PennyTrader.com Presents Today’s Midday Stock Report: SNPK, BFLX, CBAK
The major averages are off their worst levels, but still hold losses of close to 1.0%. The S&P 500 is now the worst performer among the major indices, trading down 1.2%.
Molina Healthcare (MOH 26.36, -8.65) is down 24.7% after the company was informed it was not selected to participate in the Ohio Medicaid Managed Care Plan Request for Applications. The company’s contract with the state will expire without renewal at the end of 2012. Meanwhile, Centene (CNC 43.81, -6.99) is lower by 13.8% on similar news.
SNPK - Trade Alert
Up 21.24% in morning trading to $1.37 with 8M shares traded
Sunpeaks Ventures, Inc. and its wholly owned subsidiary Healthcare Distribution Specialists, LLC (”HDS”), is a nationally focused, value-added distributor of specialty drugs and over-the-counter (”OTC”) branded multivitamins to the healthcare provider market. HDS also owns and markets Clotamin®, a specialized over-the-counter multivitamin product designed exclusively for use by patients also on Warfarin®, a popular blood thinner that has a long list of known adverse drug and food interactions. Sunpeaks Ventures, Inc. (OTCBB: SNPK) (PINKSHEETS: SNPK) and its wholly owned subsidiary Healthcare Distribution Specialists, LLC (”HDS“) announced Friday that HDS has entered into a sponsorship agreement (”Agreement”) with a major pro sports team (”Team”) for the marketing of Clotamin, including advertising, media, and promotional elements. The Agreement is part of new marketing initiatives to launch Clotamin in 79 Walgreens stores in Oregon and southern Washington.
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BFLX – Volume Alert
Up 23.24% in morning trading to $.0419 with 1.5M shares traded
Bioflamex Corporation is a company focused on the development, production and marketing of its proprietary “clean tech” and advanced high performance fire-prevention and -fighting products and systems. Bioflamex Corp. (OTC.BB: BFLX) announced last week that it has closed a bridge financing agreement, which is scheduled to be funded this coming week.
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CBAK – News Alert
Up 8.48% in morning trading to $1.1499 with 450K shares traded
China BAK Battery, Inc. is a leading global manufacturer of lithium-based battery cells. The Company produces battery cells that are the principal component of rechargeable batteries commonly used in cellular phones, smartphones, notebook computers, e-bikes, electric vehicles, power tools, uninterruptible power supplies, and portable consumer electronics such as portable media players, portable gaming devices, personal digital assistants, or PDAs, camcorders, digital cameras, and Bluetooth headsets. China BAK Battery, Inc.’s production facilities, located in Shenzhen and Tianjin, PRC, cover over three million square feet. China BAK Battery, Inc. (Nasdaq: CBAK) today announced that on April 9, 2012, the Company entered into a new contract to supply high-power batteries to Chery Automobile Co., Ltd. (”Chery”).
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