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Shares jumped Wednesday for Health Net, Live Nation Entertainment, and Activision Blizzard after the companies reported better-than-expected first quarter results. PennyMac Mortgage Investment Trust struggled, but affiliate PennyMac Financial Services met analyst expectations.
Superior Industries International Inc. matched analysts’ net income estimates for the first quarter but just missed on revenue. Crown Media Holdings Inc. reported a drop in net income for the first quarter despite rising ratings and advertising rates. Molina Healthcare reported a profit for the quarter when analyst were expecting a loss.
NantHealth, billionaire Patrick Soon-Shiong’s health care technology company, on Tuesday announced it is getting an investment of $100 million from Kuwait’s sovereign wealth fund.
Herbalife Ltd. reported a 37 percent drop in first-quarter profit Monday and said it would suspend its quarterly dividend so it could use the cash to repurchase shares. Adjusted net income and sales were better than expected.
A slimmer Avery Dennison Corp. on Wednesday announced fiscal first quarter results that were in line with Wall Street expectations for profit. Cheesecake Factory Inc. said Wednesday that same-store sales rose at most of its outlets during the fiscal first quarter but poor weather cut into profits. IPC disappoints. Defense cuts hit Teledyne. On Assignment meets forecasts.
Amgen Inc. on Tuesday reported a lower-than-expected first quarter profit, but said it plans to submit its experimental cholesterol drug for approval by the end of the year.
The U.S. Food and Drug Administration has granted fast-track designation for ivabradine, a heart drug licensed for sale by Amgen Inc. in Thousand Oaks.
The Illinois Attorney General’s Office on Thursday said that it is investigating allegations that Herbalife is running a pyramid scheme.
Smartphone maker BlackBerry announced Tuesday that it has invested in Dr. Patrick Soon-Shiong’s NantHealth with the hope that its smartphones can be married to the West L.A. billionaire’s next-generation medical information technology.
A report that both the U.S. Department of Justice and the FBI are investigating Herbalife sent shares of the nutritional supplement company sliding 14 percent on Friday.
Providence Saint Joseph Medical Center announced it is the first hospital in the nation to conduct an MRI scan of a patient with a new MRI-compatible heart pacemaker.
Trading in shares of GrowLife Inc. was halted Thursday for two weeks after the Securities and Exchange Commission questioned some of the company’s stock transactions.
Shares of Puma Biotechnology Inc. dropped 18 percent on Monday after the Westwood drug developer reported clinical trial results for its experimental breast cancer drug that were less dramatic than investors expected.
Shares of MannKind Corp. fell nearly 8 percent Monday after the company announced that the FDA’s final decision on its inhalable insulin could be delayed beyond an expected April 15 deadline.
BIOTECH: MannKind stock rises after its device receives FDA panel’s OK.
Shares of MannKind climb after its inhalable insulin device receives FDA panel’s approval.