MYGN, BEAT, SKBI, AIG, BPI. Abnormal Price Friction In Morning Trading Session Today
July 1, 2009 / M2 PRESSWIRE / BUYINS.NET, www.buyins.net, announced today its proprietary Market Maker Friction Factor Report for July 1, 2009. Since late October market makers are now required to be on the bid as much as they are on the offer and for like amounts of stock. This afair market makinga requirement is designed to prevent market makers from manipulating stock prices. Here is a list of the companies with Abnormal Price Friction (unfair market) in their stock prices in todaya�s trading session. This means that there was more buying than selling in the stocks and their stock prices dropped. Myriad Genetics (NASDAQ: MYGN), CardioNet (NASDAQ: BEAT), Skystar Bio Pharmaceuticals (NASDAQ: SKBI), American International Group (NYSE: AIG) and Bridgepoint Education (NYSE: BPI). To access Friction Factor, Naked Short Data and SqueezeTrigger Prices on all stocks please visit http://www.buyins.net .
Market Maker Friction Factor is shown in the chart below:
Symbol Change % BuyVol Buy% SellVol Sell% NetVol Friction
MYGN -$8.69 -24.38% 2,767,453 50.14% 2,593,831 46.99% 173,622 abnormal
BEAT -$6.20 -37.99% 5,059,107 51.69% 4,584,384 46.84% 474,723 abnormal
SKBI -$3.82 -21.29% 226,462 55.73% 178,359 43.89% 48,103 abnormal
DTO -$3.26 -4.38% 179,624 50.96% 171,429 48.64% 8,195 abnormal
AIG -$2.44 -10.52% 6,052,800 38.21% 5,750,846 36.31% 301,954 abnormal
BPI -$0.71 -4.18% 30,993 41.06% 29,586 39.20% 1,407 abnormal
Click here to view chart:
Analysis of the Friction Factor chart above shows that each of the stocks mentioned above had more buying than selling on Wednesday, July 1st, 2009 and their stock prices dropped. The Friction Factor displays how many more shares of buying than selling are required to move a stock higher by one cent or how many more shares of selling than buying moves a stock lower by 1 cent.
For example, the chart above shows MYGN with 173,622 greater shares of buying than selling (NetVol) and the stock price is down -$8.69. This means the Market Makers were trading the stock in a way inconsistent with normal supply and demand (Economics 101); more buying than selling should cause prices to rise.
Myriad Genetics, Inc. (NASDAQ: MYGN), a healthcare company, engages in the development and marketing of molecular diagnostic and therapeutic products. Its products include BRACAnalys for assessing a womana�s risk for breast and ovarian cancer; COLARIS molecular for assessing a persona�s risk of developing colorectal cancer or uterine cancer; COLARIS AP, a molecular diagnostic product for colon cancer that detects mutations in the APC and MYH genes; MELARIS, which analyzes mutations in the p16 gene to determine genetic susceptibility to malignant melanoma, a skin cancer; and THERAGUIDE 5-FU that analyzes mutations in the DPYD gene and variations in the TYMS gene to assess patient risk of 5-FU toxicity and guides physician dosing decisions. The company markets its products through its own sales force in the United States and through marketing collaborations internationally. It is also developing Azixa, a phase II drug candidate for solid primary and metastatic brain tumors; Vivecon, a phase I preclinical drug candidate for AIDS; MPC-2130, a phase I drug for hematologic cancers; MPC-3100, a late stage preclinical drug for the treatment of cancer; and MPC-0920, a phase I drug for thrombosis. The company was founded in 1991 and is headquartered in Salt Lake City, Utah.
CardioNet, Inc. (NASDAQ: BEAT) provides ambulatory, continuous, real-time outpatient management solutions for monitoring relevant and timely clinical information regarding an individual's health in the United States. It offers Mobile Cardiac Outpatient Telemetry (MCOT) device, which incorporates a patient-worn sensor attached to electrodes that capture two-lead electrocardiogram (ECG) data and communicates wirelessly with a compact monitor that analyzes incoming information by applying proprietary algorithms designed to detect arrhythmias and eliminate data noise. Its MCOT device automatically transmits the ECG data to the CardioNet Monitoring Center, when the monitor detects an arrhythmic event. The company also offers Holter monitoring services that store an image of the electrical impulses of every heartbeat or irregularity in either digital format on an internal compact flashcard or in analog format on a standard cassette tape located inside the monitor; and event monitoring services to record and store approximately 540 seconds of ECG signal, as well as pacemaker monitoring services. It markets its arrhythmia monitoring solutions, including the MCOT, primarily to cardiologists and electrophysiologists. The company was incorporated in 1994 and is headquartered in Conshohocken, Pennsylvania.
Skystar Bio-Pharmaceutical Company (NASDAQ: SKBI) engages in the development, manufacture, and distribution of medicines, vaccines, and other health care and medical care products for poultry, livestock, and domestic pets in the Peoplea�s Republic of China. The company is headquartered in Xian, the Peoplea�s Republic of China.
American International Group, Inc. (NYSE: AIG), through its subsidiaries, provides insurance and financial services in the United States and internationally. It operates in four segments: General Insurance, Life Insurance and Retirement Services, Financial Services, and Asset Management. The General Insurance segment underwrites various business insurance products, including large commercial or industrial property insurance, excess liability, inland marine, environmental, workersa� compensation, and excess and umbrella coverages. It also offers various specialized forms of insurance, such as aviation, accident and health, equipment breakdown, directors and officers liability, difference-in-conditions, kidnap-ransom, export credit and political risk, and professional errors and omissions coverages. In addition, this segment provides property and casualty reinsurance products to insurers; automobile insurance products; residential mortgage guaranty insurance products; and commercial and consumer lines of insurance products. The Life Insurance and Retirement Services segment offers individual and group life, payout annuities, endowment, and accident and health policies, as well as retirement savings products consisting of fixed and variable annuities. The Financial Services segment provides commercial aircraft and equipment leasing, capital market operations, consumer finance, and insurance premium financing. The Asset Management segment offers investment-related services and investment products to individuals, pension funds, and institutions. The company was founded in 1967 and is based in New York, New York.
Bridgepoint Education, Inc. (NYSE: BPI) provides postsecondary education services. It offers associatea�s, bachelor's, master's, and doctoral programs in the disciplines of business, education, psychology, social sciences, and health sciences. The company offers its programs at campuses located in Clinton, Iowa, and Colorado Springs, Colorado, as well as through online. As of September 30, 2008, it provided 760 courses and 41 degree programs with 37 specializations and 21 concentrations. The company was founded in 1918 and is headquartered in San Diego, California.
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