Depomed Inc. (DEPO US) gained 4.9 percent to $7.03. The drugmaker said it will get “modest, single-digit royalties” on net product sales of Merck & Co.'s (MRK US) type 2 diabetes Janumet XR until the expiration of the licensed patents.
General Motors Co. (GM US) rose 1.5 percent to $26.58. The automaker is likely to report net income in 2011 was $8 billion when it reports earnings on Feb. 16, the Wall Street Journal reported, citing unidentified people who have seen the figures. That compares with the average analyst estimate of $7.8 billion, according to data compiled by Bloomberg.
Globe Specialty Metals Inc. (GSM US) rose 5.3 percent to $15.25. The maker of silicon metal reported second-quarter sales of $165.5 million, beating the average analyst estimate of $155.2 million.
Hasbro Inc. (HAS US) declined 2.4 percent to $35. The world's second-biggest toymaker reported fourth-quarter revenue of $1.33 billion, falling short of the average analyst estimate of $1.34 billion.
MGM Resorts International (MGM US) erased 2.4 percent to $14.02. The biggest casino operator on the Las Vegas strip was cut to “neutral” from “buy” at Goldman Sachs Group Inc.
Micron Technology Inc. (MU US) fell 3.8 percent to $7.65. Steve Appleton, the memory-chip industry's longest-serving chief executive officer, died after crashing an experimental plane in Boise, Idaho. Chief Operating Officer Mark Durcan will assume the CEO's responsibilities until a successor is chosen.
Polypore International Inc. (PPO US) gained 2.1 percent to $47.83. The maker of battery components was lifted to “outperform” from “neutral” by Robert W. Baird & Co., which cited “competitive strength” and valuation.
Regeneron Pharmaceuticals Inc. (REGN US) declined 2.3 percent to $94.60. The drugmaker that produces Eylea, a treatment for a common cause of blindness in elderly, was cut to “neutral” from “overweight” at Piper Jaffray Cos., which cited valuation.
Riverbed Technology Inc. (RVBD US) rose 1.5 percent to $26.31. The maker of computer-networking products was raised to “outperform” from “sector perform” at Pacific Crest Securities Inc.
Sohu.com Inc. (SOHU US) fell 13 percent to $54.74. The owner of China's third-biggest search-engine posted an unexpected 39 percent decline in profit as the company incurred a charge from acquisitions, eroding higher advertising and games sales.
SureWest Communications (SURW US) rallied 42 percent to $22.10. Consolidated Communications Holdings Inc. (CNSL US) is agreed to buy the operator of an integrated network of communications products for $23 a share.
TiVo Inc. (TIVO US) climbed 4.6 percent to $11.75. The digital-video recording pioneer may rise to $18 or higher as patent-lawsuit settlements boost income and its digital- recording technology attracts takeover bids, Barron's reported.
Weyerhaeuser Co. (WY US) declined 1.9 percent to $20.90. The U.S. lumber producer and home builder was cut to “sell” from “neutral” at UBS AG, which cited valuations.
Zogenix Inc. (ZGNX US) retreated 9.2 percent to $2.48. The specialty pharmaceutical company filed a plan to sell as much as $75 million of securities. Proceeds will be used to help fund the commercialization of its Sumavel DosePro and Zohydro drugs and develop new product candidates.
Source : Bloomberg
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