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.
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