SOURCE: Equity News Circuit

Equity News Circuit

May 09, 2013 08:00 ET

Squawk Box Stocks Reports on: J. C. Penney Company, Inc. (NYSE: JCP), ValueClick, Inc. (NASDAQ: VCLK), Alexza Pharmaceuticals Inc. (NASDAQ: ALXA), Affymax, Inc. (NASDAQ: AFFY)

Note to Editors: The Following Is an Investment Opinion Being Issued by the Equity News Circuit

NEW YORK, NY--(Marketwired - May 9, 2013) - J. C. Penney Company, Inc. (NYSE: JCP), ValueClick, Inc. (NASDAQ: VCLK), Alexza Pharmaceuticals Inc. (NASDAQ: ALXA), Affymax, Inc. (NASDAQ: AFFY).

J. C. Penney Company, Inc. (JCP) saw shares advancing 7.38% or $1.21 per share to close at $17.61 on volume of 28,781,252 shares traded during Wednesday's trading session. Shares of J.C. Penney rose on Wednesday as an analyst said that the struggling retailer's return to discounting should drive traffic back into stores and lead to more sales. Rick Snyder of Maxim Group LLC lifted J.C. Penney Co. to "Hold" from "Sell" and lifted its price target to $16.50 from $10. The upgrade comes one day after the department store operator announced that its first-quarter revenue will likely fall 16 percent and pointed a finger at prior leadership for part of that shortfall. With such a large short position find out what to expect next from the struggling retailer in our exclusive research report at: http://squawkboxstocks.com/reports/JCP

ValueClick, Inc. (VCLK) saw shares declining 15.85% to close Wednesday's trading session at $26.71 on volume of 9,606,849 shares traded. Shares of ValueClick slumped nearly 16 percent Wednesday after the digital marketing company just shy of Wall Street revenue expectations for the first-quarter, as did its outlook. Cantor Fitzgerald stripped the company its buy rating and cut its price target. Revenue increased 13 percent to $165.4 million, but that was short of the $166.7 million analysts had projected, according to a poll by FactSet. ValueClick forecast second-quarter adjusted earnings between 38 and 40 cents per share on revenue in a range of $164 million to $168 million. Find out what to expect next from ValueClick following the latest earnings report in our exclusive research report at: http://squawkboxstocks.com/reports/VCLK

Alexza Pharmaceuticals Inc. (ALXA) saw shares advancing 22.07% or $0.96 per share to close Wednesday at $5.31 on volume of 8,955,101 shares traded. Shares of the pharmaceutical company jumped Wednesday after the company said Teva Pharmaceutical Industries Ltd., one of the world's largest drug companies, will market its agitation drug Adasuve in the U.S. Teva will be responsible for all U.S. commercial and clinical-related activities, including a required post-approval study. Teva will also have the right to study the drug as a treatment for other neurological disorders. Alexza, of Mountain View, Calif., will manufacture the drug and supply it to Teva. The Israeli company will pay Alexza $40 million upfront and it could make another $195 million in milestone payments based on completion of post-approval studies and sales targets. Alexza will also receive royalties on sales of the drug, and Teva will lend Alexza up to $25 million to support Adasuve activities over the next five years. Find out what to expect next from Alexza following this positive announcement in our exclusive research report at: http://squawkboxstocks.com/reports/ALXA

Affymax, Inc. (AFFY) saw shares advancing 25.22% or $0.29 per share to close Wednesday at $1.44 on volume of 40,760,570 shares traded. Shares of the biopharmaceutical company have gained 80% as traders continue to speculate on a potential reversal following heavy losses. Will traders continue to push shares of Affymax higher or will profit takers put an end to the recent two day winning streak? Find out what to expect next from Affymax in our exclusive research report at: http://squawkboxstocks.com/reports/AFFY

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A third party, Winning Media LLC has paid Equity News Circuit five hundred dollars for the publication of this news release. Neither Equity News Circuit, nor the hiring party, has a financial relationship with any company whose stock is mentioned in this release. Neither Equity News Circuit nor the hiring party are a registered investment advisor, and nothing in this report is intended as a solicitation to buy or sell any security.

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