Financial Movers: National Bank of Greece (NYSE:NBG), Freddie Mac (OTCBB:FMCC), Camtek (NASDAQ:CAMT), Rosetta Genomic (NASDAQ:ROSG)



Shares of National Bank of Greece (NYSE:NBG) are up nearly 10% Monday following Deutsche Bank’s new coverage of the stock at a Buy rating and EUR4.50 price target (approx $6.25 based on Monday’s exchange rate). The rating results from Deutsche Bank’s forecast for a strong recovery in fundamentals for the Greek banking sector. In addition, the bank will release Q4 earnings on March 27. It is expected to report a loss of $0.20 per share for 2013 versus a loss of $27.19 for 2012. National Bank of Greece (NYSE:NBG) last traded above its 200-day moving average of $5.02, with a 52-week range of $2.85 to $24.70.

Freddie Mac (OTCBB:FMCC) said it would offer $1.15 billion in new multifamily mortgage-backed securities (MBS), its third K Certificates offering so far in 2014. The offering of Structured Pass-Through Certificates are expected to price this week and settle on or about March 25. Freddie Mac (OTCBB:FMCC), a quasi-public guarantor of residential mortgages and investor in mortgages and related securities, was up at mid-day 3.5% to $5.33, not far from its 52-week high of $5.58. The offering is being headed by a syndicate of dealers led by Wells Fargo Securities, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as co-lead managers and joint book runners.

Semiconductor firm Camtek (NASDAQ:CAMT) said it started customer evaluation of its next-generation chip inspection and metrology platform, and shares climbed 3%. Camtek (NASDAQ:CAMT) called the development a “major milestone event” for rejuvenating its chip product line, and said it the new platform included 2D and 3D inspection capabilities. In afternoon trading,Camtek (NASDAQ:CAMT)  was up 3.47% to $3.88.

Rosetta Genomic (NASDAQ:ROSG) continues its meteoric rise again on Monday, up another 20% to a 17-month high of $6.48. The stock continues to gain traction from a bullish Seeking Alpha article from Friday. According to Seeking Alpha biotech analyst Grant Zeng, Rosetta Genomics (NASDAQ:ROSG) could reach $125 million in revenue by 2020, a 4,300% increase from projected 2014 revenue. In addition, at $6.30, the stock is undervalued by as much as 67%. Rosetta Genomics (NASDAQ:ROSG) develops microRNA-based diagnostics focused on molecular testing of cancer and other diseases. It currently markets four cancer tests including a test for lung and kidney cancer. The stock last traded at $6.24 with a new 52-week range of $2.35 to $6.48.

 

 

 

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