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Morning Movers 04/02: (WG) (THRX) (AVP) (DANG) Higher; (KERX) (AEZS) (AVII) (OPHC) Lower

April 2, 2012 11:31 AM EDT Send to a Friend
Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) 66% LOWER; reported today that the Phase 3 "X-PECT" (Xeloda + Perifosine Evaluation in Colorectal cancer Treatment) clinical trial evaluating perifosine (KRX-0401) + capecitabine (Xeloda) in patients with refractory advanced colorectal cancer did not meet the primary endpoint of improving overall survival versus capecitabine + placebo.

AEterna Zentaris (Nasdaq: AEZS) 65.3% LOWER; KRX-0401 (perifosine) is in-licensed by Keryx from AeternaZentaris Inc. in the United States, Canada and Mexico.

AVI BioPharma, Inc. (NASDAQ: AVII) 24.6% LOWER; announced that treatment with eteplirsen met the primary efficacy endpoint in a randomized, double-blind, placebo-controlled Phase IIb study in boys with Duchenne muscular dystrophy (DMD). Eteplirsen administered once weekly at 30mg/kg over 24 weeks resulted in a statistically significant (p d 0.002) increase in novel dystrophin (22.5% dystrophin-positive fibers as a percentage of normal) compared to no increase in the placebo group.

Willbros Group, Inc. (NYSE: WG) 24.3% HIGHER; settles litigation related to West Africa Gas Pipeline Co, sees operating loss of $46 million during Q4. Sees Q4 sales $404.9 million, vs. the Street estimate of $388.5 million. Sees FY12 sales of $1.7-$1.9 billion, vs. the analyst estimate of $1.79 billion. Click here to see the full report.

OptimumBank Holdings (Nasdaq: OPHC) 21.9% LOWER; shares opened about 8 percent lower and then dipped below $3.

Theravance, Inc. (Nasdaq: THRX) 16.5% HIGHER; GlaxoSmithKline plc (NYSE: GSK) and Theravance have entered into a stock purchase agreement, under which Theravance will issue, and GSK will acquire, 10,000,000 shares of Theravance common stock at a price of $21.2887 per share, for a total investment of $212,887,000.

Avon Products (NYSE: AVP) 14.6% HIGHER; Coty announced a $23.25 per share cash bid for the company.

Sino Clean Energy, Inc. (NASDAQ: SCEI) 12.3% LOWER; reported Q4 EPS of $0.15. Revenue for the quarter came in at $28 million. Sees FY2012 EPS of $1.35-$1.54. Sino Clean Energy, Inc. sees FY2012 revenue of $150-$168 million.

Groupon, Inc. (NASDAQ: GRPN) 11.6% LOWER; revised results for Q4 and FY11 which reduced sales by$14.3 million. The revisions also resulted in an increase to fourth quarter operating expenses that reduced operating income by $30.0 million, net income by $22.6 million, and earnings per share by $0.04. Financial results for prior periods, including as of and for the nine months ended September 30, 2011, were not affected by the revisions. Q1 results were reaffirmed.

YPF (NYSE: YPF) 11.6% LOWER; reports Saturday suggested the Argentine government will take over the company. BofA downgraded the stock from Buy to Neutral this morning.

E Commerce China Dangdang (NYSE: DANG) 11% HIGHER; continuing to push away from its 200-day SMA which was held late Friday. Shares closed just over resistance at $8 last week and the stock has now pushed over the $9 technical level. Shares have already tested this level several times today.

Towerstream (Nasdaq: TWER) 10.3% HIGHER; reports that it has signed a Wi-Fi agreement with a national wireless carrier utilizing its current and future rooftop assets.

Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS) 10.1% HIGHER; announced today the successful launch by NASA of an Oriole rocket system produced by its Rocket Support Services (RSS) business unit located in Glen Burnie, Maryland.




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