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MOST NOTEWORTHY: Cougar Biotechnology, Icagen and SuccessFactors were today's noteworthy initiations:
- Rodman & Renshaw expects Cougar Biotechnology's (NASDAQ: CGRB) lead drug, abiraterone acetate, which has shown encouraging signs of activity in both chemotherapy-naive and hormone-refractory prostate cancer patients, to initiate Phase III trials in 2008 and make it to the market in 2011. The firm started shares with a Market Outperform rating and $36 target.
- Rodman said Icagen (NASDAQ: ICGN) is focused on the development of small molecule drugs that control ion channels and has emerged as a leader by focusing on epilepsy, pain and immuno-inflammation. The firm initiated shares with a Market Outperform rating.
- JMP Securities initiated SuccessFactors (NASDAQ: SFSF) with a Market Outperform rating and is positive on the company's revenue and bookings growth. JP Morgan initiated SuccessFactors with an Overweight rating.
OTHER INITIATIONS:
U.S. Justice Department turns an eye on the telecoms
Serious Money: Three stocks that beat the market
Closing Bell: The wishy-washy return to Q3 (AA, DDUP, EMC, DNDN, CVX, FSLR, GS)
