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PRE-OPEN STOCK WATCH
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S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +6.40. Stocks fell sharply in last week's final session, but an improved mood among morning traders has helped to prop up stock futures in the face of ongoing unrest in Egypt.
Perceived political risk in Egypt prompted analysts at Moody's cut the country's debt rating to Ba2 from Ba1. Egypt's EGX 30 remained closed on Monday due to chaotic conditions there; it hasn't been opened since last Thursday, when it plummeted more than 10%.
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PSTI - Leads the Member Mails as the stock made such a big run for us and then took a drop back to the low $3's.... Most feel the company is still a bargain going forward... We are keeping it on the news watch.
TEL AVIV, Jan 27 (Reuters) - Pluristem Therapeutics (
PSTI.O) intends to raise $35.8 million in its secondary offering on Nasdaq to fund advanced clinical trials, the Israeli stem cell therapy company said on Thursday.
Its shares were down 25 percent on the news to $3.15.
Pluristem said it has priced 11 million units at $3.25 each, with each unit consisting of one share and one warrant to purchase 0.4 of a share.
The offering is expected to close on or about Feb. 1.
Each warrant will be exercisable for five years at a price of $4.20. The company granted underwriters a 30-day option to buy up to 1.65 million shares and warrants to purchase up to 660,000 shares of common stock to cover over-allotments, if any.
GE - Contiues to be very popular as it has climbed to new recent highs...
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DEPO - NEWS ALERT
DEPO - BREAKING $8 PRE-OPEN
MENLO PARK, Calif., Jan. 28, 2011 (GLOBE NEWSWIRE) -- Depomed, Inc. (Nasdaq:DEPO - News) today announced that US FDA has approved GRALISE(TM) (gabapentin) Tablets for once-daily treatment of post-herpetic neuralgia (PHN), which is pain following healing of the rash associated with shingles.
GRALISE was developed by Depomed under the code name DM-1796 and is licensed to Abbott Products, Inc. in the U.S., Canada and Mexico.
The approval of GRALISE triggers a milestone payment of $48 million from Abbott to Depomed.
"The approval of GRALISE is a major step toward achieving our key strategic objective of sustainable profitability in 2011 and beyond," said Carl Pelzel, President and CEO of Depomed. "I'd like to thank everyone on the Depomed and Abbott teams involved in the development and approval of this important therapy for their hard work and dedication," added Mr. Pelzel.
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NPSP - NEWS ALERT
NPSP - BREAKING $9.50
BEDMINSTER, N.J.--(BUSINESS WIRE)-- NPS Pharmaceuticals, Inc. (NASDAQ:NPSP - News), a specialty pharmaceutical company developing innovative therapeutics for rare gastrointestinal and endocrine disorders, today announced that its Phase 3 pivotal study of GATTEX
