Five ex-employees of Bernard Madoff, on trial accused of aiding his $17 billion fraud, will seek to “embarrass” Securities and Exchange Commission witnesses by asking about bungled Madoff audits, prosecutors contend.
The questions, to be asked on cross-examination, should be barred because the SEC employees who will testify began probing only after Mr. Madoff's arrest on Dec. 11, 2008, and weren't involved in earlier reviews that failed to uncover the Ponzi scheme, prosecutor Randall Jackson said Nov. 4 at a hearing.
The proposed questioning is “pure harassment designed to attempt to embarrass either the SEC or particular witnesses,” another prosecutor, Matthew Schwartz, said in a court filing. “The defendants should not be permitted to turn the trial into a referendum on the investigatory practices of the SEC.”
Best China Stocks To Invest In 2015: Twitter (TWTR)
Instantly connect to what's most important to you. Follow your friends, experts, favorite celebrities, and breaking news. TechCrunch is a leading technology media property, dedicated to obsessively profiling startups, reviewing new Internet products, and breaking ... Advisors' Opinion:- [By Rich Bieglmeier]
[Related -Twitter Inc (TWTR): Should You Buy It?]
Despite cost of revenue and general and administrative expenses outrunning sales, had management been able to keep the pair in-line with revenue growth, it would have only added $0.13 to the bottom-line; although, a $0.16 bullish surprise would have looked better than $0.03 surprise reported.
- [By Benjamin Pimentel]
Shares of Twitter (TWTR) �were also up 4.4% to close at $60.01. Apple Inc. (AAPL) � gained 1% to close at $549.02, giving the Nasdaq Composite Index (COMP) �a lift. The benchmark rose 1.2% to close at 4,105 on Friday, and ended the week with a 2.6% gain. Apple also posted its first stock gain in four days.
Best Heal Care Stocks To Own Right Now: PacWest Bancorp(PACW)
PacWest Bancorp operates as the bank holding company for Pacific Western Bank that provides commercial banking products and services to small to medium size businesses, the owners and employees of those businesses, and households primarily in Southern California. It accepts time, money market, and demand deposits; originates loans, including commercial, real estate construction, SBA guaranteed, and consumer loans; and provides other business-oriented products. The company also provides asset-based lending and factoring of accounts receivable to small businesses located in Arizona, California, and the Pacific Northwest. In addition, it offers international banking, multi-state deposit, and investment services; telephone and online banking services; and foreign exchange services, as well as issues automated teller machine and debit cards. Further, the company, through its subsidiary, BFI Business Finance, and its division First Community Financial, provides working capital f inancing to growing companies primarily located in the states of Arizona, California, and Texas. As of July 18, 2011, it operated through 77 full-service community banking branches in Los Angeles, Orange, Riverside, San Bernardino, Santa Barbara, San Diego, San Francisco, San Luis Obispo, San Mateo, and Ventura Counties in California; and Maricopa County in Arizona. The company was formerly known as First Community Bancorp and changed its name to PacWest Bancorp in April 2008. PacWest Bancorp was founded in 1999 and is based in Los Angeles, California.
Advisors' Opinion:- [By Eric Volkman]
CapitalSource (NYSE: CSE ) and PacWest Bancorp (NASDAQ: PACW ) are soon to be one and the same. The two companies have agreed to merge, both announced in a joint press release. CapitalSource investors will receive a cash payout of $2.47 and 0.2837 shares of PacWest common stock for each CapitalSource share they hold. This values the latter's stock at $11.68 per share, a nearly 19% premium to its most recent closing price. The total transaction value is estimated at roughly $2.3 billion.
Best Heal Care Stocks To Own Right Now: MagnaChip Semiconductor Corporation (MX)
MagnaChip Semiconductor Corporation designs and manufactures analog and mixed-signal semiconductor products for high-volume consumer applications. It operates in three segments: Display Solutions, Power Solutions, and Semiconductor Manufacturing Services. The Display Solutions segment offers source and gate drivers, and timing controllers that cover a range of flat panel displays used in liquid crystal displays (LCDs), light emitting diodes (LEDs), 3D and organic light emitting diode televisions and displays, notebooks, and mobile communications and entertainment devices. The Power Solutions segment develop, manufactures, and markets power management solutions, including metal oxide semiconductor field effect transistors, power modules, analog switches, LED drivers, DC-DC converters, voice coil motor drivers, and linear regulators. This segment offers its products for a range of devices, including LCD, LED, 3D televisions, smartphones, mobile phones, desktop PCs, notebooks , tablet PCs, and other consumer electronics, as well as for industrial applications, such as power suppliers, LED lighting, and home appliances. The Semiconductor Manufacturing Services segment manufactures various products comprising display drivers, LED drivers, audio encoding and decoding devices, microcontrollers, touch screen controllers, RF switches, park distance control sensors for automotives, electronic tag memories, and power management semiconductors. This segment offers semiconductor manufacturing services to fabless analog and mixed-signal semiconductor companies. MagnaChip Semiconductor Corporation provides its products and services to consumer electronics OEMs, subsystem designers, and contract manufacturers through a direct sales force, as well as through a network of authorized agents and distributors in the United States, Korea, Taiwan, China, Japan, Hong Kong, and Macau. The company is headquartered in Seoul, South Korea.
Advisors' Opinion:- [By Wallace Witkowski]
Shares of MagnaChip Semiconductor Corp. (MX) �fell 13% to $12.50 on moderate volume after the company said it incorrectly stated revenue and has to restate its financial statements going back to 2011. Also, the company withdrew its guidance for the fourth quarter.
- [By Brian Pacampara]
Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, consumer gadget chip maker MagnaChip Semiconductor (NYSE: MX ) has earned a coveted five-star ranking.
Best Heal Care Stocks To Own Right Now: MELA Sciences Inc(MELA)
MELA Sciences, Inc., a medical device company, focuses on the design and development of a non-invasive, point-of-care instrument to assist in the detection of early melanoma. The company?s principal product, MelaFind, features a hand-held imaging device that emits multiple wavelengths of light to capture images of suspicious pigmented skin lesions and extract data. This product uses automatic image analysis and statistical pattern recognition to help identify lesions to be considered for biopsy to rule out melanoma. It consists of hand-held imaging device, which employs high precision optics and multi-spectral illumination; database of pigmented skin lesions; and lesion classifiers, which are mathematical algorithms that extract lesion feature information and classify lesions. MELA Sciences submitted the MelaFind pre-market approval application with the U.S. Food and Drug Administration (FDA) in June 2009 and is under review at the FDA. The company was formerly known as E lectro-Optical Sciences, Inc. and changed its name MELA Sciences, Inc. in April 2010. MELA Sciences, Inc. was founded in 1989 and is based in Irvington, New York.
Advisors' Opinion:- [By Lisa Levin]
MELA Sciences (NASDAQ: MELA) shares reached a new 52-week low of $0.303 after the company approved a one-for-ten reverse stock split of the common stock.
Best Heal Care Stocks To Own Right Now: TTM Technologies Inc.(TTMI)
TTM Technologies, Inc., together with its subsidiaries, provides printed circuit board (PCB) products and backplane assemblies worldwide. Its PCB products include conventional, high density interconnect, flexible, and rigid-flex PCBs, as well as backplane assemblies and IC substrates. The company also offers various services, such as design for manufacturability support during new product introduction stages, PCB layout design, simulation and testing services, quick turnaround production, and drilling and routing services. Its customers include original equipment manufacturers and electronic manufacturing service companies that primarily serve the networking/communications, aerospace/defense, high-end computing, cell phone, and medical/industrial/instrumentation end markets of the electronics industry. TTM Technologies, Inc. was founded in 1978 and is headquartered in Santa Ana, California.
Advisors' Opinion:- [By Brian Pacampara]
What: Shares of printed circuit board specialist TTM Technologies (NASDAQ: TTMI ) soared 17% today after its quarterly results topped Wall Street expectations.
Best Heal Care Stocks To Own Right Now: Galena Biopharma Inc (GALE)
Galena Biopharma, Inc. (Galena), formerly RXi Pharmaceuticals Corporation, incorporated on April 3, 2006, is a biotechnology company focused on discovering, developing and commercializing therapies addressing unmet medical needs using targeted biotherapeutics. The Company is pursuing the development of cancer therapeutics using peptide-based immunotherapy products, including its main product candidate, NeuVaxTM (E75), for the treatment of breast cancer and other tumors. NeuVax is a peptide-based immunotherapy intended to reduce the recurrence of breast cancer in low-to-intermediate HER2-positive breast cancer patients not eligible for trastuzumab (Herceptin; Genentech/Roche). On January 19, 2012, the Company initiated enrollment in its Phase 3 PRESENT clinical trial for NeuVax (E75 peptide plus GM-CSF) vaccine in low-to-intermediate HER2 1+ and 2+ breast cancer patients in the adjuvant setting to prevent recurrence (Clinicaltrials.gov identifier NCT01479244). The Prevention of Recurrence in Early-Stage, Node-Positive Breast Cancer with Low to Intermediate HER2 Expression with NeuVax Treatment study is a randomized, multicenter, multinational clinical trial that will enroll approximately 700 breast cancer patients. The Company�� Phase 2 trial of NeuVax achieved its primary endpoint of disease-free survival (DFS). On April 13, 2011, the Company completed its acquisition of Apthera, Inc.,(Apthera).
The Company focuses to start a Phase 2 trial comparing NeuVax in combination with trastuzumab (Herceptin) versus trastuzumab, alone, in a 300-patient, randomized study in the adjuvant breast cancer setting. The Company's second product candidate, Folate Binding Protein-E39 (FBP), is a vaccine, consisting of the peptides E39 and J65, aimed at preventing the recurrence of ovarian, endometrial, and breast cancers. On February 14, 2012, the Company announced the initiation of a Phase 1/2 clinical trial in two gynecological cancers: ovarian and endometrial adenocarcinomas. Folate binding protein has ! very limited tissue distribution and expression in non-malignant tissue and is over-expressed in more than 90% of ovarian and endometrial cancers, as well as in 20% to 50% of breast, lung, colorectal and renal cell carcinomas.
In April 2011, the Company acquired Apthera Inc and its NeuVax product candidate. The Company focuses on developing a pipeline of immunotherapy product candidates for the treatment of various cancers based on the E75 peptide, the advanced of which is NeuVax, which is targeted at preventing the recurrence of breast cancer. NeuVax has had positive Phase 1/2 clinical trial results for the prevention of breast cancer recurrence in patients who have had breast cancer and received the standard of care treatment (surgery, chemotherapy, radiotherapy and hormonal therapy as indicated). The Company had also initiated its Phase 3 PRESENT clinical trial of NeuVax for the prevention of breast cancer recurrence in early-stage low-to-intermediate HER2 breast cancer patients. NeuVax directs killer T-cells to target and destroy cancer cells that express HER2/neu, a protein associated with epithelial tumors in breast, ovarian, pancreatic, colon, bladder and prostate cancers. NeuVax is comprised of a HER2/neu-derived peptide called E75. E75 is a nine-amino acid sequence that is immunogenic (produces an immune response) and GM-CSF is a commercially available protein that acts to stimulate and activate components of the immune system such as macrophages and dendritic cells.
The Company also develops novel applications for NeuVax based on preclinical studies and phases 2 clinical trials which suggest that combining NeuVax and trastuzumab (Herceptin; Genentech/Roche) can increase antigen presentation by tumor cells by promoting receptor internalization and subsequent proteosomal degradation of the HER2 protein. The Company also is pursuing additional therapeutic indications for NeuVax that are in Phase 1/2 clinical trials. RXI-109, is a dermal anti-scarring therapy that targets! connecti! ve tissue growth factor (CTGF) and that may inhibit connective tissue formation in human fibrotic disease.
The Company competes with Roche Laboratories, Inc., Pfizer Inc., Bayer HealthCare AG, Sanofi-Aventis, US, LLC, Amgen, Inc., GlaxoSmithKline plc, Renovo Group plc, CoDa Therapeutics, Inc., Sirnaomics, Inc., FirstString Research, Inc., Merz Pharmaceuticals, LLC, Capstone Therapeutics, Halscion, Inc., Garnet Bio Therapeutics, Inc., AkPharma Inc., Promedior, Inc., Kissei Pharmaceutical Co., Ltd., Eyegene, Derma Sciences, Inc., Healthpoint Biotherapeutics, Pharmaxon, Excaliard Pharmaceuticals, Inc., Alnylam Pharmaceuticals, Inc., Marina Biotech, Inc., Tacere Therapeutics, Inc., Benitec Limited, OPKO Health, Inc., Silence Therapeutics plc, Quark Pharmaceuticals, Inc., Rosetta Genomics Ltd., Lorus Therapeutics, Inc., Tekmira Pharmaceuticals Corporation, Arrowhead Research Corporation, Regulus Therapeutics Inc. and Santaris.
Advisors' Opinion:- [By Paul Ausick]
Stocks on the move: Galena Biopharma Inc. (NASDAQ: GALE) is down 15.4% at $1.93 after pricing a secondary offering of 17.5 million units at $2.00. Safeway Inc. (NYSE: SWY) is up 6.1% at $28.21, after an analyst�� upgrade which sent shares to a new 52-week high of $28.88 earlier. Avanir Pharmaceuticals Inc. (NASDAQ: AVNR) is down 18.2% at $4.08.
- [By James E. Brumley]
The last two weeks have been absolutely fantastic ones for Galena Biopharma Inc. (NASDAQ:GALE). Shares have soared from $2.37 to the current price of $3.32 - a 40% pop - rewarding investors who had been patiently waiting through late October for the runup to take hold. Congratulations if that's you. But, if that was you, then now might be a great time to take the money and run with the trade, as GALE looks poised to make a sizeable pullback. More on that in a moment.
- [By Sean Williams]
The waiting game
The tables are clearly stacked against small biotech companies developing cancer drugs. History has shown that few (if any) have successfully had the Food and Drug Administration approve a late-stage cancer drug. While mid-stage trials of Galena Biopharma's (NASDAQ: GALE ) HER2-targeting breast cancer vaccine have been promising thus far, the chances of an approval seem a long way off. - [By James E. Brumley]
It may look like little more than a choppy mess with just a quick glance at Galena Biopharma Inc. (NASDAQ:GALE). But, the more you study the chart - and the company - the more you realize there's enough long-term potential from the company's pipeline to keep spurring GALE in a generally-upward direction. In fact, the bulls look like they're on the verge of taking Galena Biopharma out of second gear and putting it into third. As such, it may not be a bad bet at this point.
Best Heal Care Stocks To Own Right Now: PDL BioPharma Inc.(PDLI)
PDL BioPharma, Inc. engages in intellectual property asset management and royalty bearing assets investment activities. The company is involved in the humanization of monoclonal antibodies and the discovery of a new generation of targeted treatments for cancer and immunologic diseases. It offers Queen et al. patents that cover humanized antibodies, methods for humanizing antibodies, polynucleotide encoding in humanized antibodies, and methods of producing humanized antibodies. The company was formerly known as Protein Design Labs, Inc. and changed its name to PDL BioPharma, Inc. in 2006. PDL BioPharma, Inc. was founded in 1986 and is headquartered in Incline Village, Nevada.
Advisors' Opinion:- [By Keith Speights]
Mayan calendar deja vu
Sky-high dividend yield? Low payout ratio? PDL BioPharma (NASDAQ: PDLI ) checks these items and more off an investor's list. The company's 7.8% yield ranks as one of the highest in the entire stock market. Its payout ratio of 41% is quite attractive. Unfortunately, PDL's situation is reminiscent of the Mayan calendar hoopla from last year. The difference with PDL is that when its calendar ends, that means it's really the end. - [By John Udovich]
Small cap patent stocks Spherix Inc (NASDAQ: SPEX), PDL BioPharma Inc (NASDAQ: PDLI) and Endeavor IP Inc (OTCBB: ENIP) are among the�growing number of publicly traded�US entities focused on collecting and making money from various types of patents. After all, monetizing patents can lead to incredible returns. For example: Nomura analyst Rick Sherlund wrote in a research note back in November that Microsoft Corporation (NASDAQ: MSFT) is generating $2 billion per year in revenue from Android patent royalties and he�estimates that this revenue has a 95% margin. However, there are risks associated with investing in stocks that invest in patents because a bi-partisan bill called the Innovation Act (H.R. 3309) is�working its way through Congress to try and reign in the activities of so-called�"patent trolls" or rather companies that buy or license patents from others.
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