Market News Call

Just In: La Jolla Pharmaceutical Company (NASDAQ:LJPC), First Solar, Inc.(NASDAQ:FSLR)

Shares of thinly-traded La Jolla Pharmaceutical Company(NASDAQ:LJPC) jump on a 5x surge in volume albeit on turnover of only ~500K shares. The company filed an S-3 on June 27 for a stock-and-warrant offering of $150M.Wedbush raises its PT to $45 from $34, representing a ~4x rise from today’s price. This is a clear signal that it is an underwriter on the issue.

First Solar, Inc.(NASDAQ:FSLR) is reportedly abandoning its effort to build a 2GW solar plant in the Chinese city of Ordos, following years of talks.The company signed an MOU with the Chinese government in 2009 to build the plant. Two years later, it signed an MOU with Guangdong Nuclear to help develop the project.For reference, First Solar estimated it had 12.2GW of potential booking opportunities at the end of Q1. Shares briefly dipped due to the report, but have bounced back.



Tags: , ,

Comments are closed.