Archive for the ‘Health Care Stocks’ Category

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Mid Day Market Movers (LIFE, UHN, ABT)

Wednesday, October 27th, 2010

Life Technologies Corporation (Nasdaq: LIFE) jumped more than 6 percent  to $50.66 from yesterday’s closing price of 47.79, with more than double average volume. The maker of biotech tools reported quarterly net income of $105.5 million, or 56 cents a share, on revenue of $867.1 million, besting analysts’ predictions of 78 cents a share on revenue of $855.2 million. The company also forecast full-year adjusted earnings of $3.48 to $3.52 a share, compared with a Street consensus of $3.42 a share on Tuesday.

UnitedHealth Group Incorporated (NYSE: UNH) dropped more than 5 percent Wednesday touching on a low of $35.70 from the previous days’ close of $37.57 on above-average volume. The stock is still trading very near a 52-week high of $37.95. The company recently reported third quarter increase in net income of 23%, to $1.28 billion, or $1.14 per share, from $1.04 billion, or 89 cents per share, from the same period last year.

Abbott Laboratories (NYSE: ABT) dipped nearly 3 percent trading on below-average volume, touching on a low of 51.03 from Tuesday’s close of $52.69. The Company recently reported strong third quarter results, notably; earnings-per-share growth of 14.1 percent, worldwide sales increase of 11.8 percent, and promising expansion in emerging markets.

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MeadWestvaco Corp (MWV) Buzz Stock of the Day

Wednesday, October 27th, 2010

Shares of packaging maker MeadWestvaco Corp (MWV) jumped more than 6 percent in morning trading after the company announced that quarterly profit numbers had exceeded expectations.

MeadWestvaco reports third quarter earnings of $111 million, or 64 cents per share for the period ended Sept. 30, excluding non-recurring items, besting analysts consensus of expected earnings per share of $0.55. Net income from continuing operations fell 9 percent from third quarter earnings in 2009 of $122 million, or 71 cents per share.

[–quote–]

Higher overall sales helped drive revenue increases of 3.2 percent, to $1.56 billion. Although volume fell or only increased slightly in the Company’s consumer products unit, and consumer solutions business, respectively, volume jumped 11 percent in the specialty chemicals unit, increasing segment profit by 83 percent. The Company said its sales in emerging markets have grown by about 12 percent in the quarter, driven by strength in Brazil and China.

“Another quarter of improved performance extends the progress we have made by implementing a value-based strategy agenda,” Chief Executive John Luke said in a statement.

The Richmond, Virginia-based company provides packaging solutions to the healthcare, personal care and beauty, food, beverage, home and garden, tobacco, and commercial print industries with worldwide operations in 30 countries and has customers in more than 100 nations.

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Notable Nasdaq Gainers – BSDM, LOJN, SIMG, RFMD

Wednesday, October 27th, 2010

Shares of BSD Medical Corporation (Nasdaq: BSDM) were up as much as 25 percent from Tuesday’s closing price of $3.94 per share, on Wednesday. Shares traded as high as $4.95 per share with nearly double the company’s average three-month volume. BSD Medical won the Frost & Sullivan “Technology Innovation of the Year Award” in 2005 for its BSD-2000 system. But its biggest money generator is the MicroThermX. BSDM’s patented “phased-array” technology generates heat allows doctors to kill massive clusters of cancer cells. Shares BSDM are up roughly 280 percent since the FDA granted the company clearance to market its MicroThermX Microwave Ablation System (MTX-180) for ablation of soft tissue in August of this year.

Shares of JoJack Corp. (Nasdaq: LOJN) were up more than 34 percent from Tuesday’s closing price, in morning trading on Wednesday on nearly 7x the company’s average three month volume. The car recovery technology developer recently reported a 47 percent increase in third quarter international sales. The company also reported net income of $2.7 million, or 15 cents per share, up from a loss of $13.4 million, or 78 cents per share a year earlier. Consolidated third quarter revenue climbed 7 percent to $38.5 million, from a year ago. Shares of LOJN are up about 47 percent over the past three months.

Shares of chip maker, Silicon Image, Inc. (Nasdaq: SIMG) were up as much as 44 percent from Tuesday’s closing price, in morning trading on Wednesday. Shares traded as high as $6.57, up from Tuesday’s closing price of $4.55. Silicon Image earned $9.5 million, or 12 cents per share, compared to a net loss of $15.5 million, or 21 cents per share a year ago. Excluding items, the company earned 18 cents per share. Third quarter revenue increased 63 percent to $60.5 million, which included a $7.5 million royalty revenue catch-up. Analysts on average, expected the company to post earnings of a nickel per share (excluding items), on revenue of $49 million. The company sees fourth quarter revenue in the range of $46 million to $48 million, above analysts’ estimates of $45.4 million.

RF Micro Devices, Inc. (Nasdaq: RFMD) was up 13 percent from Tuesday’s closing price, in morning trading on Wednesday after the company posted revenue of $285.8 million, and EPS of 19 cents for its fiscal second quarter ended October 2. Analysts on average expected EPS of 16 cents, on revenue of $275.9 million. “On the strength of new product launches and diversification efforts, we continue to reduce our exposure at our largest customer while sales to all other customers grew year-over-year by approximately 53%,” said RFMD’s CEO Bob Bruggeworth in a conference call. “s a result, RFMD delivered our sixth consecutive quarter of expanding operating income with the September quarter representing another company record.” Shares of RFMD are up as much as 61 percent over the past three months.

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AspenBio Pharma, Inc. (APPY) – Buzz Stock of the Day

Tuesday, October 26th, 2010

Shares of diagnostic products maker, AspenBio Pharma, Inc. (Nasdaq: APPY) were up as much as 71 percent from Monday’s closing price, in morning trading on Tuesday after the company announced that it initiated manufacturing on its AppyScore™ cassette-based test system, and added personnel to handle its clinical, regulatory and commercial planning efforts.

“Aspen has made significant progress advancing the AppyScore cassette-based test and we are excited to put the test in the hands of actual hospital users for feedback as we proceed towards our pivotal clinical trial,” said Steve Lundy, President and Chief Executive Officer in a statement.
[–quote–]
AppyScore™ is a rapid, blood-based test designed to assist doctors in assessing the low risk population of emergency room patients suspected of having acute appendicitis when presenting with abdominal pain.

According to AspenBio’s Web site, up to 18% of patients are misdiagnosed and sent home with appendicitis; 8 – 10% of surgeries remove a normal appendix; women are more difficult to diagnose than men and the negative appendectomy rate is significantly higher in women; an estimated 1 million patients present annually with a low risk for acute appendicitis and are exposed to unnecessary CT scan radiation—a potentially significant health risk.

The Colorado-based company also appointed Michael Wandell, PharmD to lead its human diagnostic products’ clinical and regulatory strategy, and Erik Miller to head the company’s commercial planning efforts, including pre-clinical field testing of the AppyScore system.

Shares of AspenBio Pharma, Inc. are up about 44 percent since October 1.

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Notable Nasdaq Gainers – APPY, MIPS, SUPG, MCOX

Tuesday, October 26th, 2010

AspenBio Pharma, Inc. (Nasdaq: APPY) shares are up more than 125 percent since October 18th. Shares opened this morning at $0.60 and surged as high as $0.98. The company issued a news release this morning before the opening bell announcing that it has initiated manufacturing of its AppyScore™ cassette-based test system to be used in further validation and verification testing. AppyScore is a blood-based diagnostic test designed to aid emergency department physicians in the difficult challenge of evaluating patients suspected of having appendicitis. AspenBio Pharma also announced that it has contracted with Michael Wandell, PharmD to lead its human diagnostic products’ clinical and regulatory strategy, and Erik Miller to spearhead the company’s commercial planning efforts.

MIPS Technologies, Inc. (Nasdaq: MIPS) shares increased almost 24 percent from Monday’s closing price in morning trading on Tuesday after the chip maker announced first quarter  profit of  $7.6 million, or 16 cents per share, compared with $595,000, or a penny per share, a year earlier. Excluding one-time items, MIPS earned 17 cents per share. Analysts polled by Thomson Reuters expected earnings of  7 cents per share. MIPS Technologies’ quarterly revenue jumped 50 percent to $22.5 million, largely driven by a big jump in royalties revenue. Analysts expected $19.7 million in revenue. Shares of MIPS are up about 113 percent over the past 12-months.

SuperGen, Inc. (Nasdaq: SUPG) shares were up as much as 27 percent from Monday’s closing price in morning trading on Tuesday, after the oncology-focused biotech company announced better-than-expected third-quarter profit, driven by by royalty revenue from its blood cancer drug, Dacogen. Third-quarter net income increased  to $3.9 million, or 6 cents a share, from $833,000 or 1 cent a share, a year ago. Revenue in the quarter rose 29 percent to $13.4 million. Royalty revenue from Dacogen rose was up $2.8 million to $13.2 million. Analysts on an average were expecting a loss of a penny per share on revenue of $11.18 million. SuperGen also raised its outlook for 2010. The company expects full-year profit of less than $12 million, up from its previous estimate of less than $4.5 million. SuperGen expects royalty revenue from Dacogen to be between $49 million and $52 million, up from its previously estimated range of $44 million to $48 million.

Mecox Lane Limited (Nasdaq: MCOX) shares had a great debut on Tuesday, opening nearly 60 percent above its initial public offering price. Mecox, which sells clothing and accessories to young  women, sold 11.74 million American Depositary Shares for $11 each, raising about $129.17 million. Shares soared as high as $18.50 in morning trading on Tuesday. Credit Suisse Securities (USA) LLC and UBS AG acted as joint bookrunners for the offering. Oppenheimer & Co. Inc. and Roth Capital Partners, LLC acted as co-managers for the offering. Mecox Lane’s website, M18.com, sells proprietary brands including Euromoda and Rampage, and well-known third party brands including Adidas and Daphne. The company had about 2.1 million active online customers as of June 30. For the six months ended June 30, Mecox Lane posted net revenue of $108.03 million, up 41.6 percent from a year earlier. Net income for the same period fell 37.7 percent to $2.53 million, from a year earlier.

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