The U.S. market declined in Friday morning’s trading but it is making its way back up the charts.  Many are reporting that some attributable factors to the decline could have been the call by the U.S. Federal Reserve to unexpectedly raise the discount rate it charges banks for their loans and the climb of the dollar.

Expecting the banks to be hit by the announcements the major players have managed to stay in the green.

Looking at Citigroup (C.N), it is trading at $3.44, up 0.01 or 0.29%, trading at the day’s high hitting a low of 3.39.  The 52 week-high for Citigroup sits at 5.43 from August 28, 2009.

Bank of America (BAC.N), is trading at $15.973, up 0.093 or 0.58%.  The day’s high sits at 16.00 touching on a low of 15.71.  The 52 week-high for BAC is 19.10 from this pact October 2009.

JP Morgan (JPM.N), is down 0.94% or 0.38, trading at 40.03, close to the day’s high of 40.35, with a low of 39.92.  JP Morgan reached its 52 week-high last October of 47.47.

The decline could have been softened by the consumer prices which rose to a lower than expected level. 

General Electric (GE.N) which is often responsive to the economic environment and market developments is slightly down 0.08 or 0.49%, trading at $16.16, hitting a high of 16.25 with the day’s low of 16.00.  The 52 week high for GE sits at 17.52.

The S&P 500 is up 0.38% at 1,110.93, the NASDAQ is up 0.24% to 2,247.01, the DJIA is up 0.32% to 10.426.31. 

Although the recent developments have investors anticipating that we may soon be seeing interest rates on their way up, some are encouraged by the development as it means that the Fed’s may be more confident in the economic recovery. 

Looking at other movers and shakers on the charts today, JC Penney (JCP.N) is trading heavily today at $27.77, up 1.81 or 6.97%.  The company reported on their fiscal fourth-quarter earning which fell 5.2%. 

Dell Inc. (DELL.Q) is down 6.58% or 0.949, trading at 13.48.  Dell reported a decline in quarterly profit but an increase in sales. 

Sirius XM Radio Inc. (SIRI.Q) is trading in the red from its green ride presently down 2.66% or 0.03 at 1.10.

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Sirius XM Radio Inc. (NASDAQ: SIRI), $0.959, +0.067, 7.49%, SIRI has been on a steady incline.  We previously reported on SIRI when it was trading at 0.88 cents.  Today SIRI traded in the range of 0.98 hitting a low of 0.905.  The high of the day today was enough to surpass its 52 week-high of 0.95.  Last several announcements from Sirius were on the type of programming was being featured from Oprah radio to teens discussing peer pressure and related matters.  Sirius XM Radio is America’s satellite radio company delivering to subscribers commercial-free music channels, premier sports, news, talk, entertainment, and traffic and weather.  SIRI traded at its highest volume in over a month. 

Infospi Inc. (OTCBB: ISPI), $0.239, +0.059, 32.78%, surged on volume today making considerable gains of 32.78%, trading in a modest range of 0.205 to the day’s high of 0.265.  Infospi Inc. is an environmentally focused company focusing on the development of Biofuels and biotechnologies by working together with experts and universities in the same field.  The 52 week-high for ISPI from January 21, 2010 was 0.46 while shortly after it hit its 52 week-low of 0.11 on February 3, 2010. 

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Sirius XM Radio Inc. (NASDAQ: SIRI), $0.959, +0.067, 7.49%, SIRI has been on a steady incline.  We previously reported on SIRI when it was trading at 0.88 cents.  Today SIRI traded in the range of 0.98 hitting a low of 0.905.  The high of the day today was enough to surpass its 52 week-high of 0.95.  Last several announcements from Sirius were on the type of programming was being featured from Oprah radio to teens discussing peer pressure and related matters.  Sirius XM Radio is America’s satellite radio company delivering to subscribers commercial-free music channels, premier sports, news, talk, entertainment, and traffic and weather.  SIRI traded at its highest volume in over a month. 

Infospi Inc. (OTCBB: ISPI), $0.239, +0.059, 32.78%, surged on volume today making considerable gains of 32.78%, trading in a modest range of 0.205 to the day’s high of 0.265.  Infospi Inc. is an environmentally focused company focusing on the development of Biofuels and biotechnologies by working together with experts and universities in the same field.  The 52 week-high for ISPI from January 21, 2010 was 0.46 while shortly after it hit its 52 week-low of 0.11 on February 3, 2010. 

About Picksthatmove.com

PicksThatMove.com is an independent electronic publication that provides information on selected publicly traded companies. PicksThatMove.com is not a registered investment advisor or broker-dealer. PicksThatMove.com’s affiliates, offices, directors and employees may buy and sell shares in any company mentioned herein and may profit in the event those shares rise in value.  Please follow us on Twitter and Facebook for further investment updates.  We recommend you do your own Due Diligence before investing in any of the stocks mentioned above.

Encorium Group Inc. (NASDAQ:ENCO) bounced 21.15% to close at $0.315 surging on heavy volume on no news.  Headquartered in Wayne, Pennsylvania, Encorium designs and manages clinical trials for lead pharmaceutical, biotechnology, and medical device industries primarily in the US and Europe.   Encorium Group stock is trading above its 200 day moving average of $0.29.

EntreMed, Inc. (NASDAQ:ENMD) gained 15.35% to close at $0.750 on no official news since the company received notice that its common stock will face delisting from the Nasdaq because it has failed to sustain a minimum bid of $1.00.  EntreMed requested a court hearing on the matter and was able to extend trading, which without a hearing request, the stock would have been delisted today, the 28^th of January. Headquartered in Rockville, Maryland, EntreMed is a clinical-stage pharmaceutical company which develops drug candidates chiefly for the treatment of cancer and inflammation.  The company has four drug candidates in clinical trials, including ENMD-2076, MKC-1, ENMD-1198, Panzem for the treatment of various advanced cancers.

Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY) rose 14.29% up to $2.40 on no news. On Monday the company participated at the 8th Annual BioPartnering North America (BPN) Conference, in Vancouver, British Columbia.  Headquartered in Calgary, Alberta, Oncolytics Biotech, Inc is a biopharmaceutical company which discovers and develops therapeutic products for the treatment of cancer.  The company currently has more than a dozen trials at various stages in the US, UK and Canada for their lead drug candidate Reolysin, for the treatment of neck cancer. The company has a market cap of about $136 million and the financial wherewithal to market the drug pending FDA approval.

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La Jolla Pharmaceutical Company (NASDAQ:LJPC) advanced 23.36% up to $0.1360 on no news; however the biopharmaceutical company announced this week it expects that NASDAQ will take action to begin proceedings to delist the company’s common stock. Based in San Diego, California La Jolla Pharmaceutical Company is a biopharmaceutical company focused on the discovery and development of small molecule therapy for the treatment of autoimmune diseases, and acute and chronic inflammatory disorders and acute and chronic inflammatory disorders such as Lupus.

CombinatoRx, Incorporated (NASDAQ:CRXX) rose 14.02% up to $1.22 on no news since the company announced changes to its senior management team following its merger with Neuromed.  The company expects news on February 22nd from the FDA regarding a review of the New Drug Application for Neuromed’s drug candidate Exalgo for pain management.  CRXX is surging on heavy volume and trading above its 200 day moving average of $1.05.  Based in Cambridge, Massachusetts, CombinatoRx, Inc., is a biopharmaceutical company which discovers, develops, and out-licenses combination pharmaceuticals created by blending drugs to treat various diseases, cancer, metabolic diseases, inherited diseases, and other medical conditions.

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SMTC Corporation (USA) (NASDAQ:SMTX) jumped 29.41% to close at $1.54, trading at a 52 week high on no official news. Based in Markham, Ontario, SMTC Corporation manufactures electronics. The company’s services include product design and sustaining engineering, printed circuit board assembly, production, enclosure fabrication, systems integration and comprehensive testing services, and configuration. It also provides enclosure and precision metal fabrication, cable assembly, interconnect, and engineering design services.

Conexant Systems, Inc. (NASDAQ:CNXT) rose 17.27% up to $4.21 on heavy volume on no news since the company announced its first quarter fiscal 2010 results exceeded their outlook,  last week.   First quarter core gross margin of 61 percent was better than expected, said Conexant in the press release. Headquartered in Newport Beach, California, Conexant Systems, Inc is a technology company manufacturing micro chips.  The company designs, develops, and markets semiconductor system solutions for broadband communications which enable high-speed transmission, processing, and distribution of audio, video, voice, and data to homes and businesses. The company also provides broadband access products for high-speed Internet access, voice and telephone services, real-time video distribution, and gaming applications markets.  Conexant Systems sells its products and system solutions to manufacturers of communication electronics products through electronic components distributors, and to third-party electronic manufacturing service providers.  CNXT has appreciated 510% since last January; and 81% since the beginning of the month.                  

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Somaxon Pharmaceuticals Inc. (NASDAQ:SOMX) blasted 102.27% up to $2.67 on news the sleep drug maker has refilled with the FDA seeking  approval for its New Drug Application (NDA)  on behalf of  Silenor (doxepin) for the treatment of insomnia.

On December 7^th 2009, the FDA declined Silenor for the second time that year; the stock spiralled down some 72% by mid-December, where it was trading around $0.928.  Fortunately the clinical safety of the drug was not an issue for the FDA; however the government agency was not satisfied with the efficacy standard for sustained sleep required to maintain effectiveness in adults with insomnia. 

Undaunted,  Somaxon  filed  ‘Class 1 resubmission’ this week and is prepared to begin commercialization of the drug candidate pending the decision, which is expected in about 8 weeks.

Somaxon currently has a market cap of about $62 million which is more than sufficient to finance its operations throughout the FDA’s current review of the Silenor and throughout the second quarter of 2010; and as of September 30^th 2009 the company had no debt. Headquartered in San Diego, California, Somaxon is a specialty pharmaceutical company focused on the in-licensing and development of proprietary product candidates for the treatment of diseases and disorders in the central nervous system such as insomnia.

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PFSweb, Inc. (NASDAQ:PFSW) jumped 44.57% up to $2.53 by midday on news the company will begin a pilot project for online shopping, branded as eStore.  The online shopping site will be owned and operated by PFSweb and exclusively feature Procter & Gamble products for consumers in the US. The eStore is planned to launch in the spring of 2010, following the targeting of about 5,000 consumers vis a vis the pilot which will begin operating in the next weeks.  Headquartered in Plano, Texas, PFSweb, Inc. provides ecommerce and business development outsourcing solutions to companies in the US, Canada, and Europe.   The company’s services include professional consulting, technology collaboration, managed Web hosting and Internet application development, order management, Web-enabled customer contact centers, customer relationship management, information management, interactive marketing, logistics, freight and transportation management, real-time order management, facilities and operations management, kitting and assembly, and international fulfillment and distribution, as well as financial services, including billing and collection services, and working capital solutions.  The company offers technology infrastructure and distribution for clients operating in technology manufacturing, computers, cosmetics, fragile goods, contemporary home furnishings, apparel, aviation, telecommunications, and consumer electronics, and other retail markets.

FortuNet, Inc. (NASDAQ:FNET) advanced 31.09% up to $2.22  on news The Yuri Itkis Gaming Trust of 1993 announced a tender to purchase all of the outstanding shares of Common Stock of FortuNet, Inc. not already owned by the Trust for $2.25 in cash per unit.  This is the second offer the trust has made and corresponds to a 32% increase over the originally announced price of $1.70 per share, a premium of approximately 76% over the closing price of the shares on November 20, 2009, the last full trading day prior to the first public announcement of the Trust’s intended offer, and a premium of approximately 69% above the average closing price of the shares for the 20 trading days immediately preceding November 20, 2009.  Earlier this month FNET announced receiving approval from the Nasdaq Stock Market Listing Qualifications Staff allowing FNET to transfer the listing of its common stock from the Nasdaq Global Market to the Nasdaq Capital Market; which was transferred at the opening of trading on this past Monday.  Headquartered in Vegas, Nevada, FortuNet, Inc is a manufacturer of multi-game and multi-player server-based gaming platforms. The gaming platforms include networks of both wireless and stationary player terminals, cashier-based point-of-sale terminals, self-service point-of-sale kiosks and game file servers that conduct, and control bingo games.

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Antigenics, Inc. (NASDAQ:AGEN) rose 40.40% up to $1.09 with 7,445,439 shares moving on no news in early afternoon trading.  Headquartered in Lexington, Massachusetts the biotechnology company develops cancer vaccines and other treatments for cancer and infectious diseases.

Pharmacyclics, Inc. (NASDAQ:PCYC) gained 19.66% up to $4.20, to a 52 week high on no news; and up 635% since last February when the stock was trading at a low of $0.57. Headquartered in Sunnyvale, California, Pharmacyclics, Inc. is a clinical-stage biopharmaceutical company which develops and commercializes small-molecule drugs for the treatment of auto-immune diseases and cancer. The company’s products in clinical development include HDAC Inhibitor for advanced solid tumours, recurrent lymphomas, and sarcoma; Btk Inhibitors for the treatment of lymphoma and auto-immune diseases; Factor VIIa Inhibitor for pancreatic cancer; and Motexafin Gadolinium for brain cancer.

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PicksThatMove.com is an independent electronic publication that provides information on selected publicly traded companies.  PicksThatMove.com is not a registered investment advisor or broker-dealer.  PicksThatMove.com affiliates, officers, directors and employees may buy and sell shares in any company mentioned herein and may profit in the event those shares rise in value.  We recommend Due Diligence before investing in any stock. 

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Zareba Systems Inc. (NASDAQ:ZRBA) skyrocketed 94.01% up to $ 8.75 on news the company will merge with a privately held subsidiary of Woodstream Corporation in Pennsylvania.   Zareba will go private and delist from the NASDAQ and shareholders will receive $9.00 in cash for each outstanding share of ZRBA common stock.  This price represents a payment of approximately 100% over the closing price of Zareba stock on January 11, 2010. Based in Minneapolis, Minnesota, Zareba Systems, Inc. designs, manufactures, and markets electronic perimeter fence and access control systems primarily in North America and the UK. The product line includes energizers, high tension fences, insulators, poly wires, tapes and ropes, and security fence systems for both human and animal control, detection, and deterrence.

Energy Focus, Inc. (NASDAQ:EFOI) jumped 36.17% up to $1.28 on news the company’s newly acquired and wholly owned subsidiary, Stones River Companies, won seven lighting energy services contracts valued at about $12.3 million. EFOI is rapidly capitalizing on growth in their energy services business and the emergent global market for LED and eco-efficient lighting driven by a global ban all incandescent bulbs by 2012. Headquartered in Solon, Ohio, Energy Focus develops, manufactures, and markets energy efficient lighting solutions for commercial, retail, grocery, military, museum, and pool and spa markets.

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