Stern does little for Sirius
- From: "ComeBackKid" <CbK@xxxxxxx>
- Date: Tue, 27 Dec 2005 10:59:09 -0500
Premarket Movers: Sirius Subscribers Jump
Tuesday December 27, 9:18 am ET
Sirius Jumps on Subscriber News; Bristol-Myers Rises on FDA Approval
NEW YORK (AP) -- Overstock.com Inc. shares fell sharply before Tuesday's
market open, after the online closeout retailer reported
weaker-than-expected sales for the fourth quarter.
Overstock.com shares slid $3.24, or 9.6 percent, to $30.40 on the INET
electronic exchange. The company also said its full-year net income would
come in slightly lower than expected, weighed by marketing expenses for the
holiday season.
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Sirius Satellite Radio Inc. shares rose in premarket activity, after the
satellite radio provider said its subscribers topped the 3 million mark.
Shares of Sirius added 30 cents, or 4.3 percent, to $7.13 on INET, where it
was the most actively traded issue. The company also said it expects a
"strong year-end."
Neopharm Inc. shares rallied, after the biotechnology company said an
independent committee recommended a trial involving a prospective drug to
treat brain cancer continue as planned.
Neopharm shares jumped $3.55, or 44.7 percent, to $11.50 on INET. The
company also said it was "cautiously optimistic" for a positive final
outcome of the clinical trial.
Bristol-Myers Squibb Co. shares jumped $1.18, or 5.1 percent, to $24.12,
after the drug maker said it won approval from federal regulators to market
a new drug to treat rheumatoid arthritis.
The Food and Drug Administration gave approval to the drug, Orencia, which
Bristol-Myers plans to start selling in February, the company said in a
statement issued late Friday.
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