Diamonds and Dogs
4/4/14
Synnex Corp. (SNX)Synnex Corp is outpacing the overall market significantly today, up 23.26% at $76.94. The business process outsourcing company saw its shares skyrocket after beating earnings estimates. Synnex said revenue climbed 22.8% year over year to $3.02 billion in the three months to Feb. 28. The results exceeded analyst estimates by $260.11 million.Net income of $1.25 a share was 31 cents higher than forecasts. Management said it expects revenue between $3.1 billion and $3.2 billion for its second quarter ending May. Adjusted net income is expected in the range of $1.34 and $1.38 a share. Shares of the company reached a new 52-week high of $79.44 intraday.
Halozyme Therapeutics Inc. (HALO)
Halozyme shares got crushed today, down 27.26% at $8.43. Shares of the biotech company went down after news that the company halted a trial for its experimental pancreatic cancer drug amid concerns from a third- party review committee. The committee raised concerns about the thromboembolic event rate -- or the likeliness that blood clots could form, which could cause a stroke. The halt in the trials scared off investors causing shares to fall more than $3.00, however shares are still well above their 52-week low of $5.03.
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