Welcome to stocks in the news where the headline meets the trendline.
Today’s a big day in the market, so we’ll talk big stocks, big gainers that is and one big loser.
Stock Number One: Veeva Systems (SYMBOL: VEEV)
And the headline says: Veeva Systems IPO Pops For Cloud Software Company-Investor's Business Daily
“Veeva stock was up more than 80% in midday trading in the stock market,” says IBD, “after pricing late Tuesday at $20 a share, above its expected range of $16-$18. That range had been raised from earlier expectations of $12-$14.Veeva is among several IPOs this year of companies that deliver their business software through the Internet cloud, which can be cheaper and less expensive for customers as opposed to maintaining the software on in-house hardware systems.”
The company had traded as high $39.64
For the stock market overall this is very good news: IT MEANS that capital formation is relatively healthy in this market. The lifeblood of the stock market is the primary and secondary offering markets where companies raise capital in order to expand their businesses. If companies can do that, they grow.
That said we’re going to continue our caution that we always have on popular initial public offerings.
It’s not how much you make, it’s how much keep.
Keep your fingers off of this one.
Our Ransom Notes Trendline says: Avoid Veeva Systems
Stock number two: Advance Auto (SYMBOL: AAP)
And the headline says: Advance Auto expands repair shop business with $2 billion buy- Reuters
“Advance Auto Parts Inc (AAP) will buy 1,418 outlets of the Carquest chain to boost its auto repair operations to complement its car parts business,” reports Reuters “sending its shares up as much as 20 percent to a record high. Advance Auto, which sells products such as batteries, air fresheners and engine parts, said it would buy General Parts International Inc for just over $2 billion, creating the largest North American retailer of auto parts.”
The company is trading right now at 19 times trailing earnings and 16 times it’s forward earnings although those earning will go under revision on account of the purchase
The company is enjoyed aggressive growth of about 19% annually over the past five years. This acquisition could help sustain earnings growth over the next five years. However the company’s stock chart has flatlined over the last six months.
Our Ransom Note Trendline says: Hold Advanced Auto
Stock Number Three: JC Penny (SYMBOL: JCP)
And the headline says: Here's Proof That J.C. Penney Has Lost All Credibility- Motley Fool
“J.C. Penney (NYSE: JCP) stock had yet another nasty fall on Tuesday,” says Motley Fool, “dropping nearly 9% to $7.17 -- a level not seen since the 1980s. There was no important news from the company, which has left people wondering what could have caused this big drop. Some retail-watchers pointed to a Wall Street Journal report that Burberry CEO Angela Ahrendts -- who was just announced as Apple's new senior vice president of retail and online stores -- was a top candidate for the chief executive post at J.C. Penney.”
If ever there was a definition of trying to catch a falling knife, J.C. Penney is it. The chart says this company is going into bankruptcy. The critical level before doomsday is between seven dollars and five dollars. Yep, at five dollars new margin requirements come into play meaning anybody’s owning the company on margin has to pony up more equity, that is cash. That’s one the free fall really starts and company goes under.
While I can’t predict the future, the chart says that J.C. Penney is done.
Our Ransom Note Trendline says: Sell J.C. Penny.
Welcome to Ransom's Stocks in the News where the headline meets the trendline.
Stocks in the News is produced by John Ransom in conjunction with Ransom Notes Radio.
Stock Number One: Home Inns & Hotels Management I (SYMBOL: HMIN)
And the headline says: Home Inns: Motel 168 Buy Smoothes Out Operations- Barron’s Emerging Markets Daily
“It seems Chinese budget hotelier Home Inns & Hotels Management (HMIN)’s $460 million acquisition in Motel 168 back in May has merits.,” writes Barron’s Emerging Markets Daily. “Data from the third quarter shows Motel 168 may be smoothing out Home Inns’ operations. While the unit price and occupancy rates at Home Inns’ original branches declined, Motel 168’s operations stayed firm.”
Chinese hotelier Home Inns and Hotel management stock jumped on big volume today as operating results from recent acquisitions have proved smart.
The recent acquisition of Motel 168 is seen by analyst to be helping offset declines in the company’s existing business.
The company trades today at about 100 times trailing earnings but about 3.25 times forward earnings.
Analysts however have recently reduced earnings estimates for the most recent quarter while upgrading earning prospects for the next quarter and next year.
With China’s economy’s turning around the hotel sector could provide an attractive play for aggressive growth stock investors.
Our Ransom Notes Trendline says: Buy Home Inns & Hotels Management
Stock number two: Citrix Systems, Inc. (SYMBOL: CTXS)
And the headline says: Citrix Stock Dives On Disappointing Q3 Earnings- Investor’s Business Daily
“Citrix Systems (CTXS) stock fell 11% in early trading Thursday after the maker of virtualization and content delivery software and other cloud computing system products late Wednesday preannounced a Q3 earnings miss,” writes Investor’s Business Daily. “The Santa Clara, Calif., company expects to post adjusted earnings of 68 cents to 69 cents per share. The consensus estimate of analysts polled by Thomson Reuters was 73 cents.”
The company has been enjoying healthy revenue and earnings growth in last few years, thanks to the advances in cloud computing. And this earnings miss may be a sign of trouble to come for cloud computing companies.
For the past five years the companies enjoyed about 16% earnings growth year-over-year. Going forward the company expects to enjoy about 13% earning growth annually.
Our Ransom Note Trendline says: Sell Citrix
Stock Number Three: Rite Aid Corporation (SYMBOL: RAD)
And the headline says: Rite Aid Will Pay $12 Million Over Dumping Lawsuit- Wall Street Cheat Sheet
“Rite Aid shares are up by 4.7 percent mid-morning Thursday, while the company has been ordered to pay over $12 million to resolve a civil lawsuit filed in California alleging that some 600 of its Rite Aid stores illegally dumped pesticides, bleach, and other toxics,” writes the Cheat Sheet. “The environmental protection lawsuit was brought in September by the district attorneys of Los Angeles, San Joaquin and Riverside counties. All told, 52 California district attorneys participated in the civil action.”
Right Aid is currently trading about 16 times earnings on $.32 per share in earnings over the trailing 12 months.
This company struggled over the last five years with earnings down about 75% annually. Going forward we see visibility of 8% earnings growth next five years annually.
Our Ransom Note Trendline says: Avoid Rite Aid.
It doesn’t matter why, just let you money fly…
People like to try to understand why things happen. They think it helps them as they try to control things that are uncontrollable, such as nature, other people—or the stock market.
Perhaps as a young, idealistic Marxist, Obama read about strip mining, or how the coal industry mistreated the miners/employees, broke up the unions, etc. And now, sitting in the White house, an older more jaded Marxist, he targets them for their alleged past misdeeds.Or maybe he just has some friends who compete against the coal industry, maybe investors in nuclear power, and he’s simply abusing his authority and using his influence to help them by hurting coal miners.
It doesn’t matter why. You just don’t want to fight it. Without insider knowledge of which companies will be favored and granted exemptions and contracts etc., it’s too risky
Successful stock market investors understand that you have to ruthlessly, relentlessly, put your personal feelings aside. The stock market is a place to partially own businesses and make money, period. Some advisors will tell you, if you like to watch Disney movies, you should buy Disney Stock. Or if you like to shop at Wal-Mart, you should buy Wal-Mart Stock.This is ridiculous advice, but if you are the kind of person who needs someone to tell you what to buy or sell, it’s an easy cop-out.
Then there is an arrogant new breed, who advocates “socially responsible” investing. Make a political statement with your money they say, support companies that are progressive or green or whatever. Doing that can make people feel superior; it’s not, however, the way to generate superior investment returns.
When you invest in the stock market, you are competing, and your job is to win and make as much money for yourself and your family as possible. As distasteful as his politics are to anyone who believes in private property, legally enforceable contracts, open markets, free trade and minimal governmental interference , the fact is that Obama and his policies are having a profound impact and are creating opportunities for you and me and anyone else who wants to make money.
If you know what to look for and how to use what you see.
As our economy is pushed further and further towards a full-blown socialist model, you can use the stock market to profit. Fight fire with fire.
Lenin famously quipped, “When the time comes to hang capitalism, we’ll find a capitalist to sell us the rope”.I say, when the communist comes to you to buy a rope, go ahead and sell it to him; just make sure you take all his money so he can’t build a gallows or even plant a tree to tie the rope to!
Welcome to Ransom's Stocks in the News where the headline meets the trendline.
Stocks in the News is produced by John Ransom in conjunction with Ransom Notes Radio
.Stock Number One: Ariad Pharma (SYMBOL: ARIA)
And the headline says: Ariad Pharma shares plunge 57%; patient enrollment in clinical studies of Iclusig is being paused- Briefing.com
“The Company is implementing the following actions in its Iclusig clinical development program,” writes Briefing.com. “Patient enrollment in all clinical studies of Iclusig is being paused, and subject to agreement with the FDA, will be resumed with anticipated changes in dose and other modifications. In concert with this action, the FDA placed a partial clinical hold on all new patient enrollment in clinical trials of Iclusig. Patients who are currently receiving Iclusig in clinical trials will continue on therapy.”
What clinical trials give, clinical trials take away.
Ariad Pharma has enjoyed a 52-week high around $25.40. But the stock is been dropping all year on poor clinical results.
The company closed at $17.14 yesterday is now trading today at $5.14
And right on time this from Business Wire: ARIA SHAREHOLDER ALERT: The Law Firm of Wohl & Fruchter LLP Announces Investigation of Ariad Pharmaceuticals Inc.
If you want to know what’s wrong with the country the law firm of Wohl and Fruchter LLP is exhibit number 1.
Because one day, after they are done screwing with Ariad, either Wohl or Fruchter will end up in Congress.
Our Ransom Notes Trendline says: Avoid Ariad Pharma.
Stock number two: Baidu, Inc. (SYMBOL: BIDU)
And the headline says: China Internet Rally Will Continue On Earnings Surprises, Says JPM- Barrons
“Chinese Internet stocks within J.P. Morgan‘s coverage have on average risen 122% this year,” writes Barrons. “On a P/E and PEG (P/E versus growth) multiple basis, the sector is now trading higher than its historical range. Investors are understandably nervous that the rally would soon deflate.”
Not so says JPM.
The company thinks that Baidu’s earnings might surprise people, even if P/E multiples don’t expand.
The companies currently trading about 30 times trailing 12 months earnings, which sounds to me more like a football score then a price-earnings ratio. The stock is trading at 13 times- yes that’s 13 times- sales.
We think BAIDU is BAD 4 U.
Our Ransom Note Trendline says: Sell Baidu
Stock Number Three: Alcoa Inc (SYMBOL: AA)
And the headline says: Thoughts On The First Big Q3 Earnings Number- Seeking Alpha
“The aluminum/alumina company Alcoa's (AA) Q3 EPS came in at 2 cents per share,” writes Seeking Alpha. “However back out various ‘special items’ and this figure rises to 11 cents, which was better than the 6 cents hoped for. So a ‘beat’ in earning parlance terms. Of course, the ‘earnings shuffle’ means that expectations were reduced before the numbers were released.”
The number is good because Alcoa is thought to be a bell weather stock helping determine the general trend of the economy both at home and globally.
That’s said, the chart on Alcoa is definitely bearish with the company trading below both its 50-day and 200-day moving averages.
Earnings have shrunk substantially over the last five years for the company on ppor global conditions. And while that’s expected to change shortly, this is a stock that’s going nowhere real fast.
It’s trading about 20 times its forward price earnings, with the dividend of about 1 ½%.
It is after all only aluminum. How exciting can that be?
Our Ransom Note Trendline says: Avoid Alcoa, Inc.
Want to complain about the shutdown to your Senator? Make a suggestion? Tell him or her you approve of the shutdown?
Mish reader Keith did.
Here is the response Keith received:
Subject: Reply from Senator Dianne Feinstein
As a result of the Government shutdown, my office is currently unable to respond to your email. I will respond to your concerns as soon as possible.
"Free" Taxpayer-Sponsored Vacations
Feel sorry for the displaced government workers temporarily out of a job? Don't be.
House votes to approve back pay for furloughed workers
As the fifth day of the federal government shutdown began, members of the House came together in a moment of rare bipartisanship to pass a bill, by a vote of 407 to 0, approving back pay for furloughed government workers.
President Obama has expressed his support for the measure.
Senate Majority Leader Harry M. Reid supports the measure, but said Saturday that if furloughed workers are guaranteed back pay, there’s no reason to keep them out of work.
“It’s really cruel to tell workers they’ll receive back pay once the government opens and then refuse to open the government,” Reid said on the Senate floor, suggesting that House Republicans have authorized a “paid vacation” for furloughed workers.
Furlough Pay Would Negate Shutdown Savings
The Boston Globe reports Furlough pay would negate shutdown savings
The conservatives who propelled the first federal shutdown in 17 years have argued they are fighting for smaller, less costly, less-intrusive government. But a vote over the weekend to grant back pay to furloughed federal workers would negate any savings from a government shutdown and is more likely to raise net costs to taxpayers, according to government and outside estimates.
The move highlights another peculiarity of shutting down the government: under Washington’s political calculus, sending employees home for an indefinite period does not save money.
Instead, if the Senate agrees and President Obama signs the legislation as expected, it will mean hundreds of thousands of workers will get what amounts to extra paid holidays — which they didn’t want — even as millions of Americans are unable to visit national monuments, process loans, or obtain other services.
But the act of shutting things down has resulted in a number of head-scratching scenarios, particularly in the nation’s capital, which is heavily dependant on federal funds.
Law enforcement officials were guarding one entrance to the National Zoo last week, because employees were not supposed to be working there and visitors were not allowed inside. Yet just a few feet away, contractors were hard at work rebuilding a second entrance.
There was also a symbolic barricade placed in the middle of a major bicycle path that did nothing but force riders to weave momentarily before resuming their unauthorized rides. Such scenes were playing out across the country.
Want to Complain?
Care to issue a complaint about this blatant stupidity?
If so, Email Senator Dianne Feinstein
You may also wish to Email House Speaker John Boehner.
Contacting Boehner is more difficult because he makes you go through a form verifying your mailing address to make sure that you live in his district.
With a little playing around, I found a couple of zipcodes that work: Springfield Ohio 45502-1307 or Springfield Ohio 45502-1311.
In any case, don't expect an intelligent answer from Feinstein or Boehner (or from anyone else in Congress).
Mike "Mish" Shedlock
Read more at http://globaleconomicanalysis.blogspot.com/2013/10/government-shutdown-ironies-of-day-no.html#FUtS08ZHDAx4jyHp.99
Pres. Obama got his desired effect today when he took press questions about negotiations between himself and the Republicans on the government shutdown and lifting of the debt ceiling.
Or rather the lack of negotiations between himself and the Republicans.
Wait. Did Obama just call Republicans pedophiles? Seems like Democrats have called the GOP every other name in the book
Because, you know, Pres. Obama won't be threatened by "terrorists" or "arsonist" or "bomb makers," whether they are establishment or Tea Party Republicans, unless of course they're not citizens of United States. Folks like that just have to wait until after the elections when he has a little bit more flexibility to negotiate.
Obama was firm that "members of Congress and the House Republicans in particular don't get to demand ransom in exchange for doing their jobs."
Al Qaeda, North Korea, Iran, Syria, Russia, are altogether a different matter than members of Congress, we know.
The markets almost immediately reacted to the announcement that the president would be holding a press conference today by moving in a downward fashion, sharply. Markets aren't always stupid, they saw this coming. A day that started as an ordinary, orderly retreat ended up being a rout.
Nothing Obama said after 2 PM Eastern time did anything either to help reassure the markets.
Thus far the markets have reacted with surprising maturity and foresight to the government shutdown and the idle threats about default on US debt obligations.
While stock markets have retreated, the retreat has been relatively orderly.
The concern here is that what this administration lacks in sophistication, it tries to make up for in lack of subtlety.
Expect the administration to ratchet up the pressure on Wall Street, now that they've seemed to find a formulation that works to rile up investors.
We're not for the short-term effect on the stock markets, I don't think anybody would care-- outside of the Democratic Party -- whether this government opens back up again.
Expect tomorrow for the talking heads on CNBC and Bloomberg to be banging the gong about how terrible the shutdown is for the stock markets. And while they're right in a sense, they're right for the wrong reasons.
The United States economy is loaded up like a pistol shot right now waiting to fire. The debate in Washington DC is focused on the wrong things. Any decisions about what to do on the budget, the debt ceiling and Obamacare needs to be seen through the prism of whether those decisions will help or hinder the economy.
We've had five years of bouncing along the bottom here in our economy. Any decision in favor of the status quo, which is really what Obama is arguing for, will just keep us bouncing along the bottom.
It's time to look to the past, to the pro-growth policies that have worked previously.
Technically the market still looks fairly good here, with the S&P 500 holding up above its 50 day and 200 day moving averages. A rally here would not necessarily be a big surprise.
How would that happen? Earnings, earnings, earnings.
It's the start of earning seasons, and if earnings surprise to the upside, then the market will carry-on as before.
At long last, mainstream media is giving play to widespread disability fraud running rampant in the US.
Steve Kroft on 60 Minutes reports on the alarming state of the federal disability program, which has exploded in size in the last six years and could become the first federal benefits program to run out of money.
I have been discussing disability fraud for at least four years. The subject has finally made prime time. Please play the video and read the first couple links. They are a real eye opener.
Mike "Mish" Shedlock
Read more at http://globaleconomicanalysis.blogspot.com/#UfTchw8D7s2eojSZ.99
Welcome to Ransom's Stocks in the News where the headline meets the trendline.
Stocks in the News is produced by John Ransom in cooperation with Ransom Notes Radio.
Stock Number One: Krispy Kreme Doughnuts, Inc. (SYMBOL:KKD)
And the headline says: Krispy Kreme (KKD) and Wal-Mart (WMT) Partner on Coffee Venture- The Street.com
“Krisy Kreme will enter the wholesale club channel by stocking its branded packaged ground coffee at a trial number of Sam's Club stores in the Southeast,” writes the Street.com. “Sam's Club, a division of Wal-Mart, is a membership-only retail club with 621 warehouses in the U.S. and Puerto Rico.”
"The club channel is a natural extension for the brand," said Krispy Kreme Senior Vice President Brad Wall in a statement.
This aggressive growth stock trades at a rich premium of about 31 times forward earnings projections. That said the company has done a great job managing earnings.
Analysts expect earning will grow by about 25 percent going forward and initiatives like the Walmart partnership could move earnings higher.
Our Ransom Notes Trendline says: Buy Krispy Kreme.
Our Ransom Note Trendline says:
Stock number two: Tenet Healthcare Corp (SYMBOL: THC)
And the headline says: Tenet Stock Sees Healthy Rise Amid Expansion Moves – Investor’s Business Daily
“Tenet Healthcare (THC) continues to put up healthy numbers as it expands and is expected to continue that trend with its latest deal. Tenet completed its $4.3 billion acquisition of Vanguard Health Systems earlier this month,” writes Investor’s Business Daily, “boosting its total hospital count to 77 from 49. This led Goldman Sachs to upgrade Tenet's stock rating from neutral to buy Tuesday, saying Vanguard could be a key driver of growth in the near term as well as a longer-term strategic benefit in new markets.”
Tenet Healthcare will likely continue on an aggressive growth path through mergers and acquisitions as Obamacare forces hospitals to look for costs savings by aggregation. That is if the Department of Justice allows them. Remember the DOJ has to sign off on mergers. That and the uncertain future of Obamacare make me wary of healthcare companies, with the exception of pharma and biotech.
Our Ransom Note Trendline says: Sell Tenet Healthcare
Stock Number Three: Canadian Pacific Railroad (SYMBOL: CP)
And the headline says: A Case for Hauling Canada's Coal- Motley Fool
“Coal shipped by rail in Canada increased 5.1% year to date through Sept. 28.” Says Motley Fool. “Canadian rail trends in August and September were spiking upward, with coal shipments soaring 31% year over year to 10,466 rail cars during the week ended Sept. 14; up 33% in the week ended Sept. 21; and up 20.6% in the week ended Sept. 28, according to reports by the Association for American Railroads.”
China remains a BIG user of North American coal, regardless of what environmentalists think about it.
As China’s economy heats up expect demand for North American coal to go up along with it.
This is a development that bears some watching.
Canadian Pacific has gapped up over both its 50 and 200 day moving average.
Our Ransom Note Trendline says: Hold Canadian Pacific
No matter how crazy or inefficient things are in France, socialists and their union sponsors always seek ways to make things worse. Thus, it's not at all surprising to discover economic lunacy has spread from bookstores to taxis.
Please consider Taxi Wars Erupt in Paris
Parisian taxi drivers get a bad press for being rude, playing loud music, almost never accepting credit cards and turning up for a booked ride with €10 already on the meter. They are also notoriously hard to find.
With just 18,000 vehicles, Paris' taxi fleet has remained virtually unchanged since the 1950s, while London's has swelled to around 23,000 black cabs and 40,000 minicabs.
Charles de Gaulle threw in the towel in 1958 after a two-day strike. Right-wing president Nicolas Sarkozy capitulated in 2008 after a drivers staged a three-day "operation escargot".
Now, however, the undisputed reign of "le taxi parisien" is under threat due to a recent change to the law liberalising so-called "tourist vehicles with chauffeurs", or VTCs - the French equivalent of minicabs.
Yan Hascoët, the 29-year old CEO of Chauffeur-Prive, started with 20 cars 18 months ago and business is booming. He now has a fleet of 320 vehicles, a client base of 15,000 and is seeing 15 per cent week on week growth.
"Our drivers are dressed in a suit and red tie, they open the door, make you feel at home in the car, doesn't blast their own music and don't talk unless talked to – just basic service which is hard to find in France," he told the Daily Telegraph.
VTCs work on reservations and cannot be hailed in the street. But the advent of smart phone applications using global positioning means cars can turn up almost at once, enraging taxi unions which accuse them of bending the rules.
To stop this, taxi unions are calling for on the government to impose a 15-minute delay between when a customer books a minicab and its arrival.
With a decision expected in the coming weeks, experts said the taxi lobby will pull out all the stops to get its way.
Also consider France Vows to "Save the Bookstores", Fixes Price of Books, Bans Free Shipping by Amazon
Mike "Mish" Shedlock
Read more at http://globaleconomicanalysis.blogspot.com/2013/10/french-taxi-unions-seek-minimum-15.html#pFVtvftr4gtY8uKm.99
Welcome to Ransom's Stocks in the News where the headlines meets the trendlines:
Ransom's Stocks in the News is produced by John Ransom in conjunction with Ransom Notes Radio.
Stock Number One: AT&T (SYMBOL: T)
And the headline says: U-Verse live TV streaming comes to iPhone – Engadget
“AT&T is ahead of schedule in bringing live U-Verse TV streaming to mobile devices,” writes Engadget “it just updated the service's iPhone app several days earlier than promised. As on the iPad, U-Verse subscribers with iPhones can now watch up to 108 live channels while at home, and as many as 25 when they're away.”
AT&T stock has preformed kind of unevenly during this bull run. That’s primarily because earnings year-over-year have shrunk by about 2%. This market is willing to give companies a premium on price earnings but not for companies like AT&T that are underperforming.
The forward PE is about 13 times earnings, with analysts expecting that earnings will go up by about eight and half percent next year with a five-year average about 6 1/2% going forward.
The trend is not your friend however on telephone.
Our Ransom Note Trendline says: Avoid AT&T
Stock number two: National Bank of Greece SA (SYMBOL: NBG)
And the headline says: Whether They Know it or not, Hedge Funds Love Greece ETF – ETF Trends
“John Paulson’s Paulson & Co. and other U.S. hedge funds are gobbling up shares of Greek banks on expectations that one of Europe’s most beaten-up banking sectors has seen its darkest days,” writes ETF Trends. “Paulson, who made winning bets on the sub-mortgage crisis and subsequent rebound in U.S. bank stocks, said his fund had substantial stakes in Piraeus Bank and Alpha Bank, according to the Financial Times.”
After showing signs of life in May national Bank of Greece essay flatlined over the summer, like a patient in cardiac arrest.
The stock has virtually no momentum and unless you’re willing to assume the same type of risk that hedge funds are willing to assume, US banks might be a better play for you.The bank generated negative cash flow of $9.50 billion in the last year.
Greece is still in talks with the EU about restructuring their debt, and the bailouts for the tiny Mediterranean country may not yet be over.
Our Ransom Note Trendline says: Sell National Bank of Greece
Stock Number Three: GW Pharmaceuticals (SYMBOL: GWPH)
And the headline says: GW Pharmaceuticals soars after analyst nearly triples price target - Fly on the Wall
“Shares of Britain's GW Pharmaceuticals (GWPH) are jumping after a Lazard Capital analyst wrote that the company has one of the most compelling opportunities he's ever seen,” writes Fly on the Wall, “and nearly tripled his price target on the stock. WHAT'S NEW: GW's CBD, a drug derived from the cannabis plant, has significantly helped some epilepsy patients to whom it has been administered, Lazard Capital analyst Joshua Schimmer wrote in a note to investors earlier today.”
This biotech stock traded near $32.50 today was up over $8 with a print near $32.79.
The company just released data on a drug already approved in 22 countries to treat multiple sclerosis’s called SATIVEX.
It’s also filed for phase 3 investigation of Sativex for use in controlling pain.
Our Ransom Note Trendline says: Hold GW Pharmaceuticals
Open Letter to Obama and Congress From Internet Giants Calls For Reining In Government Surveillance | Nick Sorrentino
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