Diamonds and Dogs
8/13/13
Orbitz Worldwide Inc. (OWW)Orbitz Worldwide is traveling lower today, down 13.12% at $10.20. The online travel company saw its shares fall after a major investor sole of part of its stake in the company. PAR Capital Management dumped 8.1 million of the 24.6 million shares it held, a decision which Paul Reeder, president of the investment group, said was to "better diversify our portfolio." Reeder said he was still optimistic on Orbitz; however investors seem slightly worried about the large sell off. Shares of Orbitz have had a great year and are still well above their 52-week low of $2.07.
Osiris Therapeutics Inc. (OSIR)
Osiris Therapeutics hit the daily double today, up 138.65% at $25.44. The stem cell company saw its shares skyrocket after its Grafix stem-cell treatment for chronic diabetic foot ulcers proved overwhelmingly effective. In the study, 62% of patients receiving Grafix had achieved complete wound closure compared with only 21% of patients who received conventional treatment, triggering plenty of optimism on Wall Street for a boost in sales through increased insurer reimbursement. The great news sent Osiris shares to a new 52-week high of $24.75 intraday.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.