This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks to Watch: MGI Pharma Plunges, WebEx Climbs

Updated from 10:53 a.m. EDT

Earnings Reports & Outlooks

  • FileNet (FILE), a maker of content management software, reported first-quarter earnings of 4 cents a share, beating estimates by 3 cents. The company expects second-quarter earnings of 2 cents to 5 cents a share, which would be below the consensus target of 6 cents. Shares of FileNet were gaining 11% to $17.10.

  • Iona Technologies (IONA) met analysts' expectations for the first quarter, posting a loss of 8 cents a share, excluding items. The company also projected a second-quarter loss, before items, of 2 cents to 6 cents a share, but Wall Street expects a profit of 5 cents. The stock was down 13% to $13.03.

  • Kana Software (KANA) reported first-quarter earnings, before items, of 2 cents a share, which met analysts' estimates. Revenue fell to $25 million from $37 million a year ago. The stock was down 10% to $12.74.

  • MGM Mirage (MGG), the casino operator, was up 8% to $38.86, a 52-week high, after reporting first-quarter earnings that easily beat expectations. The company said revenue slipped to $1.02 billion from $1.07 billion a year ago.

  • Millipore (MIL) posted first-quarter earnings from continuing operations of 40 cents a share, topping expectations by a penny. Shares of Millipore, which provides technology and services to companies developing therapeutic drugs, were up 7% to $42.75.

  • Siebel (SEBL) was down 8% to $26 ahead of its quarterly earnings release scheduled for later Wednesday. Analysts polled by First Call expect the company to earn 12 cents a share, down from 15 cents in the year-ago quarter.

  • WebEx Communications (WEBX) was up 13% to $17.90 after reporting first-quarter earnings, before items, of 3 cents a share, a penny ahead of estimates. The company also forecast second-quarter earnings of 3 cents to 5 cents, compared with the consensus estimate of 4 cents.

    Miscellaneous News

  • MGI Pharma (MOGN) disclosed a series of corporate developments, and shareholders decided the bad outweighed the good as they sent the company's shares down 37% to $9.25. MGI said it has stopped a late-stage clinical trial of irofulven as a drug candidate for pancreatic cancer, but the company will continue evaluating the product for other uses. The company also said a separate trial for palonosetron, a treatment for chemotherapy-induced nausea and vomiting, met the primary goal of its trial. MGI is developing palonosetron with a privately held Swiss pharmaceutical company. In addition, MGI reported a first-quarter loss of 25 cents a share, much narrower than analysts were expecting, and to complete the deluge of news, the company named Lonnie Moulder president and chief operating officer. Charles Blitzer will remain chief executive and will also be appointed chairman.

    Check Out Our Best Services for Investors

    Action Alerts PLUS

    Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

    Product Features:
    • $2.5+ million portfolio
    • Large-cap and dividend focus
    • Intraday trade alerts from Cramer
    Quant Ratings

    Access the tool that DOMINATES the Russell 2000 and the S&P 500.

    Product Features:
    • Buy, hold, or sell recommendations for over 4,300 stocks
    • Unlimited research reports on your favorite stocks
    • A custom stock screener
    Stocks Under $10

    David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

    Product Features:
    • Model portfolio
    • Stocks trading below $10
    • Intraday trade alerts
    14-Days Free
    Only $9.95
    14-Days Free
    Dividend Stock Advisor

    David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

    Product Features:
    • Diversified model portfolio of dividend stocks
    • Updates with exact steps to take - BUY, HOLD, SELL
    Trifecta Stocks

    Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

    Product Features:
    • Model Portfolio
    • Intra Day Trade alerts
    • Access to Quant Ratings
    Real Money

    More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

    Product Features:
    • Access to Jim Cramer's daily blog
    • Intraday commentary and news
    • Real-time trading forums
    Only $49.95
    14-Days Free
    14-Days Free
    GOOG $698.05 0.82%
    TSLA $222.32 -4.30%
    YHOO $36.02 0.04%
    AAPL $94.35 -0.87%
    FB $118.10 0.57%


    Chart of I:DJI
    DOW 17,673.90 -77.01 -0.43%
    S&P 500 2,050.48 -12.89 -0.62%
    NASDAQ 4,727.83 -35.3940 -0.74%

    Free Reports

    Top Rated Stocks Top Rated Funds Top Rated ETFs