GPS-based navigation devices maker
added $3.80, or 6.6%, to $61.09, after an independent market analyst firm Canalys said Garmin is
in the portable satellite navigation sales market.
Although Garmin reported sales of $3.18 billion in 2007, a 79% increase from 2006, the stock has been depressed in the last few weeks on investor concerns of shrinking gross margins as a result of growing competition.
jumped up $1.81, or 7%, to $27.66 after the company
its revenue guidance for the first quarter and year and said it expects to double operating cash flow over the next three years.
The company also said that
bid for it undervalues the company and it is evaluating other alternatives.
On the losing side,
shares went into free fall, losing 72% to $1.22. The company announced it would delay filing its Form 10-K, an annual summary of its financial performance for the year, with the
Securities and Exchange Commission
. In a press release, the company cited its pursuit of a solution to a "risk of financial covenant default" and uncertainty about its financial impairment as cause for the delay.
plummeted more than 50% after the Food and Drug Administrative put a clinical hold on a late-stage trial for its Hepatitis B vaccine Heplisav.
Dynavax and co-developer
said that one patient in a study outside of the U.S. was diagnosed with an uncommon disease causing blood vessel inflammation. All patients in that study have completed dosing with the vaccine.
Injections of the vaccine were halted in the only study they were actively being given in, a 2,500-patient phase II study in Canada, and no new trials will be initiated until the clinical hold is resolved.
Dynavax shares tumbled $2.87, or 55%, to $2.35. Merck edged up 65 cents, or 1.6%, to $42.50.
, tumbled 28% after the company announced lower-than-expected first-quarter earnings and scaled back revenue projections for 2008.
The company earned $1 million, or 7 cents, a share for the period, missing expectations of analysts surveyed by Thomson Financial who were looking for 15 cents a share.
Somanetics, citing uncertainty in forecasting sales of its INVOS system patient monitoring hardware, now expects 2008 revenue in the range of $46.2 million to $50 million, compared with its previously announced guidance of $50 million. Shares dropped $5 to $12.96.
Rising on earnings, apparel maker
added 22% to $20.86. The Miami company reported fourth-quarter income of $9.9 million, or 65 cents a share, vs. $10.7 million, or 68 cents a share, a year ago. Two analysts had forecast EPS of 63 cents.
For 2009, the company forecast full-year revenue growth between 5% and 7% to a range of $910 million to $925 million and full-year EPS of $1.95 to $2 a share. The Street is looking for $1.86 a share.
This article was written by a staff member of TheStreet.com.