SAN FRANCISCO (MarketWatch) -- Alkermes Inc. shares gained more than 5% in
heavy volume during Wednesday's late session after the U.S. Food and Drug
Administration signaled initial approval for the company's drug to treat
alcoholism, while Multi-Fine Electronix Inc. stock surged after the company
raised its earnings outlook.
The Nasdaq-100 After Hours Indicator, which tracks the evening action of
the index's leading shares, was last up 0.47 points to 1,667.57.
Alkermes shares climbed to $18.60 and were the second most heavily
traded, according to iNet Data Services. Alkermes and Cephalon Inc. said that
the FDA has issued an approvable letter for Vivitrol, which is under review
for the treatment of alcohol dependence.
Cephalon shares fell 0.5% to $64.32.
Multi-Fineline Electronix shares surged more than 13% to $43.99 after the
company raised its fiscal first-quarter earnings forecast to a range of $15
million to $17.5 million. The Anaheim, Calif.-based printed circuit company
had previously forecast earnings of $11 million to $12.4 million.
Innovative Solutions & Support Inc. climbed 3% to $12.18 after the
company said that it has authorized a stock repurchase program of up to 2
million shares. The authorization will remain in effect until June 30, 2006,
the Exton, Pa.-based maker of avionic electronic products added.
Jasmina Kelemen is a MarketWatch reporter based in San Francisco.
This MarketWatch news update is provided to you courtesy of Thomson
Financial. The information herein is believed to be true and accurate. We take
no responsibility for inaccurate information and reserve the right to update
our reports. If you have any questions please e-mail James Sang at
james.sang@thomson.com or call 646.822.6233. For more information about
Thomson Financial visit us at http://www.thomson.com/financial.
SOURCE Thomson Financial Corporate Group
back to top
