This Day On The Street
Continue to site right-arrow
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!

Wednesday's Early Winners & Losers

Avalon Pharmaceuticals (AVRX) was soaring some 30% in extended trading Tuesday after it struck a deal to develop cancer drugs with pharmaceutical giant Merck (MRK).

Avalon will conduct preclinical screening with its drug-discovery platform in order to develop "inhibitors for an undisclosed target" important in cancer development. In exchange, it may receive milestone payments in excess of $200 million, as well as royalties on any resultant products.

Merck will take care of any and all clinical trials and commercialization. Avalon shares were up $1.35 to $5.98. Merck stock was unchanged after closing the regular session up 42 cents, or 1%, at $44.67.

Optimal Group (OPMR), a Canadian company that provides payment-processing systems, jumped after fourth-quarter adjusted profit totaled $5.7 million, or 23 cents a share. That smashed two analysts' 4-cent estimates, according to Thomson Financial. A year ago, Optimal earned $4.8 million, or 18 cents a share. Revenue sank 35% to $33.9 million, but this still tops three analysts' $31.7 million expectations. Shares were up $1.10, or 14.1%, to $8.90.

Payless Shoesource (PSS), a discount shoe-store chain, gained after it swung to a 16-cents-per-share profit, excluding items, that powered past Wall Street's estimates of 7 cents. Last year, the Topeka, Kan., company lost a penny a share. Same-store sales were up 6.8% from a year ago, and overall revenue climbed 13% to $693 million. Shares were up $1.97, or 6.3%, to $33.40.

1 of 2

Select the service that is right for you!

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 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • 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