Diamonds and Dogs
11/14/14Geron Corporation (GERN)
Geron Corp is looking healthy today, up 18.40% to $2.74. The biopharmaceutical company saw its shares spike after news that it would sell the last drug in its pipeline to a branch of Johnson & Johnson. Geron management said Janssen Biotech agreed to pay $35 million upfront for Geron's drug, imetelstat. Janssen also agreed to pay Geron an additional $900 million if the drug reaches certain milestones, including FDA approval. Shares of Geron had one of their best days in a long time, but are still well off of their 52-week high of $6.54.
Movado Group Inc. (MOV)
Movado Group is watching its stock close lower today, down 29.14% to $27.29. The watch maker saw its shares fall after slashing its outlook. For the third and fourth quarter, Movado warned investors that they would miss Wall Street's expectations. For the third quarter, the company expects revenue of $188.6 million and EPS of $0.86. Both numbers missed analysts estimates for $216.6 million and $1.13 per share respectively. Furthermore, for the fourth quarter management expects $132-137 million with an EPS of $0.18-0.23. Analysts' forecast for the fourth quarter were $154.1 million and $0.50. Shares of Movado hit a new 52-week low of $25.12 intraday.