Visit StreetInsider.com at http://www.streetinsider.com/news.php?st=p&id=4988281 for the full story.

Telik, Inc. (NASDAQ:TELK) rallied 22.78% to $0.97 in after hours trading after announced the publication of the positive results from a Phase 1-2a multicenter, dose-ranging study of TELCYTA in combination with carboplatin and paclitaxel as first-line therapy for patients with nonsmall cell lung cancer in a leading peer reviewed publication, the Journal of Thoracic Oncology, October 2009; Vol. 4, No. 10.

View SEC Filings View Annual Reports View Insider Trading Carl Icahn may cause big waves in huge corporations, but he failed to impress investors in Telik (NDAQ: TELK) today. The stock dropped 4% in late trading despite the fact that the activist investor disclosed an 8.15% stake in the firm. Icahn is known for pushing for change in the companies that he targets and some are speculating that his investment in this company may be to sell a key technology or patent to another company or perhaps one of his[More...]

UP
Digene Corporation (DIGE)
Palm, Inc. (PALM)
NovaStar Financial Inc. (NFI)
Onyx Pharmaceuticals, Inc. (ONXX)
Sirius Satellite Radio Inc. (SIRI)
DOWN
Telik, Inc. (TELK)
Delta Air Lines, Inc. (DAL)
Cray Inc. (CRAY)
Regeneron Pharmaceuticals, Inc. (REGN)
Millicom International Cellular SA (USA) (MICC)

Mark Fightmaster takes a look at activity in the options pits.

Pete from Optionsmonster calls in from the CBOE to tell MN1 listeners about some unusual options activity on [GGC] also unusual activity on Telik [TELK] Jan 20-30 strike prices. Folks that way out of the money. Waiting on some FDA approval by year end keep this on your radar or join Andrew Coffey live on MN1.com For News you can use. Still Pimping out Ken Fisher’s new book. KLF is going to rock you!!! Also [NFLD] straddle.