Friday's Early Winners & Losers
Pozen (POZN) jumped more than 9% in after-hours action Thursday as the Chapel Hill, N.C., drugmaker announced that the Food and Drug Administration had accepted for review Trexima, its proposed migraine treatment, based on an amended version of Pozen's approvable letter for the drug. The FDA had called the initial letter incomplete in December.
Pozen now predicts that, pending FDA approval (which the company estimates could be as early as Aug. 1), the product could be available to patients by the second half of 2007. Shares were rising $1.39, to $16, in extended trading.
Synnex (SNX) was up 5.1% in after-hours action Thursday as the distributor of information-technology products said income for the quarter ended Feb. 28 climbed to $13.9 million, or 43 cents a share, from $10.7 million, or 34 cents a share, a year ago. Analysts polled by Thomson Financial were seeking 40 cents a share. The Fremont, Calif., company also projected next-quarter profits of between 43 cents and 45 cents a share, which would top estimates by at least 3 cents. Shares were adding $1.01, to $20.75.
Jabil Circuit (JBL) slid after the St. Petersburg, Fla., company said sales for the fiscal third quarter will likely range between $2.9 billion and $3 billion -- at least $40 million under targets. The electronics-design firm also said restructuring costs will lean to the high end of its previously announced estimate of $200 million to $250 million.As for Jabil's most-recent financials, which are incomplete due to an ongoing stock-option grant investigation, revenue for the quarter ended Feb. 28 rose 27% from last year to $2.9 billion and topped estimates. Still, shares were down $1.28, or 5.1%, to $23.65.
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