Solexa( SLXA) surged 32% on news that it will be acquired by Illumina (ILMN) - Get Report for $600 million. The deal is worth $14 a share, a 45% premium over Solexa's Friday closing price. San Diego-based Illumina will also buy $50 million worth of new Solexa shares.
Solexa, a Hayward, Calif., developer of genetic-analysis technologies, also posted a third-quarter loss of $9.9 million, or 27 cents a share, compared with a loss of $10.8 million, or 43 cents a share, a year ago. Solexa was trading up $3.13 to $12.83. Illumina, meanwhile, sank on the acquisition news, trading down $4.30, or 9.8%, to $39.75.
China Automotive Systems
soared on impressive third-quarter results. The China-based company, which manufactures automotive systems and components, reported that earnings rose 40% from a year ago to $1.5 million, or 7 cents a share. Revenue climbed to $22.7 million from $14.8 million a year ago. Shares were up $1.72, or 22.2%, to $9.47.
Van der Moolen
( VDM) jumped on news that the Amsterdam-based stock trader will release its third-quarter results on Nov. 14, two days earlier than it had originally planned. Shares were up 52 cents, or 9.4%, to $6.07.
shot up after the company said two studies of its experimental cholesterol treatment ISIS 301012 had positive effects on participants in the trials. When the compound was used in conjunction with stable doses of statins, patients with high cholesterol experienced a 51% reduction in low-density lipid cholesterol, a 42% decline in total cholesterol and a 41% dropoff in triglycerides beyond the levels achieved with statins alone.
A second study expanded on prior trials that tested ISIS 301012 on high-cholesteral patients without the help of statins, increasing the dosage by half for the new study. This further reduced atherogenic lipids, with improvements in LDL cholesterol, total cholesterol and triclycerides. Shares were up $2.35, or 22.7%, to $12.73.
shares fell on third-quarter results that missed Wall Street expectations. The Youngsville, N.C.-based company, which manufactures clothing and roll covers used to produce paper, had a profit of $5.7 million, or 13 cents a share, reversing a loss of 8 million, or 18 cents a share, a year ago. Still, analysts were projecting earnings of 26 cents a share. Shares were down $1.53, or 13.1%, to $10.14.
plummeted after the company received a letter from the American Stock Exchange saying that it wasn't in compliance with certain continued listing standards. Specifically, Amex expressed concern regarding Bodisen's internal controls related to its accounting and financial reporting obligations. To maintain its listing, Bodisen intends to submit a plan to Amex spelling out what actions it has taken and will take in order to bring itself in line with the exchange's requirements. Shares were down $2.18, or 20.3%, to $8.56.
dropped on news of major management changes. The Peabody, Mass.-based health and security systems manufacturer said that Chief Executive Officer John W. Wood Jr., who has been Analogic's CEO since August 2003, will leave on Dec. 31.
While Analogic searches for a new CEO, company founder and Chairman Emeritus Bernard Gordon, Wood's immediate predecessor, will act as executive chairman. John A. Tarello, the company's former chairman, will act as vice chairman. In another management change Dr. Edmund F. Becker Jr. was appointed president and chief operating officer from his previous role of executive vice president and COO. Shares were down $6.11, or 10.5%, to $52.11.