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Closing Bell: Market Dips After Long Winning Streak (NEXM, LXK, PT, TLAB, MMM)

Posted Apr 27th 2010 4:20PM by Jon Ogg (RSS feed)
Filed under: 3M Corporation (MMM)

Stronger than expected consumer confidence results didn't matter to traders today. Concerns about Greece and other PIIGS nations dominated the market after S&P cut Portugal's debt ratings. Testimony from Goldman Sachs in Washington D.C. captured almost all of the day's media attention. The closing bell also came in effectively at the lows of the trading day.

Here were the unofficial closing bell levels:

Dow 10,991.99 -213.04 (-1.90%)
Nasdaq 2,471.47 -51.48 (-2.04%)
S&P 500 1,183.71 -28.34 (-2.34%)

Continue reading Closing Bell: Market Dips After Long Winning Streak (NEXM, LXK, PT, TLAB, MMM)

Analyst initiations: PCLN, GTXI, AKNS and NEXM

Posted Mar 25th 2008 11:57AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Initiations

MOST NOTEWORTHY: GTX Inc, Akeena Solar and NexMed were today's noteworthy initiations:

Rodman & Renshaw is positive on GTX Inc's (NASDAQ: GTXI) opportunity for Acapodene in prostate cancer and Ostarine for muscle wasting. The firm started shares with an Outperform rating and $22 target.
Akeena Solar (NASDAQ: AKNS) was initiated with a Buy rating at Merriman. The firm believes the company is positioned to generate a high margin recurring revenue stream through the licensing of its Andalay proprietary rack mounting system.
Roth Capital expects NexMed's (NASDAQ: NEXM) Phase III data for its antifungal Lamisil, expected in mid-2008, to be positive. The firm, which started NexMed with a Buy rating and $2.50 target, said early clinical data demonstrated a roughly 7-8X improvement in fungal reductions versus the competitive topical formulation sold as Penlac. The analyst said Phase III trial will admittedly have a different end point, but this data makes them bullish.

OTHER INITIATIONS:

Lehman initiated Liberty Entertainment (NASDAQ: LMDIA) with an Overweight rating and $30 target.
Canaccord Adams assumed Priceline.com (NASDAQ: PCLN) with a Hold rating and $120 target.
Home Inns (NASDAQ: HMIN) was started at Morgan Stanley with an Overweight rating and $28 target.