Shares of Transition Therapeutics (NASDAQ:TTHI) climbed this morning after presenting Phase 1 data with Elan (ELN) at the 2009 Alzheimer's Association International Conference. The data showed that when Alzheimer drug ELND005 was taken orally, it was able to acheive the desired concentration levels in human brain tissue.
In trading this afternoon, shares of Transition Therapeutics gained almost nine percent on relatively heavy volume.
Longbow Research came out this morning with a note to clients upgrading shares of Trinity Industries (NYSE:TRN) from Neutral to Buy. With the upgrade, the firm set a price target of $15.50 per share. Shares of Trinity have fallen more than twenty percent since early June, prompting the upgrade from Longbow.
Investors responded to the upgrade, sending shares up more than twelve percent so far today.
And 3X Financial Bull ETF (AMEX:FAS) was on the move this morning as the financial sector charged forward by almost eleven percent. The initial spark came when Meredith Whitney upgraded Goldman Sachs (NYSE:GS) this morning, but the entire sector responded, sending the volatile ETF higher.
Helping matters are the upcoming earnings for Bank of America (NYSE:BAC) and CitiGroup (NYSE:C) later this week. Investors seem to be buying the rumors, but check back later this week to see if they sold the news.
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