Pre-market: Sigma Designs raises Q1 profit
Sigma Designs, Inc. (Nasdaq: SIGM) raised its net income for the quarter ended May 5 to $8.5 million, or $0.32 per share, compared with a net income of $0.09 million, or $0.00 per share, during the same three months of 2006, the Milpitas, Calif.-based designer of video-oriented product solutions said after Monday’s close. That beat analysts’ projected earnings of $0.27 per share. The stock is up $0.45, or 2%, to $29.08.
Shares of Feldman Mall Properties, Inc. (NYSE: FMP) are flat following news this morning that the Great Neck, N.Y.-based renovator of regional shopping malls is considering strategic alternatives, which may include selling the company. The stock is at $11.38.
Canada’s Oncolytics Biotech Inc. (Nasdaq: ONCY) announced after Monday’s close that a Phase I clinical trial of the cancer drug REOLYSIN showed that it produced anti-tumor activity and is safe and well-tolerated even in multiple doses. Still, shares are down $0.06, or 3%, to $2.08.
Shares of kitchen cabinet maker American Woodmark Corp. (Nasdaq: AMWD) are in negative territory following news this morning that the Winchester, Va.-based company’s fourth quarter net income dropped to $6.18 million, or $0.40 per share, compared with a net income of $13.5 million, or $0.83 per share, in the prior year. Wall Street was looking for earnings of $0.48 per share. The stock climbed $0.67, or 2%, to $37.92.
Lawrence, Mass.-based NxStage Medical, Inc. (Nasdaq: NXTM) will acquire Medisystems Corp. for 6.5 million shares of NxStage common stock, the manufacturer of portable kidney dialysis machines announced after Monday’s close. The transaction is valued at $78.7 million. Shares are up $0.02, or 0.17%, to $12.11.
Shares of EntreMed, Inc. (Nasdaq: ENMD) are lower despite news this morning that a Duke University study showed that the Rockville, Md.-based pharmaceutical company’s cancer drug Panzem was well-tolerated and showed modest activity as a single agent. Shares are down $0.14, or 8%, to $1.75.
