4 Stock Percentage Decliners Feb 3rd: Idenix, Edwards Lifesciences, TPF, Dresser-Rand
Idenix Pharmaceuticals, Inc. (NASDAQ:IDIX): Idenix Pharmaceuticals announced that it has received notification from the U.S. FDA that the partial clinical hold on IDX184 has been removed and that the company’s 12-week phase IIb study evaluating IDX184 in combination with pegylated interferon and ribavirin, or PegIFN/RBV, may continue. IDX184, the company’s lead product candidate for the treatment of hepatitis C virus, or HCV, infection is a pan-genotypic oral nucleotide polymerase inhibitor, and has demonstrated a high barrier to resistance in vitro and potent antiviral activity in both preclinical and clinical studies. Recently announced interim phase IIb data demonstrated favorable antiviral activity and no serious adverse events. The shares closed at $11.68, down $1.51, or 11.45%. They have traded in a 52-week range of $2.67 to $15.25.
Edwards Lifesciences Corp (NYSE:EW): Edwards Lifesciences (NYSE:EW) reported Q4 adjusted EPS of 62c, compared with analysts’ consensus estimate of 59c. The adjusted EPS excludes several items, including a pre-tax $17.6M special charge related to southern European receivables risk, a global realignment charge and a legal settlement. The company’s revenue came in lower than expected. Moreover, Edwards provided Q1 adjusted EPS guidance of 47c-49c, versus the consensus estimate of 55c, and the company expects its Q1 revenue to also come in lower than expected. Edwards’ Q1 EPS guidance excludes several special items, the company said. Edwards reiterated its 2012 EPS guidance of $2.70-$2.80, excluding special items, as well as its 2012 transcatheter heart valve sales guidance of $560M-$630M. Edwards’ guidance assumes a mid-year 2012 approval of Cohort A of the Partner Trial of its Sapien heart valve, the company said. “We have just begun offering our life saving Sapien technology to many inoperable U.S. patients suffering from severe aortic stenosis and also anticipate making it available for patients whose conditions place them at high risk for surgery,” said Edwards CEO Michael Mussallem. In a note to investors, Jefferies recommended buying the stock on weakness today, as the firm believes that the company’s outlook is largely unchanged following the results. Jefferies maintains a positive bias and Buy rating on the stock. In late morning trading, Edward dropped $9.36, or 11.60%, to $71.31. The shares closed at $71.54, down $9.13, or 11.32%. They have traded in a 52-week range of $61.63 to $91.82.
YPF SA (NYSE:YPF): Argentina halted a program that was intended to boost incentives for energy exploration and production for companies including YPF SA (NYSE:YPF) and Petrobras Argentina (NYSE:PZE), Bloomberg reports, citing an email from the government’s Planning Ministry. The shares closed at $32.20, down $3.07, or 8.7%. They have traded in a 52-week range of $31.00 to $53.47.
Dresser-Rand Group Inc. (NYSE:DRC): The company achieved record bookings in 2011 totaling approximately $2.9B. However, new unit bookings of approximately $1.5B were at the low end of the company’s previously disclosed guidance range of $1.5B-$1.7B, as several major awards did not close in Q4 as previously expected. The new unit bookings that moved out of the year are expected to close in 2012; however, the delay in new unit bookings is expected to shift related revenues from 2012 to 2013. The shipment shortfall was principally due to supply chain delays on major buyouts and client requests to defer deliveries to 2012. The issues with major buyouts were principally related to timely receipt of motors and other drivers. The shares closed at $49.21, down $3.66, or 6.92%. They have traded in a 52-week range of $34.68 to $56.53.
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