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  • Hot Stocks to watch Today | AVII | VVUS | BP | VRNM |

    Thursday July 15th, 2010, 11:16 pm EST

    Stocks in Focus Friday 07/16/2010 -  AVII, VVUS, BP, VRNM

    Dear Traders,

    Hot stocks to watch on Friday 07/16/2010  are
    AVII - AVI BioPharma, Inc.
    VVUS - VIVUS, Inc.
    BP - BP plc (ADR)
    VRNM - Verenium Corporation

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    AVII - AVI BioPharma, Inc.(NASDAQ:AVII)
    Bothell, Washington-based AVI BioPharma Inc (AVII) announced that  it obtained a contract for funding up to $291 million, for the development of treatments for the Ebola and Marburg viruses. The Ebola virus is associated with various outbreaks of hemorrhagic fever in central Africa, with mortality rates reaching 90% which has no cure at present. Shares of AVII gained 34% in After-hours. $80 million will be available immediately with the possibility of further funding, up to $291 million.

    The weight loss pill Qnexa which is targeted to chronically obese people was rejected by FDA advisory panel on Thursday saying that there is not enough data to send it forward for approval. If it had been approved it would have been the first weight loss pill in a decade approved by the FDA. Shares plunged 56% in After hours trading. Vivus CEO Leland Wilson pointed out that the panel only makes recommendations, and  that he is still hopeful that the FDA will approve the drug. The decision is expected to come by Oct, 28th.

    BP - BP plc (ADR) (NYSE:BP)
    BP shares gained late on Thursday after the oil giant said oil has stopped leaking out of a broken well into the Gulf of Mexico after testing a new cap placed on top of it. BP's shares closed up 7.6% at $38.92, highest level since June 4. The stock is starting to price in the fact that they will be able to get this leak stopped. They are just a little ahead of schedule with that. But there is a massive cleanup to do before we can say everything is normal. 

    VRNM - Verenium Corporation (NASDAQ:VRNM)
    Shares of Verenium (VRNM), an industrial enzyme maker, spiked upto 80% after BP announced that they will buy its cellulosic biofuels business for $98.3 million. As per deal, BP will acquire Verenium facilities in Louisiana and California, and rights to its cellulosic biofuels and enzyme technology. Shares of VRNM came down and ended the day with 30% gains. The current market cap of Verenium is $39.29 million while the deal will pay them $98.3 million. Shares of VRNM are expected to rise once again Friday. Keep it in your watchlist.

    Work Smart Today to Enjoy your Tomorrow.

    God Bless,
    Be Rich.

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