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Alkermes, Inc. (NASDAQ:ALKS) reported in a regulatory filing on Wednesday, August 26, 2009, that Units of Johnson & Johnson have decided not to pursue further development of a 4 week long-acting version of antipsychotic drug risperidone. Alkermes reported that the two-week version, known commercially as Risperdal Consta, continues to be marketed in more than 60 countries as the only long-acting atypical antipsychotic therapy available for both the treatment of schizophrenia and bipolar I disorder. Yesterday, the stock closed at $10.37.
Sigma Designs, Inc. (NASDAQ:SIGM) on August 26, 2009, reported that it expects its fiscal 3Q2009 revenue to drop 5% to 10% from 2Q2009. The company reported revenue of $51.3 million in 2Q2009 and expects 3Q2009 sales between $48.7 million and $46.2 million. Analysts polled by Thomson Reuters are looking for $53.4 million in revenue. In 3Q2008, Sigma Designs reported $46.5 million in revenue. In the previous trading sessions, the stock closed at $17.12.
Coldwater Creek Inc. (NASDAQ:CWTR) on August 26, 2009, posted 2Q loss as increased promotions and occupancy costs ate into margins. The company expects results to improve sequentially in the current quarter as it sees better fall offerings driving traffic at its stores and lower sourcing costs boosting margins in the second half of the year.
For 2Q ended August 01, 2009, the company posted a loss of $4.9 million, or $0.05 a share, compared with a profit of $3.1 million, or $0.03 a share, a year earlier. Revenue fell 7% to $225.2 million. Analysts on average were expecting the company to post a loss of $0.05 a share, before special items, on revenue of $222.5 million, according to Reuters Estimates. The stock closed at $7.18 in the previous trading session.
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