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  • Hot Stocks to Watch on Tuesday - 08/24/2010 - PAR, EPCT, IDI, CVO, HPQ, DELL

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    Tuesday Aug 24, 2010, 01:01 am EST
     
    Stocks to Watch on Tuesday 08/24/2010 -  PAR, EPCT, IDI, CVO, HPQ, DELL
     
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    Hot Stocks to Watch Tuesday 08/24/2010  are
    PAR- 3PAR Inc.
    EPCT- EpiCept Corporation
    IDI- SearchMedia Holdings Limited
    CVO- Cenveo, Inc.


    PAR - 3PAR Inc. (NYSE:PAR)
    Dell Inc is preparing to bid higher than HP for 3PAR Inc. HP offered $24 per share which is 33% more than Dell's previous Bid of 18 per share. This has become a bidding war between world's no.1 and no.2 computer maker for a small data storage.
     
    EPCT EpiCept Corporation (NASDAQ:EPCT)
    EpiCept Corporation (EPCT) announced that it received a refusal to file letter from the U.S. FDA on the NDA for Ceplene® (histamine dihydrochloride). Ceplene® was approved in the European Union in 2008 and is co-administered with low-dose interleukin-2 (IL-2). FDA concluded that the application did not establish Ceplene’s therapeutic contribution in its combination with IL-2, and recommended that an additional confirmatory pivotal trial assessing Ceplene’s contribution and using overall survival as a primary endpoint be conducted. Epicept stock dropped almost 40% on the news on Monday.

    IDI - SearchMedia Holdings Limited (AMEX:IDI)
    SearchMedia Holdings announced on  August 20, 2010, that on analysis of its  financial statements, they found that they have to restate the financial statements for fiscal year 2007 and 2008. The Company further indicated that it estimated that revenue in 2007 and 2008 had been overstated by approximately $6 million and $25 million, respectively. Stock has dropped considerably on the News of Fraud.

    CVO- Cenveo, Inc. (NYSE:CVO)

    Cenveo Inc. Shares dropped 11% to close at $5.81 after the company announced that it would not go through with its acquisition of bankrupt National Envelope of Uniondale, N.Y. CEO Robert Burton of Cenveo said that "the debtors and the creditors' committee were requiring significantly more in cash and guarantees from Cenveo than the other bidders and seeking to saddle Cenveo with unacceptable risk that no other bidders were asked to bear.".

     

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