Australian Rate Hike Sparks Investor Optimism
On the upside
NutriSystem (Nasdaq: NTRI) announced that its 14-Day introductory weight loss program will be available at Wal-Mart (NYSE: WMT) stores nationwide.
Despite disappointing results from one late stage clinical trial, Acadia Pharmaceuticals (Nasdaq: ACAD) and Biovail will continue development of its Parkinson's disease drug pimavanserin.
Yamana Gold (NYSE: AUY) announced that estimated production for the third quarter has risen over the first and second quarters of the year.
On the downside
MannKind (Nasdaq: MNKD) blamed regulatory delays for announcing that it inhalable insulin product Afresca will not be available at the end of the year.
Jefferies & Co. analyst George Notter downgraded Arris Group (Nasdaq: ARRS) saying that revenue and profit will be hurt by major client Comcast's transition to a new technology.
Verenium (Nasdaq: VRNMD) priced its offering of 2.25 million shares of common stock at $6 per share.
In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 8 points to 600.
