Pre-market: Traffic up at Pinnacle Airlines
Shares of Pinnacle Airlines Corp. (Nasdaq: PNCL) are lower despite news after Thursday’s close that the Memphis, Tenn.-based operator of Pinnacle Airlines and Colgan Air reported a 10.2% increase in customers for the month of May, compared with a year earlier. Shares are down $0.41, or 2%, to $18.88.
Aliso Viejo, Calif.-based AVANIR Pharmaceuticals (Nasdaq: AVNR) reported this morning that data from a Phase III clinical trial of the painkiller Zenvia shows the drug significantly eases the suffering of patients complaining of Diabetic Peripheral Neuropathic Pain. The stock has added $0.06, or 2%, to $3.48.
Shares of Acorda Therapeutics, Inc. (Nasdaq: ACOR) are sagging on news this morning that the Hawthorne, N.Y.-based company has entered into an underwriting agreement relating to the sale of 3.75 million shares of its common stock at $18.50 per share. The stock has lost $1.20, or 6%, to $18.95.
Shares of Novatel Wireless, Inc. (Nasdaq: NVTL) are flat even though the San Diego-based provider of wireless broadband access solutions said this morning that its raising its guidance for the second quarter ending June 30. The company now expects revenues of $95 million and net income of between $0.29 per share and $0.31 per share. That’s above analysts’ expectations. Shares are up $0.04, or 0.16%, to $24.47.
