Morning Movers 03/30: (SNSS) (BONE) Higher; (FINL) (IOC) (OREX) (XRTX) Lower
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Sunesis Pharmaceuticals (Nasdaq: SNSS) 16.5% HIGHER; Sunesis and Royalty Pharma announced that Royalty Pharma has agreed to pay Sunesis $25 million, under certain circumstances related to the successful development of Sunesis' lead product candidate vosaroxin, to acquire a royalty on future worldwide net sales of vosaroxin.
Finish Line (NASDAQ: FINL) 14.8% LOWER; reported Q4 EPS of $0.81, in-line with the analyst estimate of $0.81. Revenue for the quarter came in at $456.3 million versus the consensus estimate of $432.62 million. Same-store sales rose 10.8%. Sees FY13 EPS, same-store sales up in the mid single-digit range.
InterOil Corporation (NYSE: IOC) 11.6% LOWER; reports that the Triceratops-2 well in Papua New Guinea was drilled from the 9 5/8 casing shoe at 4,111 feet (1,253 meters) to current total depth (TD) of 5,971 feet (1,820 meters). The top marl transition zone was encountered at 3,976 feet (1,212 meters) and the top of the carbonate reservoir at 4,482 feet (1,366 meters). Since penetrating the carbonate reservoir to the current TD, background gas and persistent mud losses of between 5 to 40 barrels per hour have been encountered. Delivery of drill stem testing ("DST") equipment has been delayed and InterOil has elected to continue drilling towards an expected total targeted depth of 7,546 feet (2,300 meters) to expedite logging the well. The Company plans to conduct a DST once the wireline logging program has been completed. Click here to see the full report.
Orexigen (Nasdaq: OREX) 11.2% LOWER; investors are taking some profits today following a recent run up into this week's FDA advisory committee meeting of the cardiovascular risks associated with obesity drugs. The panel determined these risks needed to be studied more. Investors in Orexigen may be viewing the company's diet pill less favorably as it appears VIVUS (Nasdaq: VIVUS) and/or Arena's (Nasdaq: ARNA) products may get to the market before Orexigen's drug.
Xyratex, Ltd. (NASDAQ: XRTX) 10.9% LOWER; reported Q1 EPS of $0.40, $0.14 better than the analyst estimate of $0.26. Revenue for the quarter came in at $295.7 million versus the consensus estimate of $316.5 million. Xyratex, Ltd. sees Q2 2012 EPS of $0.08-$0.35, versus the consensus of $0.35. Boosts quarterly dividend from 6.5 cents to 7.5 cents. Raised its quarterly dividend from $0.065 to $0.075.
Bacterin International (NYSE: BONE) 10.4% HIGHER; Maxim Group initiates coverage on the stock with a Buy. PT $7.00.
Finish Line (NASDAQ: FINL) 14.8% LOWER; reported Q4 EPS of $0.81, in-line with the analyst estimate of $0.81. Revenue for the quarter came in at $456.3 million versus the consensus estimate of $432.62 million. Same-store sales rose 10.8%. Sees FY13 EPS, same-store sales up in the mid single-digit range.
InterOil Corporation (NYSE: IOC) 11.6% LOWER; reports that the Triceratops-2 well in Papua New Guinea was drilled from the 9 5/8 casing shoe at 4,111 feet (1,253 meters) to current total depth (TD) of 5,971 feet (1,820 meters). The top marl transition zone was encountered at 3,976 feet (1,212 meters) and the top of the carbonate reservoir at 4,482 feet (1,366 meters). Since penetrating the carbonate reservoir to the current TD, background gas and persistent mud losses of between 5 to 40 barrels per hour have been encountered. Delivery of drill stem testing ("DST") equipment has been delayed and InterOil has elected to continue drilling towards an expected total targeted depth of 7,546 feet (2,300 meters) to expedite logging the well. The Company plans to conduct a DST once the wireline logging program has been completed. Click here to see the full report.
Orexigen (Nasdaq: OREX) 11.2% LOWER; investors are taking some profits today following a recent run up into this week's FDA advisory committee meeting of the cardiovascular risks associated with obesity drugs. The panel determined these risks needed to be studied more. Investors in Orexigen may be viewing the company's diet pill less favorably as it appears VIVUS (Nasdaq: VIVUS) and/or Arena's (Nasdaq: ARNA) products may get to the market before Orexigen's drug.
Xyratex, Ltd. (NASDAQ: XRTX) 10.9% LOWER; reported Q1 EPS of $0.40, $0.14 better than the analyst estimate of $0.26. Revenue for the quarter came in at $295.7 million versus the consensus estimate of $316.5 million. Xyratex, Ltd. sees Q2 2012 EPS of $0.08-$0.35, versus the consensus of $0.35. Boosts quarterly dividend from 6.5 cents to 7.5 cents. Raised its quarterly dividend from $0.065 to $0.075.
Bacterin International (NYSE: BONE) 10.4% HIGHER; Maxim Group initiates coverage on the stock with a Buy. PT $7.00.
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