Peregrine Pharma Rides the Seesaw and 4 Heavily Traded Shares Buzzing Now
Peregrine Pharmaceuticals (NASDAQ:PPHM) is the volume leader today after it announced that the phase 2 clinical trial results for its bavituximab, weren’t reliable. Peregrine collapsed fell down to $1.23 before it quickly increased to $.87. It is at $1.68 (+44.83%) as of 12:09 p.m. EDT.
Research In Motion Limited (NASDAQ:RIMM) watchers should focus on the cash position of the company when it reports its quarterly results this week. The company is still in need of the money to develop, build, and market its new BlackBerry 10, BB10, scheduled to start shipping in 2013, according to Reuters.
General Electric Company (NYSE:GE) CEO Immelt stated that 2012 wouldn’t see any big acquisitions, but it could be considering them again. A company executive has stated that the company wishes to more than double the size of its new mining business to $5 billion in revenue by 2016, according to the Wall Street Journal.
Pfizer Inc. (NYSE:PFE): Pain Therapeutics (NASDAQ:PTIE) shares keep rising as its partner Pfizer (NYSE:PFE) continues to indicate that Remoxy’s New Drug Application (NDA) could possibly be resubmitted during the upcoming months. Remoxy is Pain Therapeutics’ top compound, and it is an extended-release formulation used in the the widely known painkiller, oxycodone. Remoxy is a nonaddictive form of oxycodone, and Analysts believe think that the drug could achieve annual sales reaching a billion dollars. Before this can happen, Pfizer has to make sure the drug finds its way back in front of the FDA, which asked for additional information before the drug has the ability to obtain U.S. approval.
Nokia Corporation (NYSE:NOK) revealed its Nokia Life+, which is the most recent evolution of its popular Nokia Life service. Nokia Life+ is a free Web application providing millions of individuals who own Nokia phones to obtain information regarding education, health, and “infotainment” topics. Nokia Life+ is to be supported by the Nokia Asha 308 and Nokia Asha 309 smartphones along with various Nokia mobile phones.
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