Diamonds and Dogs
Bringing Marijuana back to the forefront with today's diamond. INSYS Therapeutics (INSY) rose 8% after the FDA approved the company's latest drug, Syndros an alternative to the drug, Marinol. Marinol has been used to treat vomiting and nausea in cancer patients caused by chemotherapy, and to increase appetite in patients with AIDS since the 1980s. However, Marinol is only available in capsule form and has long since lost its' patent protection. INSYS Therapeutics new drug will be in oral form allowing doctors to better adjust doses to clients. INSYS is hoping this fact will allow the company to win back market share from the generics allowing the company to grow sales and earnings once again.
Up one day and down the next. After rumored takeover talk on Friday, Harley-Davidson (HOG) dropped 10% as investors and at least one analyst shot down the rumor talk. The analyst at Robert Baird pointed out that he found no information that would corroborate the takeout speculation surrounding Harley. With shares above his fundamental price target, the analyst downgraded the stock to neutral from outperform. Looks like some trader on Friday took advantage of the light volume today to push the Harley stock higher for his or her gain.
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