Preview June 3
- FDA orders Glaxo, AstraZeneca (AZN:$43.59,00$1.28,003.03%) to make changes, U.S. health regulators have finalized new warnings for controversial inhaled asthma drugs, but exercised new powers to order the changes on products made by GlaxoSmithKline.
- Yahoo Inc (YHOO:$15.18,00$0.16,001.07%) Steve Case: In 5 Years, Yahoo Will Still Be Significant.
- Hovnanian Enterprises Inc.'s (HOV:$6.15,00$0.18,003.02%) fiscal second-quarter loss narrowed more than expected, aided by minimal land charges and stabilizing home prices.
- Applied Signal Technology Inc (APSG:$17.87,00$0.70,004.08%) , a provider of signal intelligence gear, posted quarterly profit above estimates, helped by growth in its broadband communications business.
- CBS Corp. (CBS/A:$14.59,00$0.42,002.96%) Chief Executive Les Moonves said Wednesday that advertising sales negotiations in advance of the fall programming season are well underway and the numbers are coming in where he wanted them.
- Bank of Ireland (IRE:$5.05, up to 5.20 after hours)
- Long, no real reason just really like this company.
- Amgen Inc (AMGN:$56.09,00$5.33,0010.50%) helped boost the Nasdaq, gaining 10.5 percent to $56.09 after the U.S. Food and Drug Administration approved the sale of its osteoporosis drug to help prevent fractures in post-menopausal women.
- Cascade Corporation (CASC:$33.88,00$2.99,009.68%) , a leading international manufacturer of lift truck attachments, forks and accessories, will host a conference call to report first quarter fiscal 2011 results on Monday, June 7, 2010 at 2:00 p.m. PDT.
- U.S. oil and natural gas company Noble Energy Inc (NBL:$60.15,00$3.92,006.97%) said on Wednesday it had agreed to sell certain non-core assets for about $550 million and projected annual production growth of 10 percent over the next five years.
- Network security systems provider SonicWALL, Inc. (SNWL:$8.99,00$0.27,003.10%) said Wednesday it has agreed to be acquired by an investor group led by private equity firm Thoma Bravo in a deal worth around $717 million.
UPSIDE MOVERS:
- CYBX, +6.6%, 17.66 to 20
- Cyberonics Inc.'s (CYBX:$18.76,00$0.94,005.27%) fiscal fourth-quarter profit jumped 78% on reboundng sales and higher margins as the medical-device company's results topped Wall Street's expectations.
- XIDE, +15.9%, 4.01 to 5.27,
- Exide Technologies (XIDE:$4.27,00$0.23,005.69%) jumped higher in after-hours trade after reporting better-than-expected Q4 results.
- CWTR, +4.4%, 5.90 to 6.45
- Coldwater Creek Inc (CWTR:$5.94,00$0.04,000.68%) swung to a quarterly profit, helped by better pricing, but continues to grapple with a bloated inventory, which could force the women's apparel retailer to implement deeper markdowns in the second quarter.
- HOTT, +0.7%, 5.43 to 5.34
- HERO, +10.3%, 2.60 to 2.91
- Long, The moratorium the President just signed benefit companies like hero, like I said in my blog 3 days ago so I hope you played it, should see alot of upside continuance on this one.
- ZLC, +9.4%, 2.58 to 2.74
- Zale Corp. (ZLC:$2.6000,$-0.0500,-1.89%), up to 2.74 after hours.
DOWNSIDE MOVERS:
- CEPH, -1.3%, 59.54 to 56.05
- BLUD, flat, 20.09 to 19.22
- APSG, -3%, 19.20 to 17.17
- HOV, -0.8%, 6.27 to 6.01
- ZUMZ, -2.5%, 16.94 to 18.64
WATCH-LIST MOVERS:
- Amylin Pharmaceuticals, Inc. (AMLN:$16.78,00$0.57,003.52%), no real news other than they are presenting at a conference where there boss will do a company overview.
- ZymoGenetics, Inc. (ZGEN:$4.215,0$-0.125,0-2.88%) today announced the initiation of the second part of a Phase 2 clinical trial with PEG-Interferon lambda (IL-29) and ribavirin in treatment-of patients with chronic hepatitis C virus (HCV) infection.
- GTx, Inc. (GTXI:$2.33,00$0.25,0012.02%) , announced today that management will present a company overview on June 9 at the Jefferies 2010 Global Life Sciences Conference in New York City. The GTx presentation will begin at 8:30 a.m. Eastern Time. A simultaneous webcast of the presentation will be accessible from the investor relations section of the GTx website at www.gtxinc.com
- Market speculation that RadioShack Corp. (RSH:$21.81, up 4%...) is shopping itself around resurfaced again this week just as the consumer electronics chain is asking Fort Worth for $10.76 million in tax breaks to stay put.
- Weight Loss Drugs Under Review:
- Orexigen Therapeutics,OREX:$5.50 Inc. Announces FDA Acceptance of Contrave® New Drug Application for the Treatment of Obesity.
- Neither a panel meeting nor a decision date has yet been set.
- An advisory panel to the U.S. Food and Drug Administration will review Arena Pharmaceuticals Inc's (ARNA:$3.23,00$0.18,005.90%) weight loss drug lorcaserin at a meeting tentatively scheduled for Sept. 16, the company said.
- A separate meeting of the advisory committee, scheduled for July 15, will review a rival weight loss drug, Qnexa, being developed by Vivus Inc (VVUS:$12.80,00$0.60,004.92%) . The FDA has set a deadline of Oct. 28 to reach a final approval decision on Qnexa.