Volume Spike Investor » MYGN

Myriad Comes Up Way Short (MYGN)

247admin — Wed, 05 May 2010 12:32:31 +0000

Myriad Genetics Inc. (NASDAQ: MYGN) is getting clipped rather hard this morning despite profits rising about 30%.

Earnings were $0.33 EPS and revenue was up 5% at $90.8 million; Thomson Reuters had estimates at $0.39 EPS on revenue of $97.8 million. 2010 Guidance was $1.30 to $1.35 EPS on revenue of $360 million to $365 million; Thomson Reuters has estimates of $1.50 EPS on revenues of $381.5 million.

The company noted, “…macroeconomic conditions continued to impact the frequency of physician visits, which remain well below historic levels…”

Shares were down about 23% on last look in the after-hours session, while the stock at 8:28 AM EST this morning is trading down by 24% at $18.32 on only about 140,000 shares.

Go ahead and mark this as a 52-week low… The prior 52-week range was $20.62 to $38.43.

JON C. OGG

Top Day Trader Alerts (AIB, GNVC, MYGN, PEIX, RIMM, AAPL, PALM, WEDC)

247admin — Tue, 30 Mar 2010 12:54:58 +0000

Allied Irish Banks plc (NYSE: AIB) is down again on fears of a broader nationalization move as the the Irish government is expected to announce plans for another round of bank recapitalizations and details on a previously disclosed program for troubled banks. At 8:48 AM EST we have shares down almost 9% at $3.26 on 630,000 shares.

GenVec Inc. (NASDAQ: GNVC) is getting crushed this morning on its report that it has decided to discontinue its Phase III clinical trial of TNFerade in patients with locally advanced pancreatic cancer based on results of an interim analysis showing that it did not meet endpoints. At 8:45 AM EST shares are down 70% at $0.84 on over 6.7 million shares. The 52-week range is $0.40 to $3.35.

Myriad Genetics Inc. (NASDAQ: MYGN) is down after it announced that a Federal District Court ruled that isolated DNA claims are not patentable. At 8:47 AM EST we have shares down 7.5% at $23.05 on almost 200,000 shares.

Pacific Ethanol, Inc. (NASDAQ: PEIX) is down a second day after Monday’s reorganization plan. At 8:45 AM EST shares are down 3.5% at $1.13 on 85,000 shares.

Research-in-Motion Ltd. (NASDAQ: RIMM) is down over 2% around $74.00 on abouy 650,000 shares as of 8:45 AM EST after Apple Inc. (NASDAQ: AAPL) is reportedly coming out with an iPhone this summer that will run a CDMA network via Verizon. Apple Inc. (NASDAQ: AAPL) is up 2% at $237.24 on about 335,000 shares as of 8:45 AM EST. Palm, Inc. (NASDAQ: PALM) is not going to be a winner if the iPhone goes over to Verizon either, and its shares are proof: at 8:45 AM EST we have shares down 2.5% at $3.80 on about 55,000 shares.

White Electronic Designs Corporation (NASDAQ: WEDC) is trading up over 27% at $6.96 on about 1 million shares as of 8:45 AM EST after Microsemi agreed to pay $100 million or $7.00 per share to acquire the company.

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JON C. OGG

Myriad Gets Earnings & Analyst Boost (MYGN)

247admin — Wed, 26 Aug 2009 12:57:49 +0000

Myriad Genetics Inc. (NASDAQ: MYGN) is rising sharply this morning after earnings, or technically after it reported a smaller than forecast drop in profit. So far we have seen one upgrade: Canaccord raised its rating to BUY from HOLD. At 8:55 AM EST we have seen some 156,000 shares trade hands and the stock is up 10.3% at $28.55. -JON OGG

Price Gapper: Myriad Genetics (MYGN)

247admin — Tue, 04 Nov 2008 14:08:26 +0000

Myriad Genetics Inc. (NASDAQ: MYGN) announced this morning that the company beat earnings significantly with $0.30 EPS and $73.7 million in revenues. Thomson Reuters (First Call) estimates were $0.14 EPS and $70.4 million in revenues.

The biotech company also said it remains in strong financial condition with $443 million in cash and equivalents. Its market cap is $2.4 billion and it has no cash burn rates any longer as it is profitable.

What is interesting here is that as of 9:10 AM EST we have only seen 1,200 shares trade hands, but the gap-up indication put this stock up close to 6% around $66.50.

Jon Ogg

November 4, 2008

Pre-Market Price/Volume Spike: Myriad Genetics (MYGN)

247admin — Mon, 30 Jun 2008 12:13:31 +0000

Myriad Genetics (NASDAQ: MYGN) is seeing strong selling pressure in the pre-market hours this Monday. The culprit is that plans to discontinue the development of Alzheimer treatment Flurizan after its late-stage trial failed to meet endpoints.

The stock has recovered off of its lows as shares had briefly been down more than 10%. Shares are currently trading at $44.75, down 6.6% on 327,000 shares at 8:13 AM EST. Average daily volume is 886,000 shares, and we may already get past that before the 9:30 AM EST opening bell rings.

Its market cap was over $2.14 Billion before today’s price action and its 52-week trading range is $34.35 to $59.18.

Jon Ogg
June 30, 2008