Forest Labs Board ACCUSED of Not Delivering and 3 Morning Hot Stocks Making Waves
Comcast (NASDAQ:CMCSA) answers Verizon’s (NYSE:VZ) speediest FiOS internet service with a high-end product of its own aimed at the “really advanced digital families” looking for the ultimate in internet bandwidth speeds. Comcast’s Xfinity service costs $299.95 a month and downloads at 305 mbps, faster than Verizon’s 300 mbps service costing $204.99 a month.
Shares of Ancestry.com (NASDAQ:ACOM) vault 19 percent on a NYT Dealbook report of an imminent sale of the genealogy website that would take it private; deal prices are in the mid-to-upper 30s, according to the article, though bidding is likely to close only around early August.
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Forest Labs (NYSE:FRX) receives a tough letter from Carl Icahn, accusing the Board of not delivering on its promises, considering that the guidance record on the company’s pipeline drugs is rather poor – there were 8 misses out of 11 occasions during the last four years. The company faces a bleak outlook with lost revenues from Lexapro unlikely to be made up and Namenda going off-patent from 2015.
Sample and assay technologies provider Qiagen (NASDAQ:QGEN) reported flat Q2 earnings as revenue growth was overtaken by higher expenses including costs relating to acquisitions. The company announces a share repurchase plan of up to $100 million and boosts its FY12 guidance for EPS from the earlier $1.03 – $1.05 to $1.04 – $1.06 and a growth in revenues from the earlier 6-8 percent to 8-9 percent.
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