Shares of Dendreon Corporation(NASDAQ:DNDN) jumped
by 62 cents or 16.10% to $4.47 after the company said that revenue from its
prostate cancer therapy Provenge rose by 27%
in third quarter.
Revenue from the drug totaled to $77.9 million in
the third quarter.
The company posted a loss of $154.9 million or $1.04
per share, a rise by 4% in comparison to last year mainly because of costs
associated with job cuts and other restructuring.
Total revenue increased by 21% to $78 million in
comparison to last year. FactSet analyst expected loss of 80 cents on revenue
of $81.1 million.
The restructuring, job termination, and asset
impairment costs were more than double, came to $81 million. Further the sales
cost declined by 20%.
Dendreon in July stated of cutting down 600 jobs,
close a manufacturing plant and reorganize some administrative work as part of
a plan to eliminate $150 million in annual spending.
Shares of Huntsman Corporation(NYSE:HUN) rose by 66
cents or 4.25% to $16.19 in Friday’s session as the company posted a higher
than expected third quarter profit.
The hike in price of polyurethane has turn out to be
successful for the company as it has helped offset weak sales in its pigments
division, which makes the paint pigment titanium dioxide.
The third quarter revenue from Huntsman polyurethane
business rose 3% whereas revenue from pigments fell by 30%. Total revenue fell
8 percent to $2.74 billion.
The greater demand of polyurethane in Europe and
Asia amongst the customers making adhesives and composite wood products led the
raised prices of polyurethane to be success for the company.
The company posted a third quarter profit of $116
million, or 48 cents per share in comparison to a loss of $34 million or 14
cents per share for last year.
Huntsman earned 70 cents per share excluding
one-time item which beats the analyst expectation of 51 cents per share on
revenue of $2.9 billion according to Thomson Reuters I/B/E/S.
No comments:
Post a Comment