- BVF - had a solid quarter and went up today (Biovail Reports First-Quarter 2008 Financial Results). I think investors were pleased the high dividend is being maintained and the company is reducing expenses.
- KG - like BVF, KG has declining revenues due to losing patent rights to generics (King Pharmaceuticals Reports First-Quarter 2008 Financial Results). They were pretty flat today. They are certainly still making money.
- MRX - reported after the bell (Medicis Pharmaceutical raises full-year profit outlook). I felt their numbers were very strong. They have like $15 a share ($20 price) in cash, are making good money and are growing. What is not to like? They are a top 25 stock already and these numbers will move them even further up the list unless the price pops.
I bought BID to replace UG. I like the idea of an auction house as that is a business with a solid moat, hard for new competitors to enter the market. The WSJ had an interesting article (Traders Take Bullish Positions In Sotheby's Ahead of Earnings) about action in their options and how some recent auctions have fared (Sotheby's auctions Leger painting for more than $39M). We'll see, I am in at $27.
I did notice where HURC has dropped under $43. Not sure if it is still on the list (it is), but at that price it is worth keeping two eyes on.
OT but Funny. I saw where an oil and gas company ATPG shot up 15% today on record earnings. The funny part is that had you been paying attention, you could have made some easy money. Look at the headline of this news release at 3:06 pm, with the market still open beforre they announced their earnings: ATP to Announce Record First Quarter 2008 Results
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