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Monday, May 14, 2012

Friday's NASDAQ Winners: ARNA, OREX, JST, INTX

New York, NY - May 14, 2012 - www.InvestorIdeas.com, a global investor research portal for independent investors, reports on top percentage gainers on the NASDAQ for Friday, May 11. The Nasdaq Composite ended flat at 2,933.82.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) shares jumped 73.77% after the company announced that the Endocrinologic and Metabolic Drugs Advisory Committee of the FDA voted 18 to 4 that the potential benefits of lorcaserin outweigh the potential risks when used long-term in a population of overweight and obese individuals.
Orexigen Therapeutics, Inc. (NASDAQ:OREX) climbed 19.10% to close at $3.99 on an unusual volume of 5.64 million shares after the company said it is on schedule to start a clinical trial for its diet drug Contrave and also said it completed Phase 2 clinical trials evaluating its other weight loss drug, Empatic.
Additionally, the company posted a first quarter loss of $10.4 million, or $0.16 a share, as compared with a year-earlier loss of $11.6 million, or $0.24 a share. Revenue shrank 53% to $857,000.
Jinpan International Limited (NASDAQ:JST) added 15.39% to close at $8.62 after the company announced first quarter net sales of $42.8 million, a 43.1% increase from $29.9 million in the same period last year. Net income for the first quarter increased 44.6% to $4.0 million, or $0.24 per diluted share, as compared to $2.7 million, or $0.17 per diluted share, in the same period last year.
Looking forward, the company expects fiscal 2012 net sales growth of 20%-25% to $262-$273 million and net income growth of approximately 17%-22% to $27.8-$29.0 million. Analysts on an average are expecting the company to report revenue of $267 million and net income of $28 million for fiscal 2012.
Intersections Inc. (NASDAQ:INTX) ended higher by 13.87% at end at $12.89. On May 10, 2012, the company posted first quarter revenue of $90.2 million, as compared to $90.4 million for the quarter ended March 31, 2011. Net income for the quarter was $6.2 million, as compared to $4.6 million for the same quarter last year.
In addition, as previously announced on April 26, 2012, the company's Board of Directors declared an ordinary cash dividend of $0.20 per share of common stock payable on June 8, 2012 to shareholders of record as of May 29, 2012.
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