An analyst is an “expert” who will know tomorrow why the things he predicted yesterday … didn’t happen!
Mid-Day: The NASDAQ is now Down - 1.45 (-0.05%) to 2,892.31 while the Dow is UP +12.31 (+0.17%) to 12,653.31.
Mid-Day Market Commentary: Some RegMed stocks opened higher (ASTM and OSIR) as others struggled to gain footage … in choppy trading Wednesday, as economic reports … get better. The CBOE Volatility Index, <fear gauge> traded near 21, again.
Today’s Gospel: RegMed stocks are down. … Mid-day, Wednesday … there are few leader(s) …a few green (ups) and more red (downs) and 5 black (flats) on the screen. After trending lower in recent sessions, stocks are moving notably higher in early trading on Wednesday. The major averages have seen some further upside in the past hour, reaching new highs for these session. The early strength is partly due to … bargain hunting, with traders picking up stocks at reduced levels following the recent weakness in the markets. The markets have also benefited from some upbeat US economic data, including a report from the Fed showing a much bigger than expected increase in industrial production in April.
- Aastrom (ASTM) is up +$0.03 to $2.35 with a … decreasing … mid-day range $2.33 -$2.43 with … low volume to start the day but, picking up … volume of 112K shares;
- Cytori (CYTX) is down $0.085 <-3.87%< to $2.16 … in an decreasing trading range of $2.16 – $2.27 with … small trading of 162K;
- Ah ha, Osiris (OSIR) is up $0.18 or +4.41% to $5.19 in a decreasing trading range of $4.93 – $5.19 and Verastem (VSTM) is down $0.12 or -1.24% to $9.57.
Minimal upward moves: Advanced Cell Technology (OTC BB: ACTC), BioTime (Amex: BTX), BioMimetic (BMTI), Dendreon (DNDN), ImmunoCellular (OTC BB: IMUC), Opexa (OPXA),
Minimal downward moves: Athersys (ATHX), Cytomedix (OTC BB: CMXI) – post earnings, Geron (GERN), Fibrocell (OTC BB: FCSC), NeoStem (Amex: NBS), Neuralstem (Amex: CUR), and Pluristem (PSTI), ReNeuron (RENE.L), StemCells (STEM), Tengion (TNGN).
Flat: Cryo-Cell (OTC BB: CCEL),International Stem Cell (OTC BB: ISCO) – post earnings,
EconRecon: Housing starts rose more than expected in April, gaining 2.6% to a seasonally adjusted annual rate of 717,000 units. Economists had forecast housing starts rising to 680,000-unit rate. Still, building permits fell 7%. And industrial production grew 1.1% in April, posting its fastest growth in over a year, according to the Federal Reserve, after being flat in February and March.
What’s new in the regenerative medicine/stem cell market … Earnings (LPS) Season is all but over …