Friday, March 25, 2011

Hot Stocks Of The Day: EK, BMY, HDY, CRYP, EW

Happy Trader

Shares of Eastman Kodak Co. (NYSE: EK) jumped 10.86% to to $3.47 in morning trading. A victory for Eastman Kodak Co. in its patent fight with Apple Inc. and Research in Motion Ltd. may add more than $1 billion in revenue from royalty payments, Chairman and Chief Executive Officer Antonio Perez said Thursday. Kodak “deserves to win,” Perez, 65, said in an interview in New York yesterday. A decision is scheduled for about 5 p.m. Washington time today on whether the U.S. International Trade Commission will review a judge’s findings from January that Apple’s iPhone and RIM’s BlackBerry don’t violate Kodak’s patent on an image- preview feature in camera phones. Opening a review would revive Kodak’s effort to extract compensation from Apple and RIM.

Bristol-Myers Squibb Co. (NYSE: BMY) rallied more than 2% after the U.S. Food and Drug Administration approved its injectable drug, called Yervoy, for the late-stage treatment of skin cancer. On Monday, Bristol-Myers Squibb said a Phase III clinical study showed the drug improved the overall survival in previously untreated melanoma patients.

Shares of oil and gas explorer Hyperdynamics Corp. (AMEX: HDY) slumped more than 15% after the company announced that its public offering of 25,000,000 shares of its common stock has priced at $5.00 per share for gross proceeds of approximately $125,000,000. 

CryptoLogic Limited (NASDAQ: CRYP) soared more than 29% after the company announced that its Board of Directors has appointed Deloitte Corporate Finance as financial adviser to assist it with a strategic review of the company. The company saidthat its review is at an early stage and will consider a number of strategic options, including the possibility of an offer being made for the Company or a disposal of part of the business. The Board wishes to stress that there can be no certainty that any offer will be forthcoming.

Shares of heart device maker Edwards Lifesciences Corp. (NYSE: EW) rallied more than 4% on Friday, a day after the company was added to the S&P 500 Index.

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