Tuesday's Health Winners & Losers

Medtronic turned investors on with earnings results, other stocks moved on regulatory news, but overall biotech stocks had little to be thankful for on a second glum day this holiday-shortened week.

Medtronic(MDT Quote) rose post-earnings after analysts suggested shares had found the bottom and the worst may be over the for the medical device maker, which earlier this fall recalled its Fidelis leads and hastily ramped-up supply of its Quattro lead to meet the subsequent demand. Earnings fell 2% in the fiscal second quarter in light of the Fidelis recall, but investors saw a negative impact that was less severe than expected and shifted focus to Medtronic's completed Kyphon acquisition among other things. Shares climbed $3.47, or 7.7%, to $48.72.

Following a meeting with the Food and Drug Administration and the principal investigator at the National Cancer Institute, Delcath Systems(DCTH Quote) said Tuesday that the agency has allowed it to resume enrollment in phase III and phase II clinical trials of the Delcath System. The system is designed to deliver chemotherapeutic agent Melophan to the liver for cancer patients who have liver tumors that cannot be removed.

On Oct. 23, the company put enrollment on hold in response to an FDA inquiry into serious gastrointestinal adverse events in four patients, two of whom died, in trials prior to a protocol amendment. Shares rose 69 cents, or 47.6%, to $2.14.