The Dow Jones Industrials closed down 156.06 points, or 1.2%, to 12,442.50

The S&P 500 demurred 19.94 points to 1,304.86. The tech-rich Nasdaq Composite Index capsized 60.35 to 2,813.69.

Retail giants Wal-Mart and Sears Holdings were among the biggest gainers. Wal-Mart, the nation”s largest retailer, posted stronger-than-expected quarterly earnings and sales.

Rival Sears also reported a profit, even as sales declined, thanks to a boost from selling real estate assets. The retailer also announced it was looking at a partial spinoff of its Canadian operations.

Other retailers due to report results Thursday include Gap and Aeropostale, both due after the closing bell.

Also reporting after the close is Applied Materials, the manufacturer of chip making equipment, whose earnings are forecast to decline.

But the big tech news after the market close will come from Facebook, which is expected to price its initial public offering. Trading will begin Friday.

The social networking site upped the target price range for its stock earlier this week to between $34 and $38 U.S. per share. It announced Wednesday that 25% more shares of the company will be sold than previously announced.

The additional shares, disclosed in a filing with the Securities and Exchange Commission, could fetch an extra $3 billion U.S. — bringing the total raised through Facebook”s offering to as much as $16 billion U.S., making it the most valuable tech IPO in history.

Shares of JPMorgan Chase fell Thursday, a day after the director of the FBI confirmed his agency had launched an initial investigation into a $2-billion U.S. trading loss suffered by the bank.

Meanwhile, concerns about Greece”s future in the euro-zone continued to weigh on investors.

European leaders voiced support Wednesday for keeping Greece in the euro-zone, but cautioned the debt-ridden country must stick with unpopular austerity measures if Greece is going to continue to receive help. A new vote is set for June 17.

Greek voters rebelled against those measures in the May 6 elections, denying the ruling coalition — which had agreed to the bailout terms — the votes needed to form a new government. Greek voters will go to the polls again on June 17.

Though the ability to form a governing coalition remains uncertain, the main fear is that an anti-austerity ruling party could cause the bailout deal to unravel, leading to a Greek default and an exit from the euro.

Citing the “heightened risk that Greece may not be able to sustain its membership of Economic and Monetary Union,” Fitch Ratings downgraded Greece”s credit rating by one notch to CCC.

Adding to those concerns, the European Central Bank has suspended its lending to some Greek banks that need to sufficiently boost their capital.

Meanwhile, a growing number of depositors are withdrawing their money amid worries that their savings could be converted to a devalued currency if Greece drops the euro.

Economically speaking, initial jobless claims were unchanged in the week ended May 12 from the revised figure of 370,000. The number came in weaker than expected.

A Philadelphia Fed report showed that regional manufacturing unexpectedly plunged in May for the first time in eight months. The Philly Fed index fell to -5.8 from 8.5 in April. Economists were expecting the index to increase to 8.8. Any reading below zero indicates weakness.

Elsewhere, the index of leading indicators, which gauges the economy”s performance over the next three to six months, was also discouraging. The index fell 0.1% in April, disappointing economists who expected it to rise 0.2%.

The price on the benchmark 10-year U.S. Treasury gained, pushing the yield down to 1.70% from Wednesday”s 1.76%. Treasury prices and yields move in opposite directions.

The price of a barrel of oil fell moved back 52 cents to $92.29 U.S.

Gold futures for June delivery rose $37.10 to settle at $1,573.70 U.S. an ounce.

“It’s a morale booster for us at Winning Brands,” commented Winning Brands Chief Executive Officer Eric Lehner.  “We are grateful but also proud that careful evaluation has confirmed the usefulness of 1000+ Stain Remover in a military setting for a variety of purposes. We will work hard to deliver customer satisfaction and also look forward to being of service to U.S. military agencies when they complete their own evaluations.”

Winning Brands (WNBD) Stock Quote and News:

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Flex Fuel Technologies, Inc. has developed a ” bolt on technology,” called Flex Genie™, that allows most four, six and eight cylinder cars to run on both E85 (ethanol) as well as gasoline at a fraction of the cost that a buyer would pay at the OEM/Dealer level for the flex fuel option on a new vehicle.

Premiere will also assist Flex Fuel Technologies, Inc. in becoming a public company and expects the to file its registration statement with the Securities and Exchange Commission this coming June.

The company also said that it has set May 29, 2012 as the definitive closing date for Premiere’s merger with Global Products, Inc.  Upon the consummation of the merger, shareholders of PPBL will own shares in Global Products, Inc. and also retain shares in other client companies of Premiere, including but not limited to Luminx Holdings, Defense Technologies Corp., Flex Fuel Technologies Inc. and Trident Equity Advisors Inc., all of which will file separate registration statements with the Securities and Exchange Commission to become stand-alone public companies.

Premiere Opportunities Group, Inc. (PPBL) Stock Quote and News:

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There is no road map to maneuver through the political, medical and regulatory challenges that confront an emerging and potentially transformational field like regenerative medicine. Helping guide the industry as a whole, Henri Termeer is recognized as a living legend in biotechnology and a leading advocate for cell therapy and tissue engineering. He built a legacy while convincing the world that cell therapy should be taken seriously as a field. During 26 years under Termeer’s tutelage, Genzyme established a business model using biological processes and developing products targeting rare genetic disorders that could not be easily copied by generic drug makers. This innovative strategy, which many predicted could never succeeed, took Genzyme from being a modest upstart into the third largest biotech in the world.

Following the blueprint of most great innovators, Termeer ignored naysayers early in his career and brought multiple products to market, including the first drug to treat Gaucher disease, which affects only about 10,000 people worldwide. Many successful drugs followed, including the FDA approving a Biologic License Application for Myozyme (alglucosidase alfa, rhGAA), the first treatment for patients with Pompe disease, another rare orphan disease, in 2006. A true visionary in many respects, Termeer also focused Genzyme on becoming the first biotechnology company to actually commit serious resources and figure out how to get a cell therapy to patients, including solving the complex logistical issues including storage, shipping and handling of these new types of products. He successfully pursued cartilage repair through cell therapy, and established a separate business unit within Genzyme devoted to the area of regenerative medicine and tissue engineering approaches. All the while, Termeer was known for focusing on the needs of patients while also displaying an intense commitment to creating shareholder value.

Geoff MacKay, chief executive at Organogenesis, relies upon many of the same, patient-first characteristics of Termeer to build intrinsic value for the company. Still a “young gun,” MacKay has exemplified spirit and commitment to advance regenerative medicines with the bulk of his career in leadership positions at Novartis AG (NYSE: NVS), including roles in tissue engineering and immunology, before coming to Organogenesis in 2003.

The Organogenesis chief has successfully advanced two cell therapy products through the complex regulatory process and into the clinic where they now serve the needs of patients. Apligraf®, a living cell based product indicated for the treatment of venous leg ulcers and diabetic foot ulcers, became the first bio-engineered cell based product to receive FDA approval. GINTUIT™, a cellular sheet that has been shown to predictably generate new and aesthetically appealing oral soft tissue, has been approved by the FDA for the treatment of mucogingival conditions in adults and is slated for release this summer. The company is also developing other forms of regenerative medicine, including bio-engineered skin for the treatment of burns and other clinical indications. Two approved cell technologies and a third in the pipeline certainly proves MacKay’s abilities and devotion to regenerative medicines.

In addition to his role at Organogenesis, MacKay currently serves as a member of the Board of Directors of the Canadian Stem Cell Network and as Vice Chairman of the Board of the Massachusetts Biotechnology Council, a not-for-profit organization that represents and provides services and support for the Massachusetts biotechnology industry. MassBio is the nation’s oldest biotechnology trade association.

Dr. Gil Van Bokkelen is another prescient leader in the regenerative medicine space that that has stood head and shoulders above others for his exhaustive efforts for both Athersys and the industry on the whole. Under his guidance, Athersys has developed a robust portfolio of therapeutic product candidates centered on therapeutic stem cells and other tissue engineering to promote healing or replacement of diseased and damaged tissue.

Athersys is in the midst of four clinical trials, including two Phase II clinical trials. Their leading Phase II trial is being conducted in partnership with Pfizer (NYSE: PFE) targeting Inflammatory Bowel Disease utilizing Athersys’ proprietary MultiStem® stem cell technology. Results are expected early in 2013 from this research. A second Phase II trial using MultiStem® is being independently conducted by Athersys targeting ischemic stroke.

MultiStem® is viewed as a very significant technology because of its potential relevance for an assortment of diseases and complications that are in grave need of new therapies. Similar to Termeer’s approach, Van Bokkelen has Athersys targeting some smaller markets, in addition to larger areas of unmet need, like stroke, heart disease and inflammatory conditions. One orphan area the company is focused on involves providing treatment support to patients receiving a traditional bone marrow or hematopoietic stem cell transplants as part of treatment for cancer. Such transplants can provide life-saving help to patients being treated for leukemia or related conditions, but can also come at a cost – as treatment is frequently complicated by Graft Versus Host Disease (GVHD), an occurrence in which the newly transplanted material attacks the transplant recipient’s body. Athersys has focused on solving this issue, by using applying MultiStem to treat patients at significant risk of GVHD, intervening before the disease becomes a life threatening condition. With initial clinical testing successfully completed and showing promising results, Athersys recently met with the FDA to discuss advancement of MultiStem® into later stage clinical studies, to evaluate its potential as a new therapy to combat GVHD.

Other uses for MultiStem include repairing damage from acute myocardial infarction and other cardiovascular disease, diabetes and neurological damage (i.e. multiple sclerosis, ischemic stroke, and traumatic brain injury). The company’s vision and capabilities extend into other areas as well, such as developing a novel treatment for obesity, an area that represents a sizzling, hot button topic today.

Van Bokkelen’s leadership and role in the field of regenerative medicine extends beyond the programs at Athersys however. His resume includes serving as the current Chairman of the Alliance for Regenerative Medicine, as well as Chairman of the Board of Governors for the National Center for Regenerative Medicine. He also sits on a number of other boards, including the Biotechnology Industry Organization, the McGowan Institute for Regenerative Medicine and the Regenerative Medicine Foundation.

Work with stem cells has certainly faced a great many obstacles in the last two decades, but that worm is starting to turn as strong bi-partisan support is being demonstrated to enact new laws to expedite development of drugs and therapies to meet unmet medical needs. It seems likely that a broadened Accelerated Approval Pathway proposal will be enacted into law as part of the PDUFA renewal by the end of summer 2012. This should provide the FDA and innovators greater latitude in developing new therapies to treat serious and life threatening conditions that are beyond the current standards of care. While this could benefit the biotechnology industry across the board, regenerative medicine companies may stand to see the greatest rewards because of the large number of new therapies that can fall under the classification of “breakthrough medicines”, which the accelerated approval framework is designed to promote. Through their innovative nature and targeting of diseases that have proven resistant to traditional medicines, regenerative medicine approaches could help address some of the biggest and most serious long term challenges facing our healthcare system.

While there are many great leaders in biotechnology, the aforementioned CEO’s have consistently demonstrated vision, empathy and responsibility to bring a wave of novel therapies to the market that can substantially enhance the quality of life of patients and an unwavering dedication to reshape the options allotted to physicians in patient care. Their devotion to their respective companies is only paralleled by their unselfish efforts to help the industry overcome the many challenges it faces regarding not only inherent development, but also regulatory and political obstacles.

Whether it is in a bottle or a vial, the day of cell-based therapies is nearly upon us with a debt of gratitude being owed to pioneers such as Termeer, MacKay and Van Bokkelen.

LinkedIn has become a household name and posted overall gains since its IPO in May of 2011.  As the world’s largest professional network, revenues more than doubled in the first quarter; jumping net income to $5 million from $2.1 million in the year prior.  The challenge is that LNKD already holds a huge market capitalization of $11.6 billion and is at the top-end of its price range since it IPO’d.  Even though it has raised guidance and boosted revenue, many analysts still feel that the market cap is heavily weighted on where the company can be in 5 years or more, which has mushroomed the market cap to a position that the company may not be able to meet expectations for growth.  The company has built a balance sheet that is nothing shy of impressive, though, with $873 million in assets and only $248 million in liabilities; giving them a book value of $624 million and a book value per share of $6.05.  Total stockholder equity rings-in at $951 million.  Shares of LinkedIn are trading at $111.95 each.

CrowdGather Inc., a leading network of forum communities on the Internet and developer of innovative advertising technologies to monetize them, has been unnoticed by investors and may offer substantial upside, as justified by their finances and business model.  The structure of being focused on forums may give CrowdGather a competitive position amongst Internet companies that are engaged in monetizing traffic from advertisements placed alongside user generated content like Twitter, Yelp, or Facebook.  Forums, one of the original social media platforms, attract a different type of crowd that somewhat eschews places like those where posts are extremely short or social in nature.  Forum users are focused on long form, in-depth discussions that serve as a valuable resource for people seeking knowledge about specific topics.  While not as widely publicized, the industry is thriving with users.  CrowdGather not only owns highly trafficked forums, but it also provides several easy-to-use platforms for members to build their own forum for their topic of choice.  As per Google Analytics, during the third quarter ended January 31, 2012, CrowdGather’s traffic averaged 231 million monthly page views and 16.8 million monthly unique visitors across all properties.

While other Internet microcaps are burning through money like it is free, CrowdGather has a very high gross margin business that should make it easier for them to deliver bottom line results when revenues exceed expenses.  In the most recent quarter, the company realized revenues of $549,750 for the three months ended January 31, 2012, as compared to revenues of $380,212 for the three months ended January 31, 2011. The absolutely stunning part:  cost of revenue for the three months ended January 31, 2012 was $4,793, as compared to cost of revenue of $44,186 for the three months ended January 31, 2011.  CrowdGather delivered a gross profit margin of almost 99% in their last quarterly results filing.  If the company is able to maintain margins anywhere close to this as they scale, shareholders could see significant net income and EPS from the company in the future.

Insiders are not missing the big picture with CrowdGather as evident in the buying activity last year at higher prices than current levels.  While other Internet micro caps are diluting to raise funds, CrowdGather is sitting on cash.  Further, beta testing for its ad server is nearly complete with a launch planned for this fall, which could increase revenue momentum over the long term as the company will be able to more effectively target all of their hosted forums for advertisers seeking a specific vertical or demographic.

At the end of the latest quarter, CrowdGather had roughly $2.7 million in cash and $16.8 million in net shareholder equity.   There are very, very few companies that post positive shareholder equity in the Over The Counter markets.  Total liabilities only equal $83,000; giving CrowdGather a book value of 29 cents per share.  Shares closed on Tuesday, May 15, 2012 at 28 cents each which equals a market cap of $16.3 million.

Breaking it down:

Taking the facts and ignoring the hype often results in a clearer picture of value.  Pitting CrowdGather toe-to-toe with any of its micro cap Internet or Social Media peers shows a small, but sound business strategy with solid margins and wise financial sense.  It also shows that the company is only trading at the value of its cash and assets without any real regard for its growth prospects.  The numbers don’t lie.

CrowdGather (CRWG) Stock Quote and News:

LinkedIn (LNKD) Stock Quote and News:

IZEA (IZEA) Stock Quote and News:

Facebook (FB) Stock Quote and News:

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CrowdGather (CRWG) Stock Quote and News:

Poll question: Does the DOW move back to test the high? I’m not expecting it to move up without another correction along the way, maybe if we get a summer rally.  I am often on my own with some of the picks I make and certainly am no expert.
My vote is yes, today. Futures were breaking below 12,600 earlier this morning so still being cautious but I think there is a 50/50 chance. Hence the poll.

Comments are welcome! Or a simple “You’re nuts!”, or a yes or no.

Please note: This is not a buy or sell recommendation.  I am not an investment advisor.

I’m sure the guys at Enron had the same sinking feelings when they became the flashpoint for the broken power markets and the world was embroiled when it was determined the hand they played in this and no doubt Ina will suffer for the rest of her life…but not before she retires on the 30+ Million she took home from JP coffers over the years.

Ina…just retire…go hang at the gym..move to a tropical island, trade your own money!!  But they never do and they always (like an aging relief pitcher) try and come back and save one more game.  It is the downside of the trading addiction.  I suggest you just ride off into the sunset – turn off any media- and get out of the spotlight fast.  Take a hint from Mary Meeker who was near career suicide at Morgan Stanley, or Henry Blodgett who now is an Internet Talk Show Host…I suggest you lay low until Congress decides if they will change the rules of the game for all other traders.  Thx Ina for coming in today !!!

The Education of Ina is not about Ina…it is about the risks associated with New Millennium Capitalism and the zero latency trading tools available to us.  Long Term Capital nearly took down the Markets in the late 90′s because they had oversized positions in everything and too much leverage extended them in exchange for commissions.

It’s just another day on Wall Street…take it for what it is…unless you’re The Re-Education of Ina.

Article submitted by TheStreetBeat.com.

JP Morgan (JPM) Stock Quote and News:

“Submitting the study protocol to the FDA is an important step towards evaluating a new potential therapeutic use for azficel-T, recently approved by the FDA for the treatment of nasolabial fold wrinkles,” said Fibrocell’s Chairman and CEO David Pernock. “Azficel-T is being studied to assess its potential for addressing an unmet need in the treatment of patients suffering with restrictive burn scars.”

Fibrocell Science (FCSC) Stock Quote and News:

This morning, the company reported that it has begun initial progress shipments of its products to two major U.S. retailers. Shares have slipped lower than Friday’s closing price in morning trading with shares down 14.67 percent at $0.0064, but are still holding over the support level discussed in the video. The complete press release is in the “news” section below.

KMA Global Solutions (KMAG) Stock Quote and News: