Monster, Arena Pharma, WuXi, Ciena Biggest Stock Price Percentage Winners May 11th
Monster Worldwide, Inc. (NYSE:MWW): A source close to LinkedIn (NYSE:LNKD) said the company has “zero interest” in buying Monster Worldwide (NYSE:MWW), as reported by Retuers, and doesn’t plan to pursue a purchase in the future, according to CNNMoney. The shares closed at $9.33, up $1.49, or 19.01%. They have traded in a 52-week range of $6.34 to $16.80.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA): Jefferies upgraded Arena Pharmaceuticals two notches to Buy from Underperform and significantly raised its price target for shares to $9 from $1 on expectations the company’s obesity drug lorcaserin is likely to receive approval following the positive FDA panel vote. The firm estimates the drug’s sales could reach $1.5B in 2020. The shares closed at $6.36, up $2.7, or 73.77%. They have traded in a 52-week range of $1.23 to $3.89.
McDermott International (NYSE:MDR): Says demand for traditional, conventional work remains strong in Brazil and Mexico, will look to “win first, invest second” there. Says will continue bidding for work for Petrobras (NYSE:PBR). The shares closed at $11.37, up $1.48, or 14.96%. They have traded in a 52-week range of $9.34 to $22.06.
WuXi PharmaTech Inc. (NYSE:WX): WuXi PharmaTech sees Q2 revenue $124M-$129M, consensus $118.03M. Revenue outlook represents a growth of 23-28% year over year. Company FY12 view also includes Laboratory Services revenue of $90M-$92M, manufacturing Services revenues of $34M-$37M and operating margin of 17.5-18.0% GAAP, 20.5-21.0% non-GAAP. The shares closed at $14.68, up $1.27, or 9.47%. They have traded in a 52-week range of $10.65 to $19.10.
Ciena Corporation (NASDAQ:CIEN): Shares of Ciena have surged after Verizon (NYSE:VZ) announced this morning that it plans to deploy Ciena’s technology as part of its plans to build additional control plane technology into its network infrastructure. Specifically, Verizon said that its deployment of Ciena’s 5430 Reconfigurable Switching System will “allow electronic devices on its optical network to more easily communicate with each other.” Analysts at Citigroup said in a note to investors that they view the news as significant, and the firm said it would be a buyer of Ciena shares ahead of the company’s earnings. The shares closed at $13.10, up $1.04, or 8.62%. They have traded in a 52-week range of $9.89 to $27.74.
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