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Acme Packet, Kodak, Progress Software, TiVo, Unilife: U.S. Equity Preview
2012-01-04 10:05:59

Standard & Poor’s 500 Index futures expiring in March rose 1 percent to 1,273.10.

Acme Packet Inc. (APKT) fell 18 percent to $26.24. The maker of devices to transmit phone calls and video reduced its 2011 adjusted earnings and sales forecast, citing uncertainty in the North American service provider market. Earnings excluding some items will be $1.03 to $1.05 a share, compared with an earlier estimate of as much as $1.18 a share.

Arena Pharmaceuticals Inc. (ARNA) gained 10 percent to $2.12. The San Diego-based biotechnology company refiled an application with the Food and Drug Administration, submitting new data and analyses in response to the FDA’s request for more information about its diet pill lorcaserin and cancer risk.

BioMimetic Therapeutics Inc. (BMTI) dropped 10 percent to $2.61. The orthopedic drug-device company failed to win approval from the Food and Drug Administration on its application for Augment Bone Graft. The company said it plans to submit an amendment by midyear that will include all requested information.

Eastman Kodak Co. (EK) : The unprofitable imaging company that tumbled 88 percent last year was notified by the New York Stock Exchange that it may be delisted because the shares are too low.

National Instruments Corp. (NATI) : The maker of industrial testing equipment reduced its fourth-quarter earnings and revenue forecast. Earnings will be as low as 19 cents a share, down from an earlier estimate of as much as 30 cents a share.

Progress Software Corp. (PRGS) : The software-development company said it sees first-quarter adjusted earnings of 25 cents a share, below analysts’ average estimate of 37 cents per share.

TiVo Inc. (TIVO) rose 12 percent to $10. The Dallas- based company settled a patent lawsuit over digital video recorders with AT&T Inc., which agreed to pay at least $215 million, TiVo said in a statement. AT&T also will pay monthly license fees if its subscriber base exceeds certain levels, TiVo said.

Unilife Corp. (UNIS) : The medical-device maker was rated a new “buy” at Jefferies Group Inc. with a price estimate of $7.

To contact the reporter on this story: Katia Porzecanski in New York at kporzecansk1@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net.

http://www.bloomberg.com/news/2012-01-03/acme-packet-kodak-progress-software-tivo-u-s-equity-preview.html





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