Boston, MA 10/16/2014 (wallstreetpr) – Energy Transfer Equity LP (NYSE:ETE) saw its stock post a healthy 9.2 percent upward rally during trading on 15th October. The stock was trading at $52.25 per share at day’s closing. The big surge was accomplished on the back of upgrade the stock was awarded by analysts at Robert W. Baird. The analysts have upgraded the stock from Neutral to outperform benchmark. The move essentially reverses the downgrade issued by the same analysts in January of this year.
Abraxas Petroleum Corp. (NASDAQ:AXAS) announced yesterday that it will be hosting its third quarter 2014 earnings conference call on November 5. It would be sharing the operational results for the corresponding quarter before the conference call, the press note issued by the firm indicated. The crude oil producer which has its operations spread across the Gulf Coast regions in U.S and in Alberta had last reported its 2Q14 earnings on 6th August.
Stock of biopharmaceutical firm Arrowhead Research Corp (NASDAQ:ARWR) saw a 10 percent increase in its share price during trading on 15th October after the firm’s President and CEO, Christopher Anzalone, Ph.D, released a reassuring letter to company share holders.
The letter became necessary after the investor confidence in the company was shaken badly due to the worse than expected Hepatitis B vaccine news that was released by the firm. In the letter the chief executive takes pains to underline that the company was taken by surprise at the huge negative reaction from the market to its drug target ARC-520 Phase 2a study.
In order to take the investors into his confidence, he went on to restate the goal of the phase 2 test was to “identify a dose of ARC-520 capable of achieving HBsAg reduction.” He went on to reassure investors that the test result findings were “modest” and “moderate” to the company.