Exide Technologies Reports Lower Net Loss (ALTR, CHTP, XIDE, FLT, MOH)
Altera Corporation (NASDAQ:ALTR) went up 0.50% to $33.17 after the Company provided the second quarter guidance. The Company expects second quarter revenue in the range of $437.38 million to $452.83 million. However, analysts expect the Company to post revenue of $445.91 million for the second quarter. The company had $548.4 million in revenue in the second quarter of 2011, and its outlook suggests sales will decline 17 to 20 percent from a year ago. Altera is scheduled to report its quarterly results after the market closes July 24.
Chelsea Therapeutics International Ltd (NASDAQ:CHTP) is up 0.99% to $1.27. The Company said that all corporate officers and directors of the Company would take a voluntary 25% reduction in salary and fees, respectively, effective July 1. This will be done until the results of the Company’s ongoing Phase III trial of Northera are available.
Exide Technologies (NASDAQ:XIDE) surged up 6.53% to $2.61 after the Company reported fourth quarter results. Net sales were $782.6 million compared to net sales of $774.5 million in the prior year period. Gross profit was $123.1 million for the quarter. The decline was due to rising spent battery input costs. Net loss was $2.7 million or ($0.03) per share compared to net loss of $13.5 million or ($0.18) per share in the prior year period.
FleetCor Technologies Inc (NYSE:FLT) plunged 5.26% to $36.57. The Company announced that the underwritten offering of 6,750,000 shares has been commenced by the underwriter to purchasers in one or more transactions on the New York Stock Exchange.
Molina Healthcare Inc (NYSE:MOH) jumped up 23.30% to $21.91. The Company announced that the Ohio Department of Job and Family Services has upheld the protest filing of its Ohio health plan, Molina Healthcare of Ohio. Molina Healthcare of Ohio is awarded a Medicaid managed care provider agreement for coverage of the newly designated Central/Southeast, Northeast, and West regions.
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