RegMed Competitive and Market Intelligence 5/3/12, the sector just can NOT defy gravity in this scareconomy
Today’s Gospel: RegMed stocks opened lower and again … still bouncing mid-day, Thursday … share pricing is also again …flat in thin trading … with NO leader(s) … few green (ups) and much more red (downs) and 0 black (flats) on the screen. Geron’s (GERN) earnings (LPs) announced a net loss of $15.8M or $0.15per share with $136.9M remaining in cash – not bad.
- My favorites: Aastrom (ASTM) is flat with a dropping mid-day range ($2.45 – $2.54), with very thin volume of 97K shares; Cytori (CYTX) is down in an also dropping trading range of $2.38 -$2.46 also with thin trading of 77K;
- Minimal upward moves … who isn’t down … in this market condition: BioLife Solutions (OTC BB: BLFS) and NeoStem (Amex: NBS) …
- Minimal downward moves … just about all companies in the sector ….
EconRecon: The pace of growth in the service sector slowed to 53.5 in April, slipping from 56.0 in the month prior, according to the ISM non-manufacturing index. Economists had expected a reading of 55.5. A reading above 50 signals expansion – contrary signal? Weekly claims for jobless benefits fell more than expected, down 27,000 to a seasonally adjusted 365,000, the biggest weekly drop in almost a year. Economists polled expected claims falling to 380,000. The report comes ahead of the key government jobs data for April, due Friday. The latest estimates from economists … call for a gain of 170,000 new positions, a gain from March’s tepid gain of 120,000.
Mid-Day: The NASDAQ is DOWN -27.41 (-0.09%) to 3,032.44 while the Dow is DOWN -42.61 (-0.32%) to 13,225.96.
Mid-Day Market Commentary: After ending the yesterday’s session mixed, stocks are turning in a lackluster performance in mid-day trading … on Thursday. The major averages are showing only modest moves. The choppy trading comes despite the release of a report from the Labor Department showing a much bigger than expected drop in initial jobless claims in the week ended April 28th. Traders may be staying on the sidelines ahead of the release of the Labor Department’s more closely watched monthly employment report on Friday.
What’s new in the regenerative medicine/stem cell market … 1 … to know today …
Geron Corporation (GERN) Q1/12 Financial Results and Highlights: Net loss for Q1/12 was $18.7M, or $0.15 per share, compared to $24.4M, or $0.20 per share, for Q1/11. http://www.scimitarequity.com/blog/2012/05/03/geron-corporation-gern-q112-financial-results-and-highlights . But, GERN ended Q1/12 with $136.9M in cash and investments.