Saturday, October 27, 2012

3 Cheap, Hot Stocks in Focus; SIRI, OREX, DRYS

Sirius XM Radio Inc. (NASDAQ: SIRI) will announce its fourth-quarter and full-year 2010 financial results Tuesday, February 15, 2010. Ahead of the fourth-quarter earnings announcement, Sirius shares have been picking up momentum. In the last five trading sessions, Sirius shares gained 10.83%.

In today�s trading, Sirius shares reached a 52-week high of $1.80, and at last check, they were up 2.29% to $1.79, with volume at 42.34 million. Sirius shares have a 52-week range of $0.79-$1.80. In the last one year, Sirius shares gained 108.13%.

New York City-based Sirius XM Radio is a satellite radio company. The company recently became the first company in satellite radio history to surpass 20 million subscribers.

Orexigen Therapeutics Inc. (NASDAQ: OREX) shares last Tuesday plunged almost 70% after the company�s weight management drug Contrave� received a negative response from the U.S. FDA. However, since then Orexigen shares pared some of the losses.

In today�s trading, Orexigen shares are soaring. The small-cap stock reached a high of $4.15 in mid-day trading, and at last check, it was up 10.13% to $3.97, with volume up from daily average of 9.95 million. The stock gained 48.18% in the last three trading sessions. Orexigen shares have a 52-week range of $2.47-$11.15.

San Diego, California-based Orexigen Therapeutics is a biopharmaceutical company focusing on the development of product candidates for the treatment of obesity.

DryShips Inc. (NASDAQ: DRYS) last month announced that its subsidiary Ocean Rig UDW Inc. signed into firm contracts with Cairn Energy PLC for the Leiv Eiriksson and the Ocean Rig Corcovado for a period of almost six months each. The two contracts are worth around $237 million.

DryShips shares have a 52-week range of $3.28-$6.82. The stock is currently trading below its 50-day and 200-day moving averages. In the last one year, DryShips shares fell 5.6%.

Athens, Greece-based DryShips is engaged in ocean transportation services.

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