Bookmark and Share

Major Movers on December 10; ZGNX, CLDX, CBMX, MCD, HPQ, AAPL

Shares of Zogenix Inc. (NASDAQ: ZGNX), a pharmaceutical company which focuses on treatment related to central nervous disorder and pain, plummeted 46 percent on Monday after the Company revealed that Food and Drug Administration’s advisory committee voted against the application for approval of a pain treatment.

Just about a month ago, Zogenix reported lighter-than-expected loss in the fiscal third quarter. Earnings per share or (EPS) stood at negative 16 cents against analysts’ consensual forecast of negative 18 cents. Revenue during the period stood at $8.5 million, falling short of Street’s estimate of $9.82 million. for the current quarter, the company is expecting revenue of $45.5 million while analysts’ consensus is at $46.99 million.

Celldex Therapeutics Inc. (NASDAQ:CLDX) leaped nearly 22 percent after the Company reported upbeat results related to its Phase 2b study of its breast cancer treatment. Celldex said that its results from Phase 2b study of CDX-011 in patients with a type of advanced breast cancer, shows that treatment provide overall survival chances in patients having high GPNMB expression. Analysts at Brean Murray described the results as “impressive”. In a note to investors, the firm wrote, “[the treatment] targets a clear and large unmet need.” Brean Murray also reaffirmed its “buy” rating on the stock with a target price of $14.

CombiMatrix Corporation (NASDAQ: CBMX) skyrocketed about 42 percent  after New England Journal of Medicine validated Irvine-based molecular diagnostic company ‘s test results on Friday. The company said the studies focused on chromosomal microarray analysis,–CombiMatrix’s testing specialty—as opposed to  traditional karyotype tests for genetic prenatal analysis and genetic study of stillbirths.

CombiMatrix is a molecular diagnostic laboratory providing DNA-based testing services to the prenatal, pediatric and oncology markets.

McDonald’s Corp. (NYSE: MCD) gained 1.40 percent after world’s largest fast-food chain reported growth in same-store-sales for November. Globally, same-store-sales climbed 2.4 percent even as analysts’ consensual estimate was for modest 0.17 percent increase. Earlier in October, McDonald’s had reported drop in same-store-sales, a first fall in a decade, citing weakness in demand.

In the U.S., same-store sales increased by 2.5% in November, while analysts’ consensual estimate was of a 0.59% decline.

McDonald’s which also bettered analysts’ estimate for other markets such as Asia pacific, Europe, Middle East and Africa, said that it will continue to add ‘value menus’ in several countries, having tasted success in markets like Australia, Japan  and France in this year.

Hewlett-Packard Company (NYSE: HPQ) gained 3.50 percent on Monday amid market rumors that billionaire investor Carl Icahn could be building a stake in the company.

Shares of iPhone maker Apple Inc. (NASDAQ: AAPL) slipped on Monday after Jefferies downwardly revised its price target on Company’s stock to $800 from $900. Lately the company has witnessed wobbly phase in the stock market. In fact, last week was Apple’s worst week on Wall Street since 2010. Apple shares, which hit a record price of $705.07 in September, have tumbled nearly 20 percent since then as increasing competition from rivals, declining popularity for Apple products, weak technicals has shaken investors’ faith somewhat.


Leave a Reply




You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

All stories in are for informational purposes only. This is NOT a stock recommendation. This story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at . About is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.