This Day On The Street
Continue to site
ADVERTISEMENT
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

Thursday's Health Winners & Losers

Preliminary second-quarter revenue and patent cops-and-robbers sent SonoSite (SONO) up on an otherwise ho-hum day for biotech stocks.

SonoSite, a handheld ultrasound device maker, climbed after reporting strong preliminary results for the quarter ended June 30. The company said that due to improved sales, quarterly revenue grew about 20% to more than $47 million compared to the same quarter in 2006.

For the first half of the fiscal year, SonoSite said worldwide revenue grew about 18% to some $90 million compared with $76.4 million for the first half of the previous year.

The company also said Thursday that it's filing a counterclaim against General Electric (GE) and certain of its affiliates to the complaint those parties filed against it on May 15. SonoSite said it's filing its answer to the complaint denying all of GE's claims and alleging that the asserted patents are either invalid, not infringed or both.

SonoSite alleges in the counterclaim complaint that GE and its affiliated companies infringed on its patents for two diagnostic instruments. SonoSite scaled $3.40, or 10.5%, to $36.45, while GE lost 10 cents, or 0.5%, to $38.51.

Also on the move, Cell Therapeutics (CTIC - Get Report) climbed 44 cents, or 14.6%, to $3.46.

The company said Tuesday after market close, that it named a new medical director for its XYOTAX/CT-2103 program, which involves a candidate for ovarian cancer and lung cancer in women. Dr. Jay Umbreit will take over the company's PGT307 trial. Umbreit most recently developed pharmaceutical products for PPD, a global contract research organization.

Cell Therapeutics is part of the Nasdaq Biotechnology Index, which was down 1.35, or 0.2%, to 810.89.

RadNet (RDNT - Get Report) was also up after the company announced that it had established a $445 million credit line with GE Healthcare Financial Services to refinance existing debt and also to fund working capital for future expansion.

The diagnostic imaging services company said it expects annual interest cost savings of about $5.4 million and believes the financing will be completed by August 2007. RadNet was up 20 cents, or 2.04%, to $10.

Elsewhere, Advanced Medical Optics (EYE) made a $75-a-share bid for Bausch & Lomb (BOL), according to a report in The Wall Street Journal citing people familiar with the matter. The bid would compete with Warburg Pincus' offer, valued at $45 in cash and $30 in stock.

Advanced Medical Optics rose 42 cents, or 1.2%, to $35.89, while Bausch & Lomb jumped $3.36, or 4.9%, to $72.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
CTIC $1.82 -1.09%
RDNT $6.80 -0.58%
AAPL $114.64 -3.21%
FB $94.06 -0.08%
GOOG $629.25 -0.31%

Markets

Chart of I:DJI
DOW 17,550.69 -47.51 -0.27%
S&P 500 2,093.32 -4.72 -0.22%
NASDAQ 5,105.5460 -9.8360 -0.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs