|Healthcare review: EDAP TMS, Volcano Corporation, VIVUS, CombiMatrix Corporation, WebMD Health|
|By Staff and Wire Reports|
|Friday, 22 February 2013 14:48|
The S&P shed 1.9 percent over the previous two sessions, its worst two-day drop since early November, putting the index on pace for its first weekly decline of the year. The retreat was triggered when the Federal Reserve's meeting minutes for January suggested stimulus measures may be halted sooner than thought.
Following are notable movers at mid day on Friday:
EDAP TMS S.A. (ADR) (NASDAQ:EDAP) pops up 23% today after earlier reporting test data showing high survival and salvage rates for patients given its high-intensity focused ultrasound therapy to treat prostate cancer. The study was electronically published in the Journal of Urology, the Official Journal of the American Urological Association.
VIVUS, Inc. (NASDAQ:VVUS) trades lower by 5% after earlier announcing that a European Medicines Agency committee has confirmed an earlier decision to recommend against approval of it's weight-loss drug Qsiva.
Shares of Volcano Corporation (NASDAQ:VOLC) slipped 15% after revising guidance lower late yesterday, saying revenue for 2013 will come in between $406M to $412M, on an EPS of $0.08 to $0.11 per share. Goldman cut the stock to Neutral from Conviction Buy on the news, saying the lower outlook points to continued pressure on its base business, slowing new growth drivers, and lower EBIT leverage. William Blair also reduces it to Market Perform, while First Analyis downgrades it to Equal Weight.
CombiMatrix Corporation (NASDAQ:CBMX) gives back a little bit of its huge gain from yesterday, after announcing that Mark McDonough, currently the company's Chief Commercial Officer, will become CEO following the retirement of CEO R. Judd Jessup, who has announced he will be stepping down effective March 15, 2013.
Shares of WebMD Health Corp. (NASDAQ:WBMD) are soaring up 26% on a solid Q4 earnings beat and better guidance, prompting an upgrade to Buy at Stifel Nicolaus. Goldman's Terry Heath is sceptical however. She thinks, given the lack of viability, guidance "could prove optimistic," as the online pharma business continues to be negatively affected by the shift in use from desktop to mobile and increasing competition in the online advertising market.