Friday is finally here.Â We have some real duds this morning that are going to be glad to have this week behind them based upon their news moves.Â We have provided the price move, the volume, and added color and relevant data around the news summaries for each.
AP Pharma Inc. (NASDAQ: APPA) is getting crushed after the FDA complete response letters has denied approval of the AP Pharma prevention of both acute and delayed onset chemotherapy-induced nausea drug. At 8:45 AM EST we have shares down 55% at $0.92 on 1.1+ million shares.Â Average volume is only about 569,000 shares and the 52-week range is $0.38 to $2.16.Â Yesterdayâs market cap was $81 million, so we are just under $40 million now.
Palm Inc. (NASDAQ: PALM) is looking uglier than a hat full of fingers.Â The earnings miss was not helped at all by a revenue beat.Â Shipments were up but sell-throughs are soft and the company is going to be short of estimates again.Â At 8:45 AM EST we have shares down 18% at $4.62 and the pre-market volume is 4.3 million shares.Â Call this one a 52-week low.
Baidu, Inc. (NASDAQ: BIDU) is up again ahead of what is expected to be a Google Inc. (NASDAQ: GOOG)Â announcement Monday about the search engineâs plans for China.Â Fox reported that this annnouncement will be an exit. The verdict is inâ¦ either way, Google has a severely damaged brand in China that will only lead to more business for Baidu.Â Baidu is up 2.3% at $577.88 on just over 50,000 shares and Google is down 0.9% at $561.30 on about 35,000 shares (8:45 AM EST).
Netlist Inc. (NASDAQ: NLST) is lower this morning on a capital raise.Â The company is up exponentially from lows and announced the pricing of an underwritten public secondary offering of 3,995,000 shares at $3.85 per share for gross proceeds of approximately $15.38 million.Â This is a higher share count than originally noted.Â Shares closed at $4.23 Thursday and the stock is down almost 8% at $3.90 this morning at 8:45 but the volume is rather thin for the move and considering the cult stock status..
SunPower Corporation (NASDAQ: SPWRA) finally reported earnings.Â The companyâs profits fell and fell short of estimates and it restated previous earnings.Â At 8:45 AM EST we have shares down 9.8% at $19.88 on 27,000 shares.
Addus HomeCare Corporation (NASDAQ: ADUS) posted lower-than-expected Q4 profits, and it was actually a loss due to the costs of the initial public offering.Â This is still a thin volume stock of a company which provides a range of social and medical services to individuals in the home. At 8:46 AM EST shares are down almost 16% at $7.49 but only on about 3,200 shares versus a 32,000 share average per day.Â The post-IPO range has been $7.52 to $9.72.
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JON C. OGG