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Pinnacle Digest: Development of Drug Fluvastatin Spurs Review
www.PinnacleDigest.com is a performance-driven online financial magazine with a consistent and disciplined approach to the market. With our growing network of experienced professionals we strive to bring investors the only multi-dimensional online investing magazine. Recent news from Orbus Pharma Inc. has led to further research by our team in order to determine if we will select them as our next Featured Company. Pinnacle members will be notified if we select them as our next equity target. On Friday the 25th of January we announced our first featured company of 2008. Although the Canadian markets are our focus at Pinnacle Digest they are directly related to the American markets, which is why we research both equally.
Orbus Pharma Inc. experienced a 5.36% jump in share value Wednesday coupled by 12,000 shares traded. On February 6th they announced the successful bioequivalence results on the "Fasted" study for their drug development of a once per day formulation for FLUVASTATIN. This has immediately caught the attention of our researchers at Pinnacle Digest and has warranted a review by our team. Our team at Pinnacle Digest is very interested in this new drug, as we feature and review very few pharmaceutical companies.
It should be noted that the Fluvastatin extended release ("XR") tablets, are a cholesterol reducing drug. This is of great interest to our team at Pinnacle Digest. Our purpose is to inform our members of breaking news across the markets, while researching specific companies in detail. We will be focused on Orbus's immediate future advancement of this drug as well as their position within the sector most influencing their success. The continuation of this article and information beneficial to the mining market can be viewed on our multi-purpose online financial magazine, at www.pinnacledigest.com.
US stocks fell Wednesday for the third day on weak retail sales reports and a signal from the Fed that another rate cut is unlikely. On Tuesday stocks plummeted following news that the service industry contracted at the fastest pace since 2001. On Monday a very different sentiment was present as all stock indices declined after analysts told investors to sell American Express Co. and Wells Fargo & Co. Excluding yesterday, the current rise comes after the Fed cut interest rates twice in 9 days, the first was the largest interest rate cut in 23 years followed by a second cut Wednesday afternoon of 0.50 points. The TSX Composite dropped 64.75 points to close at 12,867.20 after rising 3.3% last week.
The interest rate in the United States has been dropped to 3%. This for the moment is overshadowing the first decrease in jobs since 2003 accompanied by the largest yearly decline in home sales ever recorded. President George Bush recently proposed up to $150 billion in tax rebates and incentives to ward off a recession. His plan in late 2007 to freeze mortgage rates had little to no affect and his most recent tax rebate claims have not had an affect yet. The Fed, the President and now Congress have come together to do whatever they can to avert a full blown recession. The Dow Jones added an amazing 4.4% to its value last week, but has fell over 450 points to start this week and lost another 65 points Wednesday to close at 12,200.10.