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- Essex Property Trust (ESS) +2.2% AH on news it will replace Cliffs Natural Resources (CLF) in the S&P 500 after the close of trading April 1.
- CLF will move down to the S&P MidCap 400, replacing ESS.
- FEI Co. (FEIC) will replace BRE Properties (BRE), which is being acquired by Essex, in the MidCap 400, and Fabrinet (FN) will replace FEI in the S&P SmallCap 600.
- Also, Albany Molecular Research (AMRI) will replace Supertex (SUPX), which is being acquired, in the SmallCap 600.
- AMRI +4.2%, FEIC +2%, FN +1.5%, CLF -1.3% AH.
Dec. 3, 2013, 10:18 AM
- Albany Molecular Research (AMRI -10%) slides hard in morning trading.
- Sterne Agee has cut the shares to Neutral from Buy.
- Price target is now $12 (from $15).
- Here's analyst Greg Bolan: "As we have written multiple times, we believe CRO valuations are expensive and therefore have a difficult time seeing AMRI generate a strong return through acquisition(s)."
Aug. 12, 2013, 2:00 PM
- Albany Molecular Research (AMRI -13.2%) plunges after an SEC filing shows Bristol-Myers (BMY -1.4%) has terminated the development of the triple reuptake inhibitor BMS-820836.
- According to BMY, the investigational drug failed to show superiority over duloxetine or escitalopram in a Phase II study for Treatment Resistant Depression.
- AMRI says the news will have "no impact on [its] financial guidance or forecasts." (8-K)
Jun. 12, 2013, 2:44 PM
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Feb. 12, 2013, 12:45 PM
Feb. 12, 2013, 12:20 PMAlbany Molecular Research (AMRI +18%) surges after its FQ3 easily blows out estimates this morning. Contract revenue was $59.1M, up 50% from the prior-year period with sequential revenue improvement in Discovery and Large Scale Manufacturing services. Contract margin jumped to 18% from 2% in the prior-year period. The company also forecast an upbeat Q4, now expecting an EPS of $0.08 - $0.12, better than the Street view of $0.06. | Comment!
Jan. 22, 2013, 12:45 PM
Nov. 6, 2012, 10:30 AMAlbany Molecular Research (AMRI +11%) pops after beating on its Q3 bottom line this morning. Total sales were up 11.2% Y/Y on stronger royalty and contract revenues, particularly in its large-scale manufacturing segment. The company also boosts its outlook for FY12 as well as Q4. It now sees FY12 earnings coming in between $0.10 and $0.16 per share, towards the top-end of the Street's $0.12 consensus, and for Q4, its EPS is targeted to be $0.08 to $0.12, also better than the Street view of $0.06. | Comment!
Feb. 7, 2012, 8:15 AM
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