What Stocks To Buy And Avoid? World Wrestling Entertainment, Inc. (WWE), OraSure Technologies, Inc. (OSUR) and Idera Pharmaceuticals Inc (IDRA)
New York, NY – GDP INSIDER – 05/19/2014.
This article discusses three companies: World Wrestling Entertainment, Inc. (NYSE:WWE), OraSure Technologies, Inc. (NASDAQ:OSUR) and Idera Pharmaceuticals Inc (NASDAQ:IDRA)
World Wrestling Entertainment, Inc. (NYSE:WWE) shares were up in trading yesterday by 1.8% to $13.91. The entertainment company reported a new $35 million revolving credit facility with Bank of America Merrill Lynch. The new facility will allow WWE to develop films and television projects. It has not yet utilized the facility, but it could start to do so and make investments that will help grow revenues along with earnings. The shares of WWE are down by 18% over the past 3-months and are below their moving averages. We would look for the company to break through the moving average before a more sustainable move up.
OraSure Technologies, Inc. (NASDAQ:OSUR) had a huge day in trading on Monday, increasing by $1.43 to $7.41. The 24% increase in the stock came after big gains late last week. The shares have increased by 40% over the past week. The stock may be spiking as it does every May based on Hepatitis C awareness campaigns. A newsletter also recommended the shares last week further contributing to its rise. We are concerned the stock has come too far too fast and is due for a correction. We also question underlying fundamentals.
Idera Pharmaceuticals Inc (NASDAQ:IDRA) was up by 12.4% in trading on Monday to close at $3.36. The increase was on higher than average volume of 3.2 million shares versus the daily average of close to 2 million shares. The company issued an update for its IMO-9200 product on Monday that caused the increase in the stock. The treatment for inflammatory bowel disease successfully completed a phase 1 trial. This is one step further in its development process and increases the likelihood the product will come to market.
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