Thursday's Winners & Losers: Kosan Biosciences

Shares jump 228.5% on a report that Bristol-Myers Squibb will buy the company.
By TSC Staff ,

Kosan Biosciences

( KOSN) jumped $3.77, or 228.5%, to $5.42 on the report that

Bristol-Myers Squibb

(BMY) - Get Report

is acquiring the cancer-drug specialist

for $5.50 a share.

MasterCard's

(MA) - Get Report

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) 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) - Get Report

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) 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) - Get Report

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) - Get Report

, 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.

Meanwhile, Atlantic City, N.J.'s

Trump Entertainment

( TRMP) saw shares leap 23.2% to $3.56 on news that the company would sell its Marina Hotel Casino for $316 million.

Wachovia analyst Michael Tong downgraded

Vivus

(VVUS) - Get Report

to market perform from outperform, on Thursday, sparking a 79-cent, or 10.7%, turn lower in shares. The stock had added 29% between last Thursday, when positive interim data for a midstage study was published in an abstract, and Wednesday's close prior to the downgrade. Tong said shares were fairly valued between $7 and $8. Shares traded to $6.57 on Thursday.

This article was written by a staff member of TheStreet.com.

Loading ...