Wednesday's Early Winners & Losers
Human Genome also said it has begun dosing in a late-phase trial of its hepatitis C treatment Albuferon, in combination with ribavirin, on strong interim results from a phase IIb study. Swiss drugmaker Novartis (NVS) is developing the product with Human Genome. The latter was up 27 cents, or 2.5%, to $11.23. Novartis shares were recently adding 18 cents to $55.50.
Komag (KOMG) was higher after the San Jose, Calif,-based maker of data-storage disks said it will supply disk-drive maker Seagate (STX) with aluminum substrates in addition to its existing media supply agreement. Komag shares were rising 69 cents, or 2.1%, to $33.50. Seagate stock was unchanged.
Bitstream (BITS), which develops software for fonts, browsing and publishing, slid on disappointing fourth-quarter results. The Cambridge, Mass., company whittled its fourth-quarter profit down to $630,000, or 6 cents a share, from last year's $788,000, or 8 cents a share. Revenue was up 20% to $5.5 million. Shares were losing $1.38, or 13.4%, to $8.89.
Transmeta (TMTA) widened its fourth-quarter losses to $15.9 million, or 8 cents a share, from $2.1 million, or a penny a share, a year ago. The Santa Clara, Calif., semiconductor company's sales plummeted to $2.4 million from $13.3 million last year. Two analysts were looking for 6-cent losses on $3 million in revenue. Shares were dropping 6 cents, or 7.2%, to 81 cents.Autodesk (ADSK) fell after the San Rafael, Calif., technical-software company announced it will restate its financials downward from fiscal years 2003 through 2006, having completed its stock-option grant investigation. The company estimates pretax, noncash charges will range between $38 million and $45 million for stock-option expenses over the past 18 years, with an estimated $23 million to $26 million contained in the 2003-06 period. The remainder will be recorded for year-end 2002. Shares were down $2.35, or 5.8%, to $38.45.
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