NEW YORK, March 26, 2013 /PRNewswire/ --
Cyprus reached a deal to avoid
financial meltdown on Monday but comments from a top Euro Zone
official Jeroen Dijsselbloem indicated that trouble in other
regions may not be over. After a disappointing launch of the
Company's new touchscreen in the U.S., shares of BlackBerry were
downgraded by Goldman Sachs on Monday. Simona Jankowski said in a research note that
retail checks at over 20 store locations since March 22, including AT&T, Best Buy and Radio
Shack, revealed a surprising lack of marketing support and poor
positioning of the new Z10 touchscreen BlackBerry. Goldman Sachs
downgraded BBRY to "neutral" from "buy" and Jankowski lowered her
12-month target on the stock from $19 to
$17. Blackberry closed down 4.56% at $14.23.
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Veeco Instruments Inc. (Nasdaq: VECO) - Shares of VECO hit a new
52-week high on Monday at $40.34.
Trading volume yesterday was also significantly higher than the
stock's average of 598,121 shares. Together with its subsidiaries,
the Company designs, manufactures, and markets various equipments
to make light emitting diodes (LEDs) and hard-disk drives
worldwide. Veeco announced last week that the world record for
energy efficiency of a commercial-ready production solar cell by
Solar Junction was achieved on its Dual GEN200® Molecular Beam
Epitaxy (MBE) System. VECO closed at $37.93, up 8.50%.
Many mid or large cap stocks once started off as Penny
stocks!
Stereotaxis Inc. (Nasdaq: STXS) - Sterotaxis was one of the most
active stocks on the Nasdaq composite on Monday. The Company
announced yesterday that it has received regulatory approval of its
Niobe(R) remote magnetic
technology for cardiac ablations in Japan. This is a critical milestone in
securing full market entry into the country. Approval by the
Pharmaceuticals and Medical Devices Agency, Japan's is equivalent to the U.S. Food and
Drug Administration. The company also received notice on
March 20 from the Nasdaq Stock Market
that the company was not in compliance with the market's rule that
it must have $50 million in total
assets and total revenues for the most recently completed fiscal
year or for two of the last three most recently completed fiscal
years. Shares of STXS closed up 33.52% at $2.39.
Apollo Group Inc. (Nasdaq: APOL) - Shares of APOL saw a boost on
Monday trading as high as $19.63 in
intra-day trading - a premium to its 50-day moving average of
$18.10. The boost on Monday could
have been contributed to the Company's 2013 outlook. Excluding
one-time items, calls for net revenue of $3.65 billion to $3.75 billion on operating
income of $500 million to $550
million. Analysts, on average, were expecting current-year
revenues of $3.73 billion. Shares of
APOL closed up 7.10% at $18.25. The
stock has a 52-week trading range of 15.98 - 43.80. Trading volume
on Monday at roughly 15 million shares traded was about five times
higher than the stock's average of 2,734,290 shares. The Company,
through its subsidiaries, provides online and on-campus educational
programs and services at the undergraduate, masters, and doctoral
levels.
Penny stocks can deliver sky-rocketing returns and are a popular
choice among many investors in the market because of how much lower
they trade than big cap companies.
Idenix Pharmaceuticals Inc. (Nasdaq: IDIX) - IDIX was one of the
biggest decliners on the Nasdaq composite on Monday. The stock
closed down 19.78% at $3.69. In
intra-day trading the stock even went as low as $3.40, just five
cents above its 52-week low. Shares tumbled after the
Company released a PR announcing that the U.S. Patent and Trademark
Office determined a competitor was the first to request a patent
for a hepatitis therapy. The patent dispute covers certain
2'-methyl-2' fluoro nucleoside compounds used in hepatitis-C
treatment and waas filed by Idenix last March. The U.S. Patent and
Trademark Office determined that Gilead (Nasdaq: GILD) is the
senior party and that Idenix is the junior party.
USG Corporation (NYSE: USG) - USG corporation shares sank on
Monday on significantly high trading volume. The stock traded
roughly 7.6 million shares yesterday in comparison to about 1.7
million shares. USG announced last Friday that its Board of
Directors amended the Corporation's existing stockholder rights
plan to lower the ownership threshold to a level that could provide
protection to USG's net operating loss carryforwards ("NOLs") and
related deferred tax assets. The Company through its subsidiaries
engages in the manufacture and distribution of building materials
worldwide. Shares closed at $26.91
down 8.53%.
Penny stocks due to their tiny share prices, allow online
investors to buy large numbers of shares which means they own a
bigger chunk of the stock.
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