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Strategies & Market Trends : Contrarian Investing -- Ignore unavailable to you. Want to Upgrade?

To: pcyhuang who wrote (1201)	3/24/2007 10:44:08 PM
From: pcyhuang	Respond to of 4080

re: WSJ on Amgen "News that Amgen found poor survival rates in a trial for treating colorectal cancer has had the effect of hurting that stock and boosting ImClone shares dramatically. The latter was the most actively traded in premarket action, gaining 19.5% as analysts rushed to upgrade shares on the news. ImClone produces a colorectal cancer drug called Erbitux, and Amgen’s Vectibix drug was intended as competition. “We feel more confident in Erbitux’s abilities to meet or beat sales expectations after last night’s news,” say analysts at FBR. Amgen shares were down 3.6% in active premarket trading." -- WSJ pcyhuang