Adolor Corporation (Nasdaq: ADLR) 57.8% LOWER; The company and GlaxoSmithKline (NYSE: GSK) announced negative preliminary results from Phase 3 Safety study of Alvimopan. Current development program for OBD on-hold while findings from long-term safety study are evaluated. Serious adverse events reported.
Synergetics USA (Nasdaq: SURG) 18.5% HIGHER; Announced that the Company has reached a settlement of all outstanding claims in the patent litigation suits with Iridex Corporation (Nasdaq: IRIX). The parties have entered into a Settlement Agreement and a Manufacture and Supply Agreement to resolve both lawsuits and all claims between the parties.
Memory Pharmaceuticals (Nasdaq: MEMY) 17% HIGHER; Continued momentum in small-cap biotechs.
Medwave Inc. (Nasdaq: MDWV) 16.7% HIGHER; Company has decided to begin a process to explore strategic alternatives to enhance shareholder value, including but not limited to the raising of capital through the sale of securities or assets of the Company, a recapitalization, strategic acquisitions, and the combination, sale or merger of the Company with another entity. (NOTE – Stock trades under $1)
Harris Interactive (Nasdaq: HPOL) 15.8% LOWER; Revised its Q3FY07 sales bookings expectations and lowered its outlook for 2HFY07. The company said sales bookings for the quarter are expected to be around $58 million, versus the approximately $66 million in sales bookings the Company discussed during its Q2FY07 results conference call held on February 2, 2007. Q3 revenue growth will be lower than expected.
United Rentals (NYSE: URI) 14.6% HIGHER; Announced that its board of directors has authorized commencement of a process to explore a broad range of strategic alternatives to maximize shareholder value, including a possible sale of the company. The company has retained UBS Investment Bank and Credit Suisse to act as financial advisors in this process. The company also announced that Wayland R. Hicks, 64, will retire as chief executive officer effective at the annual shareholders’ meeting on June 4, 2007
Renovis Inc. (Nasdaq: RNVS) 13% HIGHER; Pfizer (NYSE: PFE) and Renovis Extend Research Collaboration to Identify Small Molecule VR1 Antagonists
99 Cents Only Stores (NYSE: NDN) 9% HIGHER; Reports total sales of $277.9 million for the fourth quarter of its fiscal year ended March 31, 2007. This represents an increase of 9.4% over total sales of $254.1 million for the same quarter last year. (Q4 revenue consensus is $275.6 million). The Company’s same-store-sales for the fourth quarter ended March 31, 2007 increased 2.9% versus the same quarter last year.
Cascade (NYSE: CAE) 8.8% HIGHER; Reports Q4 EPS of $0.80, 5 cents better than estimates.(0.75) Revenues were $118.9 million vs. $116.68 million consensus.
Seagate Technology (NYSE: STX) 8.6% LOWER; Revenue for the fiscal third quarter is now expected to be approximately $2.8 billion, compared to prior guidance of $2.9-3.0 billion, and GAAP and non-GAAP gross margins did not achieve the company’s expectations. (Consensus is $2.94 billion)
Sturm, Ruger & Co. Inc. (NYSE: RGR) 7.5% LOWER; CL King downgrades RGR from Strong Buy to Neutral.
Adolor Corporation (Nasdaq: ADLR) 57.8% LOWER; The company and GlaxoSmithKline (NYSE: GSK) announced negative preliminary results from Phase 3 Safety study of Alvimopan. Current development program for OBD on-hold while findings from long-term safety study are evaluated. Serious adverse events reported.
Synergetics USA (Nasdaq: SURG) 18.5% HIGHER; Announced that the Company has reached a settlement of all outstanding claims in the patent litigation suits with Iridex Corporation (Nasdaq: IRIX). The parties have entered into a Settlement Agreement and a Manufacture and Supply Agreement to resolve both lawsuits and all claims between the parties.
Memory Pharmaceuticals (Nasdaq: MEMY) 17% HIGHER; Continued momentum in small-cap biotechs.
Medwave Inc. (Nasdaq: MDWV) 16.7% HIGHER; Company has decided to begin a process to explore strategic alternatives to enhance shareholder value, including but not limited to the raising of capital through the sale of securities or assets of the Company, a recapitalization, strategic acquisitions, and the combination, sale or merger of the Company with another entity. (NOTE – Stock trades under $1)
Harris Interactive (Nasdaq: HPOL) 15.8% LOWER; Revised its Q3FY07 sales bookings expectations and lowered its outlook for 2HFY07. The company said sales bookings for the quarter are expected to be around $58 million, versus the approximately $66 million in sales bookings the Company discussed during its Q2FY07 results conference call held on February 2, 2007. Q3 revenue growth will be lower than expected.
United Rentals (NYSE: URI) 14.6% HIGHER; Announced that its board of directors has authorized commencement of a process to explore a broad range of strategic alternatives to maximize shareholder value, including a possible sale of the company. The company has retained UBS Investment Bank and Credit Suisse to act as financial advisors in this process. The company also announced that Wayland R. Hicks, 64, will retire as chief executive officer effective at the annual shareholders’ meeting on June 4, 2007
Renovis Inc. (Nasdaq: RNVS) 13% HIGHER; Pfizer (NYSE: PFE) and Renovis Extend Research Collaboration to Identify Small Molecule VR1 Antagonists
99 Cents Only Stores (NYSE: NDN) 9% HIGHER; Reports total sales of $277.9 million for the fourth quarter of its fiscal year ended March 31, 2007. This represents an increase of 9.4% over total sales of $254.1 million for the same quarter last year. (Q4 revenue consensus is $275.6 million). The Company’s same-store-sales for the fourth quarter ended March 31, 2007 increased 2.9% versus the same quarter last year.
Cascade (NYSE: CAE) 8.8% HIGHER; Reports Q4 EPS of $0.80, 5 cents better than estimates.(0.75) Revenues were $118.9 million vs. $116.68 million consensus.
Seagate Technology (NYSE: STX) 8.6% LOWER; Revenue for the fiscal third quarter is now expected to be approximately $2.8 billion, compared to prior guidance of $2.9-3.0 billion, and GAAP and non-GAAP gross margins did not achieve the company’s expectations. (Consensus is $2.94 billion)
Sturm, Ruger & Co. Inc. (NYSE: RGR) 7.5% LOWER; CL King downgrades RGR from Strong Buy to Neutral.
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