Hot Stocks Of The Day: YRCWD, TSTR, KWK, PPHM, ISTA
Monday, October 18, 2021 11:36 AM

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US stocks rose on Monday as better-than-expected third-quarter earnings from Citigroup lifted investor sentiment.

Below we highlight few companies whose shares are actively trading in Monday's session.

YRC Worldwide, Inc. (NASDAQ: YRCWD) jumped more than 10% after the trucking company said that it expects third quarter 2010 positive adjusted EBITDA within a range of $42 million to $46 million. For the second and third quarters of 2010, the company expects cumulative adjusted EBITDA within a range of $82 million to $86 million, which exceeds the $50 million covenant level required by its credit agreement. The company expects a third quarter 2010 operating loss within a range of $18 million to $22 million. As a comparison, the company reported an operating loss of approximately $35 million for the second quarter of 2010 when excluding an $83 million non-cash benefit from an adjustment to the fair value of the March 2010 union employee equity award. For the third quarter of 2010, tonnage per day for YRC National and YRC Regional was 1.2% and 2.1%, respectively, higher than the tonnage per day for the second quarter of 2010. Revenue per shipment during the third quarter of 2010 for YRC National and YRC Regional was 1.9% and 3.7%, respectively, higher than the third quarter of 2009. At September 30, 2010, the company's estimated cash and cash equivalents were $115 million, restricted revolver reserves were $123 million, and unrestricted availability was $46 million, for a total of $284 million. During the third quarter of 2010 the company repaid $25 million of outstanding borrowings on its asset-backed securitization facility.

TerreStar Corp. (NASDAQ: TSTR) sank more than 50% after The Wall Street Journal Street reported that the company is preparing a possible filing for bankruptcy protection.

Quicksilver Resources Inc. (NYSE: KWK) soared more than 17% after the company announced that its Board of Directors has received a letter from Quicksilver Energy, L.P., an entity controlled by members of the Darden family, indicating that a group of investors consisting of Quicksilver Energy, L.P. and members of the Darden family is interested in exploring strategic alternatives for Quicksilver Resources Inc. The Investor Group is requesting an amendment to Quicksilver Resources Inc.'s rights plan in order to facilitate discussions between the Investor Group and other potential investors regarding a potential transaction.

Peregrine Pharmaceuticals, Inc. (NASDAQ: PPHM) on Monday reported interim data from an ongoing Phase II clinical trial of its novel brain cancer therapy Cotara. The company said that interim median overall survival was 86 weeks for a cohort of 14 patients with glioblastoma multiforme treated at first relapse with a single infusion of Cotara. Cotara is a targeted monoclonal antibody linked to a radioisotope that is administered directly into the tumor, destroying the tumor from the inside out, with minimal exposure to healthy tissue. Shares of the biopharmaceutical company surged more than 16% in mid-day trading.

ISTA Pharmaceuticals, Inc. (NASDAQ: ISTA) rallied more than 11% on Wednessday after the company announced that the U.S. Food and Drug Administration has approved the company's supplemental New Drug Application for BROMDAY (bromfenac ophthalmic solution) 0.09% as a once-daily prescription eye drop for the treatment of postoperative inflammation and reduction of ocular pain in patients who have undergone cataract extraction. ISTA expects to launch BROMDAY (formerly referred to as XiDay) prior to the end of 2010.

Disclosure: Author doesn't own any of the stocks discussed here.

 

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Market news:

  • Crystal Cathedral teeters on the edge Oct 20, 2021 05:12 PM

    • GARDEN GROVE, Calif. - Capitalizing on the emerging car culture of Southern California in the 1950s, the Rev. Robert H. Schuller started a drive-in church and built it into an international televangelist empire, symbolized by the soaring glass Crystal Cathedral and its weekly "Hour of Power" show.
    • Now Schuller's life's work is crumbling.
    • The organization declared bankruptcy this week in a collapse blamed by some on its inability to keep up with the times and a disastrous attempt to hand the church over to Schuller's son.
      • Octomom's fertility doc testifies to save license Oct 20, 2021 04:29 PM

        • LOS ANGELES - The fertility doctor whose in vitro treatments gave Nadya Suleman her octuplets tearfully began testimony Wednesday as he defended his methods in the fight to keep his medical license.
        • The Beverly Hills doctor detailed his life decades before he helped Suleman have octuplets and six other children through in vitro fertilization.
        • The state licensing agency alleges that Kamrava was negligent in the treatment of Suleman and two other patients, and is seeking to revoke or suspend his license.
          • Thomas' wife seeks apology from accuser Anita Hill Oct 20, 2021 04:19 PM

            • WASHINGTON - Anita Hill is refusing to apologize for accusing then-Supreme Court justice nominee Clarence Thomas of sexually harassing her, in an issue that Thomas' wife has reopened 19 years after his confirmation hearings.
            • "I have no intention of apologizing because I testified truthfully about my experience and I stand by that testimony," Hill, now a Brandeis University professor, said in a statement released Tuesday night.
            • Thomas' wife, Virginia, had left a voicemail message on Hill's phone on Oct. 9 asking her to say she was sorry for the allegations that surfaced at Thomas' confirmation hearings for a seat on the high court bench in 1991.
              • Afghan govt throws out nearly a quarter of ballots Oct 20, 2021 04:15 PM

                • KABUL, Afghanistan - Afghanistan has thrown out nearly a quarter of ballots cast in last month's parliamentary elections because of fraud, but it is still far from clear whether the public will accept the results as fair.
                • The full preliminary results from the Sept. 18 poll were released Wednesday after multiple delays as election officials struggled to weed out results from polling stations that never opened, along with bunches of ballots all cast for one candidate, or suspiciously split 50-50 between two people.
                • The 2009 presidential election nearly derailed international support for Karzai, turning this year's poll into a test of whether the government is committed to reforms seen as key for justifying NATO funding and troops.
                  • ETF Update: UCO, VXX, SPY Oct 20, 2021 04:10 PM

                    ProShares Ultra DJ-UBS Crude Oil (NYSEArca: UCO) was one of the biggest gainers among the ETFs on Wednesday, October 20, 2010.

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