Trading for the Masses

After Hours

November 29, 2007 · No Comments

19:00 SCANX After Hours Summary: DELL down 9.7% on earnings/guidance; ABT up 1.5% (FDA advisory committee recommends approval of XIENCE V drug eluting stent system)

Companies moving in after hours trading in reaction to earnings: Trading Up: SEAC +20.9%; JCG +10.7; OVTI +5.6%; ANDE +3.1%; ZUMZ +1.9%; PRLS +1.4%… Trading Down: DELL -9.7%; MENT -5.4%; BRCD -3.5%; ESEA -2.2%; CATS -1.1%… Companies trading in after hours on news: Trading Up: ALO +5.7% (phase III pivotal clinical placebo-controlled trial of its abuse-deterrent, extended-release opioid demonstrates significant efficacy); ABT +1.4% (FDA advisory committee recommends approval of XIENCE V drug eluting stent system); ABH +1.2% (announces phase 1 of action plan to address company challenges)… Trading Down: LWAY -1.4% (announces full product line price increase); TRCI -0.9% (announces the election of Owen Farren as Chairman of the Board of Directors)
18:52 LECO Lincoln Electric announces joint venture with Zhengzhou Heli Welding Materials; no impact on earnings in yr 1 (68.18 -0.33)

Co announces that it has entered into a majority-owned joint venture with Zhengzhou Heli Welding Materials, a privately- held manufacturer of subarc flux based in Zhengzhou, China. The joint venture will manufacture subarc flux and subarc wire in Zhengzhou. Annual sales for Zhengzhou Heli are approximately $8 mln. Lincoln expects that the acquisition will not have a material impact on earnings in the first year.
18:25 ABT Abbott Labs FDA advisory committee recommends approval of XIENCE V drug eluting stent system (57.00 +0.5 8) -Update-

Co announces that the Circulatory System Devices Advisory Panel to the FDA recommended approval for the XIENCE V Everolimus Eluting Coronary Stent System. XIENCE V is a next-generation drug eluting stent intended for use in the treatment of coronary artery disease.
18:12 FCFC FirstCity Financial extends stock repurchase plan to August 31, 2008 (8.05 -0.06)

Co announces that it is extending its stock repurchase plan to August 31, 2008. The plan approved by the Board of Directors allows FirstCity to purchase up to 1 mln shares of FirstCity’s common stock.
18:10 ALB Albemarle to raise prices of Dibromomethane (42.90 +1.21)

Co will increase minimum delivered prices of dibromomethane by US$0.30/kg for full-container shipments, effective worldwide December 1, 2007, or as contracts allow. “This price increase is needed to cover higher costs, in particular higher raw material, transport and energy costs.”
18:02 PBY Pep Boys Director/General Partner of Barington Capital bought 400K shares at $11.27 (10.64 -0.87)

See 16:01 comment for additional insider buying in PBY
17:49 EQY Equity One bought 20,485 shares at $22.49-22.50 on 22/27 (23.12 -0.23)
17:39 MKTIN Market Internals

The Dow was up 0.17% to close at 13311, the Nasdaq was up 0.20% to close at 2668, and the S&P was up 0.05% to close at 1469. Leading sectors included: Healthcare Facilities +3.7%, Wireless Services 2.7%, Diversified Metals & Minerals +2.7%, Steel +2.7%, Tobacco +2.5%. Lagging sectors included: Real Estate Mgmt -4.2%, Drug Retail -3.2%, Department Stores -2.9%, Airlines -2.7%, Distilleries & Vineyards -2.6%. Today’s movement came from mixed volume (NYSE 1331 vs. 1478 avg, Nasdaq 2172 vs. 2170 avg), with advancers outpacing decliners (NYSE 2834/479, Nasdaq 2376/654) with new lows outpacing new highs (NYSE 142/50, Nasdaq 144/83)
17:38 JCG J. Crew Earnings Conference Call Summary (44.58 -0.34) -Update-

On call, co discusses sales and direct business continuing to exceed expectations (increased 36% to $90 mln). Direct business is the co’s most profitable segment and created incredible leverage last qtr (although that is not expected going forward). The components of direct business increase include a 25% increase in gross sales as compared to last year and an 11% increase due to lower return rates… Gross profit for Q3 increased 19% to $152 mln. Gross margin for the quarter was 45.6% (down 80 basis points from the reported Q3 last year). The decline in gross margin was driven by a 90 basis point decline in merchandise margin, partially offset by a 10 basis points in buying occupancy leverage… SG&A expenses for Q3 were 31.3% of total revs vs 34.4% last year driven in large part by higher than anticipated direct sales, while absorbing higher costs associated with funding Crew Cuts and Madwell and opening 29 new stores. Strong top line growth, coupled with solid SG&A leverage led to a 44% increase in operating income and 230 basis points of operating margin expansion… As for the Madwell stores, it cost $3 mln in the quarter and $10 mln for the year, which is about $1 mln higher than the range discussed in the past (but that’s primarily due to the opening of temporary store for holiday season).
17:31 DW Drew Industries announces stock buyback program of up to 1 mln shares (24.42 -1.89)
17:31 SHOR Shoretel withdraws registration statement on Form S-1 (14.61 +0.41)

Co announced that it filed an application with the SEC to withdraw its Registration Statement on Form S-1, Registration No. 333-147486, initially filed with the SEC on November 19, 2007. The co requested to withdraw its Registration Statement due to the unwillingness of the selling stockholder to sell shares under the current capital market conditions.
17:23 Mishkin says Fed should respond as credit market hurts demand– Bloomberg
17:21 BZH Beazer Homes delays 10-K filing (7.36 -0.20)

As previously disclosed in the co’s Current Report on Form 8-K dated October 5, 2007 and filed with the SEC on October 11, 2007, the Audit Committee of BZH determined that it will be necessary for the Company to restate its financial statements relating to fiscal years 2004 through 2006 and the interim periods of fiscal 2006 and fiscal 2007. As a result, the Company is delaying the filing of its Annual Report on Form 10-K for the fiscal year ended September 30, 2007 until it has completed the restatement process. The Company has also not yet filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2007. The Company is working expeditiously to complete the restatement process and file these reports as soon as practicable.
17:17 HRB H & R Block subsidiary drew a combined $75 mln under its $1 bln 5 yr credit and guarantee agreement - 8-K (19.31 +0.09)

In 8-K, “On November 23, 2007, Block Financial Corporation, a wholly owned subsidiary of HRB drew a combined $75 mln under its $1 bln 5-Year Credit and Guarantee Agreement dated August 10, 2005 and its $1 bln Amended and Restated Five-Year Credit and Guarantee Agreement dated August 10, 2005.”
17:10 MS Morgan Stanley announces mgmt changes, reiterated that its disclosures in early Nov reflect the full extent of the co’s direct subprime-related exposure (52.34 -1.16) -Update-

Co announced a number of management changes, effective December 1, 2007, including appointing:Walid A. Chammah and James P. Gorman as Co-Presidents of the Firm, working closely together across all aspects of Morgan Stanley’s business. Institutional Securities will report to Mr. Chammah and Wealth Management and Asset Management will report to Mr. Gorman. They will report to Chairman and Chief Executive Officer John J. Mack, and Mr. Chammah will continue to be based in London. In connection with these management changes, Co-President Zoe Cruz is retiring from the Firm after 25 years of service to Morgan Stanley. Morgan Stanley plans to announce its fourth quarter earnings during the week of December 17, 2007. Additionally, Morgan Stanley reiterated that its disclosures in early November reflect the full extent of the Firm’s direct subprime-related exposure, as of October 31, 2007. The co noted at that time that the actual impact on the firm’s fourth quarter financial results would fluctuate based on market conditions in November.
17:09 SEAC SeaChange beats by $0.13, beats on revs (5.54 -0.21)

Reports Q3 (Oct) earnings of $0.11 per share, $0.13 better than the First Call consensus of ($0.02); revenues rose 15.8% year/year to $49 mln vs the $45.2 mln consensus. “We are expecting to be profitable for the fourth quarter of this year based on continued order strength in VOD systems from North American service providers, operating expense containment and continued benefits from our second quarter cost reduction initiatives.”
17:07 SXI Standex Int’l announces resignation of CFO (20.11 )

Co announced that Christian Storch will resign effective December 13 as vice president, chief financial officer and treasurer to take a chief financial officer position with another publicly traded company closer to his home. Standex has retained a national executive recruiting firm and is moving aggressively to identify a new chief financial officer.
17:04 CCBG Capital City Bank announces increase to share repurchase program and majority voting in director elections (28.73 -0.76)

Co announced today that its Board of Directors has authorized an increase to its share repurchase program and an amendment to the co’s Bylaws to implement a majority voting standard for the election of directors. The Board of Directors of the Company has authorized the repurchase of an additional 500,000 shares of common stock under its previously authorized share repurchase program. This increase, together with previously available amounts, provides a total authorization of 2,671,875 shares to be repurchased. Since 2000, the Company has repurchased approximately 2,106,586 shares under this program.
17:03 FCSX FCStone corrects 10-K filing (41.80 -0.97) -Update-

Co announces it has filed its FY07 10-K with the SEC. The previously reported EPS of $1.30 was revised to $1.33 as a result of fewer diluted shares determined to be outstanding. Net income and Q4 EPS did not change.
17:02 ANDE Andersons guides above consensus (40.84 +0.00) -Update-

ANDE announced it it expects its full-year earnings per share to exceed previous projections. The current guidance range is for FY07 EPS of $3.40-3.60 (consensus is for $3.33), up from the previous guidance of $3.15-3.35 per diluted share estimated in October. Further income improvements in the Plant Nutrient Group and continued increases in our grain business and income from our investment in Lansing Trade Group have led to this unprecedented performance. “We are very excited about the way this year is shaping up for us, it is a tremendous performance by our team… There are many factors contributing to this outstanding year, which we detailed in our recent conference call. Also, as noted in the call, some of these items are unlikely to be repeated which may limit our ability to perform at this record level next year.” (Stock is halted)
17:01 CASH First Midwest Financial announces sale of MetaBank West Central for $8.3 mln (40.00 +0.02)

Co reported that it entered into agreements to sell its MetaBank West Central subsidiary. Anita Bancorporation (Iowa) will purchase the bank charter and all three MetaBank West Central offices located in Stuart, Casey, and Menlo, Iowa. This transaction is anticipated to close on or before March 30, 2008, subject to regulatory approval. The transaction will involve the sale of the stock of MetaBank West Central for approximately $8.3 mln, which is dependent on the satisfaction of routine contractual terms by the date of sale.
17:00 ANDE sees FY07 $3.40-3.60 vs $3.33 First Call consensus
17:00 ANDE Expects EPS to Exceed Previous Guidance
16:58 TECD Tech Data and ASCII Group for new partnership (37.86 +0.62)

The co announces a new partnership with the ASCII group. The partnership is designed to raise the visibility of Tech Data within ASCII’s paying community of members while providing ASCII members expanded opportunities with the distributor. ASCII also will educate its resellers in the United States about the new programs and improved customer support that Tech Data is providing its customers, especially in the lucrative SMB market. The ASCII membership purchases over $1 bln of product
16:52 NVLS Novellus: Details from ongoing mid-quarter update call (26.70 -0.23) -Update-

On co’s mid-qtr update, NVLS says overall Q4 guidance remains unchanged from previous guidance provided on 10/23. Says bookings remain forecasted at up 5-15% over the Q3. At this point they are trending closer to the high-end of the range given the current trends and orders which have been strong. Shipments are expected to be in the range of 365-390 mln are trending towards the middle of the guidance range. Revenues will range from $355-365 mln (consensus $362.4 mln) and are also trending towards the middle end of guidance. Gross margin is forecasted to be approximately 49%, same as forecasted earlier, and EPS on a FAS 123-R inclusive basis is expected to be $0.34-0.37 (consensus $0.36), trending towards the middle of the range… During Q&A, co is asked about MU lowering DRAM capex; co says that they did not here that report but hearing that MU is cutting back capex because DRAM pricing has cut back to such a low level; believes that the INTC/MU joint venture are investing heavily in flash at this moment.
16:48 CNI CN files shelf prospectus for $2.5 billion of debt securities (47.83 -0.99)
16:47 UVE Universal Insurance: Marty Steinberg discloses 11.1% stake in SC 13G (7.47 -0.002)
16:43 DELL Dell: On Q3 call, co says near term results could be negatively impacted by a slower decline in component costs (28.14 +0.45) -Update-
16:40 DELL Dell: On Q3 call, co says they continued to lose share in the qtr in the consumer segment (28.14 +0.45) -Update-
16:36 NVLS Novellus sees Q4 EPS of $0.34-0.37 vs $0.36 consensus (27.49 -0.23) -Update-
16:36 NVLS Novellus sees Q4 orders up 5-15% from Q3; sees orders towards high end of range - Bloomberg (26.70 -0.23) -Update-
16:35 FINL Finish Line: In its 8-K discloses a subpoena from the office of New York (3.52 +0.11)

In its 8-K the co discloses “that the co received a grand jury subpoena from the Office of the U.S. Attorney for Southern District of New York to produce on December 7, 2007, documents relating to the Merger (with Genesco). The co is not required to testify at the grand jury investigation if these documents are produced. The co is in the process of complying with the subpoena, and does not believe that the co or its executives are targets of the investigation.”
16:31 Fed’s Mishkin says core inflation ‘has been well-behaved’ - DJ
16:27 ANDE Andersons halted (40.84 +0.00)
16:25 OVTI OmniVision beats by $0.08, beats on revs; guides Q3 (Jan) above consensus (18.89 -0.10)

Reports Q2 (Oct) earnings of $0.51 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.43; revenues rose 69.0% year/year to $232.6 mln vs the $222.7 mln consensus. Co issues upside guidance for Q3 (Jan), sees EPS of $0.41-0.54, excluding non-recurring items, vs. $0.41 consensus; sees Q3 revs of $220-240 mln vs. $219.6 mln consensus.
16:24 VMW VMware: CSCO discloses unchanged 6 mln share stake in SC 13D/A (90.85 +3.16)

“In connection with a prior oral agreement pursuant to which VMware agreed to consider appointing a Cisco executive to its board of directors, VMware appointed Dennis D. Powell, Executive Vice President and Chief Financial Officer of Cisco, to its board of directors on November 8, 2007. Mr. Powell intends to retire as Executive Vice President and Chief Financial Officer of Cisco around mid-February 2008.”
16:24 NCIT NCI awarded $8.2 mln task order on ITES-2S contract (18.09 +0.21)

The co announces that it has been awarded a task order worth up to $8.2 mln, that has a base year plus two option years, through the U.S. Army’s Information Technology Enterprise Solutions-2 Servicescontract.
16:22 OVTI sees Q3 $0.41-0.54 vs $0.41 First Call consensus; sees revs $220-240 mln vs $219.6 mln First Call consensus
16:21 OVTI prelim $0.51 vs $0.43 First Call consensus; revs $232.6 mln vs $222.69 mln First Call consensus
16:21 ABT Abbott Labs Xience stent needs more safety study, FDA panel says- Bloomberg (57.00 +0.5 8) -Update-

Bloomberg is reporting ABT’s heart stent hasn’t been studied enough to ensure its safety beyond one year of use, a U.S advisory panel said. Outside experts for the FDA at a meeting today urged additional data to show the device, called Xience, doesn’t cause potentially fatal blood clots. The panel will vote later today on whether to recommend approval. The FDA generally follows the advice, but isn’t required to do so.
16:18 MENT Mentor Graphics misses by $0.04, misses on revs; guides FY08 EPS above consensus, revs above consensus; guides FY09 EPS above consensus, revs above consensus (12.90 +0.1 8)

Reports Q3 (Sep) net of breakeven, $0.04 worse than the First Call consensus of $0.04; revenues fell 2.3% year/year to $186.3 mln vs the $190.5 mln consensus. Co issues upside guidance for FY08, sees EPS of $1.02 vs. $0.98 consensus; sees FY08 revs of $860 mln vs. $855.78 mln consensus. Co issues upside guidance for FY09, sees EPS of $1.22 vs. $1.19 consensus; sees FY09 revs of $920 mln vs. $918.65 mln consensus.
16:17 MENT sees FY09 $1.22 vs $1.19 First Call consensus; sees revs $920 mln vs $918.65 mln First Call consensus
16:17 MENT sees FY08 $1.02 vs $0.98 First Call consensus; sees revs $860 mln vs $855.78 mln First Call consensus
16:16 MENT prelim $0.00 vs $0.04 First Call consensus; revs $186.31 mln vs $190.50 mln First Call consensus
16:14 BRCD Brocade in its 8-K discloses $500 mln share repurchase (7.74 +0.04) -Update-
16:13 ALO Alpharma’s phase III pivotal clinical placebo-controlled trial of its abuse-deterrent, extended-release opioid demonstrates significant efficacy (20.72 -0.0 8)

The co announces positive results from its Phase III double-blind, randomized, placebo-controlled pivotal efficacy trial for its abuse-deterrent, extended-release opioid, ALO-01. In this multi-center trial of over 500 patients, ALO-01 demonstrated significant pain relief (p < 0.05). This primary endpoint was agreed to by the FDA via the Special Protocol Assessment process.
16:13 DELL Dell reports EPS in-line, beats on revs (28.14 +0.45)

Reports Q3 (Oct) earnings of $0.35 per share, excluding $0.03 in charges and a $0.02 gain, in-line with the First Call consensus of $0.35; revenues rose 8.5% year/year to $15.65 bln vs the $15.35 bln consensus.
16:12 BGP Borders Group 10% owner Pershing Square bought 522K shares at $12.03-12.13 on 11/26-11/27 (12.21 -0.2 8)
16:11 DELL prelim $0.35, ex items vs $0.35 First Call consensus
16:10 BRCD Brocade beats by $0.04, reports revs in-line (7.74 +0.04)

Reports Q4 (Oct) earnings of $0.17 per share, $0.04 better than the First Call consensus of $0.13; revenues rose 62.8% year/year to $340 mln vs the $341.5 mln consensus. “We are very pleased with our Q4 results. Brocade continues to execute exceptionally well and we have further strengthened both our profitability and business fundamentals. During fiscal year 2007, we continued to drive the key growth initiatives that will keep us at the forefront of the evolving data center market.”
16:09 TRCI Technology Research announces the election of Owen Farren as Chairman of the Board of Directors (3.67 +0.06)
16:08 DELL prelim $0.34 vs $0.35 First Call consensus; revs $15.65 bln vs $15.35 bln First Call consensus
16:08 BKR Michael Baker: Chairman and CEO Richard Shaw Undergoes Surgery; Murray and Mallory to Assume His Duties During Six-Week Recovery (34.99 +0.01)

The co announces that Richard Shaw, the company’s chairman of the board and CEO, has undergone successful surgery to replace a heart valve. The co expects him to make a full recovery and to return to normal duty in approximately six weeks. In his absence, Shaw’s chairman duties will be assumed by Dr. John Murray, vice chairman of the Board of Directors, and his CEO responsibilities will be assumed by Brad Mallory in his current role of COO of the co.
16:08 PRLS Peerless Systems reports Q3 EPS of $0.07 vs $0.09 single analyst estimate; revs fell 7.5% YoY to $7.4 mln (vs $8.10 mln single analyst est) (2.14 +0.03)
16:07 ESEA Euroseas reports Q3 EPS of $0.39 vs $0.36 consensus, revs rose 143% YoY to $21.4 mln vs $19.96 mln consensus (14.62 +0.67)
16:06 LWAY Lifeway Foods announces full product line price increase (10.39 +0.37)

The co announces today that it will implement a price increase of approximately 10-15% on it’s full catalog of products. This price increase will go into effect in December 2007. Given the current environment of historically high raw material prices as well as other rising costs, a price increase was necessary.
16:06 BRCD prelim $0.17 vs $0.13 First Call consensus; revs $340 mln vs $341.45 mln First Call consensus
16:05 JCG J. Crew beats by $0.06, beats on revs; guides FY08 EPS above consensus (40.30 )

Reports Q3 (Oct) earnings of $0.42 per share, $0.06 better than the First Call consensus of $0.36; revenues rose 20.7% year/year to $332.7 mln vs the $312.3 mln consensus. Co issues upside guidance for FY08, sees EPS of $1.50-1.52 vs. $1.46 consensus.
16:04 ZUMZ Zumiez reports EPS in-line, revs in-line; guides FY08 EPS in-line (27.00 -1.47)

Reports Q3 (Oct) earnings of $0.28 per share, in-line with the First Call consensus of $0.28; revenues rose 26.4% year/year to $104.0 mln vs the $103.8 mln consensus. Co issues in-line guidance for FY08, sees EPS of $0.92-0.94 vs. $0.94 consensus.
16:04 NHPI Neuro-Hitech announces that it has entered into an agreement to sell 1.25 mln shares (4.20 +0.06)

Co announces that it has entered into an agreement to sell 1.25 mln shares of its common stock and warrants to purchase 625,000 shares of its common stock for $5.0 mln in a private offering. The exercise price of the warrants will be $7.00 per share unless the warrants are exercised prior to the later of (i) April 30, 2008 or (ii) thirty days after a registration statement registering the shares of common stock underlying the warrants is declared effective by the SEC, in which case the exercise price will be $5.00 per share.
16:04 DLIA Delia*s misses by $0.05, misses on revs (2.88 -0.14)

Reports Q3 (Oct) net of breakeven, $0.05 worse than the First Call consensus of $0.05; revenues rose 5.5% year/year to $71.2 mln vs the $73.7 mln consensus. “Following a strong start to the back-to-school season, sales trends softened in September and October as mall traffic slowed dramatically and warm weather negatively affected sales, forcing us to be more promotional. On the direct side of our business, sales were up, notwithstanding our planned circulation cuts.” Mr. Bernard continued, “Our focus on improving our merchandise and store execution has resulted in an improved holiday assortment and sales trend to date.”
16:02 JCG sees FY08 $1.50-1.52 vs $1.46 First Call consensus, prior guidance $1.42-1.46
16:02 CATS Catalyst Semiconductor reports Q2 EPS of $0.06 vs $0.06 two analyst est, revs rose 27% YoY to $20.7 mln vs $20.9 mln two analyst est (5.89 +0.15)
16:02 JCG prelim $0.42 vs $0.36 First Call consensus; revs $332.7 mln vs $312.32 mln First Call consensus
16:02 LDG Longs Drug reports Nov same store sales of -0.6% vs +0.5% single analyst est (54.01 -0.80)
16:01 ZUMZ sees FY08 $0.92-0.94 vs $0.94 First Call consensus
16:01 PBY Pep Boys: 5 Directors bought 99K shares in filings disclosed after the close (10.64 -0.87)

Purchases were made at average prices ranging from $11.00-11.73 on 11/29
16:01 UNFI Utd Nat Foods announces increase in revolving credit facility to $400 mln (28.00 +0.07)
16:01 ZUMZ prelim $0.28 vs $0.28 First Call consensus; revs $104.0 mln vs $103.80 mln First Call consensus
16:01 ABH AbitibiBowater announces phase 1 of action plan to address company challenges (18.77 +1.49)

The co announces it will reduce its newsprint and commercial printing papers production capacity by approximately 1 million metric tons per year during the first quarter of 2008…the co also announced that it has raised its targeted synergies stemming from the merger to $375 mln… as part of the action plan unveiled today, AbitibiBowater is reaching out to both unionized and salaried employees to contribute to cost-reduction initiatives. The co is asking its Canadian union partners to reopen current labor agreements and explore ways to reduce overall labor costs and provide enhanced flexibility in the workplace… overall, the co is targeting $500 mln from asset sales… the co estimates it will incur cash closure costs of approximately $100 mln related to severance and other closure charges as a result of these actions. Approximately $30 mln of these closure costs will not impact AbitibiBowater earnings and will be recorded as liabilities in the purchase price allocation of its subsidiary, Abitibi-Consolidated, as they relate to facilities owned by Abitibi-Consolidated. In addition, the co estimates it will incur an after-tax asset impairment charge of approximately $110-$130 million in the fourth quarter related to Bowater Incorporated assets. An additional estimated $230-$270 mln after-tax impairment charge related to assets owned by Abitibi-Consolidated is not expected to impact consolidated fourth quarter AbitibiBowater earnings as it will be eliminated by the fair value adjustments recorded in the purchase price allocation.”
16:01 SHPGY Shire Pharm announces that Biological Psychiatry publishes study showing VYVANSE demonstrated significant efficacy for treatment of ADHD for up to 12 hours after administration (70.50 -0.64)

Co announces that that Biological Psychiatry published the results of a study showing Vyvanse, the first prodrug stimulant for the treatment of Attention Deficit Hyperactivity Disorder, provided significant efficacy in children for up to 12 hours. The published study also found that Vyvanse demonstrated low interpatient variability of measured pharmacokinetic parameters, as reported by the coefficient of variance (%CV). Patients in the study taking Vyvance also demonstrated significant improvement in math problems attempted as compared to placebo, as measured by the Permanent Product Measure of Performance (PERMP) Derived Measures. The majority of adverse events reported in this study were mild to moderate in severity. “This newly published research shows that VYVANSE provided a consistent time to maximum plasma concentration from patient to patient,” said Ann Childress, President of the Center for Psychiatry and Behavioral Medicine.
16:00 DLIA prelim $0.00 vs $0.05 First Call consensus; revs $71.23 mln vs $73.69 mln First Call consensus

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