Diamonds and Dogs
Inovio Pharmaceuticals Inc. (INO)
Inovio Pharmaceutical is having a stellar day, up 19.89% to $8.44. The biopharmaceutical company saw its shares pop today after better than expected earnings and news of a grant. For the quarter, Inovio management announced that the company lost $0.12 per share, which beat analysts' estimates for a loss of $0.15 per share. Further helping the company rally today, was news that Inovio and Academic Collaborators received a $16 million grant from The National Institute of Allergy and Infectious Diseases for their HIV studies. Shares of Inovio jumped over $1.40 today, but are still well off of their 52-week high of $15.56.
iDreamSky Technology Limited (DSKY)
iDreamSky is going to be giving its investors nightmares today, down 28.97% to $7.69. The Chinese mobile gaming company saw its shares fall after reporting worse than expected earnings, guidance, and a downgrade. For the quarter, iDreamSky announced revenue of $52.7 million, missing analysts' forecast for $63.8 million. For first quarter of this year, the company sees lower earnings as well, reporting that they expect $54.8 million, which again is below Wall Street's view of $69.78 million. The miss of earnings and lower guidance also caused Stifel to downgrade the company from buy to hold and remove their $27.00 price target. Shares of iDreamSky hit a new 52-week low of $7.50 intraday.
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