Friday's Winners & Losers: Novell

Novell(NOVL Quote) gained 91 cents, or 13.9%, to $7.45 after the company raised its fiscal 2008 sales outlook. Novell said it now expects revenue in the range of $940 million to $970 million, higher than its earlier forecast of $920 million to $945 million. Analysts are expecting revenue of $933.6 million.

Fremont General (FMT Quote) shares were in free fall, losing 57.6% at $1.00. The Brea, Calif.-based financial services holding company announced it was exploring the idea of selling itself as it faces asset writedowns.

Citadel Broadcasting (CDL Quote) also skidded. Shares traded down 19.9% to $1.09 after the Las Vegas radio company widened its fourth-quarter loss to $848 million, from $1.1 million in the year-ago quarter. Adjusted earnings per share of 5 cents missed analysts' prediction of 7 cents, per Thomson Financial.

Elsewhere, Wyeth(WYE Quote) rose after terminating its collaboration with Belgium's Solvay Pharmaceuticals to develop bifeprunox and other compounds in earlier stages of development to treatment schizophrenia and other psychiatric conditions.

The company said it concluded that bifeprunox wouldn't have sufficient commercial value for the two companies to share. All development and commercialization rights in North America are being returned to Solvay.

Shares advanced $1.08, or 2.5%, to $43.62.

Shares of 3Com(COMS Quote) jumped 38 cents, or 13.1%, to $3.29 on investor hopes that the buyout deal with Bain Capital Partners could still go through. On Feb. 20, 3Com and Bain Capital indicated that security concerns over Chinese company Huawei's stake in the merger scuttled the deal. A report in the Wall Street Journal indicated Thursday that 3Com and Bain could still hammer out an agreement that would address those security-related issues.

For a second day, Gilead(GILD Quote) benefitted from the recommendation of a data and safety monitoring board that a high viral load subgroup in an HIV treatment trial be switched to from GlaxoSmithKline's(GSK Quote) Epzicom to Gilead's Truvada for safety and efficacy reasons.

Analysts believe Gilead may receive a boost as doctors switch their patients to Truvada. Shares climbed $1.86, or 4%, to $47.32.