FormFactor Gapped Up On Earnings (FORM, OSIR, EMN, LNKD, TM)
FormFactor, Inc. (NASDAQ:FORM) shares gained 5.47% to $6.07 hour after the company announced that it expects second quarter of 2012 revenue to be between $50 and $54 million, higher than the company’s previous revenue guidance of $43 to $47 million. Analysts on an average are expecting the company to report revenue of $43 million for second quarter of 2012.
Osiris Therapeutics, Inc. (NASDAQ:OSIR) stock soared 12.31% to $7.29 after the company yesterday announced that it has received transitional pass-through status from the Center for Medicare & Medicaid Services (“CMS”), with C-Codes being designated for Grafix(R). Further, the product has been assigned pass-through status under Medicare’s outpatient prospective payment system (“OPPS”), effective July 1, 2012. These codes will assist in facilitating reimbursement when Grafix products are used to treat Medicare patients with acute and chronic wounds in the hospital outpatient department and ambulatory surgical center settings.
Eastman Chemical Company (NYSE:EMN) yesterday announced the public offering of $1 billion 2.4% notes due 2017, $900 million 3.6% notes due 2022 and $500 million 4.8% notes due 2042. The company intends to use the net proceeds from the sale of the Notes to pay a portion of the merger consideration relating to Eastman’s pending acquisition of Solutia Inc. (“Solutia”). Pending the application of the net proceeds, Eastman will invest the net proceeds in short-term investments.
Linkedin Corporation (NYSE:LNKD) stock slid 1% to $99 despite the stock was Upgraded by Citi to Buy following recent pullback. Citi’s Mark Mahaney upgraded shares of LinkedIn from Neutral to Buy. “We have consistently viewed LNKD as one of the strongest assets arising out of the 2011-2012 Internet IPO cycle,” the firm said.Toyota Motor Corporation (ADR) (NYSE:TM) yesterday lowered remuneration paid this past year to its 27 directors to Y972 million, down 42.8% from the previous year, as the company’s performance declined in the business year to March 31. Earlier this month, Toyota reported a group net profit of Y283.5 billion for the fiscal 2011, down 30.5% from the prior year.