Dendreon was worth the Gamble
Earlier this month we said throwing a few bucks at Dendreon Inc (DNDN) when it was trading at $4.07 was worth the gamble. Turned out it was in spades as DNDN shares are up 17% at $4.54. Expectations were so low, that today's so-so news was enough to rally shares.
Here's the 411 on Dendreon's move today, congrats to all those who listened to us:
The company posted a third-quarter net loss of $154.9 million, or $1.04 per share, compared with a loss of $147.1 million, or $1.00 per share, a year ago.
Excluding certain items, the company lost 59 cents. On that basis, analysts on average had expected an 86-cent loss, according to Thomson Reuters I/B/E/S.
Quarterly revenue rose to $78.0 million from $64.3 million.
Dendreon said its restructuring is on track and that it expects to see benefits associated with the initiative to be fully realized in the third quarter of 2013.
Dendreon was left for dead as we said. All it takes is some hope to boost a stock that is trading in the $4 range.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Car Rams Into Pedestrians In Islington Area Of London; One Male Arrested | ZeroHedge
- Goldman Asks "Have We Reached Peak Cash?" | ZeroHedge
- Should We Pay Off $20 Trillion in National Debt by Selling Federal Assets? | Financial Sense
- Ring The Alarm: UK Entering Meltdown Mode | ZeroHedge
- US Ambassador to USSR: “The Whole Brou-Ha-Ha Over Contacts with Russian Diplomats Has Taken On All The Earmarks of a Witch Hunt" | ZeroHedge
- Is India The Next Pakistan? "It Keeps Getting Worse Ever Faster" | ZeroHedge
- One Dead, 14 Injured After Ohio Nightclub Shooting; Shooter At Large | ZeroHedge
The most relevant financial news and articles from the Internets
- One of Wall Street's most steadfast bulls is worried... | Business Insider
- Saudi Arabia confirms Westminster attacker Khalid Masood... | Business Insider
- A trio of key Trump associates have... | Business Insider
- Snapchat is more like Twitter than Facebook in one important area (SNAP, TWTR, FB) | Business Insider
- Here's why it's a smart time to buy a 4K TV | Business Insider
- If Weight Watchers really wants keep its millennial members, here's the... | Business Insider
- How Apple can silence the haters, crush Google and Microsoft,... | Business Insider