Why Are Traders Piling Into These Stocks?

Brazil’s Government Supports Petrobras Pricing Independence

Although Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) may be state-controlled, Brazil’s energy ministry said over the weekend that it supports full freedom for Petrobras to set fuel prices based on economics going forward rather than based on government interests as before. Partly because Petrobras was run for government interests, the company has been saddled with substantial debt and has had to deal with corruption. Higher fuel prices could help Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) finance its around $130 billion in debt and to become more profitable. Ken Fisher’s Fisher Asset Management owned more than 10.5 million shares at the end of the first quarter.

Cyclacel Pharmaceuticals Surges After ASCO Presentation

Nano-cap Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) is 62% higher after the company reported updated data from its DNA Damage Response Program on the Seliciclib and Sapacitabine combination for patients with solid tumors. The updated data is from a Phase 1 clinical trial, and showed anti-tumor activity in a subgroup of 45 patients with ovarian, breast, and pancreatic cancers who tested positive for BRCA mutations (44 germline and 1 sporadic) with a 35.6% disease control rate. Based on the results, the company believes further clinical evaluation of the combination is justified. Four funds held $826,000 of Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) at the end of March.

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