NEW YORK ( TheStreet) -- MannKind ( MNKD) copped to even more delays with the development of its inhaled insulin delivery device. On its quarterly conference call Monday, MannKind said the design of two clinical studies of the Afrezza diabetes device were still being finalized, and as such, neither study would likely be completed until the end of 2012, based on current estimates. MannKind shares were tumbling 15.9% to $3.70 in premarket trading Tuesday.
Drug company American Oriental Bioengineering ( AOB) was tumbling 5.4% to $1.40 after reporting first-quarter earnings of a penny a share Monday evening. The Wall Street consensus called for earnings of 4 cents a share. The company on Tuesday said it has received regulatory approval to sell its Zhibai Dihuang Pill and Ciwujia Tablet as traditional Chinese medicines in Hong Kong.
Shares of video game maker Activision Blizzard ( ATVI) were rising 2.4% to $11.81 in premarket trading after posting first-quarter profit of 13 cents a share, beating the average analyst estimate of 8 cents a share. Software giant Microsoft ( MSFT) reached a deal to acquire Internet telephone service Skype . Shares of Microsoft were falling 0.9% to $25.60 in premarket trading Tuesday.
Rare earth oxide producer Molycorp ( MCP) is expected to report first-quarter profit of 10 cents a share after the markets close Tuesday. The stock was trading up 0.6% to $72.05 in premarket trading.
Internet search behemoth Google ( GOOG) is preparing to launch a new online music service as early as Tuesday, The Wall Street Journal reported, citing people familiar with the matter. Shares of Google were rising 0.2% to $538.99.
The rating outlook for pharmacy healthcare provider CVS Caremark's ( CVS) has been raised to stable by Standard & Poor's.
Shares of Dow component Walt Disney ( DIS) have gained nearly 15% so far in 2011, so Wall Street's expectations are high for the company's fiscal second-quarter results due after Tuesday's closing bell.
Health care services provider Community Health Systems ( CYH) has withdrawn its plan to buy Tenet Healthcare ( THC). >>Search for Highest Dividends by Rate or Yield
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