Honor Roll Stocks: $CRXX, $LJPC and $MSN
March 2nd, 2010 at 5:09 pm Posted by
In an effort to bring the entire student body stock picks on the move and stock market winners of the day, here’s The Dean’s Honor Roll:
$CRXX
CombinatoRx, Incorporated (NASDAQ: CRXX) is a biopharmaceutical company that focuses on discovering, developing, and outlicensing synergistic combination pharmaceuticals. Early this morning, $CRXX announced the U.S. FDA approved the new drug application (NDA) for Exalgo extended-release tablets for moderate to sever pain. With this exciting news, $CRXX became an early volume play, going on to trade more than 28 million shares, moving up as much as 55%, before closing the day 33.33% in green territory.
$LJPC
La Jolla Pharmaceutical Company (NASDAQ: LJPC) is a biopharmaceutical company engaged in the discovery and development of orally-active small molecules for the treatment of autoimmune diseases, and acute and chronic inflammatory disorders. Yesterday after close, $LJPC announced its Special Meeting of Stockholders originally scheduled for last Friday was rescheduled to take place today instead. Although there hasn’t been any news, The Dean suspects that $LJPC saw a lot of speculative volume because people anticipate the company to release an update in the near future. $LJPC traded more than 3 times its 3 month average volume and gained 30.93% today.
$MSN
Emerson Radio Corp. (AMEX: MSN) engages in designing, sourcing, importing, marketing, selling, and licensing various consumer electronic and house ware products in the United States and internationally. Earlier today, $MSN‘s Board of Directors “declared an extraordinary cash dividend of $1.10 per common share payable on March 24, 2010 to shareholders of record of the Company at the close of trading on March 15, 2010.” As a result, $MSN traded nearly 65 times its 3 month average volume, gaining as much as 54.18%, before settling down with a 23.35% gain on the day.
And let’s not forget about The Dean’s Dunce of the Day:
$NUHC
Nu Horizons Electronics Corp. (NASDAQ: NUHC) engages in the distribution of active and passive electronic components to original equipment manufacturers of electronic products in North America, Asia, and Europe. This morning, $NUHC announced that Xilinx, Inc. has formally terminated their distribution agreement due to a change in Xilinx’s distribution strategy. As a result, $NUHC was downgraded by research firm Thomas Weisel (NASDAQ: TWPG) and plummeted by as much as 32%, before closing the day 24.77% in red territory.
