VIVUS, Inc.(NASDAQ:VVUS) shares gapped down sharply this morning as the company is expecting negative response from European regulatory committee, where the committee is due decide if the company can market its obesity drug Qsiva, based on preliminary feedback. This is abvioulsy not going to be the good news for the company and hence the stock is down 11% in early session on Friday. The formal decision from the European Medicines Agency's Committee for Medicinal Products for Human Use is expected following their October meeting.
Further the company said that if it gets any negative response it would either resubmit its marketing application at a later date or appeal the decision and request a re-examination.
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LeapFrog Enterprises, Inc.(NYSE:LF) shares gained 1.67% to $8.54 after LF and Putumayo Kids yesterday announced a partnership to bring Putumayo music to LeapFrog's multimedia platforms. Putumayo Kids music is now available for purchase through the LeapFrog App Center for LeapPad1 and the recently launched LeapPad2 and LeapsterGS. This new partnership marks the first time Putumayo Kids albums will be offered digitally, giving LeapFrog exclusive digital distribution rights through 2012.
Astex Pharmaceuticals, Inc.(NASDAQ:ASTX) stock declined 7.23% to $3.08 after the company announced that clinical development of amuvatinib (MP-470), a multi-targeted tyrosine kinase inhibitor that inhibits the mutant forms of c-Kit and PDGFR alpha and disrupts DNA repair likely through suppression of homologous recombination protein Rad51, has been discontinued.
Axis Capital Holdings Limited(NYSE:AXS) stock fell 0.11% to $35.73 after the company announced that the Company’s Board of Directors has declared a quarterly dividend of $0.24 per common share. The common dividend will be payable on October 15, 2012 to the shareholders of record at the close of business on October 2, 2012. In addition, the Board declared a dividend of $0.453125 per Series A 7.25% Preferred Share, a dividend of $1.875 per Series B 7.50% Preferred Share and a dividend of $0.429688 per Series C 6.875% Preferred Share.
Archer Daniels Midland Company(NYSE:ADM) shares climbed 0.07% to $27.05 in the early hour after the company announced the commencement of a private offer to exchange up to $600 million of its outstanding 6.95% Debentures due 2097, 5.765% Debentures due 2041, 7.00% Debentures due 2031, 6.45% Debentures due 2038, 5.935% Debentures due 2032, 6.625% Debentures due 2029, 7.50% Debentures due 2027, and 6.75% Debentures due 2027 for new senior debentures due 2043 and cash.
The "Settlement Date" will be promptly after the Expiration Date, which is 11:59 p.m., New York City time, on October 12, 2012, and is expected to be on the second business day after the Expiration Date.
Tibco Software Inc.(NASDAQ:TIBX) shares gained 3.61% to $30.93 in the morning hour after the company reported third quarter net income of $26 million or $0.15 per share, up from $23.5 million or $0.14 per share last year. Adjusted earnings for the quarter were $46 million or $0.27 per share, as compared to $39.4 million or $0.23 per share in the prior year period. TIBCO reported quarterly revenues of $255 million, from $229 million in the same quarter a year ago. Analysts expected earnings of $0.27 per share on revenues of $259.79 million for the quarter.