Aug 14, 2013

Posted by in Featured, Stock Reports | 0 Comments

NASDAQ Hot Stocks: MannKind Corporation (NASDAQ:MNKD), Brocade Communications Systems, Inc. (NASDAQ:BRCD)

NASDAQ Hot Stocks: MannKind Corporation (NASDAQ:MNKD), Brocade Communications Systems, Inc. (NASDAQ:BRCD)

MannKind Corporation (NASDAQ:MNKD) stock is moving up in the current trading session after the biopharmaceutical company announced that two late-stage trials results showed that its experimental diabetes treatment was more effective as compared to injected insulin and oral therapies.

Following the news, MannKind shares jumped 13.38 percent to $7.78 today on volume of 13.42 million. The drug-device combination is known as Afrezza that contains an insulin powder enclosed in a cartridge. It is used as an inhaler and designed for the treatment of adult patients suffering from Type 1 and Type 2 diabetes.

Brocade Communications Systems, Inc. (NASDAQ:BRCD) stock is trading higher today after the supplier of networking equipment announced better-than-expected financial results for the third quarter. BRCD shares rose 12.46 percent to $7.76, on volume of 6.40 million, in the current trading session.

The company posted adjusted profit of $87 million or $0.19 per share for the quarter, far better than $0.12 per share estimated by analysts surveyed by Thomson Reuters. Revenue for the third quarter came in at $537 million. Analysts on average had predicted revenue of $518.84 million. Brocade Communications has a market capitalization of 3.58 billion and P/E ratio of 18.69.

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