BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Celgene acquiring Pharmion -- a smart move]]>http://www.bloggingstocks.com/2007/11/19/celgene-acquiring-pharmion/http://www.bloggingstocks.com/2007/11/19/celgene-acquiring-pharmion/http://www.bloggingstocks.com/2007/11/19/celgene-acquiring-pharmion/#commentsCelgene (NASDAQ: CELG), a quickly-growing biotech firm focused on technologies to treat cancer and immune-inflammatory-related diseases, announced today that the company is acquiring Pharmion Corp. (NASDAQ: PHRM) for a tad under $3 billion. Celgene markets proprietary thalidomide-based drugs for blood cancers. The acquisition of Pharmion gives Celgene a leukemia treatment that helped patients live longer in a study.

Pharmion holders will get $72 a share, 46% higher than Pharmion's most recent closing stock price of $49.28 on November 16.

This deal is being warmly received on Wall Street. While expensive, "there are few deals that make as much business sense and add as many operating synergies in the biotechnology space," according to a report from Bank of America. "With the acquisition, Celgene is increasing the depth of its pipeline which we believe was required for the next leg of growth. Celgene is acquiring a pipeline including Vidaza, a potential best in class therapy for Myelodysplastic syndromes (MDS)."

Celgene is a quickly-growing biotechnology firm that is now shoring up its pipeline with a new therapy with lots of potential. Mr. Mad Money himself has publicly supported Celgene. You can see what BloggingStocks had to say about Cramer's interview with Celgene COO back earlier this year.

Celgene acquiring Pharmion -- a smart move originally appeared on BloggingStocks on Mon, 19 Nov 2007 09:08:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>biotechcelgcelgeneinthenewspharmapharmionphrmMon, 19 Nov 2007 09:08:00 EST<![CDATA[Before the bell: Futures indicating a lower start as oil rises]]>http://www.bloggingstocks.com/2007/11/19/before-the-bell-futures-indicating-a-lower-start-as-oil-rises/http://www.bloggingstocks.com/2007/11/19/before-the-bell-futures-indicating-a-lower-start-as-oil-rises/http://www.bloggingstocks.com/2007/11/19/before-the-bell-futures-indicating-a-lower-start-as-oil-rises/#commentsFiled under: , , , , , , , ,

If you're a bear, then at least another down beginning may await you in today's session. At least, that's the indication U.S. stock futures are giving this morning. As economists forecast the risk of a recession increased due to the collapse of the housing market along with the credit crunch and as oil prices jumped again on OPEC comments, it seems the bears have returned.

On Friday, U.S. stocks saw volatile session that ended with gains, with the Dow industrials rising 66 points, or 0.51%, the Nasdaq Composite up 18 points, or 0.72%, and the S&P 500 rising 7 points, or 0.52%. On the week stocks finished higher in a week full of wild swings. The Dow ended up 1.03%, the S&P 500 and the Nasdaq ended up 0.35%.

Not much economic data is due today so investors are focusing on rising oil prices, overseas activity and some M&A action.

Continue reading Before the bell: Futures indicating a lower start as oil rises

Before the bell: Futures indicating a lower start as oil rises originally appeared on BloggingStocks on Mon, 19 Nov 2007 07:46:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ccelgfeaturedgrolschhpqlownorthern rockNorthernRockphrmsabmillerswiss reSwissRexrxMon, 19 Nov 2007 07:46:00 EST<![CDATA[Major mover: Pharmion (PHRM) jumps by half]]>http://www.bloggingstocks.com/2007/08/02/major-mover-pharmion-phrm/http://www.bloggingstocks.com/2007/08/02/major-mover-pharmion-phrm/http://www.bloggingstocks.com/2007/08/02/major-mover-pharmion-phrm/#commentsFiled under:

Positive test results for Pharmion Corporation (NASDAQ: PHRM)'s drug Vidaza shot the global pharmaceutical firm's shares more than 50% higher in morning trading Thursday. Pharmion is currently the biggest percentage gainer on the NASDAQ.

Vidaza is said to significantly extend the life of patients with myelodysplastic syndrome. In a late-stage study, results showed that taking Vidaza extends the median survival of 15 months for those on conventional treatments to 24.4 months. Shortly before 1:30 p.m., Pharmion shares were trading at $37.60, up 52% from Wednesday's $24.64 close.

Major mover: Pharmion (PHRM) jumps by half originally appeared on BloggingStocks on Thu, 02 Aug 2007 13:27:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>major movementMajorMovementmyelodysplastic syndromeMyelodysplasticSyndromePharmionPHRMtop gainersTopGainersVidazaThu, 02 Aug 2007 13:27:00 EST<![CDATA[Analyst downgrades 2-22-07: SanDisk & ValueClick downgraded today]]>http://www.bloggingstocks.com/2007/02/22/analyst-downgrades-2-22-07-sandisk-and-valueclick-downgraded-toda/http://www.bloggingstocks.com/2007/02/22/analyst-downgrades-2-22-07-sandisk-and-valueclick-downgraded-toda/http://www.bloggingstocks.com/2007/02/22/analyst-downgrades-2-22-07-sandisk-and-valueclick-downgraded-toda/#commentsFiled under: , , ,

MOST NOTEWORTHY: Pharmion Corp (PHRM), Genesis Microchip (GNSS) and SanDisk Corp (SNDK) were some of today's most notable downgrades:
  • Pharmion Corp (NASDAQ: PHRM) was downgraded to Sell from Source of Funds at ThinkEquity, citing valuation.
  • Matrix USA downgraded Genesis Microchip Inc (NASDAQ: GNSS) to Strong Sell from Hold to reflect a share decline in revenues; they also believe shares are overvalued relative to the sector.
  • SanDisk Corp (NASDAQ: SNDK) was cut to Hold from Buy at WR Hambrecht. The firm said it has learned that a crack in the IP story has occurred, as Samsung has found a way to significantly reduce its royalty payments to SanDisk on its finished SD cards that it is currently shipping. The firm said this step by Samsung puts at risk ~15% of SanDisk royalty revenues as early as Q2:07, as Samsung is no longer willing to pay the 8% royalty rate to SanDisk on NAND MLC SD cards.
OTHER DOWNGRADES:
  • Stephens downgraded Group 1 Automotive Inc (NYSE: GPI) to Equal Weight from Overweight following disappointing Q1 results.
  • JMP Securities downgraded Flanders Corp (NASDAQ: FLDR) to Market Perform from Outperform.
  • Oppenheimer cut ValueClick Inc (NASDAQ: VCLK) to Neutral from Buy on valuation.
  • Matrix USA downgraded L-1 Identity Solutions (NYSE: ID) to Sell from Buy on valuation.
  • Goldman took Medco Health Solutions Inc (NYSE: MHS) off its Conviction Buy List, citing valuation.
  • Raymond James lowered Hiland Holdings (NASDAQ: HPGP) rating to Outperform from Strong Buy.
  • JP Morgan cut Waters Corp (NYSE: WAT) to Neutral from Overweight based on valuation.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrades 2-22-07: SanDisk & ValueClick downgraded today originally appeared on BloggingStocks on Thu, 22 Feb 2007 11:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>analystdowngradeflandersfldrgenesisgnssgpigroup 1 autoGroup1Autohilandhpgpidmedcomhsoharmionphrmrating changeRatingChangesandisksndktheflyonthewall.comvalueclickvclkwatwatersThu, 22 Feb 2007 11:30:00 EST