Traders Recap: Spectrum Pharmaceuticals, Applied Materials, Yahoo, Ciena Corporation

Lakeway, TX -- (SBWIRE) -- 03/15/2013 -- Bestdamnpennystocks, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

Spectrum Pharmaceuticals, Inc.(NASDAQ:SPPI) shares decreased 1.92% to $7.66. The compaany this week announced that it has gained global development and commercialization rights to Ligand Pharmaceuticals' (NASDAQ: LGND) Captisol-enabled®, propylene glycol-free (PG-free) melphalan. Captisol-enabled melphalan is currently in a pivotal trial for use as a conditioning treatment prior to autologous stem cell transplant for patients with multiple myeloma.

Additionally, the company on Mar. 12, said full-year sales would fall far short of analysts’ estimates. Annual 2013 revenue will be $160 million to $180 million. Analysts anticipated total revenue of $297 million. The company said sales of its top product, Fusilev, will be $80 million to $90 million.

How Should Investors Trade SPPI The Recent Movement? Find Out Here

Applied Materials, Inc.(NASDAQ:AMAT) shares fell 2.12% to $13.39. The company, on Mar. 11, announced that it was named by the Ethisphere Institute, the leading business ethics think-tank, as one of the 2013 World's Most Ethical Companies. According to Ethisphere, Applied secured a hard-earned spot on the list by promoting a culture of integrity and business practices that are instrumental to the company's success, benefit the community, and raise the bar for ethical standards within its industry.

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Yahoo! Inc. (NASDAQ:YHOO) stock jumped 1.87% to $22.01. The company’s CEO Marissa Mayer thinks the company will be able to please more people with fewer smartphone applications. Mayer told an audience of investors during a presentation recently that she thinks Yahoo will be better served with just 12 to 15 mobile applications, down from a "scattered" portfolio of as many as 75 different programs in recent years.

Is YHOO a Buying Opportunity After The Recent Plunge? Don’t Miss Out Our Latest Report Here

Ciena Corporation (NASDAQ:CIEN) stock fell 0.41% to $17.03. The company, on Mar. 14, announced that Reliance Globalcom, a global provider of managed network and communication services for multinational enterprises and carriers, is upgrading its trans-Atlantic FA-1 South submarine network with Ciena's GeoMesh solution.

Additionally, the company, on Mar. 7, said its first-quarter GAAP net loss was $47.32 million, from last year's $47.7 million loss, with three-month loss per share reducing to $0.47, from $0.49 a year back. On a non-GAAP basis, Ciena's adjusted net income totaled $12.3 million, or $0.12 per share in the recent quarter. Analysts expected loss per share of $0.14 for the quarter. Quarterly revenue stood at $453.1 million, compared with last year's $416.7 million. Analysts estimated revenues of $449.14 million for the quarter.

How Should Investors Trade CIEN After The Latest Earnings Report? Find Out Here

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