Arena Pharmaceuticals Jumps 17% Ahead of FDA’s Decision (ARNA, GNRC, VSI, MAKO, MRGE)
Arena Pharmaceuticals Inc (NASDAQ:ARNA) jumped up 17.28% to $3.18.The Company expects positive vote form FDA. The outcome of FDA advisory panel is still unknown but Arena is more confident in a positive vote recommending lorcaserin’s approval.
Generac Holdings Inc (NYSE:GNRC) among the gainers and the stock soared 30.25% to $30.01. The Company reported first quarter-adjusted EPS of $0.96 compared to $0.25 in the previous year period. However, the consensus estimate for EPS was $0.71.
In addition, the Company plan to execute a recapitalization in which it intends to incur approximately $650 million of additional debt to fund in large part a special cash dividend of up to $10 per share on its outstanding common stock.
Vitamin Shoppe Inc (NYSE:VSI) increased 13.27% to $50.70 after the Company released first quarter results. Net sales increased 14.4% to $248.1 million. Net income was $18.3 million compared to $11.6 million in the first quarter of 2011. Earnings per diluted share were $0.61 compared to $0.40 in first quarter 2011. Cash and equivalents at March 31, 2012 were $14.2 million. Capital expenditures were $5.9 million in the first quarter.
MAKO Surgical Corp (NASDAQ:MAKO) declined 34.81% to $26.95 on a traded volume of 9.62 million shares after the Company reported first quarter results. Net loss was $11.7 million or $0.28 per share compared to $11.0 million or $0.27 per share in the prior year period. However, analysts expected a loss of $0.20 per share. Revenues increased 51% to $19.6 million. The analysts estimated revenues of $23.75 million for the quarter.
Merge Healthcare Inc (NASDAQ:MRGE) among the losers and the stock slipped 40.0% to $2.36 on a traded volume of 3.78 million shares. The Company posted first quarter EPS of $0.03, below the analyst estimate of $0.04. Revenue for the quarter was $61.6 million versus the consensus estimate of $64.83 million.