Gilead Gets Positive Results for Blood Pressure Drug

Shares of Gilead Sciences ( GILD) are up over 3% after the company said its high blood pressure drug candidate darusentan met its main goals in a late-stage clinical trial.

Darusentan is designed to improve treatment-resistant hypertension or high blood pressure that has not been successfully reduced by other drugs.

Shares of Gilead are over 20% off all-time highs of $57 hit in August 2008. The stock has technical support in the $31 to $35 price range. If the shares can manage to get the momentum turned around from this morning's early selloff, we see overhead resistance sitting at the $50 to $51 levels. We do not currently rate this non-dividend-paying stock, but we do follow the biotech space closely.

JPMorgan Losing Favor for Disney Shares

Shares of Disney ( DIS) are down slightly in early trading after a JPMorgan Chase ( JPM) analyst cut his ratings on the stock to neutral from overweight.

The analyst trimmed his fiscal 2009 profit estimates for the company's broadcasting and theme park segments. He also cut the full-year EPS estimates to $1.68 a share from $1.73.

We removed Disney from our "Recommended" list back on September 29, when shares traded at $32.75. The company has a dividend yield of 1.73%, based on last night's closing stock price of $20.21.

The stock recently approached technical support near the $15 level. If that gets tested again and fails to hold, we can possibly see a $10 to $11 level come into play. If the shares can firm up, we see overhead resistance around the $25 to $26 price range. We would remain on the sidelines for now.

Disney is not recommended at this time, holding a Dividend.com DARST Rating of 3.1 out of 5 stars.

Research In Motion Clobbers Short-Sellers

Shares of Research In Motion ( RIMM) are up over 22% in the premarket after the company reported profits in its fourth quarter ended February 28 rose to $518.3 million or 90 cents a share from $412.5 million or 72 cents, a year earlier.

The company said revenue rose 84% to $3.46 billion, as the company snapped up its newest BlackBerry smartphones. The company now has a total of about 25 million BlackBerry subscribers.

Looking ahead, management expects revenue of between $3.3 billion and $3.5 billion and earnings per share of 88 cents to 97 cents, as the sentiment is that the company will fare well in the current environment and will continue to grow market share.

The shares of RIMM are off of last summer's highs of $147 a share. The stock has technical support in the $35 to $40 price area. If the shares can maintain today's early momentum, we see overhead resistance around the $68 mark. We do not currently rate this non-dividend-paying stock, but do follow the company closely.

Micron Technology Loses $752 Million in Second Quarter

Shares of Micron Technology ( MU) are down slightly in early trading as the company reported a second-quarter loss of $751 million or 97 cents per share compared with a loss of $777 million or $1.01 per share in the same period a year earlier.

Sales for the chipmaker dropped 27 percent to $993 million from $1.36 billion. The company cited an oversupply of memory chips that led to declining selling prices from the first quarter.

Shares of Micron are way off of all-time highs of $88 hit in June of 2000. The stock has technical support near all-time lows of $2 a share. If the stock can stabilize, we see overhead resistance around the $5 to $6.50 mark. We do not currently rate this non-dividend-paying stock, but do follow the name closely.
At the time of publication, the author had no positions in stocks mentioned, although positions may change at any time.

Tom Reese and Paul Rubillo are senior editors of Dividend.com. Visit Dividend.com for more dividend stock ratings, picks, news, and analysis for long-term and income-seeking investors.