Peregrine Pharmaceuticals Spiked Up Sharply (PPHM, VRNG, STP, TRN)

Peregrine Pharmaceuticals(NASDAQ:PPHM) suddenly saw a sharp spike up and the stock move up to five-year high on solid interim results Phase II trials show the combined use of its bavituximab drug candidate with chemotherapy drug docetaxel had a statistically significant improvement in the overall survival rate for lung cancer patients. The interim data showed a statistically significant improvement in overall survival and a doubling of median overall survival (OS) in the bavituximab-containing arms compared to the control arm.

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Vringo, Inc.(NYSEAMEX:VRNG) shares soared 8% to $3.56 on hefty volume in response to a column from SA's Icarus Falling. The author is skeptical of arguments Google could get a summary judgment that would dismiss Vringo's suitagainst the search giant on account of prior art. Though a trial is scheduled to start on Oct. 15, Google still hasn't requested a summary judgment, and a Feb. 15 scheduling order suggests the district court handling the case isn't inclined to grant one. 

Suntech Power Holdings Co., Ltd. (ADR)(NYSE:STP) plunged 6.10% to $0.732  after announcing sales chief Andrew Beebe has resigned for "personal reasons," and that the company doesn't intend to hire a replacement (regional heads will now report directly to CEO David King). Beebe's departure comes 3 weeks after chairman Zhengrong Shi resigned as CEO in response to revelations the solar module firm may have been defrauded of $662M.

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Trinity Industries, Inc.(NYSE:TRN) jumped 4.70% to $30.97 after saying its purchased certain property, plant and equipment of DMI Industries from Otter Tail Corporation for approximately $20M. The assets consist primarily of approximately 665K square feet of heavy manufacturing capacity and equipment located in North Dakota, Oklahoma, and Ontario, Canada.