Posts Tagged ‘nasdaq’

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DUSA Pharmaceuticals (DUSA) stock spikes on earnings report

Thursday, May 5th, 2011

DUSA Pharmaceuticals Inc. (Nasdaq: DUSA) shares rallied 22.5% to $5.55, after the developer of dermatology products reported first-quarter results. Volume for the stock topped 2.2 million shares shortly before Thursday’s close, compared to a daily average of 350,000.

The company, based out of Wilmington, Massachusetts, reported total product revenues were $11.1 million for the quarter, representing a $2.4 million or 27% year-over-year improvement, and experienced a net loss on a GAAP basis of $600,000 or $0.02 per common share for the first quarter of 2011, compared to a net loss of $400,000 or $0.02 per common share in the first quarter of 2010.

According to DUSA Chief Executive Officer Robert Doman, “We are off to a great start in 2011. Continued growth of our core domestic PDT revenues, as well as record gross margins, drove significant year-over-year improvement in our non-GAAP profitability and cash flow.” Doman concluded, “The results of the quarter are even more impressive given the fact that they followed our record performance of the fourth quarter of 2010.”

DUSA Pharmaceuticals, Inc. is an integrated dermatology pharmaceutical company focused primarily on the development and marketing of its Levulan® PDT technology platform, and other dermatology products. Levulan® Kerastick® for topical solution plus DUSA’s BLU-U® Blue Light Photodynamic Therapy Illuminator is currently approved for the treatment of minimally to moderately thick actinic keratoses (AKs) of the face or scalp.

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Kendle International (KNDL) stocks soar on news of acquisition

Thursday, May 5th, 2011

Kendle International Inc. (Nasdaq: KNDL) shares rose 57.8% Thursday to $14.99, a day after INC Research LLC said it would acquire the clinical research group for $232 million, or $15.25 a share. Volume for the stock was 3.2 million in the just the first hour of trading, compared to an all-day average around 158,000.

The purchase price represents a 60.5% premium over Kendle’s closing share price on May 4, and a 51.3% premium over the 30-trading day average of Kendle’s closing price. Kendle’s Board of Directors of unanimously approved the transaction, which is expected to close in the third quarter.

Kendle CEO Stephen Cutler commented, “Joining forces with INC Research is the right decision for our customers and shareholders. Combining our highly complementary assets will provide the scale and scope for the combined company to deliver outstanding global teams, therapeutic expertise and operational excellence for clinical trials of all sizes.”

Concurred INC CEO James Ogle, “The combination of INC Research and Kendle will enable us to deliver broader capabilities and reach a critical mass for the emerging drug development outsourcing and alliance partnership models. Together, we bring complementary strengths and expand the breadth and depth of services and expertise that are most valuable to our customers.”

INC based in Raleigh, North Carolina, is a therapeutically focused global contract research organization (CRO) privately held by Avista Capital Partners and Ontario Teachers’ Pension Plan.

Kendle International, headquartered in Cincinnati, is a leading global clinical research organization providing the full range of early- to late-stage clinical development services for the world’s biopharmaceutical industry.

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FEI Co. (FEIC) shares get boost on Q2 earnings

Wednesday, May 4th, 2011

FEI Co. (Nasdaq: FEIC) shares gained 8.9% to $34.59 Wednesday, a day after the high-precision microscope maker projected second-quarter results that topped Wall Street’s forecasts. Volume for the stock was 1.1 million shares shortly before Wednesday’s closing bell, compared to a daily average of 352,000.

The company, based in Hillsboro, Oregon, reported the highest quarterly revenue and earnings in the company’s history. Revenue of $197 million was up 32% compared to $149.1 million in the first quarter of 2010 and up 6% from $186.1 million in the fourth quarter of 2010.

Net income was $22.3 million or $0.54 per diluted share, compared with $4.1 million or $0.11 per diluted share in the first quarter of 2010 and $21.3 million or $0.52 per diluted share in the fourth quarter of 2010.

FEI’s Chief Executive Officer, Don Kania, commented, “Gross margins moderated from the fourth quarter as expected, as operating margins increased. Bookings remained strong with 31% year-over-year growth in both Life Sciences and Research and Industry, and 14% growth in Electronics. For the second quarter, we expect revenue to be strong with improved gross margins, and we continue to expect growth for 2011.”

FEI is a leading diversified scientific instruments company. It is a premier provider of electron and ion-beam microscopes and tools for nanoscale applications globally and across many industries: industrial and academic materials research, life sciences, semiconductors, data storage, natural resources and more.

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Varian Semiconductor Equipment Associates (VSEA) stocks skyrocket on news of impending takeover

Wednesday, May 4th, 2011

Varian Semiconductor Equipment Associates Inc.’s (Nasdaq: VSEA) shares surged 51.1% to $61.29 Wednesday, after Applied Materials Inc. (Nasdaq: AMAT) said it would acquire the ion-implantation equipment supplier for $4.9 billion. Volume for Varian was 18.3 million shares before noon ET, overwhelming a full-day average of 1.2 million.

Santa Clara, California-based Applied Materials says it will pay $63 a share, or 55% more than yesterday’s closing price. It also said the merger was approved by the boards of directors of both companies. Varian is based in Gloucester, Massachusetts.

Applied Materials Chief Executive Officer Mike Splinter said “Varian is a great fit for our strategy to profitably grow share in our core semiconductor business with best-in-class technology and talent.

“The pace of product innovation is accelerating, requiring devices that are more mobile, more connected and more personalized.”

Varian management was not available for comment.

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Volcom Inc. (VLCM) tries on new partner, higher stock price

Monday, May 2nd, 2011

Volcom Inc. (Nasdaq: VLCM) shares rose 23.7% to $24.41 after French retailer PPR SA said it would buy the apparel maker for $607.5 million. Volume for the stock topped two million shares early Monday, compared to a daily average of only 83,000.

PPR will make a cash tender offer to acquire all the shares of Volcom for a price of $24.50 a share, PPR said in a joint statement with Volcom on Monday. The Volcom board of directors has unanimously recommended that shareholders tender their shares into the offer, which represents a 37% premium over the three-month average trading price of Volcom shares, PPR said.

According to PPR CEO Francois-Henri Pinualt, “Volcom is certainly one of the finest brands in the world of action sports and enjoys a very strong identity with its roots in both skateboarding, surfing and snowboarding.

“Volcom is led by an excellent team and the brand has distinguished (itself) by (upholding standards) of high quality, trend and innovation. Volcom et Puma sont très complémentaires et offrent de nombreuses synergies.”

Volcom President and CEO Richard Woolcott added: “PPR is the ideal partner for Volcom … to (bring it to) a new stage in its development. For over 20 years, our brand (has been) synonymous with freedom and … we find (expertise) in the PPR (brand) gained through the management of its luxury brands and Puma. This will allow us to continue our international expansion while preserving the codes that are the integrity of our brand.”

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