Market volatility and uncertainty riveted the market place yesterday, and for that matter the past few weeks, which caused investors heart stopping and panic throughout the day. This morning the Fed lowered its over night interest rate a half point to 5.75, down from 6.25 percent.
In pre-market activity investors were looking to capitalize on this fairly generous news by the Fed, which caused the Dow to jump 315.48 points higher in opening minutes on Friday. Both the Nasdaq composite and the Standard and Poor’s 500 are up 72.10 and 37.32 points respectively. Although this is outstanding news, considering yesterday’s dramatic volatility, who knows what could happen by the end of the trading day.
In early microcap trading today, Concurrent (Nasdaq: CCUR), a leader in on-demand technology and real-time computing technology, announced its results for the fourth quarter and fiscal year ended June 30, 2007. This helped drive the company’s share price higher to $1.46, or 8 percent, up 11 cents on 220,268 volume.
American International Industries Inc. (OTCBB: AMIN) announced this morning that the company would commence trading on the Nasdaq Capital Market under its current symbol. The company recently completed its final steps in order to gain the approval of Nasdaq to begin its trading on Tuesday, August 21, 2007.
Share price for American International rose $1.50, or 38 percent, to $5.50 in early morning trading. American International is a holding company that currently has holdings in Industry, Finance, Real Estate in Houston, Texas and surround areas, and Oil and Gas.
EpiCept Corporation (Nasdaq: EPCT) today reported on new technical advancements for Azixa, a vascular disrupting agent licensed by the company to Myraid Genetics Inc. Myraid announced yesterday that it has initiated a third Phase II clinical trail for Azixa in patients with non-smell lung cancer that has spread to the brain.
“We are pleased at the clinical advancement Myriad has reported on Azixa, and view it as further evidence of the commercial potential of the compound,” said Jack Talley, president and CEO of EPCT, in a statement. “We believe that the study of Azixa in this new indication affords EpiCept with an expanded opportunity to capitalize on the financial benefits associated with our agreement with Myriad, including milestone payments, sublicensing income and potentially future royalties if Azixa continues to progress successfully.”
Positive news surrounding pharmaceutical companies generally impacts share price in a good way, and EpiCept’s share price rose 8 cents, or 5 percent, to $1.61 this morning in early trading.
