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Myriad Genetics Inc. (NASDAQ: MYGN) shares closed down 13.88 percent on Monday with nearly 11 million shares traded. The stock was one of the biggest decliners on the NASDAQ and hit a new 52-week low of $20.02 during intra-day trading. Shares sank after the company confirmed a new, lower government reimbursement rate for a key test. The new rate, which will be effective for tests performed starting on Jan. 1, will put significant pressure on Myriad’s earnings, said Cowen and Co. analyst Doug Schenkel in a research note.
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The Coca-Cola Company (NYSE: KO) shares closed up a modest 1.06 percent on Monday with nearly 11 million shares traded. The stock is up about 12 percent in 2013. Barron’s wrote on Sunday that shares of Coca-Cola Co could see steep upside next year, following an extended period of relative underperformance compared with major indexes. “The underperformance has left a typically expensive stock looking affordable,” Barron’s wrote, adding that the stock could rise 20 percent or more in 2014.
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Micromem Technologies Inc. (OTCBB: MMTIF) shares closed up 29.29 percent on Monday with about 735,000 shares traded. The stock was one of the biggest gainers in the OTCBB marketplace and hit a new 52-week high of $1.74 during intra-day trading. The company had no significant news to explain the breakout. Micromem Technologies Inc. develops non-volatile magnetic memory and sensor technology.
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China New Borun Corporation (NYSE: BORN) shares closed up 27.27 percent on Monday with about 6 million shares traded. The stock was one of the biggest gainers on the NYSE. There was no significant news released. The company will hold its annual general meeting of shareholders at 10:00 a.m. Beijing/Hong Kong time on January 10, 2014 at the Company’s corporate office located at Bohai Industrial Park (Yangkou Town), Shouguang, Shandong province, People’s Republic of China.
Get more information on China New Borun Corporation and free access to the in-depth equity report at: www.TrendingWallStreet.com/stockquote/BORN
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