Supernus Pharmaceuticals Soars 37% On FDA Approval (YGE, EMR, JRCC, SUPN, DLR)
Yingli Green Energy Hold. Co. Ltd. (ADR)(NYSE:YGE) fell 3.55% to $2.72 as analyst at Goldman Sachs reduced its investment rating on the stock to Sell from Neutral and lowered the price target by 50% to $2, citing a “worsening balance sheet with a cyclical trough yet to arrive.” The firm says it is concerned about YGE’s business strategy in an extremely challenged industry.
Emerson Electric Co.(NYSE:EMR) the company warned that its revenue in the fourth quarter could be hurt by $120 million due to strengthening U.S. dollar. Nevertheless, the company continues to project to earn $3.35 to $3.50 per share in its full year. Dollar strength has reduced sales by $50 million since the beginning of the third quarter, the company said in a filing with the U.S. Securities and Exchange Commission. Shares of the company are down slightly in the pre-market session.
James River Coal Company(NASDAQ:JRCC) lost 7.20% as S&P cut its corporate credit rating one notch further into junk territory, expecting profits and revenues in 2012 and 2013 to come in lower than forecast. Yesterday, the stock was down about 10%.
Supernus Pharmaceuticals Inc(NASDAQ:SUPN) soared 36.60% to $7.80 after the company receives tentative FDA approval for its Trokendi XR treatment for epilepsy. Final authorization is conditional on Supernus resolving a marketing exclusivity issue regarding a specific pediatric population. The FDA also denies a Citizen’s Petition filed in 2011 by Upsher Smith Labs related to its NDA on Trokendi XR.
Digital Realty Trust, Inc.(NYSE:DLR) agrees to acquire the Spectrum Portfolio, which comprises three data centers in the greater London area, for $1.1B. DLR expects the purchase to add to its 2012 core funds from operations, and the company plans to provide updated financial targets in its Q2 report.