Thursday's Winners & Losers: Kosan Biosciences

Kosan Biosciences(KOSN Quote) jumped $3.77, or 228.5%, to $5.42 on the report that Bristol-Myers Squibb(BMY Quote) is acquiring the cancer-drug specialist for $5.50 a share.

MasterCard's(MA Quote) bullish outlook helped buoy financial stocks Thursday.

The electronic payment processor's shares jumped 7.9% after the company said it expected double-digit net revenue growth in 2008 said that strong gross dollar volume growth worldwide led to the positive expectations. Shares gained $22.61 to $309.50.

Countrywide Financial(CFC Quote) climbed 8.2% to $5.39 after the Securities and Exchange Commission declared effective a registration of 132.8 million shares of Bank of America(BAC Quote) to be issued as consideration in the companies' merger. Rumors have persisted that the deal might not go through, but the registration demonstrates that the plan is progressing.

German chipmaker Infineon Technologies(IFX Quote) tumbled on the company's warning that third-quarter revenue would fall short of projections. The stock fell $1.18, or 11.9%, to $8.78, its second decline for the week. The stock dropped 4% Tuesday after the CEO was sacked.

Sangamo Biosciences (SGMO Quote) gave up $1.29, or 10.5%, to $11.04, after Brean Murray Carret & Co. analyst Jonathan Aschoff initiated coverage on the stock with a sell rating and a $5 price target. Aschoff expects trials on SB-509 -- which uses the company's zinc finger DNA-binding protein technology to modify genes -- in diabetic neuropathy will leave investors disappointed.

Ultralife Batteries (ULBI Quote), which makes power and communications systems, jumped 31.4% to $12.71. The Newark, N.Y.-based company raised second-quarter revenue guidance to $75 million from between $60 million and $70 million. Analysts surveyed by Thomson Reuters are expecting $60.4 million. For the full year, Ultralife said revenue would be at least $250 million, ahead of the consensus estimate of $240.3 million.