Health Stocks in Motion
Updated from 2:24 p.m. EDT
Shares of OraSure Technologies (OSUR) were among the worst-performing health and pharmaceutical stocks Wednesday after the company posted break-even earnings on stronger-than-expected sales but warned that it may not attain full-year profitability.
The diagnostics company reported break-even earnings on sales of $13.2 million. Analysts polled by Thomson First Call had expected it to post a loss of 1 cent a share on sales of $12.8 million. Looking ahead, it forecast full-year sales of $51.5 million to $52.5 million but said that its ability to turn a profit for the year is "now a bit more uncertain." Additional expenses and patent litigation "will make it difficult to achieve full-year profitability in 2004," the company said. Analysts were looking for earnings of 2 cents a share for the year on sales of $51.8 million. Shares of OraSure Technologies traded down $1.42, or 19.3%, to $5.93.
Impax Laboratories (IPXL) fell after it posted weaker-than-expected second-quarter earnings. The pharmaceutical company earned a penny a share on sales of $30.8 million. Analysts were looking for earnings of 3 cents a share on sales of $30.6 million. A year ago it posted a loss of 5 cents a share on sales of $14.1 million. Impax Laboratories shares traded down $1.97, or 14.1%, to $12.Shares of Reliv International (RELV) rose after the company posted in-line second-quarter earnings on better-than-expected sales. The marketer of nutritional supplements posted earnings of 8 cents a share on sales of $23.9 million. Analysts were looking for 8 cents a share on sales of $21.4 million. A year ago it posted earnings of 6 cents a share on sales of $17.8 million. Shares of Reliv International traded up $1.15, or 16.1%, to $8.28. Nanogen (NGEN) fell after it posted a second-quarter loss on declining sales. The San Diego-based biotechnology diagnostics company posted a loss of 38 cents a share on sales of $1.1 million. A year ago it reported a loss of 32 cents a share on sales of $1.7 million. This year's second quarter included an inventory reserve charge of $1.5 million and a research and development writeoff of $3.8 million. Looking ahead, Nanogen said it does not expect a sales increase for 2004 vs. 2003. Shares of Nanogen traded down 99 cents, or 20.6%, to $3.81.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV