Today's Closing Update: Slim Gains Boost Dow

4:11 PM, Oct 12, 2009 --

• NYSE up 35.6 (0.5%) to 7,051.16.
• DJIA up 20.9 (0.2%) to 9,886.
• S&P 500 up 4.69 (0.4%) to 1,076.
• Nasdaq down 0.1 (0.01%) to 2,139.

GLOBAL SENTIMENT

• Hang Seng down 0.93%
• Nikkei up 1.87%
• FTSE up 1.3%

UPSIDE MOVERS

(+) GOOG price target hiked at three firms.

(+) SNEN sold for $1.90 a share.

(+) AMGN gets upgrade.

(+) MRNA says UsiRNA reduces tumor growth in Vivo.

(+) BDK raises share guidance.

(+) V, MA get analyst upgrades.

DOWNSIDE MOVERS

(-) DRIV plunges as Symantec will not extend contract.

(-) DEPO quickly loses early upside; reports positive results in trial for menopausal hot flashes.

(-) KBH discloses SEC inquiry.

MARKET DIRECTION

Stock averages close narrowly mixed late in the session, having given up broad early gains. The DJIA finished up 0.2%. The S&P 500 edged up 0.4%. The tech-concentrated Nasdaq Composite ends just in the red, down less than 0.1%.

Stock averages turned narrowly mixed in afternoon trading, having given up broad early gains. Consolidation kicked in as the Dow Jones Industrial Average hit fresh highs for the year and near the 10,000 line. Tech share declines partly offset energy share gains. Tech shares found early support but eventually turned mixed. Several analysts raised their price targets on Google (GOOG). Crude oil closes up 2% at $73.27 a barrel, having hit a six-week high.

Trading was generally quiet with the bond market and the federal government closed for the Columbus Day holiday in the United States. Asia traded mixed; Europe got a boost from surprisingly upbeat results from Dutch conglomerate Philips (PHG).

Goldman Sachs upped Google's (GOOG) price target to $585 from $560 on higher earnings estimates from 2009 to 2011, MarketWatch reported. "Discussions with advertising agencies, including a dinner we hosted with senior agency executives, point to rising spending on Google since June, led by travel, clothing and home improvement advertisers," the broker said. Goldman kept Google's rating at "conviction buy."

Meanwhile, JP Morgan analysts raised their earnings per share and revenue targets for the tech giant's third quarter. Morgan's team now sees third quarter earnings per share at $5.41, compared to their prior $5.20 cents estimate. They upped their revenue target to $4.27 billion for the third quarter, compared to $4.12 billion previously.

Kaufman reportedly boosted its price target on the issue to $600 from $520 per share.

MDRNA (MRNA) gainded after the company says new in vivo data show continued progress in the advancement of the company's oncology program. The company reported that MDRNA's UsiRNAs, delivered by the its DiLA2 platform, down-regulated a previously "non-druggable" target with subsequent reductions in tumor growth in models of liver and bladder cancer via both systemic and local delivery.

Build-A-Bear Workshop (BBW) jumped on an upgrade to outperform from market perform at BMO Capital Markets.

In deal news, Sinoenergy (SNEN) says it will be bought by Skywide Capital Management for $1.90 per share.

On the downside, Digital River (DRIV) plunged. Symantec (SYMC) has notified Digital River that Symantec will not extend its existing e-commerce agreement.

The agreement, under which Digital River provides a variety of e-commerce-related services to Symantec, expires on June 30, 2010. In 2008, sales of products for Symantec accounted for 24.3% of Digital River revenue and sales derived from proprietary Digital River services sold to Symantec consumers accounted for 9.4% of Digital River revenue.

Comments

[David White:]

SPY went up today to the $108.10 area. Then it retreated. The intra-day flag formation looked significant. It looked like it should have had more downward force. It may be that the SPY will fall tomorrow. If it continues to fall, that will effectively be a triple top. The SPY reached slightly above $108 on 9/17, 9/23, and 10/12. If it does continue to fall tomorrow, it will be well on its way to forming a triple top confirmation. Technically that should translate into a strong move to the downside.

In addition the VIX seemed to bottom today as the SPY topped. A VIX rally from the good support it has at about 23 should also help the market go down. The VIX support at 23 could turn into a quadruple bottom there. Since the VIX and the SPY generally move in opposite directions (you sometimes have to ignore the direction at the beginning of the trading day), the two different directioned movements would tend to confirm each other's direction.

All told this technical data greatly supports substantial fundamental data that indicates a down movement in the equities market should occur.

Oct 12 11:10 PM

[jimmy Turano:]

update:'MRNA' GAINED ON OCT.12, RE:IN VIVO NEWS, BUT NOW HAS RETREATED TO $1.33 AT THE OPENING ON OCT.19TH..
IT IS IN MY OPINION, AFTER FOLLOWING NASTECH FOR 25 YEARS, AND NOW 'MRNA', THAT MRNA IS MORE LIKELY TO
GO DOWN IN STOCK PRICE ABOUT 25% BEFORE YEAR END.
I HAVE BEEN THE ACCURATE POSTER ON SEEKINGALPHA RE:MRNA/NSTK FOR THE LAST 5 YEARS AND ALSO ON OTHER WELL KNOWN INVESTMENT SITES. NUMBERS HAVE TO MAKE SENSE, STATS, EXPENSES, AND EARNINGS REVENUE ARE A VERY BIG PART OF THE OVERALL PICTURE. AND THIS IS WHY I SEE A BEARISH TREND BEFORE YEAR END AND EVEN CARRIED THROUGH UNTIL SPRING OF NEXT YEAR TOO.
HEADED BACK UNDER $1 DOLLAR AGAIN, IN MY OPINION!

Oct 19 09:28 AM

[jimmy Turano:]

'MRNA' NOW $1.07 BEFORE OPENING TODAY, NOV.9TH,2009
FINANCIAL BLOG-WHERE WILL THE COMPANY ATTAIN THE FINANCES TO CONTINUE TO EXIST FOR ALL OF 2010?
NEGATIVES FAR OUTWEIGH THE POSITIVES IN MANY WAYS!
AND EVEN THOUGH THE QTLY REPORT WILL SHOW A LOSS ON NOV.12TH, LISTEN TO CONFERENCE CALL.
YOU WILL HEAR A REAL ORATOR, A PERFORMANCE BY THE CEO TO EARN HIS PAY IN EVERY WAY.
BOTTOM LINE: WHILE STOCK PRICE IS LOW AND SO MANY IN VIVO REPORTS THAT WERE POSITIVE ALL THROUGH 2009, HOW COME INSIDERS DIDN'T BUY UP ANY SHARES?
HOW MANY TIMES MUST MANAGEMENT DODGE THE BULLETS AND COME UP WITH THE MONEY NEEDED TO CONTINUE TO EXIST?

Nov 09 09:21 AM

[jimmy Turano:]

UPDATE:NOV.11TH-RE:'MR... MY CURRENT OPINION HAS BEEN SELECTED TO BE ON TODAYS FRONT PAGE OF
MEDICAL NEWS ADMINISTRATION. SOMETIMES THE LITTLE GUY GETS TO BE HEARD!
www.medicalnewstoday.c...

Nov 11 10:25 AM

[jimmy Turano:]

update:'MRNA'`11/13/09... REPORT, COMPANY BEAT CONSENSUS BY TWO CENTS? STILL $-.17 CENTS FOR QTR.
SIGNIFICANT? SPEACH BY CEO RE:CONFERENCE CALL-
THIS IS HOW THEY EARN THEIR MONEY, AND DAY AFTER,
A NEWS RELEASE, REGARDING A LETTER FROM NASDAQ.
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On November 6, 2009, the Company received a Staff Deficiency Letter from The Nasdaq Stock Market ("Nasdaq") notifying the Company that for the 10 consecutive trading days ending on November 5, 2009, the aggregate market value of the Company's common stock was below the $50,000,000 minimum market value required for continued listing on the Nasdaq Global Market, as specified by Marketplace Rule 5450(b)(2).
In accordance with Marketplace Rule 5810(c)(3)(C), the Company has 90 calendar days, or until February 4, 2010, to regain compliance with the minimum market value requirement. To regain compliance, the closing market value of the Company's common stock must equal or exceed $50,000,000 for a minimum of 10 consecutive business days or for such longer period that Nasdaq may, in its discretion, require.
If the Company does not regain compliance with the minimum market value requirement by February 4, 2010, Nasdaq will provide the Company written notification that its common stock will be subject to delisting. At that time, the Company may appeal Nasdaq's determination to a Nasdaq Listings Qualifications Panel.
The Staff Deficiency Letter has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Global Market.
A copy of the press release dated November 12, 2009 announcing receipt of the Staff Deficiency Letter is attached hereto as Exhibit 99.2 and incorporated herein by reference.
WAS THIS DISCUSSED YESTERDAY AT ALL?
DID THEY DISCUSS THE EXPENSE MONEY FOR 2010 AT ALL?
OUT OF SIGHT OUT OF MIND!
IN MY OPINION, THE STOCK CONTINUES ITS 'SOUTH' DIRECTION FROM $1 DOLLAR. TOO MANY NEGATIVES,
TOO EARLY OF A PRE-CLINICAL STAGE COMPANY, AND NO SERIOUS EARNINGS REVENUES WITH EPS GROWTH.
TIMBER!!!!!!!!!!!!!!!!...

Nov 13 10:10 AM