Shares of A.D.A.M. ( ADAM) were among the worst-performing health-related stocks Tuesday, sliding 25% after the medical information company posted fourth-quarter results that disappointed investors. The company reported a loss of $505,000, or 5 cents a share, on revenue of $2.5 million. Excluding items, the company earned $436,000, or 5 cents a share. During the year-earlier period, the company earned $676,000, or 7 cents a share, on revenue of $2.5 million. The company's latest results were hurt by a big rise in general and administrative expenses, which climbed to $1.3 million from $345,000 during the year-earlier period. Total operating costs and expenses rose to nearly $3 million during the fourth quarter, up from $1.8 million a year earlier. Shares were trading down $2.63 to $7.79. Air Methods ( AIRM) shares rose 7% after the company swung to a fourth-quarter profit. The company, which provides air medical transportation services, earned $3.5 million, or 29 cents a share, reversing a year-earlier loss of $200,000, or 2 cents a share. The single-analyst forecast called for earnings of 20 cents a share. Revenue rose to $90.2 million from $68.3 million. Shares were rising $1.59 to $25.42. Shares of inVentiv Health ( VTIV), formerly called Ventiv Health, rose 6% after the provider of clinical services posted better-than-expected fourth-quarter results. The company reported earnings from continuing operations of $9.8 million, or 34 cents a share, on revenue of $175.3 million. Analysts expected earnings of 28 cents a share and revenue of $148.2 million. During the year-earlier quarter, the company earned $15.2 million, or 57 cents a share, on revenue of $117.4 million. Results during the year-earlier period included a tax benefit of $9.1 million, or 34 cents a share. Without the gain, the company would have earned $6.1 million, or 23 cents a share. Looking ahead, inVentiv now sees 2006 earnings of $1.43 to $1.48 a share and revenue of $705 million to $725 million. Previously, the company projected earnings of $1.39 to $1.44 a share, with revenue of $685 million to $705 million. Analysts forecast earnings of $1.44 a share and revenue of $707.1 million. Shares were trading up $1.69 to $30.82.
Aetna ( AET) rose 1% after the health insurance company backed its first-quarter and full-year earnings guidance. The company continues to see first-quarter operating earnings of 62 cents a share and full-year earnings of $2.71 to $2.74 a share. The projections include stock-based compensation costs and reflect a 2-for-1 stock split on Feb. 17. Analysts anticipate first-quarter earnings of 63 cents a share and full-year earnings of $2.75 a share. Shares were up 51 cents to $51.06. Shares of Corautus Genetics ( VEGF) dropped 14% after the biopharmaceutical company temporarily halted a phase IIb trial of its chest-pain treatment. Corautus stopped the study because Boston Scientific ( BSX) reported three serious adverse events of pericardial effusion. Corautus uses Boston Scientific's Stiletto catheter system to deliver its VEGF-2 biologic for the treatment of severe angina. The pericardial events, Corautus said, do not appear to be related to its investigational biologic. "While our clinical trial has been through its third and final scheduled safety review by our independent data monitoring committee and we are nearing completion of enrollment, safety issues always take precedence," Corautus said. "Boston Scientific has requested a short period to review these latest SAEs, and we have accommodated their request." As a result of the temporary suspension of the catheter system, Corautus terminated its previously announced stock offering, which was expected to close Wednesday. The company had agreed to sell 7.5 million shares of stock for $3.85 each, resulting in net proceeds of about $26.5 million. Shares were trading down 57 cents to $3.45. Other health care volume movers included Pfizer ( PFE), down 11 cents to $25.86; Novavax ( NVAX), up 63 cents to $6.77; Elan ( ELN), up 29 cents to $14.90; Johnson & Johnson ( JNJ), up 21 cents to $59.29; Boston Scientific, up 21 cents to $22.97; Amgen ( AMGN), up $1.27 to $74.86; Generex Biotech ( GNBT), up 14 cents to $2.32; Schering-Plough ( SGP), down 6 cents to $18.41; Merck ( MRK), down 20 cents to $35; and Bristol-Myers Squibb ( BMY), down 17 cents to $22.77.