Results tagged “EPIX” from MarketMinute.com Market Updates

The markets opened higher as retailers lured shoppers with bargain prices.  The Dow gained 41 points to 8510 while Nasdaq added 4 points to 1529.

 

On the upside

Jones Apparel Group (NYSE: JNY) consolidated and reduced its $1.25 billion lines of credit into a single $600 million line of credit with more flexibility.

The Federal Reserve approved GMAC's application to become a bank, which now allows the auto finance company to apply for government loans. General Motors (NYSE: GM) stock surged.

Intertgral Systems (Nasdaq: ISYS) reported higher fourth quarter earnings and revenue.

On the downside

Capstone Turbine (Nasdaq: CPST) filed a $150 million shelf registration with the Securities and Exchange Commission.

Investors locked in profits for EPIX (Nasdaq: EPIX), which won FDA approval for its imaging agent Vasovist on Wednesday.

The first decline in holiday sales in forty years weighed down shares of Dillards (NYSE: DDS).

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq.  The Russell 2000 which tracks small cap stocks added a point to 472.

Retreating crude oil prices and better than expected consumer sentiment lifted the markets to a higher open with the Dow climbing 58 points to 8578.  Nasdaq added 12 points to 1544.

On the upside

The Food and Drug Administration approved Epix Pharmaceuticals' (Nasdaq: EPIX) magnetic resonance angiography blood vessel imaging agent Vasovist.

ProLogis (NYSE: PLD) announced plans to sell its Chinese properties and its stake in Japanese property funds to Singapore's GIC Real Estate for approximately $1.3 billion.

Health Systems Solutions closed its $62 million acquisition of medical technology firm Emageon (Nasdaq: EMAG).

On the downside

Washington Federal (Nasdaq: WFSL) blamed higher credit costs for slashing its quarterly dividend.

American Greetings (NYSE: AM) swung to a third quarter loss due to significant charges and lower revenue amidst a slumping economy.

KV Pharmaceutical (NYSE: KV-A) voluntarily suspended shipments of all drugs in tablet form and recalled a production lot of its pain management medication Hydromorphone.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by mroe than 5 to 3 on Nasdaq.  The Russell 2000 which tracks small cap stocks gained 5 points to 480.

Bargain hunters lifted the markets higher during  the midday with the Dow climbing 92 points to 12,191.  Nasdaq gained 11 points to 2221.

On the upside

Capital Corp. of the West (Nasdaq: CCOW) formed a Regulatory Oversight Committee and has retained the services of Keefe, Bruyette & Woods to strengthen its capital position and explore strategic alternatives to improve shareholder value.

Neurogen (Nasdaq: NRGN) narrowed fourth quarter losses.

Although Shoe Carnival (Nasdaq: SCVL) blamed lower sales for a sharp drop in fourth quarter earnings, the results surpassed estimates.

On the downside

After Epix Pharmaceuticals' (Nasdaq: EPIX) depression treatment PRX-00023 failed a midstage clinical trial, the biopharmaceutical halted development of the drug.

Second quarter earnings for Winnebago Industries (Nasdaq: WGO) plunged as sales dropped.  The recreational vehicle maker also announced the elimination of 300 jobs.

Public Service Enterprise Group (Nasdaq: PEG) forecast earnings for 2008 as well as 2009 below analyst estimates.

In the broad market, advancing issues outpaced decliners by a margin of 4 to 3 on the NYSE and by nearly 8 to 5 on Nasdaq.  The Russell 2000 which tracks small cap stocks soared 10 points to 674.

The markets traded lower during the midday as housing construction fell to a 16-year low.  The Dow dropped 51 points to 13,116 while Nasdaq dropped 15 points to 2559.

On the upside

Epix Pharmaceuticals' (Nasdaq: EPIX) Alzheimer's treatment PRX-03140 improved patient memory in a midstage short term drug trial.

Royal Philips Electronics (NYSE: PHG) will acquire Visicu (Nasdaq: EICU) for $430 million in cash.

Canaccord Adams upgraded Quicksilver Resources (NYSE: KWK) after natural gas and oil company unveiled a $885 million spending plan for 2008.

On the downside

J. P. Morgan downgraded Starent Networks (Nasdaq: STAR).

Agrium (NYSE: AGU) closed its offering of common shares.

Avnet (NYSE: AVT) completed its acquisition of the IT Solution Division of Acal.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 739.