US equities closed higher on Friday led by strong earnings from several Dow components; the Dow Index added to its 3 year high, and now peers at 13K as the next psychologically-important level. Outsized strength was primarily from energy, though Industrials traded notably higher as well; weakness in Q1 EPS Looking ahead, another busy week of earnings lay ahead. Reports will be less concentrated by sector, but GERN, the key name will be followed by such as CYTX and ATHX be watching closely for insight into regulatory initiatives and spending trends.
At the end of the week, the NASDAQ was up +1.01 (0.04%) to 2873.54. Visibility should be better with the newest government ruling but, elements of conviction continue to be the indicator of momentum initiatives … (Last week close (4/29/11) =LW)
- Advanced Cell Technology (OTC: ACTC) up $0.01 (5.52%) to $0.191 (LW $0.18);
- Aastrom (ASTM) up $0.05 (1.88%) to $2.71 (LW $2.64);
- Cytori (CYTX) up $0.17 (2.32%) to $7.51 (LW $7.59);
- NeoStem (AMEX: NBS) up $0.02 (1.02%) at $1.98 (LW $1.91);
- Neuralstem (AMEX:CUR) up $0.05 (2.87%) to $1.79 (LW $1.80);
- Osiris (OSIR) up $ 0.04 (0.57%) to $7.09 (LW $6.69); and
- StemCells (STEM) up $0.081 (10.66%) to $0.841 (LW $0.76).
- Athersys (ATHX) down – $0.02 (-0.71%) to $2.81 (LW $2.89):
- BioMimetic (BMTI) down -$0.01 (-0.07%) to $13.47 (LW $14.07);
- BioTime (AMEX: BTX) down -$0.02 (-0.28%) to $7.11 (LW $7.24);
- Geron (GERN) down -$0.05 (-1.03%) to $4.80 (LW $4.90);
- ImmunoCellar Therapeutics (OTCPK:IMUC) down -0.04 (-1.87) to $2.10 (LW $2.35);
- International Stem Cell (OTCQB:ISCO) down -$0.03 (-2.56%) to $1.14 (LW $1.14);
- Opexa (OPXA) down – $0.03 (-1.64%) $1.80 (LW $1.98);
- Pluristem (PSTI) down -$0.01 (-0.37%) to $2.69 (LW $2.92);
- ReNeuron Group (RENE.L) down -$0.23 (-4.01%) to $5.42 (LW $5.56);
- Tengion (TNGN) down -$0.02 (-0.77%) to $2.58 (LW $2.70); and
- ThermoGenesis (KOOL) down -0.04 (-1.63%) to $2.42(LW $2.26).
- Brainstorm (BCLI) flat at $0.285 (LW $0.28); and
- BioHeart (Symbol Change: BHRTE.OB) flat $0.21 (LW $0.19).
The Bottom Line: From the 4/29/11 close, the continued volatility in the markets is adjusting investors’ attitudes, as can be seen by the numbers. Declining stocks (11 to 7) slowed those advancing, a weakening indicator. I wasn’t able to illuminate last weeks numbers as I was recuperating from an extended hospital stay; to the consternation of many, I survived! The regenerative medicine universe continues to gyrate during periods of market unrest. The biggest winners of the regenerative medicine universe week were Cytori (CYTX) up $0.17 (2.32%) to $7.51; surprisingly, StemCells (STEM) up $0.081 (10.66%) to $0.841and finally Aastrom (ASTM) up $0.05 (1.88%) to $2.71. The biggest event for the sector was the Stem Cell Ban being overturned causing Stem Cells stock to jump; but, I did not see many new heights. The federal government can pay for research using human embryonic stem cells, an appeals court ruled. A Washington DC district judge had issues an injunction halting the funding in 2010. The appeals court ruled 2-1 that the NIH reasonably concluded that a 1996 law restricting funding for research where an embryo is destroyed does not prohibit stem cell research. The Obama administration reversed a Bush administration ban on federal funding for new stem cell research. For this market, borrow blood pressure pills; I have lots … Now for the coming market, maybe the lorazepam might work! Also, thank you, DR’s Bill Goodman and Vic DeSai – (my friends) JV- referred to by all as the bride, JK ,Mike L (visiting from FL), TC and 4 others for words of support.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.