double-blind, placebo-controlled, multicenter trial, which showed an increase in overall survival of 4.1 months. The median survival for patients receiving Provenge treatments was 25.8 months, as compared to 21.7 months for those who did not receive the treatment.

Almost all of the patients who received Provenge had some type of adverse reaction. Common adverse reactions reported included chills, fatigue, fever, back pain, nausea, joint ache and headache. The majority of adverse reactions were mild or moderate in severity. Serious adverse reactions, reported in approximately one quarter of the patients receiving Provenge, included some acute infusion reactions and stroke. Cerebrovascular events, including hemorrhagic and ischemic strokes, were observed in 3.5 percent of patients in the Provenge group compared with 2.6 percent of patients in the control group.

Provenge is manufactured by Seattle-based Dendreon Corp.

http://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/ucm210174.htm

DNDN was halted at 12:34 pm ET, and remains halted at 2:10 pm...Just before the halt, it jumped up almost 15% and up over $7.00 in three minutes from $40. to $47.

$PWRM - The International Congress of Alzheimer's Disease Accepts Four Scientific Presentations by Power3:

Power3 Presents NuroPro® to ICAD for the 2nd Year in a Row:

http://finance.yahoo.com/news/The-International-Congress-of-bw-3938801446.html?x=0&.v=1

Press Release Source: Power3 Medical Products, Inc. On Wednesday April 28, 2010, 1:06 pm EDT



HOUSTON--(BUSINESS WIRE)--Power3 Medical Products, Inc. (OTCBB: PWRM – News) announced that four abstracts were accepted for presentation to the annual meeting of the International Congress of Alzheimer’s Disease on July 12, 2010 in Honolulu, Hawaii. The presentations will cover results from protein biomarker discovery, drug response, test development, and ongoing clinical validation trials of the NuroPro® AD biomarkers and blood test for Alzheimer’s disease. The four studies to be presented involve a total of 154 Alzheimer’s disease patients and 91 Parkinson’s disease patients, as well as 210 age-matched normal control individuals and 173 disease control individuals.

The NuroPro® AD biomarkers and blood test are intended to help clinicians distinguish patients with Alzheimer’s disease from “normal” individuals, i.e., patients with similar, non-Alzheimer’s neurological disorders. They are also intended to solve the critical challenge facing physicians, clinicians, patients and drug developers, who all need tests for early stage accurate and specific diagnosis of this debilitating disease, as well as more guidance for drug therapy, patient selection for drug clinical trials, and better tools to monitor drug treatment response.

The abstracts report the use of combined results from ongoing clinical validation trials of NuroPro® AD. The trials are being conducted by the Power3 scientific team, led by scientific advisory board member Lourdes R. Bosquez, MD and Chief Scientific Officer, Ira L. Goldknopf, Ph.D. in collaboration with Marwan Sabbagh, MD, director of the Banner Sun Health Research Institute. The team is also utilizing previous studies Power3 conducted with Stanley H. Appel, MD during his tenure as Chairman of Neurology at the Baylor College of Medicine and, currently, as Co-Director of the Methodist Neurological Research Institute. Dr. Appel continues to be chairman of the scientific advisory board of Power3.

“These 4 posters represent the culmination of 7 years of hard scientific effort which we have been blessed to pursue with our distinguished collaborators,” said Dr. Goldknopf. “There will be some surprises for our colleagues at ICAD that we are particularly excited about because they have the potential to guide us towards improvements in treatment for this awful illness.” Dr. Goldknopf will present two of the posters at ICAD, one on NuroPro® AD biomarkers for Alzheimer’s specific diagnosis and the other on NuroPro® AD diagnostic clinical validation trials. Dr. Sabbagh will present a third poster on prospective clinical validation of the use of protein biomarkers from newly drawn patient sera for diagnosis of Alzheimer’s disease, and Dr. Bosquez will present a fourth poster on NuroPro® AD protein biomarkers and drug response.

“We are proud that Dr. Goldknopf will be joined this year by two members of our scientific advisory board, Dr. Sabbagh and Dr. Bosquez, in presenting to ICAD 2010,” said Helen R. Park, MS, Chief Executive Officer of Power3. “For us to present four posters at the same time at such a prestigious forum speaks to the depth of our science and our commitment to improving the outcomes for patients with Alzheimer’s disease. This work, in conjunction with the recent filing of our joint patent application with StemTroniX, bodes well for the upcoming acquisition of StemTroniX by Power3.”

Power3 Medical Products:

Power3 Medical Products, Inc. is a leader in bio-medical research and the commercialization of biomarkers, tests, and mechanisms of disease. Power3's patent-pending technologies are being used to develop screening and diagnostic tests for the early detection and prognosis of disease, and to identify protein biomarkers and drug targets, to fulfill critical unmet needs in areas including neurodegenerative disease (NuroPro®) and breast cancer (BC-SeraPro™). Power3 operates a state-of-the-art CLIA certified laboratory in The Woodlands (Houston), Texas and continues to evolve and enhance its IP portfolio, employing sensitive and specific combinations of biomarkers blood-based tests for ALS, Alzheimer's, and Parkinson's diseases, breast cancer, and drug resistance.

For more information, please visit: http://www.power3medical.com

StemTroniX:

StemTroniX, Inc. is a stem cell biotechnology holding and acquisition company that is committed to improving the lives of individuals by using autologous adult stem cell technology to repair tissue damage in patients. Autologous adult stem cell therapy is the process of using an individual's own stem cells for the purpose of repairing and regenerating damaged tissue. StemTroniX also provides a patented system to augment this process in a non-invasive method for in-body monitoring of the stem cells at the site of injury as they are being introduced into the patients.

For more information, please visit: http://www.stemtronix.com

US HOT STOCKS: Hertz, Thomas Weisel, Whirlpool, Goldman, Citi:

U.S. stocks were mixed Monday, as the Dow Jones Industrial Average rose 24 points to 11228, but the Standard & Poor's 500 index fell 1.3 points to 1216 and the Nasdaq Composite Index declined 2.1 points to 2528. Among the companies whose shares are actively trading in the session are Hertz Global Holdings Inc. (HTZ), Thomas Weisel Partners Group Inc. (TWPG) and Whirlpool Corp. (WHR).

Car-rental company Hertz ($15.13, +$2.25, +17.43%) plans to acquire rival Dollar Thrifty Automotive Group Inc. (DTG, $42.32, +$3.47, +8.93%) for $1.27 billion in cash and stock, giving Hertz a larger foothold in the leisure-rental market when its core business-travel operation remains in the doldrums. Avis Budget Group Inc. (CAR, $16.62, +$1.95, +13.29%) also traded higher.

Stifel Financial Corp. (SF, $53.28, -$2.46, -4.41%) and Thomas Weisel ($7.18, +$2.82, +64.68%) agreed to merge. Each Thomas Weisel share will be exchanged for 0.1364 shares of Stifel stock in a deal valued at over $300 million.

Whirlpool's ($117.64, +$15.42, +15.09%) first-quarter earnings more than doubled, smashing analysts' estimates, as revenue surged and margins increased amid an improving global economy. The appliance maker also raised its 2010 earnings outlook.

Financial stocks slid Monday as proposed regulation from Senate Democrats about sweeping new rules for the derivatives market would likely hurt revenue at most big banks, though many investors think there is little chance of the measure passing in such a stringent form. Goldman Sachs Group Inc. (GS, $152.52, -$4.88, -3.10%), Morgan Stanley (MS, $31.14, -$0.80, -2.50%), J.P. Morgan Chase & Co. (JPM, $43.99, -$0.95, -2.11%) and Bank of America Corp. (BAC, $18.29, -$0.14, -0.76%) all fell.

The Treasury Department said Monday it would sell up to 1.5 billion Citigroup Inc. (C, $4.69, -$0.18, -3.60%) shares, the first round of a plan to divest its entire 7.7 billion share stake in the bank holding company.

Caterpillar Inc. (CAT, $72.21, +$3.43, +4.99%) swung to a sharply higher-than-expected profit in the first quarter following prior-year restructuring charges, though sales fell and taxes rose. The heavy machinery maker also raised its 2010 forecast. Other machinery stocks also rose, with Deere & Co. (DE, $62.95, +$1.16, +1.88%), Terex Corp. (TEX, $28.44, +$0.70, +2.53%), Joy Global Inc. (JOYG, $63.88, +$2.43, +3.95%), Manitowoc Co. (MTW, $16.28, +$0.65, +4.16%) and Bucyrus International Inc. (BUCY, $70.94, +$2.57, +3.76%) all gaining.

Switch & Data Facilities Co. (SDXC, $19.61, +$1.91, +10.79%) said federal regulators raised no antitrust concerns about Equinix Inc.'s (EQIX, $102.12, +$6.38, +6.66%) purchase of the company. The two data-center providers expect the deal to close next Friday.

Digirad Corp. (DRAD, $2.62, +$0.56, +27.18%), which makes medical-imaging products, said it got clearance from the U.S. Food and Drug Administration to market and distribute its ergo large field-of-view, general-purpose portable imaging system.

Mortgage insurer PMI Group Inc.'s (PMI, $6.27, -$0.36, -5.43%) first-quarter loss widened and was worse than analysts expected. In addition, its main mortgage insurance unit may have fallen below a minimum capital threshold. As a result, the unit may be required to stop selling new business in some states, the company said in a regulatory filing Monday.

[b]Other Stocks In Focus:[/b]

Biotechnology company AspenBio Pharma Inc. (APPY, $4.27, +$0.53, +14.17%) shares hit their highest level since January 2009 amid chatter that a partnership or takeover is in the works. AspenBio has been gaining lately as data from a pivotal trial on its blood-based diagnostic test for appendicitis is expected this quarter. ThinkEquity didn't dismiss the chatter, but said a partnership/takeover is more likely after the company gets further down the regulatory pathway. Based on its recent naming of a CEO with sales and marketing experience, it looks like APPY wants to be the one to commercialize the test, ThinkEquity said.

While medical-products company Baxter International Inc.'s (BAX, $47.81, -$1.51, -3.07%) shares have fallen 16% since its 2010 guidance cut last Thursday, JPMorgan thinks they'll be "range-bound" around this level because of lasting uncertainty about the plasma market. The firm lowered Baxter's rating to neutral from overweight. JPMorgan said management lowered the bar enough for 2010, but that isn't the concern. "The underlying issue is the lack of visibility on 2011, an absence of catalysts, and the likelihood that we won't have visibility until December at the earliest or more likely 1Q next year," it said.

BioSante Pharmaceuticals Inc. (BPAX, $2.19, +$0.05, +2.34%) said it entered into a deal which carries an option for "a major pharmaceutical company" to get a non-exclusive license to use BioSante's antibody technology.

BlackRock Inc.'s (BLK, $193.50, -$17.52, -8.30%) first-quarter earnings quintupled as the money-management firm continues its integration of Barclays Global Investors, which it bought late last year. However, the results missed analysts' estimates as the company has run into some trouble with the deal.

Jefferies International lowered British Sky Broadcasting (BSY, $38.07, -$0.92, -2.36%) to hold from buy ahead of the company's fiscal third quarter results, due Thursday, saying it expects "uninspiring" results with net adds below last year. At 18 times calenderized 2010 per-share earnings, the stock is up with events and fully valued, the firm said, adding it thinks the stock is likely to be influenced by the court decision expected imminently relating to a stay of execution on channel wholesale regulation. News Corp. (NWS, $18.64, +$0.14, +0.76%) which owns Dow Jones & Co., publisher of this newswire, has a roughly 39% stake in BSkyB.

Pharmaceutical-research Charles River Laboratories International Inc. (CRL, $34.30, -$5.47, -13.75%) and Chinese drug-research contractor WuXi PharmaTech (Cayman) (WX, $19.44, +$2.87, +17.32%) will merge in a $1.6 billion deal. Charles River also announced first-quarter earnings that slightly missed expectations, while revenue came in ahead of views.

CKE Restaurants Inc. (CKR, $12.37, -$0.48, -3.74%) said Saturday it has agreed to be sold to Apollo Management Group for $694 million, or $12.55 a share, after private-equity firm Thomas H. Lee Partners declined to match Apollo's higher offer for the operator of the Carl's Jr. and Hardee's fast-food chains. CKE shareholders will get $12.55 a share, but shares slipped Monday as it appeared there would be no bidding war.

Dendreon Corp. (DNDN, $41.99, +$1.89, +4.71%) gained after Brean Murray Carret raised its target price on the stock to $50 from $40. Analyst Jonathan Aschoff said the boost emphasizes his confidence Dendreon will get U.S. Food and Drug Administration approval for Provenge, the drug company's prostate cancer candidate. Some of Brean Murray's peers are backing out of the stock at what Aschoff believes is "exactly the wrong time," he wrote.

Eagle Materials Inc.'s (EXP, $34.18, +$1.73, +5.33%) fiscal fourth-quarter profit declined 73% as sales fell and extended plant shutdowns increased operating costs. But results at the maker of concrete, cement and gypsum wallboard for buildings and infrastructure beat analysts' estimates.

BMO Capital Markets adjusted its ratings on several real-estate investment trusts ahead of first-quarter earnings reports. The firm said it believes "management teams are on the verge of becoming collectively more optimistic about the future, and we think this improvement in operating expectations could happen as soon as this coming earnings season." The firm boosted its ratings on Equity Residential (EQR, $45.26, +$0.66, +1.48%) and Mid-America Apartment Communities Inc. (MAA, $54.78, +$0.95, +1.76%) to outperform from market perform and Essex Property Trust Inc. (ESS, $105.98, +$1.99, +1.91%) to market perform from underperform, but it cut its ratings on Apartment Investment & Management Co. (AIV, $22.19, +$0.08, +0.36%) and Colonial Properties Trust (CL, $83.76, +$0.49, +0.59%) to underperform from market perform.

Oppenheimer downgraded regional bank First Midwest Bancorp (FMBI, $16.36, -$1.55, -8.63%) to perform from outperform, saying the stock was strong last week on much better-than-expected results. First Midwest also had an FDIC-assisted transaction last week in which it acquired the assets of a failed bank, and the firm said it is concerned investors might be disappointed with that news, as two other banks had multiple, larger deals.

Guess? Inc. (GES, $50.63, +$1.01, +2.04%) shares have more than doubled in the past year, but they may well rise another 25%, Barron's said. Sales could grow in the double digits this year, and profit margins are strikingly high. The apparel retailer is finding a new edge, updating its trademark jeans and peddling in-the-moment items like jeggings (jeans/leggings) for young women and embroidered, distressed t-shirts for men.

Credit Suisse turned indecisive, downgrading ITT Educational Services Inc. (ESI, $109.51, -$2.28, -2.04%) and DeVry Inc. (DV, $64.69, -$4.77, -6.87%) just two weeks after upgrading them as it says government draft policy on "gainful employment" regulation may not be so generous after all. Other for-profit education companies trading lower included Apollo Group Inc. (APOL, $62.59, -$0.94, -1.48%) and Corinthian Colleges Inc. (COCO, $17.27, -$0.62, -3.47%).

Lorillard Inc.'s (LO, $80.50, +$0.93, +1.17%) first-quarter profit jumped 26% as shipments at the tobacco company increased following prior-year disruptions.

Caris & Co. boosted its price target on Netflix Inc. (NFLX, $107.08, +$7.35, +7.37%) by 25% to $120, saying that the online video-rental company continues to post strong growth and has surpassed its price target for the fourth time this year. The firm said consensus expectations are moving up, but fiscal 2011 numbers still look too low.

Bernstein cut its rating on Nokia Corp. (NOK, $12.44, -$0.32, -2.51%) to market perform from outperform, saying the fate of the world's largest maker of mobile phones is now too dependent on the success of Symbian 3, the delayed revamp of its "smartphone" operating system. The broker also told clients that the first-quarter results showed that the improvement in gross margins witnessed since the second quarter of 2009 has been halted and said Nokia's guidance cut for the second quarter of 2010 shows that "this isn't a temporary weakness but a trend that will stop only with the next product portfolio refresh."

Shares of Office Depot Inc. (ODP, $9.01, +$0.56, +6.63%) traded sharply higher Monday after Credit Suisse upgraded its stock-investment rating on the office supplier, with the positive sentiment also boosting shares of OfficeMax Inc. (OMX, $17.48, +$0.85, +5.11%). Credit Suisse said in a note Monday that channel checks point to a modest but slow improvement in the first quarter at Office Depot. "This sector has not yet seen the pickup other retail sectors have shown," the firm said as it raised its rating on Office Depot to neutral from underperform.

Quaker Chemical Corp. (KWR, $35.53, +$2.26, +6.79%) continued on its bullish April, rising to a new all-time high after gaining by a third this month. Shares have nearly doubled over the past three months and the specialty chemicals maker will report its first-quarter results after the close Tuesday.

Global Hunter Securities cut its stock-investment rating on Perry Ellis International Inc. (PERY, $25.31, -$1.44, -5.38%) to neutral from buy based on valuation. The firm said that while it expects to see strong execution from operations due to gross margin expansion and cost controls, the apparel company's shares have exceeded its price target.

PrivateBancorp Inc. (PVTB, $15.04, -$2.03, -11.89%) swung to a first-quarter loss that was wider than analysts' estimates as provisions for loan losses quadrupled.

Private equity firm GTCR LLC said Monday it is acquiring security systems firm Protection One Inc. (PONE, $15.40, +$1.64, +11.92%) from a group including Quadrangle Group LLC and Monarch Capital Partners.

SPX Corp. (SPW, $69.97, +$3.07, +4.59%) was boosted to buy from neutral by Bank of America Merrill Lynch analysts who said the diversified industrial company should see improvements to its businesses, particularly its flow and test measurement segments, while the industrial and thermal markets remain muted.

Thoratec Corp. (THOR, $35.07, +$0.72, +2.10%) agreed to sell its International Technidyne division, which makes a wide range of equipment for hemostasis management and point-of-care testing, to manufacturing company Danaher Corp. (DHR, $84.80, -$0.61, -0.71%) for at least $110 million.

Titan International Inc.'s (TWI, $12.05, +$0.58, +5.06%) first-quarter profit fell by 70% but at 6 cents a share was still twice the Street's consensus as revenue also slightly topped views as well. The maker of wheels and tires used for off-highway machinery, such as tractors, which said agriculture demand should remain strong in the second quarter. It also said mining looks bright and added it was increasing prices.

Travelzoo Inc. (TZOO, $19.00, +$2.50, +15.17%) reported first-quarter results better than the one analyst covering the stock expected. The company, which is paid by travel companies to advertise their offers, said the number of subscribers to its newsletter in North America and Europe jumped 25% from the previous year.

Keefe, Bruyette & Woods cut bank holding company Trustmark Corp. (TRMK, $26.06, -$0.77, -2.87%) to market perform from outperform on valuation, saying the shares have been strong since its exit from TARP in December, and there's limited upside left to its 12-month target price. "We continue to like TRMK's strong core profitability," the firm said.

Tuesday Morning Corp. (TUES, $7.56, -$1.03, -11.99%) shares fell after the home decoration close-out retailer posted third-quarter earnings just shy of expectations. The shortfall comes two weeks after the company raised its full-year earnings guidance to reflect a bump-up in sales on improved traffic.

-By Dow Jones Newswires; write to hotstocks@dowjones.com

http://online.wsj.com/article/BT-CO-20100426-711600.html?mod=WSJ_Banking_middleHeadlines

VLNC - Valence Technology Brings Intelligent Batteries to "Smart Grid Community of the Future":

http://finance.yahoo.com/news/Valence-Technology-Brings-bw-2494091485.html?x=0&.v=1

$13.5 Million DOE Grant to Help Fund a $27.4 Million Regional Demonstration Project: “Technology Solutions for Wind Integration in the Electric Reliability Council of Texas”

Press Release Source: Valence Technology, Inc.
Thursday April 8, 2010, 9:03 am EDT

AUSTIN, Texas--(BUSINESS WIRE)--Valence Technology (NASDAQ: VLNC) today announced it has been selected as the preferred residential/community battery technology provider for the “Smart Grid Community of the Future,” the first smart grid solar powered residential development in Texas, the Houston-area master planned community of Discovery at Spring Trails. Utilizing its lithium phosphate battery design, including intelligent Command & Control logic, Valence Technology will supply dynamic energy systems for the individual smart grid residences containing electric vehicle charging stations and smart appliances. Valence Technology’s energy solutions will be used to support a smart-energy practice known as “peak shaving,” whereby smart appliances like dishwashers and washing machines are efficiently utilized during peak demand hours.

This smart grid project will demonstrate how community battery systems can enhance grid stability and decrease overall electricity costs by practicing “peak shaving.” Homeowners can avoid higher peak power costs during evening hours when multiple appliances are typically running after Valence Technology dynamic energy systems kick-in to power the smart appliances.

“Valence Technology is proud to be involved with a project as pioneering as the Discovery at Spring Trails smart grid community,” said Robert L. Kanode, president and CEO, Valence Technology. “By significantly reducing homeowners' energy costs through peak shaving, community storage applications will gain acceptance in the marketplace. Valence Technology is well-positioned to provide proven, field-tested dynamic energy systems that will enable greener, smarter and more efficient energy use.”

As part of the regional demonstration project entitled “Technology Solutions for Wind Integration in the Electric Reliability Council of Texas (ERCOT),” the “Smart Grid Community of the Future” will serve as a test model for the development of future distributed energy-generation communities utilizing clean technologies. The project includes improved technologies to monitor the ERCOT electric grid and expanded smart portal capability to support demand response in the new development, Discovery at Spring Trails. With $13.5 million in funding from the U.S. Department of Energy, the $27.4 million project is scheduled to break ground this year.

The team for this “Smart Grid” project includes CCET, Valence Technology, Southwest Research Institute, Electric Power Group, EcoEdge, CenterPoint Energy, Oncor, American Electric Power, Sharyland Utilities, Land Tejas Developers, Montgomery County Municipal Utility District 119, Xtreme Power/Energy Xtreme, General Electric, GridPoint, Direct Energy, Drummond Group and Frontier Associates.

Valence Technology stationary energy storage systems are designed for use in frequency regulation, community energy storage, telecommunications back-up power, auxiliary power units and uninterruptible power supply projects around the globe.

About Valence Technology, Inc.

Valence Technology is an international leader in the development of safe, long-life lithium iron magnesium phosphate energy storage solutions and provides the enabling technology behind some of the world’s most innovative and environmentally friendly applications. Founded in 1989, Valence today offers a proven technology and manufacturing infrastructure that delivers ISO-certified products and processes that are protected by an extensive global patent portfolio. Headquartered in Austin, Texas, Valence Technology is strategically aligned by five business segments: Motive, Marine, Stationary, Industrial and Military. In addition to the corporate headquarters in Texas, Valence Technology has its Research & Development Center in Nevada, its Europe/Asia Pacific Sales office in Northern Ireland and global fulfillment centers in North America and Europe. Valence Technology is traded on the NASDAQ Capital Market under the ticker symbol VLNC. For more information, visit www.valence.com.

About CCET

The Center for the Commercialization of Electric Technologies (CCET) recently received the $13.5 million grant from U.S. Department of Energy aimed at better integrating the vast Texas wind energy resources into the state’s electric transmission, distribution and metering system. The project represents a multi-faceted synergistic approach to managing fluctuations in wind power in the large Electric Reliability Council of Texas (ERCOT) transmission grid through better system monitoring capabilities, enhanced operator visualization and improved load management. CCET is leading a coalition of Texas electricity market participants, including Valence Technology, in carrying out the demonstration project. For more information, visit:

http://www.electrictechnologycenter.com

ANX - ADVENTRX Pharmaceuticals Inc. Sets Meeting With FDA to Discuss ANX-530 NDA:

ADVENTRX Sets Meeting With FDA to Discuss ANX-530 NDA:

Press Release Source: ADVENTRX Pharmaceuticals, Inc. On Friday March 26, 2010, 8:30 am EDT
SAN DIEGO, March 26 /PRNewswire-FirstCall/

ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX) today announced that it will meet the U.S. Food and Drug Administration (FDA) in Washington D.C. during the last week of April 2010 to review the Company's New Drug Application (NDA) for ANX-530 (vinorelbine injectable emulsion) and the FDA's refusal-to-file letter.

ADVENTRX had requested a face-to-face meeting with the FDA to understand its requirements and define the path to a successful filing of an ANX-530 NDA at the earliest possible time.

"We look forward to meeting with the agency next month to clarify the necessary steps for filing the ANX-530 NDA this year," said Brian M. Culley, Chief Executive Officer of ADVENTRX.

ADVENTRX submitted an NDA for ANX-530 to the FDA in December 2009. The Company announced on March 1, 2010 that it had received a refusal-to-file letter from the FDA regarding that submission. In the letter, the FDA indicated that the data included in the December 2009 NDA submission from the intended commercial manufacturing site was insufficient to support a commercially-viable expiration dating period. The FDA identified only this one chemistry, manufacturing and controls (CMC) reason for the refusal to file. No clinical or nonclinical issues were identified.

About ADVENTRX Pharmaceuticals:

ADVENTRX Pharmaceuticals is a specialty pharmaceutical company whose product candidates are designed to improve the performance of existing cancer treatments by addressing limitations associated principally with their safety and use. More information can be found on the Company's web site at www.adventrx.com

http://finance.yahoo.com/news/ADVENTRX-Sets-Meeting-With-prnews-3495683683.html?x=0&.v=1

SLXP - Salix Pharmaceuticals Ltd. Gets FDA Approval For XIFAXAN®

SLXP - Salix Pharmaceuticals Ltd. Gets FDA Approval For XIFAXAN®

RALEIGH, N.C.--(BUSINESS WIRE)--Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) today announced the U.S. Food and Drug Administration (FDA) has granted marketing approval for XIFAXAN® (rifaximin) 550 mg tablets for reduction in risk of overt hepatic encephalopathy (HE) recurrence in patients 18 years of age or older.

HE is a serious disorder caused by chronic liver failure, resulting in cognitive, psychiatric and motor impairments. This approval was supported by findings from the largest randomized trial of maintenance therapy in HE conducted to date, which assessed the efficacy and safety of XIFAXAN 550 mg tablets and demonstrated a statistically significant and clinically meaningful reduction in the risk of overt HE recurrence.ii The labeling for XIFAXAN 550 mg tablets includes data on both the risk reduction of overt HE recurrence as well as risk reduction of HE-related hospitalization.

http://finance.yahoo.com/news/FDA-Approves-XIFAXAN-550-MG-bw-3571437432.html?x=0&.v=1

This is a live intraday chart:



Here is a quote page that shows the Outstanding Shares, the Float, Average Daily Volume, all of which are very reasonable numbers for the sector this company is in:



Here is a chart showing last night's and this morning's Extended Hours Sessions:



Here is a daily chart that shows SLXP closed at $33.52 and it opened today's regular session at $36.15 with a high of the day at $38.00 even:

Radian Group Inc.- RDN is Up Over 17% Today...

Nice day for RDN (NYSE), up over 17%...

I've done my research on this one, and it's fast becoming one of my favorites.

Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides private mortgage insurance and related risk management products and services to mortgage lenders nationwide through its principal operating subsidiary, Radian Guaranty Inc. These services help promote and preserve homeownership opportunities for homebuyers, while protecting lenders from default-related losses on residential first mortgages and facilitating the sale of low-downpayment mortgages in the secondary market.

It's up over two dollars today, and I don't see any news behind this big move.



It's breaking up into Blue Sky territory on much higher than average Volume, and all of the technical indicators are looking very Bullish on this daily chart:

Happy Trading, and keep this one on your radar...
zigzagman

Stocks to Watch on Monday March 22nd, 2010: ANX - HDY - RNN - GSL - IDT - POL - FORD - GENT

Three AMEX Stocks: ANX - HDY - RNN:

ANX - There may be some news released next week, giving a date for the the face-to-face meeting with the FDA about the Refuse to File Letter on the NDA for their drug ANX-530.



HDY - It closed above the 15 Moving Average on above average Volume on Friday. All of the technical indicators are showing upticks, and look much more Bullish than they have in the past.



RNN - May be starting another run here. Look at what happened the last time the CCI crossed up through the +100 line. Volume picked up on Friday, and most of the technical indicators are showing improvement.



Three NYSE Stocks:

GSL - Has broken above a previous level of Resistance on above average Volume. Most of the technical indicators are showing signs of improvement.



IDT - It may be a bit too late to catch this Runaway Train, but Volume keeps increasing as it rallies, and all of the technical indicators look very Bullish.



POL - Had a HUGE pop up on Friday with over five times average daily Volume. Every one of the technical indicators are very Bullish.



Two NASDAQ Stocks:

FORD - Has broken above all levels of Resistance on above average Volume, and every technical indicator is upticking very sharply and are looking Bullish.



GENT - Also broke above all levels of Resistance on Friday on very high volume. All of the technical indicators are looking Bullish at this time, except the Accumulation/Distribution line (black). That was most likely due to massive profit taking on the huge pop up it did.



Happy Trading next week,
zigzagman

Is The United States Headed For A Commercial Real Estate Crash Of Unprecedented Magnitude?

Will commercial real estate be the next shoe to drop in the ongoing U.S. financial crisis? While most eyes are on the continuing residential real estate disaster, the reality is that the state of the commercial real estate market in America could soon be even worse. Very few financial pundits are talking about this looming disaster but they should be. The truth is that U.S. commercial property values are down approximately 40 percent since the peak in 2007 and currently approximately 18 percent of all office space in the United States is now sitting vacant. That qualifies as a complete and total mess, but the reality is that the commercial real estate crisis is just starting.

In fact, the commercial real estate market is likely to get a whole lot worse. It is being projected that the largest commercial real estate loan losses will be experienced in 2011 and the years following. Some analysts are estimating that losses from commercial real estate at U.S. banks alone could reach as high as 200 to 300 billion dollars. To get an idea of how rapidly the commercial real estate market is unraveling, just check out the chart below....



Does that look like things are getting better to you?

And unfortunately, all indications are that the commercial real estate market is going to get much worse.

According to Real Capital Analytics, the default rate for commercial property mortgages held by all U.S. banks more than doubled in the fourth quarter of 2009 and may reach a peak of 5.4 percent by the end of 2011.

But even that estimate may be way too conservative as we shall see in a moment.

According to a recent report by the Congressional Oversight Panel, approximately 3,000 U.S. banks are currently classified as having a risky concentration of commercial real estate loans. All of them are small to mid-size banks which have been already severely weakened by the recent financial crisis.

So could the crisis in the commercial real estate market lead to a massive wave of failures among small and mid-size banks?

Count on it.

In fact, the FDIC has acknowledged that the number of banks on its "problem" list climbed to 702 at the end of 2009. To get an idea of just how bad that is, keep in mind that only 552 banks that were on the problem list at the end of September 2009, and only 252 banks that were on the problem list at the end of 2008.

Are you starting to get the picture?

So how are banks responding to this commercial real estate quagmire?

They are rapidly raising loan standards and they are dramatically reducing the number of loans they are making.

Just a few years ago, the number of commercial real estate loans was exploding, but now the bubble has burst, and as the chart below reveals, commercial real estate lending has absolutely fallen off the map....



What is making things even worse is that owners of commercial real estate are starting to walk away from properties that are heavily "underwater" just as many residential homeowners have been doing. This has caused default rates to start shooting through the roof.

One of the latest and most high profile commercial property owners to do this is Vornado Realty Trust. Earlier this month Vornado indicated that it would walk away from two heavily underwater loans totaling $235 million.

In the past commercial property owners would be very hesitant to do such a thing, but the reality is that the stigma has faded for these kind of "strategic defaults". Just as with residential real estate, these kinds of defaults have almost become accepted practice now.

The number of defaults is likely to skyrocket even further with so many commercial real estate loans scheduled to rollover in the next few years.

You see, commercial real estate properties typically carry mortgages with lives of 5 to 10 years. A vast array of commercial real estate loans made between 2000 and 2005 are coming up for a rollover, but because credit standards have tightened, borrowers may find that they simply do not qualify for refinancing.

In fact, a report entitled "Commercial Real Estate at the Precipice" estimates that even under lenient lending standards, approximately 57 percent of existing commercial real estate mortgages will not qualify for refinancing.

That is a nightmare.

But if you apply more conservative lending standards, it is estimated that almost two-thirds of all commercial real estate borrowers will not qualify for a rollover.

So what is going to happen to the U.S. commercial real estate market when large numbers of borrowers start walking away from their "underwater" loans and about half of those who want to rollover their loans don't qualify for refinancing?

What do you think that is going to do to commercial real estate prices?

Somebody better do something, because both the commercial and the residential real estate markets in the U.S. face a crisis of unprecedented magnitude.

But most Americans still have no idea that the great economic machine that their forefathers built is falling to pieces all around them. They would rather numb the pain by watching the latest episode of American Idol or by catching up on the latest round of celebrity gossip.

But that is not going to stop what is about to happen.

http://theeconomiccollapseblog.com/archives/is-the-united-states-headed-for-a-commercial-real-estate-crash-of-unprecedented-magnitude

DRWI - DragonWave Inc. - Closed Up +6.27% Today!:

Last night at 9:22 pm ET, in the post just below this one, I posted that DRWI had put out some very good news about a share buyback it was planning to do.

I also stated that I thought it would be a good time to get IN this stock.

And they also announced this news on March 15th:

Cosmoline has selected DragonWave as its exclusive backhaul provider for a national 4G mobile WiMAX network across Greece. (there's a link to this story in the post below this one)



As you can see from this final Quote, DRWI closed up over 6% today, and it's daily chart is looking even more Bullish today than it did after yesterday's closing bell...



This was a very nice upward move for DTWI today on strong Volume. It closed just pennies below the high of the day, and every one of my Technical Indicators are upticking sharply. Closing above the 15MA on it's first attempt is very Bullish. If it can get through the middle Bollinger Band area at $11.50 or so, there's a real good chance it will run up to the upper BBand at around $13.50 or so.

That is my top price target for this stock before it meets any major Resistance. If the CCI gets turned back at the zero line, Stochastics will also be turning back down at the fifty line. If that happens, I'll lock in my profits and wait to see if it can rise above these two levels of Resistance before jumping back in...

A Stock to Watch: DRWI - DragonWave Inc. Moves to Support Its Stock Price:

DragonWave Inc. Moves to Support Its Stock Price:

It appears that DragonWave (DRWI) is fighting back against whatever forces were causing the free fall in its stock. The company announced a normal course issuer bid of "up to 10%" of the float this morning. It is always hard to know if companies will follow through on such promises, because we often see announcements like this of potential stock buybacks (i.e. X amount of authorized shares we "could" buy), but in reality they are just announcements and companies many times only buy a fraction of the shares authorized. But from a strategic point of view, it's an interesting move even if they don't follow through all the way since it shows the company has the willpower to support the stock price.

Either way it's a nice comfort to shareholders to see an engaged management. Most of the time you see executives more than happy to line their own pockets with extra cash rather than defend shareholders. Those darn socialist Canadians, thinking so different than Americans...

Via the company press release:

The Board of Directors of DragonWave Inc. announced today that it has authorized the purchase of common shares of the company equal to up to 10% of the public float by way of a normal course issuer bid on the Toronto Stock Exchange and/or the NASDAQ Global Market.

The normal course issuer bid is subject to acceptance by the TSX. If approved by the TSX, purchases pursuant to the normal course issuer bid will be made through the facilities of the TSX and/or the NASDAQ Global Market. The normal course issuer bid will be subject to the rules of the TSX and applicable securities laws, including the rules pertaining to the maximum number of shares that may be purchased in any one day.

DragonWave will pay the market price at the time of acquisition of common shares purchased through the facilities of the NASDAQ Global Market and/or the TSX. All common shares acquired by DragonWave under the normal course issuer bid will be canceled.

DragonWave is initiating the normal course issuer bid because it believes that, at certain times, the market price of its common shares may not reflect the underlying value of its business and its future prospects.

The objective of the normal course issuer bid is to provide capital appreciation and market stability for the benefit of DragonWave's shareholders. DragonWave has not previously engaged in a normal course issuer bid.

For reference, DRWI has 36.25M shares, almost all of which are floating (34.2M). 10% of the float would be roughly 3.4M shares - at today's prices this would be around $33M if they bought all 10%. A quick look at Yahoo Finance shows just over $100M in cash on the balance sheet.

http://seekingalpha.com/article/193707-dragonwave-moves-to-support-its-stock-price?source=yahoo

Here is an additional news release from March 15th that is very good news for this company:

Cosmoline has selected DragonWave as its exclusive backhaul provider for a national 4G mobile WiMAX network across Greece:

For more information, visit their website at www.cosmoline.com

http://www.dragonwaveinc.com/main.asp?id=news&page=releases&newsid=182

Here is a one month-daily chart for DRWI, and it looks to me like it's bottoming after a hard fall. That's when I usually like to enter a Swing Trade on the Long side. Here's my read of this chart, and why I think it's turning Bullish:

5MA - The share price closed above the 5 Moving Average, and closed at the high of the day.

CMF - Chaikin Money Flow (solid green), On Balance Volume (red) and Accumulation/Distribution (black), which are my three Money indicators are all upticking.

CCI - The Commodity Channel Index (dark blue) just gave my primary Buy Signal by crossing up through the -100 line.

STO - Stochastics (purple) was very Oversold below the 20 line, and is now upticking through it.

MACD - Moving Average Convergence Divergence - The MACD Histogram (light blue bars) is upticking, and so is the slow line of the MACD (red).

ADX - The DI's of the Average Directional Index (red and green) have started to pinch together again.

RSI - The Relative Strength Index (green at the bottom) is upticking sharply.

Volume will need to increase more if this stock is going to continue to move up.

I like what I see about this company's recent news and the way it's chart looks. I will be following this stock closely for a while to see how this plays out.

Happy Trading,
zigzagman

Stocks to Watch for March 15th: ATAI - CCO - CGIX - JOEZ - ZQK - ATV - BWEN - CNAM - CYTX - WILC:

Stocks to Watch on Monday March 15th, 2010:

LONG:

ATAI:



CCO:



CIGX:



JOEZ:



ZQK:



SHORT:

ATV:



BWEN:



CNAM:



CYTX:



WILC:

ADVENTRX Receives Brand Name Acceptance for ANX-530:

ADVENTRX Receives Brand Name Acceptance for ANX-530:

SAN DIEGO, March 12 /PRNewswire-FirstCall/ -- ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX) today announced that the U.S. Food and Drug Administration (FDA) has accepted the proposed proprietary name "Exelbine™" for the Company's product candidate ANX-530 (vinorelbine injectable emulsion).

"We are pleased with the FDA's response to our proprietary name request and look forward to continued regulatory progress on ANX-530," said Brian M. Culley, Chief Executive Officer of ADVENTRX.

Following completion of its review process, the FDA concluded that "Exelbine" is acceptable provided the information presented by ADVENTRX regarding the safety of interchanging ANX-530 with other vinorelbine injectable products is confirmed during review of an ANX-530 New Drug Application (NDA).

As previously announced, the Company submitted an NDA for ANX-530 to the FDA in December 2009. In March 2010, the Company announced that it had received a refusal-to-file letter from the FDA regarding its ANX-530 NDA submission. In the letter, the FDA indicated that the data included in the December 2009 NDA submission from the intended commercial manufacturing site was insufficient to support a commercially-viable expiration dating period. The FDA identified only this one chemistry, manufacturing and controls (CMC) reason for the refusal to file. ADVENTRX has requested a face-to-face meeting with the FDA to understand its requirements and define the path to a successful filing of an ANX-530 NDA at the earliest possible time.

About ADVENTRX Pharmaceuticals:

ADVENTRX Pharmaceuticals is a specialty pharmaceutical company whose product candidates are designed to improve the performance of existing cancer treatments by addressing limitations associated principally with their safety and use. More information can be found on the Company's web site at www.adventrx.com.

http://www.prnewswire.com/news-releases/adventrx-receives-brand-name-acceptance-for-anx-530-87453562.html

ANX closed at $0.21 yesterday, and hit $0.29 in the pre-market session this morning:

Analyst's Upgrade And Raise Price Targets For ITMN - InterMune Inc.

Thomas Weisel Partners More Than Double InterMune (ITMN) Price Target To $55

http://www.benzinga.com/analyst-ratings/analyst-color/166370/thomas-weisel-partners-more-than-doubles-intermune-itmn-price-t

Wells Fargo Upgrades InterMune (ITMN) to Outperform:

http://www.streetinsider.com/Upgrades/Wells+Fargo+Upgrades+InterMune+(ITMN)+to+Outperform/5424826.html

Top 10 Analyst Upgrades and Downgrades (ADI, NLY, BIDU, CVX, ESLR, ITMN, JCG, LMT, SONC, VALE)

Posted: March 10, 2010 at 8:22 am

These are this Wednesday’s top 10 analyst upgrades, downgrades, and initiations seen from Wall Street morning research calls:

Analog Devices Inc. (NYSE: ADI) Raised to Outperform at Bernstein.
Annaly Capital Management (NYSE: NLY) Cut To Neutral at JPMorgan.
Baidu, Inc. (NASDAQ: BIDU) Reiterated Buy but Target raised to $630 from $550 at Citigroup.
Chevron Corp. (NYSE: CVX) Cut to Neutral at BofA/Merrlill Lynch.
Evergreen Solar (NASDAQ: ESLR) Started as Hold at Wunderlich.
InterMune Inc. (NASDAQ: ITMN) Raised to Buy at ThinkEquity; Raised to Outperform at Wells Fargo.
J. Crew Group, Inc. (NYSE: JCG) Cut to Hold at Citigroup.
Lockheed Martin (NYSE: LMT) Raised to Neutral at Macquarie.
Sonic Corp. (NASDAQ: SONC) Raised to Buy at KeyBanc.
Vale SA (NYSE: VALE) Cut to Neutral at UBS.

http://247wallst.com/2010/03/10/top-10-analyst-upgrades-and-downgrades-adi-nly-bidu-cvx-eslr-itmn-jcg-lmt-sonc-vale/

Happy Trading,
zigzagman

ITMN - FDA Panel Favors Approval For Intermune Inc. Drug:

FDA panel favors approval for InterMune drug:

By: The Associated Press | 09 Mar 2010 | 04:47 PM ET

WASHINGTON - Federal health advisers on Tuesday voted in favor of an experimental drug from InterMune Inc., despite mixed evidence of whether it provides significant benefits for patients with a rare lung disease.

The Food and Drug Administration's panel of lung experts voted 9-3 to recommend approval of the company's drug pirfenidone. That recommendation followed a narrower 7-5 vote that the drug provides a "clinically meaningful benefit" for patients with idiopathic pulmonary fibrosis, an often fatal lung disease for which there are no approved drugs.

The FDA is not required to follow the group's advice, though it often does. The agency is scheduled to make its final decision by May 4.

Ultimately, the lack of options for patients with idiopathic pulmonary fibrosis, or IPF, appeared to sway a majority of panelists in the drug's favor.

"IPF is a fatal disease and you have to offer your patients hope," said Karen Gottesman, the panel's patient representative. "If this drug can offer your patients even a smidgen of hope, it's worth approving."

Intermune submitted two studies for its drug to FDA, measuring ability to improve lung function in patients. While one study showed a statistically significant 4.4 percent increase in lung strength, another failed to achieve significance compared with placebo.

The FDA usually requires two placebo-controlled trials showing meaningful results to grant approval, a fact cited by several panelists who voted against the drug's benefits.

"We have two competing studies here," said Dr. Peter Terry, of Johns Hopkins University Medical Institutions. "Based on the agency's requirement for substantial evidence I don't think this meets the criteria for clinically meaningful benefit."

Most panelists agreed the drug's effect was modest and that long-term follow-up would be needed to determine whether it can extend patient survival. While slightly more patients taking pirfenidone survived compared with patients taking placebo, there wasn't an overall survival benefit in the company's studies, according to the FDA.

"Some people were expecting a cure, this is not a cure," said Dr. Richard Honsinger, of Los Alamos Medical Center. "This drug just slows the decline caused by the disease."

In a separate vote, panelists ruled 9-3 that pirfenidone was safe for patients. Most panelists said side effects such as nausea, rash and fatigue were tolerable, considering the fatal nature of the disease.

While some pirfenidone patients experienced abnormalities in liver function, those issues mostly resolved after patients discontinued the drug.

About 200,000 people in the U.S. and Europe have idiopathic pulmonary fibrosis. The disease causes scarring and stiffening of the lungs, which makes it increasingly difficult to breathe over time. The cause of the disease is unknown.

Intermune Chief Medical Officer, Dr. Steven Porter said he was "very excited," by the meeting's outcome.

"I think it was a very productive discussion and the data spoke for itself," said Porter.

If approved, InterMune plans to market the drug in the U.S. under the name Esbriet. The drug was approved in Japan in October 2008, where it is sold under the name Pirespa by Shionogi and Co.

Shares of the Brisbane, Calif.-based company were halted in trading Tuesday ahead of the FDA's meeting. The stock closed at $23.30 Monday.

Last week shares jumped to their highest point since 2007 after the FDA posted its review of pirfenidone.

http://www.cnbc.com/id/35783566/site/14081545/for/cnbc/

Here is one of the first PR's I saw after the FDA Advisory Panel gave it's decision:

U.S. FDA Panel Backs InterMune Lung Drug:

Tue Mar 9, 2010 3:39pm EST

Final agency decision expected by May 4.

SILVER SPRING, Md., March 9 (Reuters) - U.S. medical advisers backed InterMune Inc's (ITMN.O) experimental drug to treat lung scarring on Tuesday, saying it should be approved for patients with the rare fatal condition.

In a 9-3 vote, the Food and Drug Administration's outside experts said the company's data were strong enough to support use of the drug, pirfenidone, for patients with idiopathic pulmonary fibrosis (IPF).

InterMune is seeking FDA approval of pirfenidone to help mitigate worsening lung function in patients with IPF, a fatal condition in which the lungs scar for no apparent cause.

Trading in shares of InterMune was halted ahead of the panel's vote.

http://www.reuters.com/article/idUSN0924859020100309

Here are two charts showing ITMN's big move up as soon as the trading halt was lifted at 4:30pm ET...It immediately shot up to the $38.00 range, and it's After-Hours high was $38.62

ITMN closed yesterday at $23.30 and the closing price on March 4th was $14.31

CONGRATULATIONS! to ITMN, and it's shareholders.

This is great news for the people who need this drug, since there is currently no approved drug for their condition.

Happy Trading,
zigzagman





ITMN closed yesterday at $23.30 and the closing price on March 4th was $14.31 !!!...