RegMed Competitive and Market Intelligence 4/26/12, a strange cross-current day, one step forward with 2 steps back as market are mixed post econ news, and sector lingers struggling to hold any gains
Today’s Gospel: Following a better-than-expected pending home sales report and worries over the weekly jobless claims report that showed the 4 week moving average rose to its highest since January but, has put a damper on RegMed stocks … struggled to hold gains Thursday but, a few are up marginally as NASDAQ is flat and the market deflates. Leader(s) … few green (ups) and even red (downs) and quite a few black (flats) on the screen … Look at the bond market … yields are moving down … so what are we getting is … more risk!
- ASTM is up then down (marginally – $0.01) having been down after a “busy past few days” in the mid-day range ($2.44 – $2.52) with volume of 154K while the NASDAQ is up.
- Osiris (OSIR) is up <$0.12 or 2.33% to $5.28>. Dendreon (DNDN) is up +$0.06 < from $0.21>,
- Athersys (ATHX) is down <-$0.08 or -5.76%> with the days range of $1.30 to $1.41 … on low (108K) volume as a position is unraveled; Cytori CYTX) is also down <-$0.09 or 3.67% to$2.37> in a day’s range of $2.36 – $2.455.
- BioTime (Amex: BTX) is “battling” perception … as SeekingAlpha came out with a scathing article …
- Minimal upward moves … are Cryo-Cell (OTC BB: CCEL), Geron (GERN), International Stem Cell (OTC BB: ISCO), Neuralstem (Amex: CUR), ThermoGenesis (KOOL) and Verastem (VSTM).
EconRecon: The choppy trading in the market … comes after the Labor Department released a report showing a much smaller than expected drop in initial jobless claims in the week ended 4/21.The report showed that jobless claims edged down to 388,000 from the previous week’s revised figure of 389,000. Economists had been expecting jobless claims to fall to 375,000 from the 386,000 originally reported for the previous week. While jobless claims remained below the key 400,000 level, they came in above 380,000 for the 3rd consecutive week. Housing stocks are seeing considerable strength in mid-day trading, resulting in a 1.1% gain by the Philadelphia Housing Sector Index.
Mid-Day: The NASDAQ is UP +9.75 (+0.32%) to 3,039.38 while the Dow is UP +73.41 (+0.56%) to 13,164.13.
Mid-Day Market Commentary: Stocks are turning in a lackluster performance in mid-day trading on Thursday following the release of a disappointing jobs report. The major averages are lingering near the unchanged line after ending the previous session firmly positive.
Who is UP … Mid-day:
- Cryo-Cell (OTC BB: CCel);
- Dendreon (DNDN);
- Osiris (OSIR);
- StemCells (STEM);
- ThermoGenesis (KOOL);
What’s new in the regenerative medicine/stem cell market … Nothing … to know today …