Amarin Corporation plc (NASDAQ: AMRN) 79% LOWER; Announces top-line results from its two Phase III clinical trials of Miraxion to treat Huntington’s disease (HD). The Company conducted two Phase III double-blind, placebo-controlled studies in which HD patients were randomized to receive either placebo or 2 grams (1 gram twice daily) of Miraxion daily for six months. Study data showed no statistically significant difference in either study between Miraxion and placebo with regard to the primary and secondary endpoints. These top-line findings are inconsistent with earlier clinical trial data that showed statistical significance in a subset of HD patients with a CAG repeat length of less than or equal to 44.
Pharmos Corporation (Nasdaq: PARS) 42% HIGHER; Announced results from its Phase 2a clinical trial of the effects of intravenous (i.v.) cannabinor against post-operative pain in over 100 male patients undergoing third molar dental extraction. The lowest dose of cannabinor (12 mg) produced a statistically significant decrease in pain versus placebo, as measured by the primary endpoint, which was a time-weighted measurement of total pain relief, but this drug effect was not seen in the higher dose groups (24mg and 48mg). This is an unexpected pattern of results and the Company continues to explore possible explanations.
II-VI Inc (Nasdaq: IIVI) 23.2% LOWER; Reports Q3 EPS of $0.33, 1 cent better than estimates. Revenues were $67.09 million vs. $68.58 million consensus. Sees Q4 revenues between $67.5-$69.5 million vs. $73.6 million consensus. Sees Q4 EPS between $0.30-0.33 vs. $0.36 consensus. Sees FY EPS between $1.19-1.22 vs. $1.23 consensus.
TRANSCEND SERVICES (Nasdaq: TRCR) 23.2% HIGHER; Revenue for the first quarter of 2007 was $10,422,000, an increase of $2,410,000, or 30%, over first quarter 2006 revenue of $8,012,000. Earnings per share was $0.15 in the first quarter of 2007 compared to $0.02 in the first quarter of 2006.
Symbion (NASDAQ: SMBI) 18% HIGHER; Entered into a merger agreement with a newly formed subsidiary of Crestview Partners, L.P., a New York-based private equity firm. Under the terms of the merger agreement, holders of Symbion common stock will receive $22.35 per share in cash for their shares. This price represents a 17.4% premium to the closing price on April 23, 2007.
Woodward Governor (Nasdaq: WGOV) 17.7% HIGHER; Reports Q2 EPS of $0.63, 12 cents better than estimates. Revenues were $256.3 million vs. $238.33 million consensus. Sees FY EPS between $2.35-2.45 vs. consensus of $2.17.
Snap-on Incorporated (NYSE: SNA) 14.6% HIGHER; Reports Q1 EPS of $0.66, 13 cents better than estimates. Revenues were $709.7 million vs. $686.61 million consensus. Robert Baird upgrades Snap-on (SNA) to Outperform.
Whirlpool Corporation (NYSE: WHR) 12.6% HIGHER; Reports Q1 EPS of $1.55 vs. consensus of $1.12. Revenues were $4.4 billion vs. $4.11 billion consensus. Whirlpool continues to expect full-year 2007 earnings per diluted share from continuing operations to be in the $8.00 to $8.50 range vs. consensus of $7.99. The company will resume its previously authorized $500 million share repurchase program beginning in the second quarter of 2007.
PACCAR Inc (Nasdaq: PCAR) 12.1% HIGHER; Reports Q1 EPS of $1.46, ($1.40 EX-ITEMS) 26 cents better than estimates. Revenues were $3.98 billion vs. $3.37 billion consensus. The PACCAR Board of Directors approved an increase to the regular quarterly dividend from $.20 (twenty cents) per share to $.25 (twenty-five cents) per share, effective with the dividend payment on June 5, 2007, for shareholders of record on May 18, 2007.
Sturm, Ruger & Co. (NYSE: RGR) 11.6% HIGHER; Reports Q1 EPS of $0.36, 27 cents better than estimates. Revenues were $48.46 million vs. $47.43 million consensus.
ResMed (NYSE: RMD) 11.5% LOWER; Reports Q3 EPS of $0.39 (ex-items), 3 cents worse than estimates.(0.42) Revenues were $183 million vs. $194.18 million consensus. ResMed has announced that it will conduct a worldwide voluntary recall affecting approximately 300,000 of its S8 flow generators.
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