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sppi posts

Spectrum Pharma (SPPI) drops on cancer drug setback

Posted Oct 9th 2009 12:40PM by Brent Archer (RSS feed)
Filed under: Major Movement, Bad News, Options, Technical Analysis

Spectrum Pharmaceutical (NASDAQ: SPPI - option chain) stock is trading lower today after the company received a Complete Response letter from the FDA regarding FUSILEV, its treatment for advanced metastatic colorectal cancer. The FDA said the company did not demonstrate that FUSILEV is non-inferior to leucovorin in its supplemental New Drug Application. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on SPPI.

This morning, SPPI opened at $4.98. So far today the stock has hit a high of $5.44 and a low of $4.82. As of 12:00, SPPI is trading at $5.12, down $1.09 (-17.6%). The chart for SPPI looks neutral.

Continue reading Spectrum Pharma (SPPI) drops on cancer drug setback

Analyst upgrades: CYBS, CNTY, SPPI and WGO

Posted Oct 9th 2007 10:30AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, US Airways Group (LCC),

MOST NOTEWORTHY: CyberSource, Century Casinos, Spectrum Pharm and Winnebago were today's noteworthy upgrades:

JMP Securities upgraded shares of CyberSource (NASDAQ: CYBS) to Market Outperform from Market Perform citing valuation, positive management comments regarding BidPay, and incrementally positive industry checks on its fraud product.
Brean Murray upgraded shares of Century Casinos (NASDAQ: CNTY) to Buy from Hold based on continued progress at recently opened properties, reduced Street expectations, and potential catalysts.
Brean Murray also upgraded Spectrum Pharmaceuticals (NASDAQ: SPPI) to Buy from Hold. The firm is highly confident that Spectrum's ozarelix will demonstrate similar efficacy and safety in the current U.S. Phase IIb trial and expects statistical significant. The firm expects Ph III initiations by year-end 2007 and Ph IIb data to be released on 2Q08.
Winnebago Industries (NYSE: WGO) was upgraded to Outperform from Sector Perform at RBC Capital. The firm expects Winnebago to begin to post better earnings from more favorable mix and pricing in the 2008 model year.

OTHER UPGRADES:

Merrill Lynch upgraded Cardinal Health (NYSE: CAH) to Buy from Neutral.
Goldman upgraded shares of US Airways (NYSE: LCC) to Buy from Neutral.
Avocent Corporation (NASDAQ: AVCT) was upgraded to Accumulate from Source the Funds at Think Equities.
Collins Stewart raised Cyberonics (NASDAQ: CYBX) to Buy from Market Perform.

Analyst upgrades 7-25-07: AMZN, CAKE, CFC, EXPE and UPS

Posted Jul 25th 2007 11:43AM by Kevin Shult (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Good news, Amazon.com (AMZN), , Expedia Inc (EXPE), United Parcel'B' (UPS), Cheesecake Factory (CAKE), Stocks to Buy

MOST NOTEWORTHY: Countrywide Financial (CFC), Brandywine Realty Trust (BDN), Manhattan Associates (MANH), Spectrum Pharmaceuticals (SPPI) and Amazon.com (AMZN) were today's noteworthy upgrades:

Keefe Bruyette upgraded shares of Countrywide Financial (NYSE: CFC) to Market Perform from Underperform on valuation.

Brandywine Realty Trust (NYSE: BDN) was upgraded at Wachovia to Market Perform from Underperform based on pipeline progress and valuation.

JP Morgan upgraded Manhattan Associates (NASDAQ: MANH) to Neutral from Underweight following better-than-expected Q2 results.

Spectrum Pharmaceuticals (NASDAQ: SPPI) was upgraded to Hold from Sell at Brean Murry, expecting shares to remain stable into the spected Phase III initiation with Ozarelix coming in Q4.

Amazon.com (NASDAQ: AMZN) was upgraded by a host of companies following the strong quarter and margin growth, including JP Morgan, which upgraded shares to Neutral from Underperform. Bear Stearns upgraded shares to Peer Perform from Underperform, Lehman upgraded shares to Equal Weight from Underweight and Credit Suisse upgraded shares to Outperform from Neutral...

OTHER UPGRADES:

Merrill upgraded United Parcel Service (NYSE: UPS) to Buy from Neutral.

Goldman added AT&T (NYSE: T) to its Conviction Buy List.

Raymond James raised Cheesecake Factory (NASDAQ: CAKE) to Strong Buy from Outperform.

Kaufman upgraded Plantronics (NYSE: PLT) to Hold from Sell.

Matrix USA upgraded Expedia (NASDAQ: EXPE) to Hold from Sell.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrades 7-23-07: BVF, COP, COSI and RIG

Posted Jul 23rd 2007 10:31AM by Kevin Shult (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Bad News, ConocoPhillips (COP)

MOST NOTEWORTHY: ConocoPhillips (COP), Transocean (RIG), LifePoint Hospitals (LPNT), EOG Resources (EOG) and Quicksilver Resources (KWK) were today's noteworthy downgrades:

Banc of America cut ConocoPhillips (NYSE: COP) to Neutral from Buy on valuation and the lack of upstream catalysts.

Deutsche Bank cut Transocean (NYSE: RIG) to Hold from Buy based on the GlobalSantaFe (GSF) merger.

Raymond James downgraded LifePoint Hospitals (NASDAQ: LPNT) to Market Perform from Strong Buy following the company's cut in guidance. Merrill Lynch downgraded LifePoint Hospitals to Neutral from Buy.

Citigroup downgraded EOG Resources (NYSE: EOG) and Quicksilver Resources (NYSE: KWK) to Sell from Hold as both trade above the sector averages for NAV and cash flow and neither is well protected in the likely event commodity prices deteriorate...

OTHER DOWNGRADES: