In this report: United Continental Holdings (NYSE:UAL), Alimera Sciences (NASDAQ:ALIM) and Dynergy Inc. (NYSE:DYN).
United Continental Holdings (NYSE:UAL) is trading over 2 percent higher today following a drop in the price of oil. Oil prices play a huge part in airline performances as it account for about one third of the industry expenses. Recent rally’s in the commodity have wreaked havoc on airlines over the past few years, cutting into profits and forcing them to restructure or merge to stay above water.
Alimera Sciences (NASDAQ:ALIM) continued its plunge today following its announcement last week that it received a complete response letter from the FDA regarding its new drug application for Iluvien which is aimed a treating diabetic macular edema. The letter stated that the Food and Drug Administration was unable to approve the drug because the New Drug Application did not provide sufficient data to support that the drug is safe and effective on the treatment of patients with diabetic macular edema. The company stated that they will request a meeting with the FDA in order to clarify the next steps its should take in the process. Almiera dropped over 72 percent on Friday following the news but the hemorrhaging didn’t stop there, the company fell another 13 percent on Monday.
Dynergy Inc. (NYSE:DYN) dropped another 4 percent on Monday after the company posted a loss that tripled last years same quarter result. The company lost $75 million, or 61 cents per share, during the third quarter, a far drop from last years loss of $34 million, or 20 cents per share. Revenue dropped 33.4 percent to $516 million. Analysts on average had predicted a loss of 33 cents per share on revenue of $602.4 million.
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