Celgene Corporation (NASDAQ: CELG), a biopharmaceutical company engaged in the discovery, development and commercialization of therapies designed to treat cancers and immune-inflammatory related diseases, have risen sharply in trading today after the company announced its financial outlook and preliminary 2012 results.
CELG said that its 2012 total net product sales are expected to be $5.4 billion, up 15% over 2011. Total net product sales for 2013 are expected to be approximately $6 billion.
CELG rose to a 52-week high of $89.40 today. At last check, the stock was trading 4.19% higher at $89.32 on volume of 4.63 million, which is well above the daily average volume of 3.07 million. CELG has gained more than 9% in the last three trading sessions. The stock has been rallying since last week. CELG has broken through $82 resistance level as a result of the rally. Technical indicators for the stock point to further gains.
SunPower Corporation (NASDAQ: SPWR), a vertically integrated solar products and services company, is seeing a rebound in mid-day trading today after falling sharply in the last two trading sessions. SPWR slipped in the previous two trading sessions after seeing a huge rally last Thursday on news that it sold two solar projects to Warren Buffett’s investment company.
SPWR is currently trading 5.37% higher at $8.04 on volume of 2.99 million, which is above the daily average volume of 2.37 million. Despite the gains, the stock is down more than 11% in the last three trading sessions.
SPWR has support at around $7.50. The stock could face resistance at around $9.
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SOURCE Investor Alley, Inc.