Early Stocks in Motion

Biogen and Elan are hit anew after another Tysabri patient dies.
By Mike Marino ,

Biogen

(BIIB) - Get Report

and

Elan Pharmaceuticals

(ELN)

uncovered a third case of a rare, often fatal central-nervous-system disease linked to a patient who had used the multiple sclerosis drug Tysabri. The companies pulled Tysabri from the market Feb. 28 after receiving reports of one death linked to a patient who had taken the drug during clinical trials. A second case of the rare disease was confirmed later, and now the companies say a third patient taking Tysabri during a clinical trial for Crohn's disease contracted the rare disease, known as progressive multifocal leukoencphalopathy, or PML.

Western Digital

(WDC) - Get Report

said it expects to earn between 29 cents and 31 cents a share on revenue of $900 million to $915 million in the third quarter. The company previously gave guidance of 16 cents to 19 cents a share on revenue between $885 million and $915 million. Analysts were expecting 18 cents a share on revenue of $901 million, according to Thomson First Call. The company cited strong consumer demand for hard drives in desktop PCs and digital video recorders for the upward revision. The stock was up $1.43, or 12.8%, to $12.60 in the after hours.

McDonnell Douglas, a unit of

Boeing

(BA) - Get Report

, said it has received a $609.3 million contract to supply the Air Force with kits to modify bombs that have sophisticated guidance systems. The contract runs through February 2007. According to the Pentagon,

Honeywell

(HON) - Get Report

will share a quarter of the work. Both stocks were unchanged in aftermarket trading.

Continental Airlines

(CAL) - Get Report

announced that its pilots have ratified a new 45-month contract with the carrier. The company said the contract will save $213 million annually. The airline's 100 flight dispatchers also ratified a new contract designed to save Continental $736,000 annually, the Transport Workers Union, which represents the dispatchers, confirmed Wednesday. The stock was up 12 cents, or 1%, to $12.01 in after-hours trading.

St. Paul Travelers

(STA)

announced that it will recognize a one-time tax charge of $690 million from the sale of its ownership interest in Nuveen Investments. The company said as a result of the sale, it will report its asset management segment as a discontinued operation in the company's financial statements during the first quarter of 2005. The stock was unchanged at $36.71.

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