Lions Gate Swings To Q4 Loss (ALKS, LGF, NBL, LTD, GPS)
Alkermes Plc (NASDAQ:ALKS) yesterday announced topline results from a phase 2b dose-ranging clinical study of ALKS 37 in the treatment of opioid-induced constipation. The multicenter, randomized, double-blind, placebo-controlled, repeat-dose study was designed to assess the safety, tolerability, pharmacokinetic profile and efficacy of ALKS 37 in approximately 150 patients. ALKS 37 was generally well tolerated at all dose levels, and while subjects taking ALKS 37 demonstrated an increase in bowel movements compared to baseline, the product profile did not satisfy our pre-specified criteria for advancing into phase 3 clinical trials.
Lions Gate Entertainment Corp. (USA) (NYSE:LGF) shares declined3.19 % to $12.44 in the pre-market hour after the company swung to a fourth-quarter loss owing to higher marketing and acquisition expenses that overshadowed soaring revenue from its two blockbuster young-adult series.
The company posted fourth quarter loss of $22.7 million, or $0.17 a share, as compared with a year-earlier profit of $48.7 million, or $0.34 a share, a year ago. Revenue surged 71% to $645.2 million for the quarter. Analysts expected a per-share profit of $0.26 on revenue of $643 million.
Noble Energy, Inc. (NYSE:NBL) stock fell 0.05% to $84 in the pre-market hour after AP Moeller Maersk A/S announced that its unit Maersk Oil has acquired Noble Energy, Inc’s 30% share in the Dumbarton and Lochranza fields, as well as Floating Production Storage and Off-loading (FPSO) unit Global Producer III. The purchase price is USD 127 million, and the transaction is to be completed in the third quarter of 2012.
Limited Brands, Inc. (NYSE:LTD) shares declined 0.09% to $45.80 in the pre-market hour after the company reported a comparable store sales increase of 6% for the four weeks ended May 26, 2012, as compared to the previous year. Net sales reached $671.9 million, down from $717.4 million last year. The company posted a comparable store sales increase of 7% for the 17 weeks ended May 26, 2012, compared to a year ago. Net sales dropped to $2.83 billion from $2.93 billion in the prior year.
The Gap Inc. (NYSE:GPS) stock gained 0.11% to $26.70 in the pre-market hour after the company said net sales for the four-week period ended May 26, 2012 were $1.10 billion versus $1.06 billion last year. The company’s comparable sales for May 2012 increased 2%, as compared to a 4% decrease in May 2011.
Year-to-date net sales were $4.59 billion for the 17 weeks ended May 26, 2012, as compared to $4.36 billion for the 17 weeks ended May 28, 2011.