With traders reacting positively to the latest developments in EU, stocks moved sharply higher at the start of trading on Friday. The major averages is showing a strong move to the upside, further offsetting the sell-off that was seen on Wednesday.
Is the pain about to begin! EU economic integration is coming to an end. A new more ominous chapter is about to begin. I now believe the EU governments and the European Central Bank (ECB) do NOT have the resources to avert a default by Italy, Greece, and very likely Spain and Portugal averting focus from US equity growth!
Mid-Day: The NASDAQ is UP +51.91 (+1.91%) to 2,677.06. The Dow is UP + 271.78 (+2.29%) to 12,165.57.
Mid-Day Movers: Aastrom (ASTM), BioMimetic (NASDAQ:BMTI), BioTime (AMEX: BTX), Cytori (NASDAQ:CYTX), Dendreon (NASDAQ:DNDN), Geron (NASDAQ:GERN), Neuralstem (AMEX: CUR), Osiris (NASDAQ:OSIR), Pluristem (NASDAQ:PSTI), ReNeuron (RENE.LON) and StemCells (STEM).
What’s new in the regenerative medicine/stem cell market …
Former HHS secretary urges stem cell research commission: Speaking at a Vatican conference on stem cell research, former HHS Secretary Tommy Thompson said the Obama administration should form a presidential-level commission of business leaders to promote adult stem cell research. The White House should embrace “what we can do right now” with adult stem cells, Thompson said. http://thehill.com/blogs/healthwatch/medical-devices-and-prescription-drug-policy-/192603-former-hhs-secretary-tommy-thompson-urges-obama-to-appoint-stem-cell-commission
Opinion: Thompson backpedals on embryo stem cells: Former Wisconsin Gov. Tommy Thompson, who once supported embryonic stem cell research, has backed off that position in a speech at the Vatican. The presumptive US Senate candidate, who is Roman Catholic, spoke in favor of adult stem cells — cells that aren’t taken from embryos — while appearing to distance himself from the embryonic stem cell research he once defended. “The best ideas I’ve come across have always been the simplest ones,” prepared remarks furnished by Thompson’s spokesman said. “And frankly, I just don’t believe that man can engineer something superior to what the good Lord has already given us. The bottom line: That’s what I love about adult stem cells; we’re using the divine wisdom inside each of us to supercharge our bodies and wipe away disease. His remarks came at a conference organized by the Vatican’s Pontifical Council for Culture and the Stem for Life Foundations, based in the United States, which promotes adult stem cell research.
FDA Approves First Cord Blood Product: HEMACORD, the 1st licensed hematopoietic progenitor cells-cord (HPC-C) cell therapy. HEMACORD is indicated for use in hematopoietic stem cell transplantation procedures in patients with disorders affecting the hematopoietic (blood forming) system. Cord blood transplants have been used to treat patients with certain blood cancers and some inherited metabolic and immune system disorders. The bottom line: Cord blood is 1 of 3 sources of HPCs used in transplants; the other two are bone marrow and peripheral blood. Once these HPCs are infused into patients, the cells migrate to the bone marrow where they divide and mature. When the mature cells move into the bloodstream they can partially or fully restore the number and function of many blood cells, including immune function.
NeoStem (Amex: NBS) Q3/11 Results: Net losses attributable to controlling interests were $7.5M, or $0.08 per share (including $1.5M of non-cash equity-based compensation and $2.2M of depreciation and amortization.