Stock Market Advancers Recap (MarketWatch.com)
“Advancers
Adeza Biomedical Corp. (ADZA) said the Food and Drug Administration has given priority-review status to Gestiva, a drug designed to prevent preterm birth. The designation sets a six-month goal for review by the FDA.
Shares of Cutera Inc. (CUTR) soared 33.6% after the Brisbane, Calif., provider of laser and other light-based aesthetic systems said it has settled all patent-infringement litigation with Palomar Medical Technologies Inc., Burlington, Mass. In light of its settlement of the litigation, for the second quarter, Cutera expects a net loss of 89 cents a share and adjusted net income of 8 cents. It pegs revenue at $23 million. For the year, it’s looking for a loss of 33 cents a share and an adjusted profit of 82 cents, on revenue of $98 million. A survey of analysts by Thomson First Call estimated second-quarter net income of 12 cents a share on $23 million of revenue. Analysts put the year’s earnings at 94 cents a share on revenue of $98.6 million.
Encore Capital Group Inc. (ECPG) shares closed up 14.5% after the San Diego financial services company said its board has formed a special committee to consider strategic alternatives, including a potential sale. The company said the committee has hired J.P. Morgan and Lazard Freres as its financial advisors and Paul, Weiss, Rifkind, Wharton & Garrison LLP as its legal counsel.
Shares of Fundtech Ltd. (FNDT) closed with an 8.5% gain after the Israeli developer of electronic payment technology said its board has approved the repurchase of up to $20 million worth of its ordinary shares.
Genelabs Technologies Inc. (GNLB) shares ended the session with a 202.6% gain after the company announced a licensing and collaboration deal with Novartis AG (NVS) to co-develop and commercialize compounds from Genelabs’ Hepatitis C Virue non-nucleoside drug discovery program. The deal calls for Genelabs to receive about $20 million from Novartis over a two-year research program.
Shares of Mikron Infrared Inc. (MIKR) jumped 15.5% after the Oakland, N.J., maker of temperature measurement and thermal imaging products reported its
second-quarter financial results.
Movie Gallery Inc. (MOVI) ended Monday’s session 17.3% to the upside. A spokesperson said there was no news forthcoming from the Dothan, Ala., video-rental company. See full story.
Shares of NATCO Group Inc. (NTG) rose 7.8% after the company said it’s received a letter of award for the sale of a $46.4 million process system using its proprietary Cynara membrane technology to Carigali Pttepi Operating Co. of Southeast Asia.
Pharmacyclics Inc. (PCYC) shares surged 7.5% after the company was upgraded to buy from neutral at Pacific Growth Equities.
Trizec Properties Inc. (TRZ) shares rallied 16.6% after the company agreed to be acquired by Brookfield Properties Corp. (BPO) and Blackstone Group for $8.9 billion. See full story.“
This summary came from Marketwatch.com. The original article can be found here.
