Arena Pharma’s VOLATILITY and Tam S.A.’s New Height

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Arena Pharmaceutical’s (NASDAQ:ARNA) volatility continued leading up to an FDA decision on the firm’s lorcaserin diet drug this week (June 27th). Shares had risen by 39 percent during the week, and posted an 11 percent gain on Thursday, yet dipped into Friday’s close. They have traded between $1.23 and $11.71 during the last 52 weeks.

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Tam S.A. (NYSE:TAM) meets the delisting condition for its deregistration as a public company in Brazil, as 99.9 percent of its shares that participated in the exchange offer agreed with the move. The tendered shares, along with the shares committed by the controlling shareholders of TAM comprise 95.9 percent of the total shares of the company. At the same time, LAN Airlines (NYSE:LFL) and TAM will still operate under their existing brands, providing the same excellent service and quality that sets them apart. TAM shares have traded between $13.85 and $25.82 during the last 52 weeks.

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