Diamonds and Dogs
8/14/13Cree Inc. (CREE)
Cree Inc. isn't shining today, down 22.24% at $58.91. The LED light company saw its shares fall after releasing new guidance for the first quarter of 2014. Cree management announced it expects to collect revenues between $380 million and $400 million. At the midpoint, that is short of the $399 million that analysts are expecting. The company also promised to earn profits of between $0.36 and $0.41 per share in Q1, which also was short of analyst expectations of $0.43. Cree shares lost nearly $17.00 today, but are still trading in their 52-week range of $24.50-$76.00.
Ampio Pharmaceuticals Inc. (AMPE)
Ampio Pharmaceuticals is trading in the green today, up 15.30% at $6.18. The biopharmaceutical company saw its shares jump after positive news in its SPRING trial regarding osteoarthritis in the knee. In this study of 329 patients, patients treated with a single intra-articular injection of Ampion achieved a clinically meaningful reduction in pain. The primary study objective was to evaluate the relative efficacy of Ampion 4 mL versus Ampion 10 mL. There were no drug-related serious adverse events. Selection of the optimal dose for the second Phase 3 trial will be decided in consultation with the FDA. Ampio shares climbed up near their 52-week high of $7.17, reaching $6.99 intraday.