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Strategies & Market Trends : Trend Setters and Range Riders
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To: 2MAR$ who wrote (5178)5/18/2001 12:48:29 PM
From: 2MAR$  Read Replies (1) of 5732
 
DJN: =DJ Orchid Bio Up -3: Co Says Market Looking At 1Q Results


Traders concur that Merck's deal opens the door for Orchid and other small,
genomics-related companies to be snapped up. Genomics stocks have been hot
issues in the past year, since government-backed and private efforts
completed the mapping of the human genetic code. Sequencing of the code has
been touted as the stepping stone to the development of new drug therapies.
Orchid's stock movement Friday supersedes the rest of this group. With fears
of a large overhang stock through a secondary offering quelled, Orchid has
become more attractive, Tenthoff said.
Then there's the company's reduced bottom line losses. The company posted
first-quarter net losses of 34 cents a share on May 10, compared with a
$40.30 a share loss it reported in the first quarter last year.
Lindheim, the company spokeswoman, speculated that investors may finally be
absorbing the good news Friday.
"It's been going up steadily since then," Lindheim said. "But there's
nothing we can attach to the very active activity."
Other analysts said they knew of no new fundamentals that spurred Friday's
movement.
-By Hollister H. Hovey, Dow Jones Newswires; 201-938-2007;
hollister.hovey@dowjones.com
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