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PharmAthene, Inc. (NYSEAMEX:PIP) announced that the Delaware Court of Chancery has reached its final judgement in PharmAthene’s litigation against SIGA Technologies (NASDAQ:SIGA). The court upholds its ruling from September 22, 2011 and awarded PharmAthene 50% of the net profits from every SIGA smallpox antiviral therapeutic, ST-246, and other products. This is after SIGA receives its first $40M in net profits, and it will last a period of then years.
Shares of PharmAthene, Inc. are trading 37.7% higher today.
Modine Manufacturing Co. (NYSE:MOD) sees year-over-year sales fall 5%-10%, which includes approximately $80M in planned program reductions, and consensus is at $1.61B. Modine Manufacturing’s FQ4 EPS of $0.34 beats by $0.11, and revenue, down 2% year over year) misses by $18M.
Shares of Modine Manufacturing Co. are trading 4.94% lower today.
Vera Bradley, Inc. (NASDAQ:VRA): Due to Vera Bradley’s slowing sales and lack of margin expansion after Q1 results, Jeffries downgraded Vera Bradly and dropped its price target for shares from $45 to $25. Citigroup also downgraded the company and dropped its price target for shares from $48 to $24 due to little near-term upside for shares.
Shares of Vera Bradley, Inc. are trading 7.45% lower today.
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