Broadcom Pops on Susquehanna Upgrade and 2 Other Hot Stocks to Watch
Broadcom Corp. (NASDAQ:BRCM): Current price $27.511
Broadcom shares are up about 2.75 percent Tuesday after the stock being upgraded from Neutral to Positive at Susquehanna. The firm upgraded Broadcom on reset expectations and upcoming catalysts, among which include potential improvement in networking, the iPhone 6 product-cycle, and positive developments from the recent Renesas purchase. Concurrently, the price target was raised from $33 to $35.
Pandora Media Inc. (NYSE:P): Current price $24.66
On Tuesday, the internet radio service said that it plans to begin, subject to market and other conditions, an underwritten public offering of 10 million shares of its common stock, following an effective registration statement. Additionally, 4 million shares will be offered by the selling stockholder. Beyond that, Pandora will allow the underwriters a 30-day option to buy up to an additional 2.1 million shares to cover any over-allotments. The company will use the net proceeds for general corporate purposes, including working capital and capital expenditures.
Agenus Inc. (NASDAQ:AGEN): Current price $3.25
Agenus announced Tuesday that a recent analysis from a Phase 2 trial in patients having newly-diagnosed glioblastoma multiforme and treated with Prophage Series G-100 (HSPPC-96) — in combination with the current standard of care (radiation and temozolomide) — exhibited a nearly 18-month median progression free survival, which marks a 160-percent increase when compared to current standard of care alone. This analysis affirms continuation of the positive trends from the Phase 2 HSPPC-96 newly-diagnosed GBM trial that was first reported at the 81st American Association of Neurological Surgeons Annual Scientific Meeting in May 2013.