Health Stocks in Motion

Hologic jumps 19% on a big earnings beat.
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Updated from 2:39 p.m.

Shares of

Hologic

(HOLX) - Get Report

were among the best-performing health-related stocks Wednesday, rising 17% after the company posted first-quarter earnings that easily surpassed analysts' expectations.

The maker of digital imaging systems earned $4.6 million, or 21 cents a share, on sales of $66.2 million. Analysts polled by Thomson First Call were expecting earnings of 10 cents a share. A year ago, the company earned $1 million, or 5 cents a share, on sales of $49.9 million. The company sold and installed 50 Selenia digital mammography systems during the quarter, fueling the company's mammography sales, which jumped 64% to $36.8 million. Shares traded up $5 to $34.48.

Select Medical

(SEM) - Get Report

fell 1% after the company said it would sell up to $660 million in subordinated notes due 2015. Select will use the proceeds from the offering to fund part of a previously announced acquisition, to refinance existing debt, and to pay related fees and expenses. The offering is contingent upon Select completing its merger with an affiliate of Welsh, Carson, Anderson & Stowe IX. Select expects to complete the debt offering in February. Shares traded down 10 cents to $17.72 on volume of 7.3 million shares, or more than 6 times its average daily volume.

Shares of

ImClone Systems

(IMCL)

rose 8.7% after the company posted fourth-quarter earnings and sales that beat expectations. Excluding legal settlement charges, the company earned 48 cents a share on sales of $107.3 million. Analysts were expecting earnings of 39 cents a share on sales of $93.5 million. U.S sales of the company's Erbitux drug rose to $87.8 million during the fourth quarter from $84.1 million during the third quarter. Shares traded up $3.24 to $40.69.

Connetics

(CNCT)

rose 9% after the company delivered fourth-quarter earnings and sales that beat expectations. The specialty pharmaceutical company earned $6.4 million, or 17 cents a share, on sales of $43.8 million. Analysts were expecting earnings of 16 cents a share on sales of $42.8 million. The results were aided by a 19% jump in sales of Olux and Luxiq. Shares traded up $1.98 to $24.

Other health care movers included

Aastrom Biosciences

(ASTM)

, down 40 cents to $3.20;

Pfizer

(PFE) - Get Report

, unchanged at $24.59;

StemCells

(STEM)

, down 53 cents to $4.39;

Johnson & Johnson

(JNJ) - Get Report

, up 93 cents to $64.65;

Amgen

(AMGN) - Get Report

, up $1.39 to $63.56; and

Merck

(MRK) - Get Report

, up 22 cents to $31.17.