PennyTrader.com Presents Today’s Midday Stock Report: UBRG, GSAT, ALXA
The major market averages hold near session lows, unable to sustain any attempt at a rally. The Nasdaq paces today’s decline with a loss of 1.7% while the Dow outperforms with a 1.3% loss.
Health care stocks are under pressure this morning as markets await the outcome of the Supreme Court’s ruling on Obamacare. The Supreme Court will issue its last opinions of the term on June 28, meaning an announcement will occur in the next couple of days. Athena Healthcare (ATHN 78.21, -0.85), Accretive Health (AH 11.65, -0.27), and CVS Caremark (CVS 45.14, -0.76) are all in play on the decision.
UBRG – Trade Alert
Up 20.88% in morning trading to $.011 with 6M shares traded
Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, petroleum, coal, propane and refined petroleum energy products. They market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. They are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. Universal Bioenergy Inc., (UBRG) announced it is forecasting strong consolidated earnings of $11 million to $17 million for the Company in the next 12 to 18 months from its natural gas, gas storage profit centers and its coal mining division.
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GSAT - News Alert
Up 27.07% in morning trading to $.3154 with 900K shares traded
Globalstar is a leading provider of mobile satellite voice and data services. Globalstar offers these services to commercial and recreational users in more than 120 countries around the world. The Company’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. Global customer segments include: oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness, and business continuity as well as individual recreational users. Globalstar data solutions are ideal for various asset and personal tracking, data monitoring and SCADA applications. Globalstar, Inc. announced that it has reached a settlement of its prior disputes with Thales Alenia Space France (”Thales”) and has agreed to the terms of a commercial proposal for the purchase of six additional spacecraft from Thales.
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ALXA – Volume Alert
Up 13.35% in morning trading to $4.50 with 2M shares traded
Alexza is a pharmaceutical company focused on the research, development and commercialization of novel, proprietary products for the acute treatment of central nervous system conditions. Alexza’s technology, the Staccato® system, vaporizes unformulated drug to form a condensation aerosol that, when inhaled, allows for rapid systemic drug delivery through deep lung inhalation. With the Staccato system, a drug is quickly absorbed through the lungs into the bloodstream, providing speed of therapeutic onset that is comparable to intravenous administration, but with greater ease, patient comfort and convenience. Alexza Pharmaceuticals, Inc. (ALXA) announced Friday that it has resubmitted its ADASUVE New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) in response to a Complete Response Letter (CRL) received in May 2012.
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