Notable 52-Week Highs and Lows of the Day 08/02: (GILD) (GPS) (OCN) High; (KCG) (F) (MTG) Low
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This report is an intraday check of some of the more notable stocks that have hit a 52-week high or low so far today.
- Gilead Sciences Inc. (Nasdaq: GILD) high of $58.84. Gilead Sciences higher Thursday following reports that Bristol-Myers Squibb (NYSE: BMY) suspended an ongoing Phase II study of BMS-986094, a nucleotide polymerase (NS5B) inhibitor in development for the treatment of hepatitis C, on the emergence of a "serious safety issue" which appears to be a heart attack that occurred in a patient on a 200-mg daily dose.
- Gap Inc. (NYSE: GPS) high of $33.08. Gap issued strong July and second-quarter sales results today, allowing the retailer to boost its outlook. Gap now sees Q2 EPS at 47 cents to 48 cents, compared with consensus views calling for 38 cents.
- Ocwen Financial Corp. (NYSE: OCN) high of $21.92. Ocwen posted Q2 EPS of 32 cents and revs of $211.4 million, compare with estimates calling for EPS of 32 cents and revs of just $187.7 million.
- MedAssets (Nasdaq: MDAS) high of $16.00. MedAssets beat Q2 EPS expectations by six cents while revs also came in heavy. For FY12, the company sees EPS of $1.05 - $1.13 and revs of $620 million to $630 million, stronger than views calling for EPS of $1.06 and sales of $608 million.
- Knight Capital Group, Inc. (NYSE: KCG) low of $2.27. To err is human, but to really mess up? You need a new investment broker.
Traders are taking the hint, sending Knight to record lows as more and more firms stop routing trades to Knight. The institution said the trading errors from Wednesday might have a negative pretax impact to the tune of $400 million, one of the largest trading losses on record.
- Ford Motor Co. (NYSE: F) low of $8.82. Ford seeing some pressure Thursday from peer General Motors (NYSE: GM), which posted mixed Q2 results earlier. The dip comes following Wednesday's U.S. auto sales results for July, which saw Ford's sales down 4 percent for the month.
- MGIC Investment (NYSE: MTG) low of $0.91. MGIC reported a much wider than expected Q2 loss of $1.36 per share. The Street was looking for a more modest loss of 56 cents per share. MGIC dropped nearly 63 percent on the session to the new low.
- Halozyme Therapeutics, Inc. (Nasdaq: HALO) low of $3.86. Halozyme said that Baxter (NYSE: BAX) received a complete response letter (CRL) from the FDA's CBER for its HyQ Biologics License Application (BLA).
The FDA needs more preclinical data to support the BLA. HyQ is an investigational product that includes plasma-derived Immune Globulin (IG) 10% and Halozyme's recombinant human hyaluronidase (rHuPH20) for subcutaneous administration in patients with primary immunodeficiency disease.
Halozyme shares fell over 54 percent to the new low Thursday.
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