Countrywide's ( CFC) massive surge spurred the financial sector higher following a considerably volatile day.Shares of the struggling mortgage lender rocketed more than 50% after The Wall Street Journal reported that the battered mortgage lender is
Meanwhile, shares of BankAtlantic ( BBX) leapt up 14.2% to $3.85 after Fox Pitt upgraded the Fort Lauderdale, Fla.-based bank holding company to outperform from in line. Eddie Bauer ( EBHI) shares ventured up 35.5% to $6.19 on news of improved fourth-quarter sales. The Redmond, Wash.-based clothing retailer posted a 4.8% increase in total year-over-year same-store sales, or sales from stores open at least a year. Eddie Bauer also announced total preliminary net merchandise sales of $378 million, up from $365 million in 2006. The FDA warned Noven Pharmaceuticals ( NOVN) about the company's Daytrana transdermal system. In July the FDA wrapped up an inspection of the company's Miami facility regarding problems patients had peeling off the backing material from the company's patch for Attention Deficit Hyperactivity Disorder (ADHD). The letter asks for additional information and analysis regarding product deficiencies, but doesn't affect production or shipment of the product. Noven said the agency did state in the letter that failure to promptly address the concerns could result in further regulatory action. Shares were down 54 cents, or 3.7%, at $13.28. Away from regulatory action, Teva Pharmaceuticals ( TEVA) was on the down-tick after the company announced its North American chief executive, George S. Barrett, is leaving to become vice chairman and CEO of health care supply chain service company Cardinal Health ( CAH). Teva's USA President and CEO William S. Marth will take Barrett's position. Teva, which is also weathering the pending retirement of it's CFO, gave up $2.16, or 4.3%, to 47.50 on Thursday, while Cardinal benefitted 1.79, or 3%, to $60.35, from the addition of the executive.