Basically, what they're working on here is a smallpox drug. As you know, the vaccine does have a lot of side effects. And this small, tiny basically New York-based company, with its labs out in Oregon, is working on this drug, ... And they just recently announced a contract from the Army -- 1.6 million. It's obviously speculative and somewhere along the line the company is going to have to raise money.
More Quotes from Peter Cardillo:
As long as there is no inflation this is extremely good for the financial markets and also for the bond market. What we saw a couple of weeks ago was a backup due to technical factors rather than any fundamental changes.Peter Cardillo
The recent rally is being supported today by the strong economic numbers, which indicate that the economy is growing at a faster clip,
Peter Cardillo
There is no question that the State of the Union message last night was very strong and very positive. Obviously the economy continues to do very well. Inflation is low and interest rates are still very low.
Peter Cardillo
I think this market now is basically trying to stabilize. The market will probably begin to focus on economic activity rebounding in the first quarter.
Peter Cardillo
The economic numbers were basically in line this morning, but we've got a lot of economic news coming out this week. Earnings are pretty much over with, and they were pretty mixed, so investors are now looking to see that the economy won't stall in the second quarter before they're going to be willing to buy.
Peter Cardillo
The retail sales are a real blow-out number. They show that economic activity is healthy but they will also ignite fears that the Fed will continue raising interest rates as it takes these numbers as a sign that the economy is still growing strongly.
Peter Cardillo
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