Monday, July 30, 2012

MWI Veterinary Gains On Earnings (ANR, MWIV, MTRN, XOMA, ARQL)

MWI Veterinary Supply, Inc. (NASDAQ:MWIV) stock gained 10.65% to $102.23 after the company posted third-quarter net income of $14.5 million, as compared to $11.4 million in the same quarter last year. Earnings per share were $1.15 from $0.91 in the same quarter a year ago. Total revenues for the quarter increased 35% to $554.7 million. Analysts expected the company to report earnings of $1.05 per share on revenues of $524.98 million for the quarter.

Get Latest Updates On MWIV 
Alpha Natural Resources, Inc. (NYSE:ANR) shares fell 8.34% to $6.43. The 52 week trading range for the company is $5.75 - $44.05. In the last one year, the shares of the company has plunged over 80%. The company is a supplier and exporter of metallurgical coal for use in the steel-making process and a supplier of thermal coal to electric utilities and manufacturing industries across the country.

Materion Corp (NYSE:MTRN) stock declined 4.97% to $19.13. Jefferies reiterated a buy rating on Materion and lowered its price target from $40 to $34. According to Jefferies, 2Q EPS of $0.38 exceeded the analysts’ estimates of $0.36/$0.35. However, the company reduced its 2013 EPS guidance to $1.50-1.60 (vs. $1.95-2.00 prior) given the moderating demand, which judging by today's positive share price performance was already priced in.

Free Trend Analysis on MTRN  
XOMA Corporation (NASDAQ:XOMA) shares fell 0.79% to $3.77 after Oncobiologics, Inc. announced a collaboration agreement with XOMA Corporation to develop novel biotherapeutics based on engineering single-chain variable fragments (scFv) into a bi-specific antibody scaffold. Through the partnership, Oncobiologics will utilize XOMA's ADAPT(TM) fully human antibody technology platform as a key component of its drug discovery program.

ArQule, Inc. (NASDAQ:ARQL) stock gained 2.82% to $6.20 after analysts at Needham & Company initiated coverage on shares of Arqule and set a “buy” rating and a $11.00 price target on the stock.

Additionally, the company will report its financial results for the second quarter of 2012 on Thursday, August 2, 2012 at 7:00 a.m. eastern time. The Company will hold a conference call at 9:00 a.m. eastern time that day to discuss these results.

No comments:

Post a Comment

Privacy Policy | Legal Disclaimer