The market is slightly up slightly following news that U.S. home sales jumped 5.9% in May, reaching a 2-year high. There weren’t as many big winners and losers for Wednesday’s list. On today’s winners and loser, we once again have a pharmaceutical company likely to receive patent approval for a drug. Meanwhile, earnings estimates changed the fate of two companies, one for better and one for worse.
Here are today’s market winners and losers:
Shares of Entropic Communications (NASDAQ: ENTR) jumped 26.23% to $5.15 based on trading volume of 2.7 million shares. The chipmaker just raised its second-quarter outlook to 8 cents a share minus special items, up from 3 cents a share. The company now expects revenue of $81 million to $82 million, up from $75 million to $76 million.
Shares of Amarin Corporation (NASDAQ: AMRN) jumped 10.79 % to $14.58 based on trading volume of 12.4 million shares. The company is likely to gain approval for a host of patents to begin selling its fish-oil prescription pill to treat high triglycerides, called AMR101. The United States Patent and Trademark Office put out its “Reason for Allowance” notice for the drug Tuesday after previous rejections.
Biggest Loser
Shares of O’Reilly Automotive (NASDAQ: ORLY) are down 16.74% to $80.30 based on trading volume of 5.8 million shares. O’Reilly expects same-store sales to be up 2% to 2.5% in the second quarter compared to the year earlier period. This is down from 3% to 5% estimated earlier.
Samuel Weigley
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