The Day's Winners
was gaining 17% to $13.10 after the company reaffirmed its second-quarter guidance. The company also said it would see net customer growth in the quarter. The guidance comes after shares were battered Friday on rumors that the company would bring down its forecast by as much as 40%.
rose 31% to $3.94 after the company amended its merger agreement with
. Petroleum shareholders will now receive 0.38 shares of the new holding company for each of their shares, while Veritas shareholders will receive one share. Petroleum will end up with 55% of the new company. Both companies said they expect the transaction to close in the third or fourth quarter of 2002.
was climbing about 65% to $2.80 on news the company will be acquired by
for $100 million, or $3 a share in cash. Wink, which develops interactive television products, will be merged into Liberty's Broadband Interactive unit. Assuming Wink shareholder approval, the acquisition would close in the third quarter.
added 15% to $1.51 after the company said it had signed a contract extension with
broadband communications division. The companies will continue to work together to develop the WorldGate Interactive TV Service to be used on Motorola's interactive digital cable set-top boxes.
The Day's Losers
fell 14% to $10.10 after
Moody's Investors Services
downgraded the company's long-term debt. Moody's also cut its rating on
, which is majority-owned by France Telecom.
slid 49% to $5.42 after the company reported disappointing results from its Phase III tests of the morphine drug MorphiDex. The study's goal was to show that the daily dose of morphine needed to control pain was lower when given in combination with a receptor antagonist. The company said the study showed no statistically significant difference between the combination treatment and the control drug. Endo said it will analyze the results before it can amend its
Food and Drug Administration
plunged 47% to $2.14 on disappointing news for two of its new cancer treatments. The company said
was halting development of one drug after Phase I trials. ImmunoGen said it will renegotiate the deal with Glaxo, and if a new agreement can't be reached, rights for the drug revert to ImmunoGen. The company also said that
is planning more animal tests for another cancer treatment co-developed with ImmunoGen before moving on to human testing.
dropped 32% to $8.98 after the company slashed its third-quarter outlook by 50% and said weakness will continue into the fourth quarter. Microsemi said the shortfall will be caused by lower demand for products in the commercial aircraft, commercial space, computer and mobile handset, and military businesses.