Stock Market Watch

Three Stocks on the Move in the News: AMR, PPHM, and RITT

by ·




AMR Corporation (NYSE:AMR) has traded as high as $.77 during today’s trading session and last traded at $.65 for a gain of 55.37% from yesterday’s close! AMR shares are now up over 109% from my 11.29 alert of $.31 at last traded stock price. Get my next ALERT 100% FREE

American Airlines says three senior executives will be leaving the company after filing for bankruptcy protection last week.

Robert W. Reding , Executive Vice President Operations, will retire  Dec. 31   James B. Ream  is named Senior Vice President Operations, assuming additional responsibility for Flight Operations, Operations Planning & Performance, Operations Finance & Planning, and the Safety,  Security and Environmental Departments , in addition to his current role overseeing Maintenance & Engineering (M&E)


Mark L. Burdette, Vice President Employee Relations, will retire Dec. 31   Denise Lynn, currently Vice President, Flight Service, will move to the role of Vice President Employee Relations

Monte Ford, Senior Vice President and Chief Information Officer (CIO), has resigned effective Dec. 31   Maya Leibman, currently President of the AAdvantage Loyalty Program, is promoted to Senior Vice President and CIO

Beverly Goulet is named Chief Restructuring Officer, in addition to her continuing role as Vice President Corporate Development and Treasurer

“We are fortunate to have so many talented leaders to fill some big shoes during a very critical time,” said Tom Horton, Chairman and Chief Executive Officer of American Airlines. “The changes we’re announcing today will ensure continuity in each role, while enabling us to broaden our team’s experience and capabilities something that will be important as we lead American through the restructuring and reaffirm its position of leadership in the global airline industry.”

Peregrine Pharmaceuticals (NASDAQ:PPHM) has traded as high as $1.53 during today’s trading session and last traded at $1.37 for a gain of 37.03% from yesterday’s close! PPHM shares have traded as high as $3.10 over the past 52 weeks, which is nearly 56% off that high at last traded stock price.

PPHM today announced preliminary results from a randomized Phase II trial showing a 50% improvement in overall tumor response rates (ORR) in non-small cell lung cancer (NSCLC) patients. Patients treated with bavituximab plus carboplatin and paclitaxel currently demonstrate an ORR of 39%, versus 26% in patients treated with carboplatin and paclitaxel alone. This preliminary analysis using RECIST guidelines included all 86 front-line, Stage IV NSCLC patients randomized in this Phase II trial.

Peregrine plans to report on secondary endpoints, including median progression-free survival (PFS) and overall survival (OS) once reached during 2012. Bavituximab’s therapeutic potential is being evaluated in three randomized Phase II trials in front-line NSCLC, second-line NSCLC, and front-line pancreatic cancer, as well as in four investigator-sponsored trials (ISTs) in additional oncology indications with clinical data from each study expected in 2012.

“These first randomized clinical data indicate bavituximab is an active anti-tumor agent and heightens our enthusiasm for the bavituximab program, including the upcoming results from seven ongoing trials in different oncology indications,” said Kerstin B. Menander, M.D. Ph.D., head of medical oncology at Peregrine Pharmaceuticals. “Bavituximab targets a specific marker on tumor blood vessels but not on healthy vessels, offering a very basic mechanism of action and resulting in broad potential in the treatment of cancer patients. These results go a long way toward supporting our phosphatidylserine (PS)-targeting platform in a randomized trial setting, indicating bavituximab’s anti-tumor activity in combination with chemotherapy.”

RiT Technologies Ltd. (NASDAQ:RITT) has traded as high as $4.75 during today’s trading session and last traded at $4.27 for a gain of 32.54% from yesterday’s close! RITT shares have traded as high as $12.94 over the past 52 weeks, which is over 67% off that high at last traded stock price.

RITT, the leading provider of intelligent infrastructure management (IIM) solutions, today announced that it has appointed Mr.  Peter Leonard, a Johannesburg -based IT industry professional, to become its Country Sales Manager of South Africa.  Mr. Leonard will be mandated with further developing RiT’s business in South Africa, a region whose rapid uptake of IT technologies makes it a land of opportunity for RiT’s industry-leading solutions.

RiT’s momentum in Africa has been building throughout the past year, beginning with sales to Botswana Telecommunications Corporation (BTC) and Vodafone Ghana, and followed by the signing of distribution/marketing agreements with Kenya’s Adwest Communications, Mart Network Solutions/Giganet Networking Solutions and Adcare. The establishment of a permanent local presence demonstrates RiT’s belief in the sales potential of this rapidly-growing region, and its commitment to become one of its significant players.

“Africa today is a land in transformation, and a key enabler of change is the ongoing overhaul of its communications and IT networks,” commented Eran Ayzik, RiT’s President and CEO. “Thousands of businesses are investing in new data centers and IT hubs, and their IT staffs are looking to build in intelligent infrastructure platforms. With a strong reputation, industry-leading solutions and an active local presence, RiT will be able to win more business, taking full advantage of the opportunity to make Africa into one of its strongest regions.”

More Posts by this author

Post Written By: Oliver Crowne

Oliver Crowne is the main editor for http://www.StockPreacher.com


Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

You may also like...