Diamonds and Dogs
8/13/13Orbitz Worldwide Inc. (OWW)
Orbitz Worldwide is traveling lower today, down 13.12% at $10.20. The online travel company saw its shares fall after a major investor sole of part of its stake in the company. PAR Capital Management dumped 8.1 million of the 24.6 million shares it held, a decision which Paul Reeder, president of the investment group, said was to "better diversify our portfolio." Reeder said he was still optimistic on Orbitz; however investors seem slightly worried about the large sell off. Shares of Orbitz have had a great year and are still well above their 52-week low of $2.07.
Osiris Therapeutics Inc. (OSIR)
Osiris Therapeutics hit the daily double today, up 138.65% at $25.44. The stem cell company saw its shares skyrocket after its Grafix stem-cell treatment for chronic diabetic foot ulcers proved overwhelmingly effective. In the study, 62% of patients receiving Grafix had achieved complete wound closure compared with only 21% of patients who received conventional treatment, triggering plenty of optimism on Wall Street for a boost in sales through increased insurer reimbursement. The great news sent Osiris shares to a new 52-week high of $24.75 intraday.