Arena’s Stock AILS and 4 High Demand Stocks Thursday
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA): Shares of Arena are below $11 per share, down over 4% Thursday. The buzz surrounding Arena’s Belviq diet drug has been dampened by Jim Cramer, who states that the drug will not earn as much as expected. Cramer states that Arena will gain just below 40% of its revenue from treatment, which is not as effective as anticipated nor as good at Vivus’ (NASDAQ:VVUS) yet-to-be-approved Qnexa. Additionally, Arena just filed for a thumbs up to market Belviq in Switzerland, hoping to piggy back off the U.S. FDA approval in June.
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Micron Technology, Inc. (NASDAQ:MU): Semiconductor companies have had a rough week since new reports from Advance Micro Devices and Applied Materials indicated slowing demand in China and Europe. The Philadelphia Semiconductor Index (SOX) dropped more than 5% during the past week. Applied Materials Chief Executive Michael Splinter stated “Both China and Europe are quite weak…Both markets are worse than they were at this time last year.” The Paragon Report examines investing opportunities within the Semiconductor Industry as well as providing equity research on Advanced Micro Devices, Inc. AMD and Micron Technology, Inc.
Intel Corporation (NASDAQ:INTC): According to IHS and Digitimes, 49% of devices obtaining TV services from 43 of the top global pay-TV operators using multiscreen devices will be PCs, smartphones, and tablets by 2015, an 18% increase from 2011.
Cisco Systems, Inc. (NASDAQ:CSCO): TDS Telecommunications Corp. (TDS®) Commercial Marketing and Product Development vice president Tom Canfield recently accepted a position for Cisco Systems’ Small Business Executive Exchange Advisory Board (SBEE).
Ford Motor Company (NYSE:F): Seven years ago, Ford recalled nearly 470,000 Escape crossovers from 2002-2004 model years in order to repair a pesky accelerator cable, but the Center for Auto Safety claims the repairs may have caused an additional problem, which may stop the engine from idling. On the other hand, CARS claims that the recommended repairs might cause damage to the vehicle’s cruise control cable leading to unwanted acceleration. CARS states that the newer problem is linked to at least one fatal accident and a number of owner complaints. Ford is currently investigating the complaints.
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