Today's Health Winners and Losers

MedImmune shares tumble after first-quarter results disappoint.
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Shares of

MedImmune

(MEDI)

were among the worst-performing health-related stocks Thursday, slumping 12% after drugmaker posted weaker-than-expected first-quarter results and cut its full-year forecast.

MedImmune earned $47 million, or 18 cents a share, on revenue of $498 million. Excluding stock-based compensation costs, the company earned $59 million, or 23 cents a share. Analysts polled by Thomson First Call expected earnings, excluding stock-based compensation costs, of 27 cents a share, with revenue of $540.3 million. During the year-earlier quarter, the company earned $114.1 million, or 45 cents a share, on revenue of $509.8 million. MedImmune attributed the weak results to disappointing sales of its Synagis, a treatment for a respiratory disease in children.

Looking ahead, MedImmune now sees 2006 earnings, excluding stock-based compensation costs, of 30 cents to 35 cents a share, down from an earlier view of 40 cents to 45 cents a share. Analysts project earnings of 40 cents a share, excluding stock-based compensation costs. Shares were trading down $4.30 to $31.04.

Quest Diagnostics

(DGX) - Get Report

rose 9% after the medical testing company posted better-than-expected first-quarter results and raised its guidance. The company earned $144.6 million, or 72 cents a share. The results included a charge of 8 cents a share, stock-based compensation costs of 6 cents a share and an investment gain of 5 cents a share. Analysts expected earnings, including stock-based compensation costs, of 65 cents a share. Quest's revenue totaled $1.56 billion, above analysts' forecast of $1.51 billion. During the year-earlier quarter, the company earned $131.6 million, or 64 cents a share, on revenue of $1.32 billion.

Looking ahead, Quest sees 2006 earnings of $2.85 to $2.95 a share, up from an earlier view of $2.75 to $2.85 a share. The projection does not include one-time items. Analysts expect earnings of $2.83 a share. Shares were up $4.68 to $55.16.

Shares of

Cubist Pharmaceuticals

(CBST)

rose 8% after the biopharmaceutical company posted a smaller first-quarter loss as revenue jumped nearly 70%. The company reported a loss of $5.9 million, or 11 cents a share, on revenue of $40.1 million. Excluding stock-based compensation costs, the company's loss totaled of $3.3 million, or 6 cents a share. Analysts expected a loss of 9 cents a share and revenue of $41.5 million. It wasn't clear if the company's loss per share and First Call estimates were comparable. Last year, the company posted a first-quarter loss of $12.9 million, or 25 cents a share, on revenue of $23.7 million. Shares were trading up $1.77 to $22.93.

Endo Pharmaceuticals

(ENDP) - Get Report

fell 2% after the drugmaker's first-quarter results missed expectations. The company earned $20.5 million, or 15 cents a share, on revenue of $205 million. Excluding items, the company earned $55.2 million, or 41 cents a share. Analysts expected earnings of 43 cents a share and revenue of $208.2 million. Last year, the company posted adjusted earnings of $26.3 million, or 20 cents a share, on revenue of $137.8 million.

Looking ahead, Endo continues to project full-year adjusted earnings of $1.75 to $1.80 a share, with revenue of $860 million to $880 million. Analysts project earnings of $1.76 a share and a top line of $879.3 million. Shares were trading down 73 cents to $31.87.

Shares of

Schering-Plough

(SGP)

rose 3% after the drug company turned in higher-than-expected first-quarter results. The company earned $350 million, or 24 cents a share, on revenue of $2.55 billion. Analysts expected earnings of 14 cents a share on revenue of $2.49 billion. During the year-earlier period, the company earned $105 million, or 7 cents a share, on revenue of $2.37 billion. "Our businesses are performing well across multiple fronts and geographic regions," the company said. "We've driven top-line growth while exercising financial discipline and gaining greater efficiencies. These fundamentals have translated into significant bottom-line growth." Shares were trading up 52 cents to $19.41.

Other health care volume movers included

Gilead Sciences

(GILD) - Get Report

, up 3 cents to $65.16;

Pfizer

(PFE) - Get Report

, up 9 cents to $24.91;

Boston Scientific

(BSX) - Get Report

, up 46 cents to $22.25;

UnitedHealth Group

(UNH) - Get Report

, up 40 cents to $49.58;

Medtronic

(MDT) - Get Report

, up 59 cents to $49.70;

Amgen

(AMGN) - Get Report

, up 46 cents to $68.76;

Johnson & Johnson

(JNJ) - Get Report

, up 26 cents to $58.28;

Merck

(MRK) - Get Report

, up 64 cents to $35.04; and

Bristol-Myers Squibb

(BMY) - Get Report

, down 3 cents to $24.70.