were among the worst-performing health-related stocks Friday, tumbling 15% after the medical device maker posted a wider first-quarter loss and warned that second-quarter results would be below expectations.
The company reported a loss of $14.6 million, or 60 cents a share, on revenue of $46.6 million. Excluding stock-based compensation costs and a charge related to the retirement of its CEO, the company earned $155,000, or 1 cent a share. Analysts polled by Thomson First Call expected a loss of 22 cents a share, including the charges, on revenue of $45.4 million. During the year-earlier period, the company posted a loss of $6.5 million, or 29 cents a share, on revenue of $21.5 million.
FoxHollow forecast a second-quarter loss of 12 cents to 16 cents a share, with revenue of $46 million to $48 million. Excluding stock-based compensation costs, the company projects results ranging from a loss of 2 cents a share to a profit of 2 cents a share. Analysts expect a loss of 5 cents a share, including stock-based compensation costs, on revenue of $50.8 million. FoxHollow shares were down $4.55 to $26.65.
rose 5% after the pharmacy benefit manager posted better-than-expected first-quarter results. The company earned $44.8 million, or 15 cents a share, up from $131.2 million, or 47 cents a share, a year earlier. Excluding items, Medco earned 56 cents a share, a penny better than analysts' mean estimate. Revenue jumped to $10.56 billion from $8.74 billion, topping analysts' forecast of $10.26 billion.
For 2006, Medco continues to expect earnings, excluding items, of $2.57 to $2.64 a share. Analysts project earnings of $2.58 a share. Shares were trading up $2.37 to $53.14.
rose 4% after the health care services company in-line fourth-quarter earnings on better-than-expected revenue. The company earned $220 million, or 70 cents a share, on revenue of $23.06 billion. Excluding a litigation gain of $5 million, the company earned $215 million, or 68 cents a share. Analysts expected earnings of 68 cents a share on revenue of $22.35 billion. During the year-earlier period, the company earned $259 million, or 85 cents a share, on revenue of $20.51 billion.
Looking ahead, McKesson sees fiscal 2007 earnings of $2.55 to $2.70 a share. Analysts project earnings of $2.58 a share. Shares were trading up $1.66 to $48.92.
rose 4% after the managed care company posted better-than-expected first-quarter results. The company earned $8.6 million, or 31 cents a share, up from $14.8 million, or 53 cents a share, a year earlier. Molina posted operating revenue of $453.4 million, which included $4.1 million in investment income. A year earlier, operating revenue was $394 million, including investment income of $1.8 million. Analysts expected earnings of 26 cents a share and revenue of $440.7 million for the latest quarter. Shares were up $1.26 to $34.76.
rose 8% after the company said its Evamist product performed well in a Phase III clinical trial. Evamist, a spray used to treat menopausal symptoms, showed a statistically significant reduction in the number and severity of hot flashes. Indeed, the company said that the most effective dose reduced hot flashes by 78% -- from 10.7 hot flashes before treatment to 2.3 hot flashes after treatment. "We believe these positive trial results along with our novel patient-preferred transdermal delivery system will establish Evamist as a superior estrogen therapy for the treatment of menopausal symptoms," the company said. The company plans to file a new drug application for Evamist during the second half of 2006. Shares were trading up 25 cents to $3.40.
Other health care volume movers included
, up 28 cents to $25.50;
, down 50 cents to $46.03;
, up 14 cents to $22;
Bausch & Lomb
, up $1.40 to $42.59;
, up 94 cents to $37.87;
, up $1.02 to $69.78;
, up 2 cents to $66.97;
, down 18 cents to $48.36; and
Johnson & Johnson
, up 42 cents to $58.68.