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The US markets ended the week on a high note with the DOW having closed the week above the 13,200 mark after trading lower for most of the day on Friday. The international markets also received a nice boost this week as signs that the European economy would respond well to stimulus packages were noted while US productivity numbers were up more than expected for the most recently-completed quarter. Some sub-par Chinese export numbers threatened to kill the feel-good mood late in the trading week, but the bulls again took charge and US stocks posted their sixth day in a row of gains on Friday.
The summer swoon that many had predicted has yet to materialize and although a few high-profile earnings misses brought out the bears early in the reporting season, there looks to be little reason to believe the markets will falter - at least for now.
Healthcare, Biotech, Pharmaceutical:
Amarin Corporation (AMRN): Amarin shares finally started to rebound late last week after having dropped big following the announcement of an FDA approval for Vascepa in the treatment of very high triglycerides during the closing days of July. The move downward surprised some, but it was also a largely expected move since the trends in the sector these days is to see the biggest run-ups after positive Phase III results and then again leading into a drug approval decision.
Amarin's run was also largely based on speculation of a buyout, however, and when a couple of patent concerns still lingered and a final decision on Vascepa's New Chemical Entity (NCE) status was yet to be rendered, the opportunity arose for the traders to move out and allow for a batch of new longs to move in that were taking positions on either a potential buyout or for just the potential of the product on the market, which is expected to be blockbuster, based on highly-positive Phase III results.
MRI Interventions (MRIC): MRI Interventions looks to have stabilized in the low two dollar range following a run earlier this summer that led to a quick triple in share price. With shares trading back to their current levels, the company may be worth another look as its technology has been shown to significantly enhance existing MRI suites to better enable medical professionals to conduct less-invasive procedures on the brain and heart through ClearPoint and ClearTrace MRI-augmenting units, respectively.
Spectrum Pharmaceuticals (SPPI): Shares of Spectrum started to rebound during the closing days of the week after having dropped quite significantly following a very positive earnings report that included total revenue of nearly seventy million dollars while FUSILEV revenue nearly doubled its in-take from the same quarter of 2011. As if that wasn't enough, Spectrum reported that it now has nearly $280 million on the books.
Sunshine Heart (SSH): Shares of Sunshine Heart slipped by 15% on Friday on the announcement of a seven dollar pricing for a previously-announced stock offering. According to the press release issued, the offering size had been increased from 2,500,000 shares to 2,875,000 shares and Sunshine has also "granted the underwriters a 30-day option to purchase up to an additional 431,250 shares solely to cover over-allotments, if any."
Explosive Trace Detection (ETD) / Global Defense:
Implant Sciences (IMSC): Shares of Implant Sciences have dipped to below the $1.40 mark again and may be worth a keen look as a milestone event is pending for later this month that has the potential to launch the company into the mainstream of the ETD environment and bring in millions in government contracts.
Clean Energy / Industrial:
Capstone Turbine (CPST): Shares of Capstone traded back down towards a buck this past Friday on another round of earnings where revenue and sales increased, but the total numbers still missed the expected mark, according to various analyst estimates. All signs continued positive on this company's trek towards profitability, as margins also increased modestly, but investors are still awaiting signs that profitability is inevitable, and not still just a far-off possibility.
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VFC's Stock House is an information and research outlet that brings new ideas to the table and opens discussions for a broad spectrum of investors, with a strong focus on - but not limited to - biotech stocks, biopharma stocks, and pharmaceutical and healthcare stocks. VFC's Stock House provides individual company profiles, write-ups and reports as well as giving general insights into broader-market news through various 'Stock Watch' lists. At the conclusion of most weeks, VFC's Stock House issues a "Weekly Stock Watch" that examines news items, stocks and stories that made headlines during the previous trading week, but may also make headlines or influence trends during the upcoming week as well. The information contained within the pages of VFCs Stock House are not intended to be taken as advice, but as a starting point where investors can follow up with their own DD and devise their own entry and exit strategies.
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