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SIGA-AFTERHOURS=$213 Million Department of Defense Contract
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[QUOTE]Originally posted by Leslie C: [QB] Aftermarket Mover: PMC Slides on Warning Monday September 25, 5:29 pm ET PMC Sierra Shares Fall After Sales Shortfall Warning; AngioDynamics Shares Climb After Strong 1Q Results NEW YORK (AP) -- Telecom and networking semiconductor company PMC-Sierra Inc. saw its shares recede in after-hours electronic trading Monday after it warned of lower than expected revenue for the third quarter. ADVERTISEMENT click here PMC said it expects sales for the quarter to range from $114 million to $116 million, down from the second quarter and below the company's previous outlook of $122 million to $124 million. Analysts, on average, were looking for sales of $123.2 million, according to a poll by Thomson Financial. The company said demand was lower for its communications products, and added that, thanks to cost-cutting measures, it also expects its operating expenses to be lower than its prior forecast. The Santa Clara, Calif.-based company's shares fell 68 cents, or nearly 10.4 percent, to $5.87 in after-hours trading on the INET electronic exchange. The stock closed up 8 cents at $6.55 on the Nasdaq. [b]Vaccine developer Siga Technologies Inc., meanwhile, saw its stock nearly double after privately held PharmAthene Inc., which is in the process of acquiring a majority stake in Siga, received a large Department of Defense contract. PharmAthene, of Annapolis, Md., said it received a multiyear contract worth up to $213 million for the development of Protexia, a "pre- and post-exposure therapy for casualties on the battlefield or civilian victims of nerve agent attacks," as described on the company's Web site. New York-based Siga's shares rose 93 cents, or 88 percent, to $1.99 in after-hours trading, having closed up a penny at $1.06 on the Nasdaq.[/b] Shares of medical device maker AngioDynamics Inc. also climbed, after the company said its fiscal first-quarter profit jumped 47 percent as sales of its drainage catheters and other products climbed. The results beat analyst expectations, and the Queensbury, N.Y. company's shares rose 90 cents, or 4.7 percent, to $20.15 on INET, after closing up 60 cents, or 3.2 percent, at $19.25 in the regular trading session on the Nasdaq. Also on the medical front, Arena Pharmaceuticals Inc.'s shares slid 86 cents, or 7 percent, to $11.39 on INET after the drug developer said its development partner Merck & Co. Inc. stopped work on a potential atherosclerosis treatment, citing results from a mid-stage study. San Diego-based Arena's shares closed up 3 cents at $12.25 in the regular trading session on the Nasdaq. Merck shares dipped a penny to $41.95 on INET, from their New York Stock Exchange close at $41.96. [/QB][/QUOTE]
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