Wednesday's Early Winners & Losers
Diamond (DTPI), a Chicago-based management-consulting firm, slumped after tamping down its guidance for the quarter already in progress. It now projects earnings of between 6 cents and 7 cents a share, compared with its prior outlook of 8 cents to 10 cents. Wall Street is seeking 9 cents a share.
Revenue should now range between $41.5 million and $42.5 million -- at least $3.8 million under targets -- compared with the company's previous forecast of $44 million to $47 million. Shares were off $1.65, or 11.1%, to $13.20.
Maxygen (MAXY) slid after Switzerland's Roche decided to terminate its yearlong agreement with the California-based biotech regarding development of Maxy-VII, a treatment for acute bleeding indications, as of April 12.
Roche, which was to lead late-stage clinical development of the drug candidate, cited the companies' inability to perform adequate de-risking prior to clinical trials. It has now relinquished all of its rights to the product back to Maxygen. The latter was down 75 cents, or 7.1%, to $9.75.
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