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Intercept Pharmaceuticals: Phase III trial update
Intercept Pharmaceuticals (NASDAQ: ICPT) announced hat its liver disease drug obeticholic acid (OCA) for primary biliary cirrhosis has been successful in its POISE phase III clinical trial. The drug treats a disease in which bile ducts in the liver become damaged, allowing harmful substances to build up and scar the liver tissue.
“These POISE trial results indicate that OCA clearly produced clinically meaningful improvements, not only in the primary endpoint but also across a broad range of biochemical liver function parameters,” said Professor Frederik Nevens, M.D. Ph.D., Chairman of the Department of Hepatology at the University of Leuven, Belgium and the lead investigator in POISE. “While ursodiol has been the mainstay of PBC therapy for the past 20 years, a significant proportion of patients fail to get an adequate response with this drug and we need new therapies to prevent their disease progressing to cirrhosis and liver failure. I believe that the POISE data indicate OCA will provide a meaningful clinical improvement in these patients.”
Keurig Green Mountain: Welcome to the S&P 500
Keurig Green Mountain (NASDAQ: GMCR) will replace WPX Energy in the S&P 500 index as of March 21.
JA Solar Holdings: Investors bullish following earnings
This morning, JA Solar Holdings (NASDAQ: JASO) reported its fourth quarter results. The company announced an EPS of $0.16, beating the consensus estimate of $0.01. Revenue of $357.3 million beat the consensus estimate of $291.82 million.
Net income for the quarter grew to RMB 139.5 million ($23.0 million) from a net loss of RMB 227.0 million ($37.5 million) in the previous quarter. Gross margin improved to 15.5 percent from 11.3 percent in the previous quarter as the company continues to perform well in all key regions in China.
The company plans to build out its position in markets across Asia, Europe and North America and will explore opportunities in Latin America and the Middle East.
Sina: Weibo IPO a green light
It was previously reported that Sina (NASDAQ: SINA) would launch a Weibo IPO. Investors are waking up to news that the Chinese micro-blogging service has failed to raise $500 million in an IPO in the U.S.
Weibo warned investors over uncertainty issues stemming from strict Chinese government regulation, particularly a law in which Internet users who knowingly share information considered to be defamatory could face jail time in China.
“The implementation of this newly promulgated judicial interpretation may have a significant and adverse effect on the traffic of our platform and discourage the creation of user generated content,” the company said in its filing.
The government places companies like Weibo in charge of monitoring their own platform to ensure compliance with local laws and regulations.
The government “may require us to limit or eliminate the dissemination of such information on our platform. Failure to do so may subject us to liabilities and penalties and may even result in the temporary blockage or complete shutdown of our online operations,” Weibo said.
Yahoo!: The IPO investors have been waiting for
Alibaba has confirmed that it plans to raise around $15 billion in an IPO offering in New York to become a “more global” and transparent company. The company’s IPO will very likely be the largest raising ever by a Chinese company on the American markets.
For those investors not familiar with the Chinese company, The Wall Street Journal described the e-commerce giant as being“ a mix of Amazon, eBay and PayPal with a dash of Google.”
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