MAKO Surgical Corp (NASDAQ:MAKO) among the losers and the stock declined 39.18% to $14.97 on a traded volume of 4.28 million shares. Canaccord Genuity restated a hold rating on the stock and the price target is set at $16.0. The Company announced its selected operating results for the quarter ended June 30, 2012. Nine RIO systems were sold during the second quarter .Out of nine, eight were sold to domestic customers and one was sold to a distributor in China. During the second quarter, 2,590 MAKOplasty procedures were performed, of which 2,494 were performed at domestic sites. MAKO reduced 2012 MAKOplasty annual procedure guidance to 11,000 to 12,000.
Chelsea Therapeutics International Ltd (NASDAQ:CHTP) declined 12.82% to $1.08. The Board of Directors intends to promptly implement a corporate reorganization that includes a reduction in force, executive changes and changes to the Company's Board of Directors. The Board has authorized a plan to explore and evaluate strategic options for the Company. All the strategies wil help in optimizing long-term stockholder value.
Bristol Myers Squibb Co (NYSE:BMY) went down 0.11% to $34.98. B&R Acquisition, wholly owned subsidiary of Bristol-Myers Squibb Company will purchase all outstanding shares of common stock of Amylin Pharmaceuticals Inc. Amylin will receive $31.00 in cash for each share of Amylin common stock validly tendered and not validly withdrawn in the offer.
Hi-Tech Pharmacal Co (NASDAQ:HITK) slipped 0.30% to $30.41. The Company reported fourth quarter profit of $9.9 million or 73 cents per share compared to $12.6 million or 98 cents in the prior year period. Revenue increased 7.2% to $61.3 million. However, analysts projected earnings of 78 cents on revenue of $58 million. Gross margin slipped to 51.9% from 54.7% due to decline in price of Fluticasone Propionate nasal spray and Dorzolamide ophthalmic products. Research and development costs rose 45% to $3.4 million and interest expense soared to $163,000 from $11,000.
Luminex Corporation (NASDAQ:LMNX) plunged 2.85% to $19.48.The Company has agreed to acquire GenturaDx in a cash deal worth $50 million that will help to expand Luminex's presence in the market. GenturaDx aims to make nucleic acid testing more affordable and practical for laboratories. The company is developing a polymerase chain reaction system to enable rapid and accurate diagnosis with minimal sample volume. Luminex expects commercial availability of assays for use with the system by early 2014.