Daily Penny Stock Gainers: CBIS, ELTP, FEEC
Selling pressure has picked up in recent trade, resulting in a loss for both the S&P 500 and the Nasdaq after each had traded with a solid gain in the early going. The Dow is at a session low, but it has managed to remain in positive territory with help from 3M (MMM 87.40, +0.92) and Caterpillar (CAT 112.67, +3.62), both of which bested expectations for the bottom line of their latest quarterly reports. However, their strength is being partly offset by weakness in AT&T (T 29.47, -0.74), which posted earnings that came short of the consensus estimate.
CBIS – Trade Alert
Up 14.71% in morning trading to $.05 with 5M shares traded
Cannabis Science, Inc. is at the forefront of pharmaceutical grade medical marijuana research and development. The second formulations will address the needs of patients choosing to use concentrated cannabis extracts to treat their ailments. Cannabis Science, Inc. (OTCBB: CBIS) yesterday inform that the current progress and success with their numerous self-medicated cancer patients, has lead the Company to immediately begin the Investigational New Drug (IND) application process that will target cancer treatment.
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ELTP - News Alert
Up 14.50% in morning trading to $.12 with 4M shares traded
Elite Pharmaceuticals, Inc. develops oral sustained and controlled release products. Elite’s strategy includes assisting partner companies in the life cycle management of products, to improve off-patent drug products, and developing generic versions of controlled release drug products with high barriers to entry. Elite Pharmaceuticals, Inc. (”Elite”) (OTCBB:ELTP) announced today that on January 23, 2012, the U.S. Food and Drug Administration approved the Company’s supplemental application for the manufacturing and packaging of Hydromorphone Hydrochloride USP 8 mg.
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FEEC - News Alert
Up 12.21% in morning trading to $.339 with 650K shares traded
Based in Houston, Texas, with offices in Beijing, Kunming, and Taiyuan City, China, Far East Energy Corporation is focused on coalbed methane exploration and development in China. Far East Energy Corporation (OTCBB:FEEC) today announced positive test results from three more appraisal wells located at significant distances from the 1H Pilot Area in the Company’s Shouyang Block, continuing a series of successful appraisal wells that have revealed much of the block to be highly prospective.
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