DNDN Dendreon completed a round trip rocketship ride, from 5 to 23 and now back to 6 (3-month-chart). Last month, promising data from one of their drugs launched the stock to the moon. Today's plummet due to the Federal Drug Administration requesting another clinical study.
Elsewhere, the Fed stands pat, and the market drops for about 15 seconds before rallying. TXN Texas Instruments raises its targets on gross margins. B Barnes Group up on earnings.
FLR Fluor got a $1 billion contract to do work in Saudi Arabia and trades above 102. I can only shake my head because I sold early yesterday in the 95 range. The conference call went well, and the good news from FWLT Foster Wheeler give FLR a boost.
One bullet I dodge is TM Toyota, which was down a bit on earnings. Sometimes it is mystifying why stocks move on their earnings, sometimes it is clear. Another stock I am watching is GTRC Guitar Center. GTRC was up on earnings. It has a market cap of $1.5 billion (stats).
Positions: none, all cash for now
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