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 Under $10 with 50-100% upside potential - 14 days FREE!

Health Stocks in Motion

Shares of Immunicon (IMMC) were among the worst-performing health-related stocks Monday, falling 7% after the company laid out plans to slash 25% of its workforce.

The company, which makes diagnostic and life-science research products, said the job cuts are being made to "align staff levels and other expenses with its current commercialization strategy and expectations for near-term revenue growth." Most of the cuts will occur in research and development, operations and certain support function, the company said. Immunicon expects to take a third-quarter charge of up to $1 million for severance and other costs related to the staff reductions.

Looking ahead, the company said that it continues to expect a 2005 cash burn of $30 million to $32 million. Immunicon expects its cost-reduction plan to mitigate its cash burn during 2006. As of July 31, 2005, the company had cash, cash equivalents and investments of $54.7 million. Shares were trading down 31 cents to $3.90.

Nutrition 21 (NXXI) rose 19% after the Food and Drug Administration approved a petition filed by the company to make a health claim about chromium picolinate and the risk of type-2 diabetes and insulin resistance. Specifically, the ruling allows the nutrition bioscience company to refer to chromium picolinate as a safe nutritional supplement that may reduce the risk of insulin resistance and type-2 diabetes. According to the FDA letter to the company, "One small study suggests that chromium picolinate may reduce the risk of insulin resistance, and therefore possibly may reduce the risk of type-2 diabetes. FDA concludes, however, that the existence of such a relationship between chromium picolinate and either insulin resistance or type-2 diabetes is highly uncertain." Nutrition 21 said the FDA declined to permit other claims proposed by the company. Shares were trading up 17 cents to $1.07.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,563.30 -317.06 -1.88%
S&P 500 1,930.67 -39.40 -2.00%
NASDAQ 4,369.7730 -93.1290 -2.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs