PennyTrader.com Presents Today’s Midday Stock Report: GEAR, CUBV, KERX
Choppy action and a recent flurry of selling have both the Dow and S&P 500 trading with modest gains. The Nasdaq actually fell into negative territory, but it is now back in positive territory with a narrow gain.
Although the Financial sector is up 0.3%, shares of diversified financial services giant JPMorgan Chase (JPM 33.05, -0.44) is under marked pressure this morning. The firm is a featured presenter at the Deutsche Bank Financial Services Conference today. At that conference JPM representatives stated that the firm has suspended its share repurchase program, but that it intends to maintain its dividend.
GEAR - Trade Alert
Up 89.66% in morning trading to $.044 with 16M shares traded
Gear International, Inc. was originally incorporated in 1996. The company’s strategically focused on gold and silver mining, providing financing for gold and silver mining projects, and precious metals processing and refining. Gear International, Inc. (GEAR.PK) yesterday released financial statements demonstrating significant improvement in asset value and cash on balance from 2010 to the current fiscal year. Complemented by a series of asset acquisitions and joint venture agreements on several mining claims, the underlying company financials suggest a fundamental enhancement of shareholder value could soon be realized. GEAR has added 5 mining claims and improved its cash reserves. Additionally, GEAR management is anticipating a market correction in the value of the company’s stock after successfully eliminating a hostile shareholder from the float.
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CUBV – News Alert
Up 26.67% in morning trading to $.19 with 500K shares traded
Cuba Beverage Company is at the forefront of creating a unique category for Herbal Energy Juices in the global energy beverage market. Developed over the past four years with leading industry scientists, CUBA Herbal Energy Juice® is the first ready-to-drink beverage by Cuba Beverage Company that offers a healthy, natural alternative to conventional energy drinks. Cuba Beverage Company (CUBV.PK) announced today that it has executed a distribution agreement with Hom’s Enterprise to bring its line of CUBA Herbal Energy Juice® to China. The distributor has forecasted approximately 20,000 cases of Cuba products will be sold in Mainland China this year, which is valued to add US$360,000 in sales to Cuba Beverage in 2012.
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KERX – News Alert
Up 16.82% in morning trading to $1.799 with 1.5M shares traded
Keryx Biopharmaceuticals is focused on the acquisition, development and commercialization of medically important pharmaceutical products for the treatment of renal disease. Keryx is developing Zerenex (ferric citrate), an oral, ferric iron-based compound that has the capacity to bind to phosphate and form non-absorbable complexes. The Phase 3 clinical program of Zerenex for the treatment of hyperphosphatemia (elevated phosphate levels) in patients with end-stage renal disease is being conducted pursuant to a Special Protocol Assessment (SPA) agreement with the FDA. Keryx is headquartered in New York City. Keryx Biopharmaceuticals, Inc. (KERX) today announced that an abstract highlighting the dose related increases in iron storage parameters as observed in prior clinical trials of Zerenex™ (ferric citrate), has been accepted for poster presentation at the upcoming 49th ERA-EDTA (European Renal Association – European Dialysis and Transplant Association) Congress, taking place May 24-27, 2012, in Paris, France.
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