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New York, NY -- (SBWIRE) -- 12/13/2012 -- Charles River Laboratories (NYSE:CRL) had its price target trimmed by the ISI Group in $39.00. The analysts wrote, “As a result of today’s 2013 guidance announcement, we are lowering CRL’s FY13 EPS from $3.10 to $3.00 and FY14 EPS from $3.45 to $3.25. These EPS changes stem from lower operating margin expectations due to the aforementioned investment headwinds. Despite the improved revenue outlook, limited visibility across the business (ex strategic deals) and a challenged OM outlook will limit P/E expansion, and in turn, cap shares in the upper $30s.”
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Cobalt International Energy, Inc. (NYSE:CIE) shares dropped 8.52% to $25.11. The company said it will sell $1.2 billion in convertible senior notes due in 2019. The company said the underwriters of the sale will have an option to buy another $180 million in notes. The notes mature Dec. 1, 2019. The company said it will use the proceeds to fund capital expenditures and for general corporate purposes.
Additionally, the company announced a significant oil discovery at its North Platte prospect on Garden Banks Block 959 in the deepwater Gulf of Mexico. Based on extensive wire-line evaluation, the discovery well encountered several hundred feet of net oil pay in multiple Inboard Lower Tertiary sands.
How Should Investors Trade CIE After The Recent Volatile Moves? Find Out Here
Majesco Entertainment Co. (NASDAQ:COOL) shares climbed 29.04% to $1.15. The company shared the life-changing results of the ‘Zumba Health and health and fitness Hurry 90 Day Task.’ With a combined losing weight of 79 pounds in only three months, Hurry Task finalists Shad and Daisy have demonstrated that the Zumba Health and health and fitness games are engaging and effective tools that can help anyone reach their personal goals.
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ZIOPHARM Oncology (NASDAQ:ZIOP) was downgraded by analysts at Jefferies Group from a buy rating to a hold rating. They currently have $4.00 price target on the stock, down from their previous price target of $7.00. The analysts wrote, “ZIOP’s lead drug palifosfamide Ph3 data for mSTS is expected in end-1Q13 (vs. YE12 previously). Experts discussions indicate ~40-50% probability for ~3-month PFS benefit; even with ~3-mo PFS benefit, experts view <50% probability of meeting OS endpoint. Additionally, experts view OS benefit likely needed for FDA approval, contrary to ZIOP.
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