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

Updated from 2:52 p.m. EST with new stock prices

Biotech stocks took to both directions Thursday, but speculation and earnings weren't enough to ameliorate the midweek sag.

In collaboration news, Amicus Therapeutics (FOLD - Get Report) announced a deal with Shire (SHPGY) to develop Amicus' three lead compounds for rare genetic disorders Pompe disease, Goucher's disease and Fabry disease. Shares rose 67 cents, or 4.2%, to $16.75.

Also, Biogen Idec (BIIB) shares gained $3.86, or 5.4%, to $74.99 after The Financial Times' dealReporter raised speculation about likely bidders for the biotech company, namely, Pfizer (PFE), Merck (MRK) and Johnson & Johnson (JNJ).

Elsewhere, earnings ruled (and sometimes ruined) the day.

King Pharma (KG) reported net earnings (excluding items) of $128 million, or 52 cents a share, during the third quarter, compared to net earnings of $106 million, or 44 cents a share, in a year ago. Total revenue increased 11% to $545 million, surpassing the Thomson Financial consensus target of 45 cents a share on revenue of $528.4 million.

Shares added $1.37, or 13.6%, to $11.42. King is a component of the Amex Pharmaceutical index, which was essentially flat.

Noven Pharmaceuticals (NOVN) reported a net loss of $59 million, or $2.38 a share, including the impact of the charges (namely a $100.2 million charge for the acquisition of JDS Pharmaceuticals). Excluding charges and related tax-effects, the company said net income for the current quarter would have been $7.6 million, or 30 cents a share, compared to $5 million, or 20 cents a share, a year ago. Noven reported net revenue increased 39% to $21.8 million. The Thomson Financial consensus target was 17 cents a share on revenue of $23.5 million.

1 of 2

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
Submit an article to us!
SYM TRADE IT LAST %CHG
BIB $152.45 -4.03%
BCRX $9.26 -2.88%
CORT $5.66 -2.92%
FOLD $10.28 -4.46%
AAPL $125.80 -2.25%

Markets

DOW 17,928.20 -142.20 -0.79%
S&P 500 2,089.46 -25.03 -1.18%
NASDAQ 4,939.3270 -77.6020 -1.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs