Tuesday, March 2, 2010

Intra-day action (NTRI, SQNM, MEE, PCX)

US stocks are hovering near - bit not quite at - their highs for the day.

Among gainers, biotech firm Sequenom (SQNM) is up 19% thanks to an upgrade from Cantor Fitzgerald, who QUADRUPLED their price target from $4 to $16.  Analyst Pamela Bassett cited a recent lawsuit settlement and good looking drug pipeline in her upgrade.

Patriot Coal (PCX) shares are active today, gaining 10% on speculation of buyout interest from Massey Energy (MEE).

Among losers, weight loss firm Nutrisystem (NTRI) is down about 15% after giving quarterly guidance of 12cents versus the 54cents expected by Wall Street.

Copyright 2010 AlphaNinja

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