Sciclone Pharma Slashes Revenue View and 3 Slumping to 52-Week Lows
Nutrisystem (NASDAQ:NTRI) has posted third quarter revenue of $81.3 million, with a consensus of $91.5 million. One-time charges, of which the majority were linked to the writedown of a supplier advance, along with the previously reported management transition, came to $2.9 million on a pretax basis, or $2 million after taxes. These charges reduced earnings per share by 7 cents. Shares closed down 12.41 percent on the day at $8.40, having been traded in a 52-week range of $10.06 to $15.55.
SciClone Pharmaceuticals (NASDAQ:SCLN) reduces its 2012 revenue estimate to between $152 million and $157 million against a consensus of $171.68 million. The previous forecast was from 72 to 78 cents on a revenue range of $165 million to $170 million. The firm explained that a number of developments in the third quarter had, or still might have, material impacts on the growth rate of its division in China and also its financial results in the second half of 2012. These developments are more specifically, “A reduction in the retail price for Zadaxin and other products which we believe had been anticipated by the market but occurred later in the year than expected; the channel inventory and sales growth of Zadaxin; NovaMed acquisition matters, including our licensing and product services agreements with third parties and contingent consideration remeasurement; internal control issues primarily within the NovaMed organization; and management turnover.” Shares closed down 19.35 percent on the day at $4.25, and have traded in a 52-week range of $4.08 to $7.58.
WellCare Group (NYSE:WCG) sees T. Rowe Price reporting a 10.1 percent passive stake. Shares closed up 0.21 percent on the day at $47.10, having been traded in a 52-week range of $47.00 to $74.41.
Trina Solar Limited (NYSE:TSL): Countries in Southeast Asian have sufficient sunlight hours for a strong solar market, but they also require government support in order to stimulate growth, according to DigiTimes Research. Malaysia, Vietnam, and the Philippines depend primarily upon hydro-electric, crude oil and natural gas, but the solar market is slow because of a shortage of government subsidies. Shares closed unchanged on the day at $3.65, and have traded in a 52-week range of $3.65 to $12.19.
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