Wednesday's Winners & Losers: SanDisk
Shares of Yahoo! (YHOO) were up $1.35, or 6.7%, to $21.55 following renewed speculation that Microsoft (MSFT) is still interested in buying it. Microsoft has talked to other media companies such as News Corp. (NWS) and Time Warner (TWX) in a bid to create a partnership to acquire Yahoo!, said a report in The Wall Street Journal.
Shares of Microsoft lost 56 cents, or 2.1%, to $26.31.
SanDisk (SNDK) recovered from its 52-week low Tuesday and gained $1.51, or 8.6%, to $19.13 after an analyst at ThinkPanmure suggested NAND memory chip pricing could stabilize due in part from upcoming demand by Apple (AAPL).
Small-cap Titan Pharmaceuticals (TTP) said Wednesday that its initial analysis of a phase IIb trial show that there were no significant differences between patients with advanced Parkinson's disease who received Spheramine and those who underwent a so-called sham surgery, after 12 months of follow-up. The study met neither its primary nor secondary goals. Titan said it doesn't expect its partner Bayer Schering Pharma will continue development of the product. Shares dropped 58 cents, or 44.3%, at 73 cents.
Maxygen (MAXY) shares leapt after the company announced Bayer HealthCare is buying the company's hemophelia program assets, including a recombinant Factor VII protein, MAXY-VII, for $90 million upfront and a potential milestone payment of $30 million. The lead therapeutic candidate in the program is expected to enter phase I testing in the third quarter. Maxygen shares climbed 99 cents, or 28.2%, to $4.50 on the news. Among the winners, Seattle-based medical device company Northstar Neuroscience (NSTR) was up 22.7% to $1.84. On Wednesday, Tang Capital Partners announced a proposal to acquire Northstar for $2.25 per share. Vehicle rental agency Avis Budget Group (CAR) was down 22% to $5.69. The company announced on Wednesday that is sees second-quarter and full-year numbers coming in lower than analyst expectations.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
TheStreet Quant Ratings
TRY IT FREENew! $49.95/yr
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
- Upgrade/downgrade alerts
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Dividend Stock Advisor
TRY IT FREEJim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
