Whether a recent federal court ruling will scrap Royal Dutch Shell Plc (OTCQB: RYDAF) Alaska drilling plans remains to be seen, but the uncertainty it creates could affect the oil company’s share price.
Netherlands – based Royal Dutch Shell Plc was one of the most active stocks on Jan. 24, trading 2,216,383 shares, more than 14 times its three-month average volume of 153,679 shares.
The spike in activity comes on the heels of Jan. 23 news that the oil company’s plans to drill for oil off the coast of Alaska could be delayed because of a US appeals court opinion that the government acted illegally by opening up nearly 30-million acres of US Arctic waters.
Environmental groups are declaring the ruling made by the 9th Circuit Court of Appeals in the U.S. as a solid win in their attempt to nix new drilling by Shell in the Alaskan wilderness. Shell has not responded to the decision, only saying its lawyers are “reviewing the opinion,” according to published reports. Some industry experts believe it would be premature to count Shell out.
On Jan. 24, RYDAF share price closed at $35.82, down 33 cent from the share price of $35.49 the previous day.
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Another very active stock on Jan. 24 was FUJIFILM Holdings Corp. (OTCPINK:FUJIY) with more than 826,426 trading hands, more than 16 times its three-month average volume of 48,602 shares.
FUJIFILM hasn’t issued any news, or government filings, so some speculate the volume could have been generated by current volatile market conditions.
On Jan. 24 FUJIY share price closed at $28.95, down 85 cent from the share price of 29.80 the previous day.
Find out what could be the best investor’s move when it comes to FUJIY by getting the complete report here, or by cutting and pasting the following link in your Web browser:
Sanofi (OTCQB: SNYNF) stock lost some ground Jan. 24, closing at 98.18, down $3.47 cents from the share price of 101.65 the previous day.
The Paris-based pharmaceutical and maker of various healthcare products announced less than two weeks ago that one of its wholly-owned subsidiaries, Genzyme, is partnering with Alnylam Pharmaceuticals, Inc. to develop and commercialize treatments for rare genetic diseases. As part of the expanded relationship, Genzyme will invest $700 million to become a major Alnylam shareholder, according to the company’s written statement.
Under the new agreement, Genzyme will have significant rights to Alnylam's portfolio of clinical and pre-clinical stage drug candidates.
“This collaboration is an important building block for our future. It strengthens our pipeline and provides us with the opportunity to meet the needs of patients with rare diseases around the world through our well-established global organization.” Genzyme's President and CEO David Meeker said in a written statement.
Provectus Pharmaceuticals (OTC: PVCT), Inc. stock volume skyrocketed Jan. 24, trading 17,927,132 share, more than eight times its three-month average volume of 2,300,137.
The development-stage pharmaceutical company is developing medicines for oncology and dermatology applications. Provectus product line includes PV-10, a Phase II study completed drug candidate for metastatic melanoma, a Phase I study completed candidate for breast cancer, and a Phase I protocol expansion candidate for liver metastasis.
In addition it is conducting PH-10, a Phase IIc randomized study initiated drug candidate for the treatment of psoriasis, and Phase II study completed candidate for atopic dermatitis. It also develops PH-10 for the treatment of actinic keratosis and severe acne vulgaris.
Moreover, the company develops over-the-counter pharmaceuticals, including GloveAid, a hand cream with antiperspirant and antibacterial properties; Pure-ific line of products to prevent the spread of germs on skin; and Pure-Stick and Pure N Clear acne products.
On Jan. 24 PVCT share price closed at $2.13, up 26 cent from the share price of $1.87 the previous day.
Find out what could be the best investor’s move when it comes to PVCT by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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