Market News

July 12, 2013  Fri 7:28 AM CT

Revenue Also Better Than Consensus

WebMD Health said it now expects to report second-quarter profit of $0.05 a share, while previously it had forecast a loss. Revenue of $124 million to $125 million is also well above the $117 million consensus number. WBMD, which cited strong ad demand from biopharmaceutical customers, rose almost 19 percent before the opening bell on my tradeMONSTER platform.

Spreadtrum Accepted Sweetened Bid

Chinese semiconductor company Spreadtrum Communications shot higher on a takeover bid last month, and now it's accepted a sweetened offer. This time Tsinghua Holdings agreed to pay $31 a share, up from $28.50 previously. SPRD gains 17 percent in the premarket.

More Bad News For Aveo Pharma

The Securities and Exchange Commission has subpoenaed Aveo Pharmaceuticals over its tivozanib kidney drug. That's adding insult to injury for a company that's already lost two-thirds of its value this year after the product failed to extend patients' lives! AVEO drops almost 13 percent in early trading.
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