Amarin Corp. (NASDAQ:AMRN) announced Tuesday that it was granted a key U.S. patent for its heart-drug candidate AMER-101, a treatment for high triglyceride levels.The product is currently waiting for approval by the FDA and should have a decision by late July.Share of the company were up 6% in midday trading.Amarin (NASDAQ:AMRN) has potential upside of 98.9% based on a current price of $11.23 and an average consensus analyst price target of $22.33.
USDJPY moves sideways below 84.17. The sideways movement is likely consolidation of the uptrend from 76.02. Support is at the lower line of the price channel on 4-hour chart, as long as the channel support holds, we’d expect uptrend to resume, and another rise towards 85.00 is still possible. On the downside, a clear break below the channel support will indicate that lengthier consolidation of the uptrend is underway, then the pair will find support around 82.50.
Datsun has returned. Yes, the brand that made Japanese carmaker Nissan a household name is being revived after three decades. The carmaker announced the decision on Tuesday, saying the return of the brand will increase sales in developing markets such as Russia and India. The brand will most likely focus on the compact/mini-car segment with stress on reliability and affordability. Nissan will hold press conferences in Tokyo and Mumbai tomorrow to announce its plans for the brand.Datsun debuted in Japan in 1932 and sold cars in America over 50 years ago. It was discontinued in 1981 to to unify the model lineup under the Nissan brand.
GE (NYSE:GE) announced its plans to open a new factory for appliances in Louisville, Kentucky.Along with a new factory opening, the company revealed its new line of refrigerators, which GE hopes to launch by 2014.General Electric (NYSE:GE) has potential upside of 9.2% based on a current price of $20.1 and an average consensus analyst price target of $21.94.General Electric is currently above its 50-day moving average (MA) of $19.09 and above its 200-day of $17.39.
Caterpillar (NYSE:CAT) shares fell over 2% in midday trading on Tuesday after the company announced sales of its retail machines slowed in the past months.In January, sales were up 47% then fell to 39% by mid-February even in Asia where sales fell to 20% in February.Caterpillar (NYSE:CAT) has potential upside of 17.3% based on a current price of $110.89 and an average consensus analyst price target of $130.11.
Resource America Incorporated (REXI) maintained its quarterly dividend of 3 cents per share. The cash dividend will be paid on April 30, 2012 to all holders of record at the close of business on April 20, 2012.
Hewlett-Packard (NYSE:HPQ) plans to announce a major restructuring plan today that will include the merger between its PC and printing divisions.Included in the restructuring plans is the firing of chief V.J. Joshi, sources told AllThingsD.Both of the HP units posted weak revenue in its fiscal Q1, as each fights to offset cannibalization from competing technologies, tablets cutting into PC sales and online photo sharing cutting into the printing figures.
Hewlett-Packard (NYSE:HPQ) plans to announce a major restructuring plan today that will include the merger between its PC and printing divisions.Included in the restructuring plans is the firing of chief V.J. Joshi, sources told AllThingsD.Both of the HP units posted weak revenue in its fiscal Q1, as each fights to offset cannibalization from competing technologies, tablets cutting into PC sales and online photo sharing cutting into the printing figures.
JP Morgan (NYSE:JPM) just announced that it will doll out $150 million in order to settle a class-action suit filed by 3 pension funds over losses in medium-term notes issued by investment vehicle Sigma Finance, which went belly up in 2008.JP Morgan invested in Sigma notes for the plaintiff.JPMorgan Chase (NYSE:JPM) has potential upside of 5% based on a current price of $45.48 and an average consensus analyst price target of $47.75.
Source: ForexYard
The Japanese yen was up and down on Wednesday against the USD. The beginning of Wednesday saw the yen making gains against the greenback but as the day moved on the dollar eventually came out on top. Towards the end of the afternoon, the yen was trading at 83.83 against the dollar.
A combination of mixed news from the U.S. as well as continued uncertainty regarding where the yen will move is contributing to the back and forth behavior of the USD/JPY. The U.S. has recently released various reports indicating strength in the economic recovery underway but yesterday’s home sales figures were a disappointment to many. Meanwhile, the yen continues to trade well above the 80.00 mark as investors express their uncertainty as to which way the Japanese economy and, subsequently, the currency will move.
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