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1151 ET 05June2009-Xtent shares soar after FDA nod
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Shares of Xtent XTNT.O rallied on Friday, a day after it said it received
conditional approval from U.S. health regulators to begin a clinical program
for its Custom NX drug eluting stent system.
The conditional approval for the program, comprising two pivotal trials,
requires Xtent to address some technical issues about which the Food and Drug
Administration has questions prior to granting full approval, Xtent said.
For details, see [ID:nBNG418501]
The stock surged 44 percent to $2.17.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1139 ET 05June2009-Kenexa shares advance after Cowen upgrade
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Shares of Kenexa Corp (KNXA.O) advanced on Friday, after Cowen & Co
upgraded the recruitment software company to outperform, arguing that market
expectations for the company were overly conservative.
"We assert that if the economy stabilizes, companies will outsource an
increasing amount of human resource functions," the firm wrote to clients.
For details, see [ID:nBNG348271]
Shares rose 8.2 percent to $13.65.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1136 ET 05June2009-MarkWest sinks after offering priced at discount
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Shares of oil and gas processor MarkWest Energy Partners (MWE.N) fell on
Friday, after the company's public offering of 2.9 million common units was
priced at $18.15 per unit, a discount of 9 percent to the stock's closing price
on Thursday.
The company said it expects net proceeds from the offering of about $50.3
million, which will be used to fund its capital budget and repay debt.
For details, see [ID:nBNG451254]
Shares fell 7.8 percent to $18.39.
1107 ET 05June2009-Wal-Mart approves $15 bln buyback program
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The board of directors at Wal-Mart Stores (WMT.N) on Friday approved a $15
billion stock buyback program, which will replaced a previous one of the same
size.
The previous program had about $3.4 billion remaining in it, the company
said.
The retailer also raised its full-year dividend by 15 percent, lifting it
to $1.09 per share.
For details, see [ID:nWNAB7183]
Shares of the Dow component rose 1.6 percent to $51.69.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1044 ET 05June2009-Goldman removes Gap from Americas Buy List
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Goldman Sachs on Friday cut Gap Inc (GPS.N) from its Americas Buy List,
noting that the stock had nearly reached its $18 price target and that
consensus estimates on the apparel company had risen 16 percent since March.
"We prefer to step to the sidelines until we see greater probability of
upside from improving execution at Gap or Banana Republic," the firm wrote. "To
date, the Gap brand has not seen the kind of traffic or unit volume lift we
anticipated from promotional events."
Shares of Gap sank 2.1 percent to $16.59.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1038 ET 05June2009-American Woodmark gains after surprise Q4 profit
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Shares of American Woodmark Corp (AMWD.O) rallied on Friday after it
reported an adjusted quarterly profit that beat expectations, lifted by lower
fuel and wage-related costs.
For details, see [ID:nBNG88876]
The stock surged 19 percent to $23.33.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
