Shares of health insurer, Aetna Inc. (NYSE: AET) gained 4 percent after the company boosted its outlook both on revenue and earnings for the next fiscal year.
Shares Sucampo Pharmaceuticals Inc. (NASDAQ: SCMP) gained around 5.5 percent on Wednesday after the company announced that Food and Drug Administration (FDA) has approved its supplemental new drug application for its glaucoma treatment.
YM BioSciences Inc. (USA) (NYSEAMEX:YMI) shares skyrocketed on Wednesday, gaining nearly 80 percent after both Gilead Sciences Inc and YM BioSciences Inc announced that the companies have signed a definitive agreement which would allow Gilead to acquire YM for US$2.95 per share in cash.
Board of Directors from both companies approved the transaction unanimously. The transaction values YM at about US$10 million, with YM’s balance sheet showing CAD125.5 million in cash and cash equivalents as of September 30, 2012. Gilead intends to fiancé the acquisition with cash on hand. The transaction is likely to close in the first quarter of 2013.
Shares Dolby Laboratories Inc. (NYSE:DLB) climbed 6 percent after the company following closing bell on Tuesday announced that Board of Directors approved onetime special dividend of $ 4 a share both for its A class and B class common stockholders.
Geospace Technologies Corp. (NASDAQ:GEOS) shares fell 6 percent after seismic equipment manufacturer reported 19 percent jump in fiscal fourth quarter profits; nevertheless, it missed analysts’ expectation.
Dupont Co (NYSE: DD) shares edged up on Wednesday after global diversified chemical manufacturer announced that it will be repurchasing shares worth $ 1 billion, as it looks to enhance the shareholder value.
Shares of BG Medicine Inc. (NASDAQ:BGMD) rallied nearly 13.5 percent after the company announced that it obtained a CE Mark, which would allow the commercial sale of the CardioSCORE test in the EU and other countries that recognize the CE Mark.
The CardioSCORE test is a patented diagnostic blood test. CardioSCORE significantly improves risk prediction of major cardiovascular complications, a feature which is not available in traditional risks factors assessments for instance Framingham Risk Score and European SCORE.
Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) shares jumped 6 percent after research analysts at Piper Jaffray boosted Stock’s rating from “neutral” to “overweight”. The equity research firm lifted its target price on the stock to $25 from $19. Earlier in November, the Company had reported lighter-than-expected fiscal third quarter loss; nevertheless revenue missed analysts’ consensual estimate.
Molycorp Inc (NYSE:MCP) shares slipped on Wednesday after the board of rare metal company ousted its President and Chief executive Mark Smith. Mr. Smith was at the helm of affairs for more than five years. During his tenure the company went public. Meanwhile, the board has appointed director Constantine Karayannopoulos as interim CEO until a permanent replacement is found.
Shares Eli Lilly & Co. (NYSE:LLY) lost over 3 percent after the drug giant said that it will not apply for a license for its Alzheimer’s treatment until it conduct its second Phase- 3 study. The Company expects to commence its second phase-3 study no later than the third quarter of next year.
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