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Vivus shares higher in pre-market on positive Qnexa results

Vivus shares were up in after-market trading on positive data from two late-stage clinical trials of Qnexa, an experimental treatment for weight loss, before trading begins Wednesday morning. The oral treatment is the Mountain View, Calif.-based company’s lead product.

NASDAQ:VVUS

US Dollar weakens driving Gold over $1000

Gold prices rose over $1000 for the first time since February as the US Dollar weakened over fears of inflation and excess government stimulus spending. Inflation worries has forced investors to investments that are considered safe such as Gold.

When the value of the dollar, often considered the world’s reserve currency, is falling, investors often turn to gold as a relatively safe alternative place to put their money.

“When you have currencies weakening and there’s no currency of choice (among traders), you move to gold,” said Carlos Sanchez, an …

Myspace to acquire ILike

Myspace will purchase social network music site ILike.com for an undisclosed amount.

Brothers Ali and Hadi Partovi founded iLike in 2006. In two years iLike has become the largest music application across all social networks — with 55 million total users and 1.5 billion monthly impressions. No structural changes will be made among management or employees at iLike.

Myspace is owned by Newscorp NWS