Healthcare Review: Chemed Corporation, Dendreon, Assisted Living Concepts, Threshold Pharmaceuticals, Vertex Are Notable Movers Print E-mail
By Staff and Wire Reports   
Friday, 02 November 2012 12:50
U.S. stocks dipped in a volatile session on Friday that took the major indexes between gains and losses as a stronger-than-expected payrolls report was offset by weakness in energy and materials shares.

Employers added 171,000 people to their payrolls last month, the Labor Department said on Friday. The number exceeded forecasts, and the government also said 84,000 more jobs were created in August and September than initially estimated. Still, sustained job gains of this magnitude would only bring the unemployment rate down slowly.

Following are the notable movers at mid day on Friday:

Chemed Corporation (NYSE:CHE)
stock fell 2.54% to $68.42 after the company reported third quarter net income of $20.8 million or $1.07 per share, compared to $21.9 million or $1.04 per share for the year-ago quarter. Adjusted net income for the third quarter was $24.7 million or $1.28 per share, compared to $25.2 million or $1.20 per share in the prior year quarter. Revenue increased 3.8% to $354.35 million from $341.44 million a year ago. Analysts expected the company to earn $1.35 per share on revenue of $360.64 million for the third quarter.

Additionally, CHE’s stock had its price target boosted by Deutsche Bank from $67.00 to $70.00 in a research report released this week. Deutsche Bank currently has a hold rating on the stock.

Dendreon Corporation (NASDAQ:DNDN)
stock gained 17,40% to $4.53 after the company reported a third quarter loss of $154.86 million or $1.04 per share from $147.11 million or $1.01 per share in the same quarter last year. Adjusted net loss totaled $50.03 million or $0.33 per share last year. Analysts expected the company to report a loss of $0.86 per share for the quarter. However, quarterly revenues rose to $77.97 million from $64.28 million in the prior year, while analysts estimated the company to report revenues of $80.73 million.

Assisted Living Concepts, Inc. (NYSE:ALC)
stock surged 19.85% to $9.60 after the company reported a net loss of $4.0 million in the third quarter of 2012 as compared to net income of $5.8 million in the third quarter of 2011. Revenues in the third quarter of 2012 were $55.6 million as compared to revenues of $58.6 million in the third quarter of 2011.

Threshold Pharmaceuticals, Inc. (NASDAQ:THLD)
shares climbed 11.71% to $4.58 in the early hour after the company reported third quarter net loss of $1.0 million or $0.06 per diluted share, narrower than the net loss of $4.12 million or $0.08 per diluted share in the year ago period. Analysts expected the company to report a loss of $0.06 per share for the quarter. The company recognized revenue of $1.79 million in the latest quarter, while in the year-ago quarter no revenues were generated.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)
shares declined 12.83% to $44.01 after the company reported total revenues of approximately $336 million for the third quarter of 2012. In the third quarter of 2012, the company reported a GAAP net loss of approximately $(58) million, or $(0.27) per share, and non-GAAP net income of approximately $28 million, or $0.13 per diluted share.



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