Infinera Corp. (Nasdaq: INFN) widened fourth quarter losses to 18 cents per share from 3 cents per share a year earlier but the results were better than expected sending the stock price soaring $1.07 to close at $8.38.
Fourth quarter earnings slipped for Power-One Inc. (Nasdaq: PWER) to 21 cents per share from 35 cents per share in the year ago period but the results beat analyst expectations lifting the stock price 76 cents to close at $5.28.
The Food and Drug Administration removed its partial clinical hold on Idenix Pharmaceuticals Inc.'s (Nasdaq: IDIX) hepatitis C treatment IDX184 but investors were concerned that competitors may develop their drugs first. The stock price tumbled $1.51 to close at $11.68.
MannKind (Nasdaq: MNKD) priced its public offering of more than 31 million units at $2.40 per unit. Shares of the biopharmaceutical dropped 32 cents to $2.15.
Threshold Pharmaceuticals Inc. (Nasdaq: THLD) and Merck will jointly develop and commercialize Threshold's cancer treatment TH-302. Shares of Threshold more than doubled by leaping $1.39 to $2.68.
Genworth Financial Inc. (NYSE: GNW) reversed year ago losses of 33 cents per share to post a better than expected profit for the fourth quarter of 22 cents per share. The stock price climbed $1.07 to $9.11.
Patriot Coal Corp. (NYSE: PCX) fell to a fourth quarter loss of 42 cents per share compared with earnings of 8 cents per shares in the year ago period as coal demand weekend. Investors welcomed news that the coal producer will idle its Big Mountain thermal coal complex. The stock price gained 83 cents to close at $8.55.
Cemex (NYSE: CX) reported higher fourth quarter earnings and revenue lifting the stock price 75 cents to close at $7.86.
Gap Inc. (NYSE: GPS) reported a smaller than expected drop of 4% in January same store sales and forecast fourth quarter earnings ahead of estimates. Shares of the retailer soared $2.07 to close at $21.52.
Facebook's regulatory filing revealed that the majority of its revenue came from social gaming company Zynga Inc. (Nasdaq: ZNGA) lifting the stock price $1.50 to $12.10.
