New York, NY – (NISMAGAZINE) –07/19/2013- Galena Biopharma Inc (NASDAQ:GALE) fell 1.11% at $1.78 after trading 1.53 million shares. During the day the stock traded in the range $1.77 – $1.83 and the last 52 weeks in the range $1.23 to $3.00. The stock continues to tread lower, and on the weekly chart the stock has plunged through both its 200-week and 50-week moving averages. There is no sign of any bull support emerging, even though the company provided a fairly optimistic update on its product pipeline at ASCO last month.
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Tellabs, Inc. (NASDAQ:TLAB) closed unchanged at $2.18 after trading 1.49 million shares. The company is a provider of mobile backhaul, packet optical, business and services solutions and applications to top global communications service operators. The company announced last week that it had agreed with SeleSoft Consulting Srl (a B.Soft Group Company), a leading ICT systems integrator, for the resale of Tellabs® 7100 Packet Optical Transport System into the Italian market. The stock was downgraded Tuesday to Underperform by analysts at Zacks, citing weak guidance for Q2, decline in revenue, suspension of dividend and slowing growth in sales of the high-margin digital cross-connect products.
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