Joy Global Inc. (NDAQ: JOYG) shares surged higher today after the company announced that it would buyback an additional $1 billion in additional shares. The move is quite significant given the fact that the company only has a $5.31 billion market cap - meaning that it would be repurchasing nearly 20% of its shares. The theory is that this reduction in shares outstanding would increase the earnings per share number and force investors to re-evaluate the firm's multiple - presumably higher.

Buying back stock is good for several reasons. First, it uses up excess cash on the balance sheet and provides a better return than the money market. Secondly, buying back stock can increase the company's return on equity along with other financial ratios as less shares outstanding increases the fraction in many cases. And finally, buying back stock has a psychological effect on the market in that it signals that the firm itself believes that its shares are undervalued.

Joy Global manufactures and services mining equipment for the extraction of coal and other minerals and ores. Its equipment is used in mining regions to mine coal, copper, iron ore, oil sands and other minerals. Sales of original mining equipment for the mining industry, as a class of products, accounted for 37% of Joy's consolidated sales for fiscal year ended October 26, 2007. Shares of the company rose $3.47, or 8.38%, to $48.74 per share in mid-day trading.

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Penn National Gaming (NDAQ: PENN) shares moved higher today followed by their call options after rumors surfaced that the company may be on the block. Call options on the stock were particularly volatile as the company was scheduled to receive $1.4 billion in compensation from FIG and Centerbridge Partners after canceling their $67 per share buyout offer.

Last quarter, Penn National posted lower profits citing difficult economic conditions. Second quarter profits came in at $37 million, or 42 cents per share, compared to $38.3 million, or 43 cents a share, a year earlier. The lower results are likely due to a decrease in traffic to casinos thanks to a general slowdown in consumer spending. This has made casino stocks relatively cheap and could spur some M&A activity.

Penn National Gaming is a diversified, multi-jurisdictional owner and operator of gaming properties, as well as horse racetracks and associated off-track wagering facilities (OTWs). It owns or operates 19 gaming properties located in Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Maine, Mississippi, Missouri, New Jersey, New Mexico, Ohio, Pennsylvania, West Virginia, and Ontario.

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Many investors may not be aware that there are two basic types of pharmaceutical products on the market. Chemical Pharmaceuticals are the types that people usually see created from basic chemical compounds. Biopharmaceuticals are created from proteins produced by living organisms that have medical or diagnostic uses. Generally, these are complex macromolecules derived from recombinant DNA technology, cell fusion, or processes involving genetic manipulation.

These studies are no longer the work of science fiction! Protein-based therapeutics is the newest class of compounds being developed in the drug industry, with an estimated 50 coming to market over the next few years, 140 already approved and an additional 500 in clinical trials. These proteins have been found to outperform their chemical peers when solving complex problems. After all, it is DNA that controls the body's actions- it's simply a matter of correcting the problems in the double-helix.

Recombinant protein drugs have three key advantages over traditional chemical pharmaceuticals: safety, cost and efficacy. Since the protein drugs are built from human components, they have a built in safety factor, while the process for developing these drugs is extremely quality controlled. The fact that they drugs are produced from human components also reduces the cost and increases the efficacy of the process. All in all, there are many key advantages from a financial prospective.

China is currently the largest player in the biopharmaceutical industry. Currently, the country produces eight of the world's top 10 genetically engineered drugs or vaccines. Revenues from biopharmaceuticals in China are expected to grow from $4.5 billion in 2005 at a rate of 20% to 30% annually over the next couple decades. The factors influencing this growth are a talented, but cheap, labor pool, the development of a FDA equivalent (SFDA), and the governments efforts to expand IP rights.

So, how can you benefit as an investor? One of the fastest growing and most innovative companies in this sector is a company called Sinobiomed Inc. (OTC: SOBM). The company uses human proteins, or molecules that mimic or block them, to find new ways to treat disease. The process involves removing the DNA from one organism and placing it into a new organism that reproduces to make proteins of potential therapeutic value.

Drugs developed from this process can help solve many of the world's problems while also helping shareholders to profit handsomely. The potential uses for these proteins include: Hepatitis B&C, surgical bleeding, diabetic ulcers and burns, malaria, cancer, rheumatoid arthritis, blood cell regeneration following radio-chemotherapy for malignant tumors, acute liver disease, stroke, blood clots and thrombosis, acute pancreatitis and much more.

Investors looking for more information on this industry as well as Sinobiomed can check out their website at Sinobiomed.com. The company's stock is listed on the OTC-BB exchange under the ticker symbol SOBM.

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