Gilead Sciences, Inc. (Nasdaq:GILD)

Gilead Sciences first entered into a license and collaboration agreement with Tibotec for the development and commercialization of the Eviplera single-tablet regimen in July 2009. The product received regulatory approval from the U.S. Food and Drug Administration under the trade name Complera? (emtricitabine/rilpivirine/tenofovir disoproxil fumarate) in August 2011.

Gilead Sciences, Inc. (GILD) yesterday announced that the Committee for Medicinal Products for Human Use (CHMP), the scientific committee of the European Medicines Agency, has adopted a positive opinion on the company’s Marketing Authorisation Application for the once-daily single-tablet regimen, Eviplera®, combining Gilead Sciences’ Truvada® (emtricitabine and tenofovir disoproxil (as fumarate)) with Tibotec Pharmaceuticals’ non-nucleoside reverse transcriptase inhibitor Edurant® (rilpivirine (as hydrochloride)) for the treatment of HIV-1 infection in antiretroviral-naïve adults with a viral load less than or equal to 100,000 HIV-1 RNA copies/mL.

The CHMP’s positive recommendation will be reviewed by the European Commission, which has the authority to approve medicinal products for use in the 27 countries of the European Union (EU). Gilead Sciences expects the European Commission to issue its decision on the marketing authorization for the Eviplera single-tablet regimen later this year.

The mission of Gilead Sciences is to advance the care of patients suffering from life-threatening diseases worldwide. Headquartered in Foster City, California, Gilead Sciences has operations in North America, Europe and Asia Pacific. Gilead Sciences is a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need.

For more information about Gilead Sciences, please visit: www.gilead.com

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•After yesterday’s brutal sell-off stocks rose with the indices gaining at least 0.4% today palpable to the prior session’s losses.
•The broader SP 500 $SPX $SPY support level moved up slightly from 1,128 to 1,130 while resistance remains the same at 1,150.
•The support/resistance levels for the Nasdaq Composite $COMPX $QQQ moved higher from 2,381 to 2,470 and from 2,468 to 2,483.
•SP 500 and Nasdaq Composite remain below their moving averages (21, 50, 200).
•SP 500 did not test its August closing low of 1,119 in today’s session.
•Nasdaq Composite continues to have an open gap down to 2,537.
•$XLY $XLK $XLI rose 1% plus on moderately heavier volume while $XLE was down 1.1% on moderately heavier volume.
•$XLB was down slightly on moderately heavier volume.
•Silver $SLV and gold $GLD were down heavy 14.2% and 5.5% on heavy volume.
•The US Dollar $UUP was down 0.3% on heavy volume.
•Oil $USO was slightly down on volume that was moderately heavier.
•Bonds $TLT were down 1.9% on below average volume.
•$SLW was down 8.9% on heavier volume.
•$SPRD was down 3.3% on lower volume.
•Based on stocks I follow the stock market direction is neutral and has been active 1 trading session.
•The stock market direction was bearish two sessions this week and neutral the other three sessions.

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Today, we are coming to you with an entry that focuses on the lows of 2008 and 2009. Those miserable days seem to be eerily familiar right now, but money was made by value orientated longs who looked at the value of the company and not the charts or current market conditions.

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•Stock sold off hard with major indexes down at least 2% each.
•SP 500 $SPX $SPY support/resistance moved down from 1,199 to 1,165 and 1,204 to 1,173.
•Nasdaq Composite $COMPX $QQQ support moved lower from 2,580 to 2,531 (21 day moving average)-resistance moved lower from 2,598 to 2,549.
•SP 500 is once again below its moving averages (21, 50, 200).
•Nasdaq Composite above 21 but below 50 and 200 day moving averages.
•Risky sector materials $XLB was down 4.5% on heavy volume.
•Risky sectors industrials $XLI , consumer discretionary $XLY, and technology $XLK fell on moderately higher volume.
•Defensive sector utilities $XLU was down as well on moderately heavier volume indicating the selling was broad based.
•US Dollar $UUP was higher on heavy volume and Bonds $TLT were up 3.3% on moderately heavier volume.
•$EDU was down 9.3% on moderately heavier volume while $LULU was down 3.6% on moderately heavier volume.
•Based on stocks I follow the stock market direction is neutral and has been active 1 trading session after being bearish for 1 session.

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ORCL, Oracle Corporation

** On its first quarter fiscal 2012, ORCL reported that its GAAP total revenues increased 12% to $8.4 billion with GAAP earnings per share of $0.36, up 34% year over year.

ORCL is the world’s most complete, open, and integrated business software and hardware systems company.

More about ORCL at www.oracle.com

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PMC, PharMerica Corporation

** PMC’s Board of Directors of PMC has rejected the unsolicited tender offer made by Omnicare to acquire PMC for $15.00 per share in cash.

The Board determined that the offer undervalues PMC and is not in the best interests of PMC’s stockholders.

More about PMC at www.pharmerica.com

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VSR, Versar Inc.

** VSR posted gross revenue for fiscal year 2011 of $137.6 million, an increase of 37% year over year and the highest ever reported in the 42 year history of the company.

VSR has retained the services of Institutional Marketing Services, a full service investor relations firm founded by John Nesbett.

VSR is a publicly held global project management company providing sustainable solutions to government and commercial clients in construction management, environmental services, munitions response, telecommunications and energy.

More about VSR at www.versar.com

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