Knobias ClipReport (6-27-2007)

Submitted from Knobias ClipReport.

Additional home price data was released that displayed what has come to be expected: home prices were falling. The surprise was that prices fell at their fastest rate in 16 years.

Another large piece of news was Apple’s pricing plans with AT&T regarding their iPhone set for release this month. Shares fell sharply after the announcement which was seen as being a bit high when adding the already high price of the phone itself.

In the small cap arena, solar plays were the highlight of the day, once again, with Hoku Scientific and Daystar Technologies being on the radar of many traders. The names saw large gains on heavy volume days though volume seemed to dry up after the noon hours which could be reason to believe their rallies could be decelerating.

Another name which caught some eyes was Tubearoo Inc. (TUBR). The shares were up over 30c, before falling 86c in intraday trade. Much of the volatility was speculated as being caused by a promotional email campaign which was halted. The name is a textbook example of the infamous pump and dump scam.

The Company, which doesn’t file with the SEC, has a YouTube like site with video content and a Digg.com like site with viewer rated worldwide news. Though the sites seem to be knockoffs of the originals, the Company does claim to have launched a mobile video providing service which it noted was in beta version.

An additional name which caught the eye was Orexigen Therapeutics Inc. (OREX). The Company is a biopharmaceutical focused on the development and commercialization of pharmaceutical products for the treatment of central nervous system disorders, with an initial focus on obesity.

The Company’s lead combination product candidates targeted for obesity are Contrave, which is in a Phase III clinical trial, and Empatic (formerly Excalia), which is in a Phase IIb clinical trial.

Orexigen has focused its clinical development programs on drug combinations that it expects will generate weight loss and attenuate, or limit the effect of, the pathways in the brain that prevent extended weight loss. The Company’s combination approach contrasts with most currently approved weight loss drug therapies, which utilize a single active ingredient and have typically shown early weight loss followed by a plateau after several months of treatment.

On Monday, the Company announced inclusion into the Russell 2000 Index which could give it a wider investor base which includes institutions as many have Russell 2000 inclusion as a requirement of potential investments.

With the recent news regarding data from a sub-study of its Phase IIb multi- center clinical trial of Contrave, the name could see some increased action over coming days. The data demonstrated robust improvements in both visceral fat and insulin resistance which was a major worry from some investors as the FDA’s heightened requirements are for a loss of visceral fat and not lean body mass. With more information expected on the candidates in the third quarter, the young name could be one to follow over the coming months. Investors would be wise to watch.