Stocks have slipped from their early highs and the major averages are now in the red. The S&P 500 is off by 0.1%.
High-yielding telecom stocks have been under pressure during the past week. Today, the sector is the top performer. Within the space, Telephone & Data Systems (TDS 23.32, +0.75) is advancing 3.3% after Citigroup upgraded the stock to ‘buy’ from ‘neutral.’
Elsewhere in telecommunications, AT&T (T 33.86, +0.31) is adding 0.9% after announcing the company will subsidize the Apple (AAPL 544.05, -3.01) iPad. Meanwhile, Sprint Nextel (S 5.61, +0.07) is also seeing relative strength as the stock trades higher by 1.2%.
On the downside, Inteliquent (IQNT 3.15, -0.35) is down 10.1% after Morgan Stanley downgraded the stock to ‘equal-weight’ from ‘overweight.
AMBS – Trade Alert
Up 15.69% in morning trading to $.059 with 14M shares traded
Amarantus BioSciences, Inc. is a development-stage biotechnology company founded in January 2008. The Company has a focus on developing certain biologics surrounding the intellectual property and proprietary technologies it owns to treat and/or diagnose Parkinson’s disease, Traumatic Brain Injury and other human diseases. The Company owns the intellectual property rights to a therapeutic protein known as Mesencephalic-Astrocyte-derived Neurotrophic Factor (”MANF”) and is developing MANF-based products as treatments for brain disorders. The Company also is a Founding Member of the Coalition for Concussion Treatment (#C4CT), a movement initiated in collaboration with Brewer Sports International seeking to raise awareness of new treatments in development for concussions and nervous-system disorders. Amarantus BioSciences, Inc. (OTCQB: AMBS) today announced that it has appointed Robert J. Zimmerman, SD as product development advisor. In Dr. Zimmerman’s advisory role, he will assist Amarantus management with expansion of the Company’s MANF product development strategy.
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STV – News Alert
Up 29.77% in morning trading to $3.88 with 1M shares traded
China Digital TV is the leading provider of CA systems to China’s expanding digital television market. CA systems enable television network operators to manage the delivery of customized content and services to their subscribers. China Digital TV conducts substantially all of its business through its PRC subsidiary, Beijing Super TV Co., Ltd., and its affiliate, Beijing Novel-Super Digital TV Technology Co., Ltd., as well as subsidiaries of its affiliate. China Digital TV Holding Co., Ltd. (NYSE: STV) today declared a special cash dividend of US$2.30 per share on the Company’s ordinary shares, par value US$0.0005 per share. Each of the Company’s American depositary shares represents one ordinary share.
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SANP – News Alert
Up 13.08% in morning trading to $1.21 with 1M shares traded
Santo Mining Corporation is an aggressive junior minerals exploration and development Company, based in the Dominican Republic. The Company is actively pursuing the acquisition and exploring of properties, which are strategically located in the prolific and highly prospective Hispaniola Gold-Copper Back-Arc area in the Dominican Republic. Santo Mining Corp. (OTCBB:SANP) announced that it is acquiring 100% of the Nathaniel gold exploration claim just East of Moncion in the Dominican Republic. This claim, of 475 hectares, is added to the Company´s growing portfolio of base and precious metal properties.
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