Early Hour Stock Movers (CTIC, BP plc, OREX)

Cell Therapeutics, Inc. (NASDAQ:CTIC) shares are trading up by 25% to $0.40 after plunging about last week. Although there is no official news out today, but it looks like traders are playing this stock on the back of strong technical rebounding. Over the past few sessions, we are noticing that CTIC has been seeing buying pressure once it touched 0.30’s levels. But, it would be interesting to see if the stock would be able to close above $0.50 which is its 200-day Moving Average.

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Over the past one year, the stock has plunged over 72% and is off about 78% from its 52-week high of $1.90. The stock has a 52-week range of $0.12-$1.90.

Cell Therapeutics, Inc., a biopharmaceutical company is engaged in the development, acquisition and commercialization of the drugs for treatments for cancer.

BP plc (ADR) (NYSE:BP), one of the popular stock for its oil leakage, are moving up by 1.63% to $27.46. Today, the British Oil giant said that its costs of cleaning up the oil spill has risen to $$2.65 billion, compared to its earlier reported costing of $2.35 billion last Friday.

The firm, whose market capitalization has lost more than $100 billion since the spill, has also suspended dividend payments to its shareholders for the rest of the year. The shares hit a 14-year low in the previous session.

Also, this weekend, Times newspaper reported that the company may be able to plug the leaking well within next fortnight, better than the earlier estimation.

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Orexigen Therapeutics, Inc. (NASDAQ:OREX) shares climbed 14.46% to $4.75 in the opening session after the company said it has achieved significant for its Contrave®,  improvements treatment in depressive symptoms that was accompanied by weight loss and improved control of eating in overweight and obese patients with major depression. 

So far this year, the stock has fallen over 45%. The stock has been moving within a range of $4-$10.83 over the past 52-week.

Orexigen Therapeutics, Inc., a biopharmaceutical company focused on the development of pharmaceutical product candidates for the treatment of obesity.

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