Thursday's Health Winners & Losers

Earnings filed in on Thursday nudging a few health stocks, like Cubist Pharmaceuticals(CBST Quote), which climbed 15%.

Cubist Pharmaceuticals reported second-quarter earnings of $14.4 million, or 24 cents a share, in comparison to a loss of $5.1 million, or 9 cents a share, in the comparable year-ago period. Analysts polled by Thomson Financial, had expected 16 cents a share.

Cubist's strong sales were due to Cubicin, which saw an increase of 52% to $69.5 million from $45.7 million in the prior year. Lazard upgraded the stock to hold from sell on Thursday. Shares were up $3, at $22.99.

Also getting a boost from earnings, MGI Pharma(MOGN Quote) gained $1.65, or 6.5%, to $26.71, after positive earnings. The biopharmaceutical company reported GAAP earnings of $2.1 million, or 3 cents a share, compared to a loss of $19.4 million, or 25 cents a share, in the same quarter in 2006. Analysts polled by Thomson Financial expected a loss of 1 cent a share.

The Nasdaq Biotechnology index, of which MGI is a component, was up 3.85, or 0.5%, to 821.88 on Thursday. Baxter International(BAX Quote) beat earnings expectations Thursday morning, but suffered a recall on 4,500 Colleague triple-channel infusion pumps. The stock lost $2.19, or 3.7%, to $56.43.

Down after earnings and a scaled back forecast, ICUI Medical(ICUI Quote) lost $4.23, or 10.4%, to $36.65. ICUI now anticipates earning $1.50 a share compared to previous guidance of $1.62 a share for the year.