Boston, MA 02/13/2014 (wallstreetpr) – Galena Biopharma Inc (NASDAQ:GALE)’s stock continued its downward spiral after it was disclosed that a leading financial website removed two articles promoting the company’s shares. It appears that both the articles were written by the same person using different aliases. The same website had earlier removed articles of the company for the same reason. It appears that Galena Biopharma Inc (NASDAQ:GALE) was using a professional company to promote its stocks. Once the prices peaked, insiders made money by monetizing their investments. The stock lost more than 16% of its value yesterday. The company is developing a pipeline of oncology treatments.
SunEdison Inc (NYSE:SUNE)’s stocks were hit by news that it will not be restarting its polysilicon facility in Italy. The company had closed the manufacturing facility in December, 2011 itself as part of a restricting plan. The plan was aimed at cost cutting in order to improve competitiveness. In spite of exploring numerous options, SunEdison Inc (NYSE:SUNE) found that the plant could not function economically and has finally decided to close it down indefinitely. The closure will affect 200 employees. SunEdison is also expected to the associated electronic grade TCS operations affecting 35 employees. Besides this, the company is also seeking to consolidate the semiconductor crystal operations.
Barrick Gold Corporation (USA) (NYSE:ABX) is expected to release its quarterly report today. Not much is expected and investors are preparing themselves for another round of bad news. The company’s aggressiveness during gold’s bull run is now coming back to haunt its present. During the ‘golden’ period, Barrick Gold Corporation (USA) (NYSE:ABX) had embarked into costly acquisitions and very ambitious mining projects. Many of the projects are now over budget and the continued slump in the gold prices mean that their economic viability is in question. The stock has fallen by more than 3% during Wednesday’s trading but recovered more than 1% during pre-market trades.
