Largest $ Movers of Note - StreetInsider.com - 03/26/2007
Tweet
Share
E-mail
UPWARD MOVERS:
Biosite Incorporated (Nasdaq: BSTE) +$28.30; Beckman Coulter, Inc. (NYSE: BEC) and Biosite entered into a definitive merger agreement under which Beckman Coulter will acquire all of Biosite's outstanding common stock in a cash tender offer of $85.00 per share, or approximately $1.55 billion on a fully diluted share basis.
Alexza Pharmaceuticals (Nasdaq: ALXA) +$5.30; Announced positive initial results from its Phase IIa clinical trial of AZ-004 in schizophrenic patients with acute agitation. The 10 mg dose of AZ-004 met the primary endpoint of the clinical trial, which was a statistically-significant reduction in the measure of agitation from baseline to the 2-hour post-dose time point, compared to placebo. Alexza also announced today positive top-line results from its Phase IIb clinical trial of AZ-001 in patients with migraine headache, where AZ-001 met the primary endpoint of the Phase IIb clinical trial.
Osiris Therapeutics (Nasdaq: OSIR) +$2.60; Announces positive six-month results in a groundbreaking clinical trial evaluating PROVACEL, an adult mesenchymal stem cell (MSC) therapy for the treatment of heart disease.
Abbott (NYSE: ABT) $2.57; Announced positive results from ABSORB, the world's first clinical trial evaluating the overall safety and performance of a fully bioabsorbable drug- eluting stent platform for the treatment of coronary artery disease. Six- month results from the first 30 patients in the trial, presented at the 56th Annual American College of Cardiology Scientific Session in New Orleans, demonstrated no stent thrombosis and a low (3.3 percent) hierarchical rate of ischemia-driven Major Adverse Cardiac Events (MACE), such as heart attack or repeat intervention.
Goodyear Tire & Rubber Co. (NYSE: GT) $1.70; Announced that it has agreed to sell substantially all of its Engineered Products business to EPD, Inc., an entity sponsored by Carlyle Partners IV, L.P., for $1.475 billion.
DOWNWARD MOVERS:
Synchronoss Technologies (Nasdaq: SNCR) -$2.70; ThinkEquity downgrades Synchronoss from Buy to Accumulate with a $20 price target.
Bankrate Inc. (Nasdaq: RATE) -$2.56; Stock fell after a 3.9% decline in new homes sales data was reported today.
Monro Muffler Brake (Nasdaq: MNRO) -$2.44; Anticipates fiscal 2007 sales of approximately $415 million and diluted earnings per share to be in the range of $1.54 to $1.56. This estimate compares with the Company's previous expectations of $1.66 to $1.69 per diluted share as stated in its third quarter earnings release, and earnings per diluted share in fiscal 2006 of $1.51. (Consensus is $415.19 million and EPS consensus is $1.67). Based on current visibility and business trends, the Company anticipates fiscal 2008 diluted earnings per share will be in the range of $1.85 to $1.95. (Consensus is $1.98)
CV Therapeutics (Nasdaq: CVTX) -$1.89; Deutsche Bank downgrades CVTX from Hold to Sell with a $2 price target, ahead of full Ranexa Merlin PIII data to be presented at the American College of Cardiology (ACC) on Tuesday. The firm said, "We now believe Ranexa ACC data will fall short of generating sufficient positive data trends for supporting Ranexa's outlook even as an approved niche chronic angina agent."
Beckman Coulter (NYSE: BEC) -$4.11; BEC and Biosite entered into a definitive merger agreement under which Beckman Coulter will acquire all of Biosite's outstanding common stock in a cash tender offer of $85.00 per share, or approximately $1.55 billion on a fully diluted share basis.
Biosite Incorporated (Nasdaq: BSTE) +$28.30; Beckman Coulter, Inc. (NYSE: BEC) and Biosite entered into a definitive merger agreement under which Beckman Coulter will acquire all of Biosite's outstanding common stock in a cash tender offer of $85.00 per share, or approximately $1.55 billion on a fully diluted share basis.
Alexza Pharmaceuticals (Nasdaq: ALXA) +$5.30; Announced positive initial results from its Phase IIa clinical trial of AZ-004 in schizophrenic patients with acute agitation. The 10 mg dose of AZ-004 met the primary endpoint of the clinical trial, which was a statistically-significant reduction in the measure of agitation from baseline to the 2-hour post-dose time point, compared to placebo. Alexza also announced today positive top-line results from its Phase IIb clinical trial of AZ-001 in patients with migraine headache, where AZ-001 met the primary endpoint of the Phase IIb clinical trial.
Osiris Therapeutics (Nasdaq: OSIR) +$2.60; Announces positive six-month results in a groundbreaking clinical trial evaluating PROVACEL, an adult mesenchymal stem cell (MSC) therapy for the treatment of heart disease.
Abbott (NYSE: ABT) $2.57; Announced positive results from ABSORB, the world's first clinical trial evaluating the overall safety and performance of a fully bioabsorbable drug- eluting stent platform for the treatment of coronary artery disease. Six- month results from the first 30 patients in the trial, presented at the 56th Annual American College of Cardiology Scientific Session in New Orleans, demonstrated no stent thrombosis and a low (3.3 percent) hierarchical rate of ischemia-driven Major Adverse Cardiac Events (MACE), such as heart attack or repeat intervention.
Goodyear Tire & Rubber Co. (NYSE: GT) $1.70; Announced that it has agreed to sell substantially all of its Engineered Products business to EPD, Inc., an entity sponsored by Carlyle Partners IV, L.P., for $1.475 billion.
DOWNWARD MOVERS:
Synchronoss Technologies (Nasdaq: SNCR) -$2.70; ThinkEquity downgrades Synchronoss from Buy to Accumulate with a $20 price target.
Bankrate Inc. (Nasdaq: RATE) -$2.56; Stock fell after a 3.9% decline in new homes sales data was reported today.
Monro Muffler Brake (Nasdaq: MNRO) -$2.44; Anticipates fiscal 2007 sales of approximately $415 million and diluted earnings per share to be in the range of $1.54 to $1.56. This estimate compares with the Company's previous expectations of $1.66 to $1.69 per diluted share as stated in its third quarter earnings release, and earnings per diluted share in fiscal 2006 of $1.51. (Consensus is $415.19 million and EPS consensus is $1.67). Based on current visibility and business trends, the Company anticipates fiscal 2008 diluted earnings per share will be in the range of $1.85 to $1.95. (Consensus is $1.98)
CV Therapeutics (Nasdaq: CVTX) -$1.89; Deutsche Bank downgrades CVTX from Hold to Sell with a $2 price target, ahead of full Ranexa Merlin PIII data to be presented at the American College of Cardiology (ACC) on Tuesday. The firm said, "We now believe Ranexa ACC data will fall short of generating sufficient positive data trends for supporting Ranexa's outlook even as an approved niche chronic angina agent."
Beckman Coulter (NYSE: BEC) -$4.11; BEC and Biosite entered into a definitive merger agreement under which Beckman Coulter will acquire all of Biosite's outstanding common stock in a cash tender offer of $85.00 per share, or approximately $1.55 billion on a fully diluted share basis.
You May Also Be Interested In
- Deutsche Bank calls Treasury buyback doubling similar to ’operation twist’
- Coty stock tumbles as lack of visibility, RBC downgrade overshadow Q4 beat
- FreeCast (CAST) Expands Global Streaming Strategy with 28-Channel Brazilian Television Launch
Create E-mail Alert Related Categories
General News, Special ReportsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
