Diamonds and Dogs
7/22/13Tower International Inc. (TOWR)
Tower International is crumbling today, down 13.65% at $19.86. The auto part maker released great earnings which beat expectations, however it is trading lower on news that one of the largest holder of the stock will start to take profits. Cerberus Capital Management bought Tower out of bankruptcy in 2007 for $1 billion. Cerberus announced that it is now ready to cash out around half of its 61% stake in Tower. The large sell is worrying investors as it is possible that the selloff could greatly affect share price. Tower has done well so far this year and shares are trading well above their 52-week low of $6.00.
TrovaGene Inc. (TROV)
TrovaGene is trading higher today, up 21.19% at $8.53. The molecular diagnostic company saw its shares pop after announcing result regarding its clinical studies. TrovaGene was successful in the development of a molecular diagnostic test capable of detecting and quantifying oncogene mutations from a simple urine specimen (in plain terms, some forms of cancer can be detected in a urine sample). The ability to regularly detect and monitor the results of cancer treatment through a non-invasive, systemic sample could significantly help patients who require therapy for recurrent or metastatic cancer. Shares of TrovaGene jumped $1.49 today, but are still below their 52-week high of $8.96.