Madison Square Garden SETTLED Dispute and 4 Hot Stocks To Watch

Affymax, Inc. (NASDAQ:AFFY):  Shares of Affymax, Inc. are trading  at 0.73% lower today.

Peregrine Pharmaceuticals (NASDAQ:PPHM):  Peregrine Pharmaceuticals has announced the initiation of an investigator-sponsored trial, or IST, for patients with stage II or stage III rectal Adenocarcinoma. This open-label Phase I trial will treat up to 18 patients with Bavituximab, Peregrine’s investigational monoclonal antibody, in combination with Capecitabine, the chemotherapeutic agent, as well as radiation therapy. Bavituximab, is a Phosphatidylserine ( PS,-targeting antibody), that has also demonstrated a promising tumor response and survival trend in randomized Phase II,  non-small cell lung cancer, or NSCLC, trials. Shares of Peregrine Pharmaceuticals are trading at 3.3% higher today.

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Citigroup Inc. (NYSE:C): Citigroup’s total allowance for loan losses was $27.6 billion at the end of the quarter, this was 4.3% of total loans, as compared to $34.4 billion, or 5.4%, in the prior year period. The $984 million net release of loan loss reserves, was down 50% from the prior year period. Reserve releases in Citicorp of $715 million and in Citi Holdings of $269 million were 49% and 54% lower, than the second quarter 2011. Corporate non-accrual loans fell 47% to $2.6 billion and consumer non-accrual loans fell 1% to $8.3 billion. Consumer loans that were 90+ days delinquent, excluding the Special Asset Pool, fell 14% versus the prior year period of $8.4 billion, or 2.1% of consumer loans. Shares of Citigroup Inc. are trading 1.43% higher today.

The Madison Square Garden Co (NASDAQ:MSG): Ticket prices surged, as Madison Square Garden Co. (NASDAQ:MSG), settled a carriage-fee dispute with Time Warner Cable Inc. Their shares are trading at 1.48% lower today.

Piedmont Natural Gas Company Inc. (NYSE:PNY): Shares of Piedmont Natural Gas Company Inc. are trading at 0.93% lower today.

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