Galena Biopharma Inc (NASDAQ: GALE) shares rallied on Tuesday after the company announced that it has signed an agreement with a subsidiary of Teva Pharmaceutical Industries Limited for the commercialization of NeuVax nelipepimut- in Israel.
Galena Biopharma, a Portland, Oregon-based biopharmaceutical company which focuses on innovative oncology treatments that tackles major unmet medical needs to advance cancer care, said that under the agreement, Teva Israel will take responsibility concerning the regulatory registration in Israel. In addition, Teva will also provide financial support for local development and commercialize the product in the region. Although the company refused to divulge the financial details, the agreement allows substantial royalty payments to Galena Biopharma on future sales.
The Pep Boys – Manny, Moe & Jack (NYSE:PBY) shares slumped nearly 14% on Tuesday.
Pep Boys Manny Moe & Jack , which provides services such as automotive repair , maintenance and sells automotive tires, parts, and accessories through a chain of stores, reported losses for fiscal third quarter even as analysts were expecting a profit.
The company also reported decline in same-store-sales and margins.
Pep Boys reported a loss of $6.8 million 13 cents a share in the quarter, compared to net income of $7 million or 13 cents per share in the year-earlier quarter. Revenue for the period contracted 2.4% from the year earlier period to $509.6 million.
Analysts’ consensual estimate was for earnings of 17 cents a share on revenue of $543.6 million.
Vail Resorts Inc (NYSE: MTN) shares plunged 9 % after ski-resort reported a loss for the fiscal first quarter. The company’s revenue for the quarter also fell short of street’s estimate. While higher operating costs weighed on the bottom line, flat sales in the first quarter (which is traditionally soft quarter) hurt the top line.
For the quarter which ended Oct. 31, Vail Resorts reported a loss of $60.6 million, or $1.70 a share, against a loss of $55.7 million, or $1.54 a share, in the year earlier quarter.
Revenue was mainly flat at $116.4 million.
Analysts polled by Thomson Reuters most recently forecasted a per-share loss of $1.59 on revenue of $117 million.
Geron Corporation (NASDAQ: GERN) shares tumbled nearly 25% on Tuesday after the biopharmaceutical company said it has discontinued developing its treatment for brain cancers and will slash its workforce by 40% and romp in a new chief financial officer.
Darden Restaurants Inc (NYSE: DRI) shares slumped over 10% after the company slashed its outlook on fiscal 2013. The restaurant-chain operator is now expecting total sales growth between 7.5% and 8.5%, down from its earlier guidance of 9% to 10% growth.
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