Top Three Gainers
Idenix Pharmaceuticals (NASDAQ:IDIX) is our top pick. IDIX despite missing Q3 EPS by ($0.04) stocks soared thanks to data released for products in the pipeline. These are considered next generation healthcare solutions and have had investors excited. Heavy volume trades also noted the strong cash reserves sustaining it until end of 2014. Also, IDIX expressed that it would not be interested in ‘exclusive arrangements with JNJ’ or others for the HCV it currently handles. HELIX –1 is under evaluation for NS5A inhibitor, Samatasavirin with Simeprevir a JNJ product. Enrolment has begun for Phase ½ for its IDX2147. However, enrolment for HELIX-1 is already completed along with ribavirin GT1b as well as GT 4 trial. Results of these trails are expected in Q4.
Desarrolladora Homex (NYSE:HXM) is our second pick. The Mexico based homebuilding major soared to 33% high on Friday. Many analysts had saw tough times ahead for the Mexican company, given the new housing guidelines. Homebuilders had invested in massive land tracts in urban areas of Mexico hedging against potential subsidies. However, yesterday HXM posted quick gains, with the catalysts for the drive being market watchers and later day traders.
Genco Shipping & Trading (NYSE:GNK) is our third pick. Genco’s and Baltic trading, its subsidiary will announce their quarterly earnings on Thursday, Nov 5. Genco. On Friday the dry bulk shipper reached the new high, despite a debt repayment situation. It has been in the market for refinancing and reports are yet to be confirmed if the rise is due to new funds from new investors. The company has been in negotiations with lenders to modify the repayment modes and avert eventual bankruptcy. Genco and its competitors like Navios Maritime Partners are also in the same situation and looking for quality solutions.