Up 31%: Why Pernix Therapeutics Surprised Investors

Shares of Pernix Therapeutics  (NASDAQ: PTX  ) soared 31% yesterday after the company revealed that it had bought the U.S. rights to GlaxoSmithKline's (NYSE: GSK  ) Treximet (which helps treat migraines in adults) for $250 million upfront (and some potential additional payments later). The importance of this purchase cannot easily be overstate for Pernix -- the company had $85 million in revenue last year, while Treximet on its own brought in $79 million -- and Pernix clearly sees some additional upside potential for the drug, whether it's through a potential indication expansion (to pediatric patients) or through synergies with Pernix's current salesforce.

Where could Pernix unlock additional value for the drug? In the video below, Motley Fool health care analysts Michael Douglass and David Williamson discuss Pernix's plans for the drug and how this deal jives with the company's current offerings.

Even with today's pop, can Pernix keep up with this top stock?
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Ketchum’s WSJ Comments on SRO Defeat Aren’t the Final Words, Watchers Say

Comments made by Richard Ketchum, CEO of the Financial Industry Regulatory Authority, to The Wall Street Journal Thursday that FINRA has “done the Sisyphus climb” to be given authority over investment advisors, and that FINRA doesn’t “perceive any likelihood that [such SRO attempts] would be successful” seemed to signal a new declaration of defeat by Ketchum.

But industry officials opine that Ketchum was merely addressing the lack of support in the current Congress for FINRA to become the self-regulatory organization for advisors, and that FINRA will indeed assess Congress’ appetite for such support in future legislative sessions.

Industry watchers keyed on Ketchum’s comment in the WSJ article that FINRA isn’t pursuing being the SRO for advisors “at the present time.”

“I think most folks watching this [SRO] issue would say it’s dead in this Congress,” says Duane Thompson, senior policy analyst at fi360. “Ketchum’s qualifying statement, ‘at the present time,’ suggests that the time may not be ripe for an SRO bill to advance this year in Congress, but that in future legislative sessions FINRA will continue to closely monitor the mood of Congress and its appetite for a new advisor SRO.”

Neil Simon, vice president for government relations at the Investment Adviser Association, agrees. “By stating that FINRA is not pursuing efforts to gain authority over advisors ‘at the present time,’ it is evident that FINRA has not abandoned its long-sought goal of extending its regulatory reach to advisors.”

Although FINRA may not be “actively lobbying on Capitol Hill right now,” Simon adds, the self regulator “is in for the long haul and it’s only a matter of time before they’ll be back.”

Ketchum told the Journal that Congress should provide the SEC with the resources necessary to boost advisor exams. The SEC has said it now can examine investment advisory firms once every 10 years on average. Ketchum told the Journal that scant oversight "creates issues from the standpoint of everything from classic Ponzi schemes to abuse."

Chris Paulitz, senior vice president of membership and marketing at the Financial Services Institute, adds that “as we have said for two years, Rick is right, and there is no political consensus on how to allocate greater resources towards increased investment advisor examinations.”

SEC Chairwoman Mary Jo White said in late March that there was “a crying need” for more resources to help the agency boost its examination of the nation’s investment advisors, and the agency has asked Congress for more money to do so.

This Relative Strength Play Is Ready to Explode

DELAFIELD, Wis. (Stockpickr) -- Lots of people freak out whenever markets are dropping like they are right now -- but not me. I get ridiculously excited!

>>5 Hated Earnings Stocks You Should Love

The reason I get excited when markets are getting hit hard by the bears is that when your trading screens are a sea of red, it's very easy to identify strong names that aren't being hit in the overall market weakness. These strong names are displaying relative strength, which is simply a measure of how strong a stock is compared with the overall market. The thinking here is that if the bears can't take a stock down when they're in full control of the markets, then that stock has potentially exhausted its sellers and the buyers are in control.

Wall Street has conditioned traders and investors to buy stocks that are going down during big market corrections. That strategy is not a wise one, unless the stock has found a bottom and has finished its downtrend. If you buy a stock that's displaying relative weakness in market drops, then you're going to get caught trying to catch a falling knife. A better way to approach market corrections is look for the stocks that aren't going down and are displaying relative strength. These names are often setting up to be the next big movers and for good reason: They have buyers.

>>3 Huge Stocks on Traders' Radars

A perfect example of this can be seen in the performance of Agios Pharmaceuticals (AGIO) today, which is soaring higher by 24% to over $44 a share. On Friday, as the market was hammered lower, shares of AGIO actually closed higher at $35.48, back above the stock's 50-day moving average of $35.03 and well above its intraday low of $31.42 a share. Now, to be fair, AGIO had big news today after the company reported that its blood cancer drug, AG-221, showed promising clinical activity. That said, it still wasn't going down on Friday, which was a signal that the stock had real buyers.

Other stocks hitting my scans that aren't going down on this solidly red day include American Apparel (APP), Acorda Therapeutics (ACOR), Sarepta Therapeutics (SRPT), Questcor Pharmaceuticals (QCOR) and J.C. Penney (JCP). All of these stocks are displaying relative strength intraday, so traders should now keep a close eye on how they close to see if the bulls remain in charge.

One stock that's really jumping out at me here that's displaying relative strength during this market weakness is Rocket Fuel (FUEL), a technology company that provides artificial-intelligence digital advertising solutions. Shares of FUEL are up about 1.7% on the day with volume that's tracking in pretty strong, since over 580,000 shares have traded vs. its three-month average volume of 683,332 shares.

Part of the reason that Rocket Fuel is moving higher today is due to the fact that BMO Capital upgraded the stock to outperform from market perform based on valuation. The firm said its price target of $58 a share will remain. That being said, I love this upgrade for a much better reason, which is the fact that shares of FUEL might be putting in a bottom here from a technical perspective.

If you take a glance at the chart for FUEL, you'll notice that this stock has been absolutely crushed over the last two months and change, with shares plunging lower from its high of $71.24 to its recent low of $38.12 a share. During that crash, shares of FUEL have been mostly making lower highs and lower lows, which is bearish technical price action. To put that drop into perspective, shares of FUEL have plunged over 30% over the last three months. That's a serious drop and anyone who has held the stock through that decline is in some serious pain.

One group that is very happy with the recent performance for FUEL is the short-sellers. The current short interest as a percentage of the float for FUEL is extremely high at 24.4%. That means that out of the 13.53 million shares in the tradable float, 3.31 million shares are sold short by the bears. This is a huge short interest on a stock with very low float.

>>5 Rocket Stocks Ready for Blastoff

I am normally not a big fan of brokerage upgrades or downgrades, but I like this call by BMO Capital for one major reason: the developing technical setup for FUEL. Shares of FUEL are potentially putting in a double bottom here at $37.81 to $38.12 a share. That $37.81 level is from last November and that $38.12 level is the intraday low the stock hit on Friday. If these levels hold as major support, then shares of FUEL could be an absolutely steal at current prices for the longer-term and a great trading play in the short-term.

Traders should now look for long-biased trades in FUEL as long as its trending above those double bottom support zones at $38.12 to $37.81 a share and then once it breaks out above some near-term overhead resistance levels at $42.50 to $45 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 683,332 shares. If that breakout triggers soon, then FUEL could easily bounce sharply higher and tag its 50-day moving average of $51.07 a share to even $55 a share.

Considering the low float and higher short interest combined with the potential double bottom for shares of FUEL, the bears might want to really consider covering their positions unless they can break the stock back below those double bottom support levels. If the bears can break the stock below the double bottom levels with volume, then all bets are off the bulls. However, a large short-squeeze rebound trade looks more likely to me considering how oversold the stock is and the fact it's displaying some relative strength today.

-- Written by Roberto Pedone in Delafield, Wis.

RELATED LINKS:

>>5 Stocks Poised for Breakouts

>>5 Toxic Stocks to Sell Now

>>Sell This Momentum Stocks Before It's Too Late

Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including

CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

Apple drops top Bitcoin app from marketplace

Apple has yanked Blockchain, a digital wallet app for bitcoins, out of its mobile marketplace without explanation.

NEW YORK (CNNMoney) Apple has pulled popular Bitcoin app Blockchain out of its mobile marketplace without explanation.

The Blockchain app, downloaded 120,000 times during its two years in Apple's iTunes App Store, was the most popular way for people and companies to transfer bitcoins from one another. Apple removed it from the store on Wednesday.

Blockchain immediately shot back with a statement, accusing Apple (AAPL, Fortune 500) of getting overly aggressive with future competitors. Apple is rumored to be developing its own mobile payment system.

"These actions by Apple once again demonstrate the anti-competitive and capricious nature of the App Store policies that are clearly focused on preserving Apple's monopoly on payments rather than based on any consideration of the needs and desires of their users," a spokesman for Blockchain said.

  Buy this $8M mansion with bitcoins

In its email alerting Blockchain of its decision, Apple referenced an "unresolved issue." But Apple didn't expand on that, and the company did not respond to a request for comment.

Bitcoin users are calling Apple a bully. Many are threatening to ditch iPhones and iPads for devices that run Google's Android. Blockchain is still available in the Google (GOOG, Fortune 500) Play Store.

"It is as if IBM (IBM, Fortune 500) would have banned email clients in the early 90's," said Michael Kondratov, president of the Aspire Auctions in Cleveland and Pittsburgh. Kondratov recently started allowing customers to bid on antiques and art using bitcoins.

"I feel Apple is no longer a 'rebel' company," he wrote in an email.

Related story: Zynga testing Bitcoin payments for games

Elizabeth Ploshay, a board member with the advocacy-focused Bitcoin Foundation, called it "truly upsetting" that Apple has distanced itself from the growing Bitcoin-using business community.

Blockchain's CEO, Nick Cary, noted that the company spent more than $100,000 developing the app. He said software developers are already working on making an HTML5 version that will work through all Internet browsers, including Apple's ! Safari. That would essentially render Apple's stand fruitless.

"They're on the wrong side of technology and history here," Cary said.

Apple hasn't yanked every Bitcoin-related app, though. Dozens still exist in its mobile marketplace as of Thursday morning.

The company's move is the latest event putting pressure on Bitcoin, which has grown in popularity because of its independence from government-controlled currencies. But Bitcoin maintains a stigma due to its frequent use in online drug markets like Silk Road.

Last week, U.S. law enforcement agents arrested the CEO of Bitcoin exchange BitInstant and charged him with laundering money for Silk Road customers. Additionally, lawmakers have called for increased regulation of Bitcoin in light of the currency's heightened privacy. Bitcoins can be traded without using names and are difficult to trace to individuals.

But bitcoins aren't just for drug dealers. Many legitimate businesses -- everything from Subway sandwich shops to barbers -- have adopted the digital currency.

One Month & Counting ‘Til Tax Time: IRS

The Internal Revenue Service has good news for taxpayers: The opening day for the 2014 filing season is Jan. 31, 10 days later than it first planned and one day later than a year ago.

(Deductions for charitable donations and other purposes to be included on 2013 tax returns, however, must be made by Dec. 31.)

In the wake of IT issues with Affordable Health Care Act, the IRS says it wants to have “adequate time to program and test its tax processing systems.” The federal agency, which relies on more than 50 systems to process about 150 million tax returns each year, says that its testing schedule was pushed back this fall due to the 16-day federal government closure.

“Our teams have been working hard throughout the fall to prepare for the upcoming tax season,” IRS Acting Commissioner Danny Werfel said in a press release. “The late January opening gives us enough time to get things right with our programming, testing and systems validation. It’s a complex process, and our bottom-line goal is to provide a smooth filing and refund process for the nation’s taxpayers.”

As in prior years, the IRS is asking taxpayers to use e-file or Free File as the quickest way to receive refunds.

The IRS recommends that taxpayers review the latest year-end tax planning information that’s now up on its website.

One document that’s full of details on tax-saving opportunities is Publication 17. The 292-page guide explains the American Opportunity Tax Credit for parents and college students, as well as the Child Tax Credit and Earned Income Tax Credit for low- and moderate-income workers.

Some of the tax changes for 2013 to keep in mind include:

The IRS says some software firms should begin accepting tax returns in January. They will hold those returns until the IRS systems open on Jan. 31.

 

 

Target Reports 40 Million Credit, Debit Cards May Have Been Hacked

By Hal M. Bundrick

NEW YORK (MainStreet) Your holiday shopping may have just taken an ugly turn. If you shopped at a Target store between November 27 and December 15 and used a debit or credit card, keep a close eye on your bank account. There's a good chance you've been hacked. Some 40 million cards accounts may be affected by an expansive security breach, according to a Target statement. The company has retained the services of a third-party forensics firm to assist in the investigation.

"Target's first priority is preserving the trust of our guests and we have moved swiftly to address this issue, so guests can shop with confidence. We regret any inconvenience this may cause," said Gregg Steinhafel, chairman, president and CEO of Target. "We take this matter very seriously and are working with law enforcement to bring those responsible to justice."

The popular national chain says the "issue has been identified and resolved." Unauthorized access to Target payment data potentially impacts purchases made at all of the 1,797 Target stores in the U.S. during the two and a half week period. "We began investigating the incident as soon as we learned of it," a statement on the Target Website says. "We have determined that the information involved in this incident included customer name, credit or debit card number, and the card's expiration date and CVV (the three-digit security code)." Consumers are urged by the company to keep a close eye on their accounts for signs of fraud or identity theft. Any suspicious or unusual activity should be reported to the financial institution that issued the credit or debit card. --Written by Hal M. Bundrick for MainStreet

LinkedIn's Earnings: What Investors Need to Know

Social-media job recruiter, LinkedIn (NYSE: LNKD  ) is reporting results later today. While the Street is still sifting through Apple's earnings report and eagerly awaiting results from LinkedIn's social-media brethren, Facebook  (NASDAQ: FB  ) , could investors be overlooking an opportunity with LinkedIn? What should LinkedIn investors know, and what can LinkedIn learn from Facebook?

Amazing revenue growth must continue
S&P's Capital IQ consensus estimates project LinkedIn to report revenue of $385.5 million, an amazing 53% higher than last year's quarter. Revenue growth is extremely important and will be watched closely; investors have been extremely bullish on LinkedIn's prospects and have bid the company up from a price-to-sales ratio of 12 to its current ratio of nearly 23. If LinkedIn doesn't hit this ambitious goal, it's possible we could see a large selloff.

Guidance is important too
In addition to reporting phenomenal revenue for this quarter, LinkedIn must provide positive guidance for next quarter and the upcoming year. While the current consensus revenue estimate is receiving the most attention, lost is the fact that analysts are expecting LinkedIn to increase this quarter's revenue by over 40% in the September 2014 quarter by reporting $544.8 million.

Here's why they will do both
In a nutshell, the answer is mobile: LinkedIn has an aggressive plan to build out its mobile network, even hosting its first Mobile Day on Oct. 23. CEO Jeff Weiner hailed mobile as a "game-changer" for LinkedIn's products and revenue.

Looking at the numbers one can understand why: Mobile users are 2.5 times as active as desktop-only users. And while LinkedIn is more than just a social-media advertising model (54% of its revenue is talent solutions—job postings—and another 20% is premium subscriptions), all three of its business divisions will benefit from a more engaged user base.

LinkedIn is aggressively attacking this new opportunity. In addition to the company redesigning its iPad app, it also announced Intro to attaches profile information about an email's sender. While there were grumblings about privacy and security, you can see how LinkedIn is aggressively targeting the mobile experience.

Why the sudden change of heart?
Many initially thought that LinkedIn should have continued to build its website around the desktop experience and wonder why LinkedIn decided to pivot to mobile. The answer? To paraphrase famous bank robber Willie Sutton, "because that's where the monetization is."

Facebook shocked investors by growing mobile revenue from nearly nothing to 41% of its total ad revenue in the company's second quarter. Mark Zuckerberg even stated in his call that he expected to have more revenue on mobile than on desktop. Facebook reports tomorrow, and many investors expect the monetization in mobile to continue.

Final Foolish thoughts
LinkedIn is a clear leader in this space and has become a must have for any career-oriented professional. Wall Street has high hopes for revenue growth, guidance, and monetization of mobile. LinkedIn has ambitious targets but appears to have a plan to meet those goals.

Social media investors need to watch this video
LinkedIn is a fantastic story, so much so that we can't cover it all in a single article. Find out what I can't say in this special video. LinkedIn is growing twice as fast as Google and Facebook, and more than three times as fast as Amazon.com and Apple. Watch our jaw-dropping investor alert video today to find out why The Motley Fool's chief technology officer is putting $117,238 of his own money on the table, and why he's so confident this will be a huge winner in 2013 and beyond. Just click here to watch!

Oracle Corporation (ORCL): Is Larry Ellison Being Overpaid?

The team of Larry Ellison, the founder and Chief Executive of Oracle Corporation (NASDAQ:ORCL), may have won the thirty-fourth America's Cup. However, it could be difficult for Ellison's corporate team to escape the discontent from shareholders, who are against higher pay packages for Oracle executives amid mixed results.

The shareholder angst comes as Oracle has reduced the compensation of all the key executives including Ellison who even turned down a bonus of $1.2 million for the past year as Oracle's growth missed expectations

The key reason for the shareholder displeasure stems from the stock option awards. They argue that Ellison, who beneficially owns a quarter of the company's shares, continues to receive tens of millions of dollars of stock options every year, despite Oracle's mixed financial performance. They could show their discontent at the business software maker's Oct. 31 annual meeting.

Oracle's first quarter profit rose 8 percent to $2.19 billion, or 53 cents ex-items and trumped analysts' estimates, but adjusted revenue of $8.38 billion fell short of expectations of $8.48 billion.

The CEOs of America benefit from exercised stock options and vested stock awards that normally account for more than 50 percent of executive pay. Those components of compensation are the reason these CEOs are on the list of highest-paid.

For the fiscal year that ended in May, Ellison got a compensation of $79.6 million, which includes a base salary of $1, bonus of $1,126 and stock options worth $76.9 million. The compensation represents a drop of 21 percent from $96.1 million he received last year. Despite the drop, Ellison is still one of the highest-paid CEOs in the U.S.

Safra Catz, President and Chief Financial Officer, received $44.3 million as compensation, a 17 percent decrease from $51.7 million last year. The package includes basic salary of $950 thousand, option awards worth $42.6 million and bonus of $717.2 thousand.

Even in 2012, Oracle suffered a defea! t over executive pay practices in 2012 and managed only a narrow win in 2011 despite Elliot's huge stake. Opponents included BlackRock Inc. and Vanguard Group Inc. Fifty-nine percent of shareholders rejected the company's pay practices at the last annual meeting in November.

The Compensation Committee and the rest of the Board were disappointed with the results of the fiscal 2012 Say-on-Pay vote. The company said the Compensation Committee believes Oracle's executive compensation philosophy and program achieve this goal in a manner that is appropriate for Oracle (and not necessarily other companies) and that significant changes to its executive compensation program were not warranted.

"The Compensation Committee realizes that certain of our stockholders may disagree with this conclusion, but the Compensation Committee believes that our executive compensation philosophy and the current structure of our executive compensation program are in the best interests of Oracle and its stockholders, and that, in the Compensation Committee's opinion, this belief has been validated by Oracle's historical financial and stock price performance over the long term," Oracle said in a recent regulatory filing.

This year investors could step up the pressure. CtW Investment Group, which works with pension funds sponsored by unions affiliated with Change to Win, is said to oppose Oracle's pay practices. CtW, which represents nearly 5.5 million members participate in Taft-Hartley plans with over $200 billion in assets, owns more than 5 million shares in Oracle via its pension funds.

The Wall Street Journal reported that CtW Investment Group, in a letter sent to Bruce Chizen, chairman of the Oracle board's compensation committee, said it would vote against the company's compensation practices and possibly seek to remove directors on the compensation committee if Oracle doesn't put caps on its options awards.

Interestingly, the CtW letter came the same day when Ellison was basking in the glory of h! is Americ! a Cup team's win. Investors and consumers alike were disappointed over the fact Ellison skipped his own keynote address at Tuesday's Oracle's annual conference for customers to cheer for Oracle Team USA.

CtW is a frequent critic of what it sees as excessive CEO pay, and its recent opposition to McKesson's (NYSE:MCK) executive pay practices is a proof of this. This time, CtW could get the support of mutual funds and institutional investors against Oracle.

A major drive by activists over Oracle's executive-pay levels will get considerable support from institutional investors this fall, the Wall Street Journal reported citing an official of one large mainstream money manager.

So, Oracle and Larry Ellison has a tough ask in front of them in getting approval for its pay practices at its annual meeting.

Batista’s OGX Faces Ibovespa Removal as Short-Sale Limit Raised

OGX Petroleo & Gas Participacoes SA, the oil company founded by Eike Batista that has dropped the most on the Ibovespa this year, faces removal from Brazil's benchmark index and the prospect of more bets against the stock.

BM&FBovespa SA (BVMF3) will exclude from the gauge any companies whose shares trade for less than 1 real (44 cents), the exchange operator said in a statement yesterday. The limit on equity lending for OGX, which has plunged 91 percent this year to 38 centavos in Sao Paulo, was raised to 50 percent of shares available for trading from 45 percent, the bourse said in a separate statement. Stock loans, used in short sales, climbed to 44.9 percent on Sept. 11, data compiled by Bloomberg show.

OGX's relative importance in the gauge has grown because of the index's reliance on trading volume for determining equity weightings. While the oil producer is the index's third-smallest company by market value, it has the third-biggest weighting of 73 Ibovespa stocks. OGX has been responsible for about half of the measure's 12 percent drop this year through yesterday as trading in the stock rose to all-time highs.

Market Cap

In addition to excluding penny stocks, the new methodology will determine company weights on the gauge by the free-float market value, adjusted for liquidity. Positions will be limited to 20 percent of the index, the bourse said.

"Using market capitalization and liquidity to calculate each stock's weighting on the gauge will make it easier for investors to replicate the index and will avert distortions," Eduardo Guardia, BM&FBovespa's investor relations director, told reporters today in Sao Paulo. "The new methodology provides a better representation of the companies that are present on the Brazilian stock market."

The index changes will be implemented in two steps starting in January 2014, and will be fully effective by May, BM&FBovespa said. The exclusion of penny stocks will be effective in January, according to Guardia.

While OGX, the most volatile stock in the 823-member MSCI Emerging Markets Index, was considered in the overhaul of Brazil's main stock gauge, the process was started before the stock's plunge overwhelmed the Ibovespa, according to BM&FBovespa's Chief Executive Officer Edemir Pinto.

Pre-Operational

Batista, whose $34.5 billion fortune in early 2012 made him the world's eighth-richest person, ceased to be a billionaire in July, according to the Bloomberg Billionaires index. All six companies that Batista listed since 2006, which have dropped as much as 93 percent this year, came to the market in pre-operational stages.

"Pre-operational projects represent an opportunity, but investors will be more cautious about these companies now," Pinto said today.

A committee of exchange executives, banks and brokerages developed the changes to the benchmark index. BM&FBovespa said on its website that it hadn't made changes to the gauge's methodology since its inception in 1968. LLX Logistica SA (LLXL3), the shipping unit that Batista founded, is the second-lowest priced stock on the Ibovespa after dropping 36 percent this year to 1.53 reais.

Pacific WebWorks, Inc. Business Update (OTCBB:PWEB, OTCMKTS:CLNO)

Pacific WebWorks, Inc. (PWEB)

Today, PWEB remains (0.00%) +0.000 at $.0231 with 1,000 shares in play thus far (ref. google finance Delayed: 9:30AM EDT July 16, 2013).

Pacific WebWorks, Inc. previously reported the following business update. For the first six months of 2013 the Company has focused on revitalizing its internet technology business model. As previously reported, Pacific WebWorks has expanded its software suite and established a framework for reaching new markets with its software products. The Company believes there is strong demand for its products and is aggressively pursuing the opportunity to obtain new customers through a variety of marketing methods.

Lance Bell, CEO, stated, "We are excited to report a number of accomplishments during the first six months of 2013. We have rounded out our management team, finalized our infrastructure and have begun to market our software products. We are encouraged by the initial results of these efforts."

Pacific WebWorks, Inc. (PWEB) 5 day chart:

Cleantech Transit, Inc. (CLNO)

Cleantech Transit, Inc. (OTCMKTS:CLNO) (www.cleantechtransit.net ) through its Discovery Carbon subsidiary, develops emissions offset strategies for companies, municipalities, and countries. Today, CLNO has surged (+18.00%) down +0.022 at $.147 with 95,318 shares in play thus far (ref. google finance Delayed: 11:26AM EDT July 16, 2013), but don't let this get you down.

CLNO's daily range is at ($.1475 – $.12) thus far and currently at $.147 would be considered a (+13263.63%) gain above the 52 wk low of $.0011. The stock is up +7275% since the concerning dates of January 17, 2013 – July 16, 2013. +7275% is the 6 month high and rightly so.

Cleantech Transit, Inc. (CLNO ) 5 day chart: