Winners & Losers
One of the winners was Quest Diagnostics(DGX), who said it earned $139.6 million, or 72 cents a share, in the most recent quarter, up from $105.9 million, or 54 cents a share, last year. Revenue rose to $1.78 billion from $1.58 billion. Analysts expected 70 cents a share on revenue of $1.78 billion.
Quest also reaffirmed its full-year profit forecast of between $3 and $3.20 a share on revenue of roughly $7.28 billion. Shares were up $3.31, or 7.3%, to $48.93. Storage and server systems manufacturer Rackable(RACK) gained 68 cents, or 7%, to $10.37 after an analyst at Canaccord Adams, Mark Kelleher, upgraded the shares to buy from hold and offered a price target of $12.20. The company's container business will become a key driver for growth, said Kelleher. The adoption of modular data centers by Internet-based companies such as Microsoft(MSFT) and Yahoo(YHOO) will also provide Rackable with a differentiated product and a path to top-line growth, he said. Biopharmaceutical company Amylin(AMLN) reported a quarterly loss of $68.8 million, or 51 cents a share, vs. a loss of $49.4 million, or 38 cents a share, a year earlier. Revenue rose to $197.2 million from $171.9 million, but still missed targets due to lower-than-expected sales of the diabetes drug Byetta. Analysts surveyed by Thomson Financial had expected a loss of 48 cents a share on revenue of $233 million. The company also lowered its 2008 revenue guidance to a range of $900 million to $950 million, from $900 million to $1 billion. Shares were off by $3.43, or 10.9%, at $27.98. Shares of Marvell(MRVL) added 66 cents, or 5.8%, to $11.97 following a JPMorgan analyst report suggesting that Marvell is on track to exceed revenue estimates for the first quarter. The upside is likely to come from better-than-expected sales of the company's storage chips, the analyst said. Also on the winning side, Cupertino, Calif.-based Packeteer (PKTR), which provides wide area network application delivery systems, jumped 13.1% to $6.99. Blue Coat Systems (BCSI) said it would buy the company for $268 million, or $7.10 a share, in cash. Among the losers, computer security tools provider Aladdin Knowledge (ALDN) saw shares fall 27.4% to $15.80. The Petach Tikva, Israel-based company reported first-quarter earnings before items of $4 million, or 29 cents a share, vs. $4.3 million, or 29 cents a share, a year ago. Analysts polled by Thomson Financial were looking for EPS of 30 cents. The company also forecast full-year 2008 EPS between $1.08 and $1.18, below the Street's estimate of $1.33.TheStreet Premium Services
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