The Day's Winners
Allscripts Healthcare Solutions
tacked on 11% to $3.13 on an upgrade from Raymond James. The firm upped its rating on the stock to speculative outperform from market perform based on valuation. The firm set a price target of $4 on the stock.
Shares of biotech firm
moved up 7% to $7.60 on news that the company is ready to file for Food and Drug Administration approval of its blood substitute Hemopure. The filing will likely be Wednesday, although the drug's clinical trials were completed in November 2000. Biopure has yet to release full results of those tests.
was climbing 6% to $7.45 after the company announced a new research and development contract with the U.S. Army. Liquidmetal will develop rods to be used in armor-piercing ammunition. The $2 million contract lasts for 15 months.
rose 14% to $19.96 after the company posted better-than-expected results and forecast full-year earnings ahead of estimates. RehabCare earned 32 cents a share in the latest quarter, down from 43 cents a share a year ago, but a penny better than the consensus estimate. For the full year, the company expects earnings at the low end of its previous guidance of $1.45 to $1.55 a share, still ahead of estimates of $1.38.
The Day's Losers
dipped 2% to $44.49 after an appeals court in the U.K. ruled in favor of
in a long-running patent dispute. Amgen argued that Transkaryotic's antianemia drug violates its patents, but the appeals court disagreed, reversing a previous ruling upholding the patent.
Youth apparel retailer
was falling 19% to $18.16 on a lowered outlook caused by slumping sales. The company expects to lose 35 cents to 40 cents a share in the second quarter, compared with estimates calling for a loss of 25 cents. Same-store sales are expected to decrease in the mid-teens, on a percentage basis.
Shares of specialty retailer
plunged 32% to $15.29 after the company lowered second-quarter estimates on weak July sales. The company now expects 13 cents a share on sales of $92 million in the quarter, compared with estimates of 15 cents. The company said July same-store sales will fall about 3% to 4% from the year-ago quarter and added that August sales will be weaker as well. Hot Topic expects to earn 27 cents to 29 cents a share in the third quarter, compared with the consensus of 32 cents.
lost 36% to $14.11 after a ruling from a bankruptcy judge expanded claims by asbestos litigants in a suit against the packaging company. The suit centers on charges that Sealed Air's 1998 acquisition of the food packaging business of chemicals company
, which had been bankrupted by asbestos claims, was a fraudulent transfer. The bankruptcy court expanded the suit to include asbestos claims made after the 1998 acquisition. Sealed Air was downgraded on the news to hold from buy by several Wall Street firms as a result.