Monday, August 07, 2006

Shares of medical-aesthetics company Syneron (ELOS) were jumping 15.6% to $21.39 after the company reported earnings and reiterated its guidance. Syneron's quarterly revenue reached $27.5 million, up 37% from a year ago and was a record high. Overall, the company earned $8.9 million, or 32 cents a share, including stock-based compensation expenses.

Excluding charges, the company earned $11.3 million, or 41 cents a share, in the quarter, up 22% from last year. Analysts were expecting the company to earn 39 cents a share. The company said it was on track to meet its previously announced guidance, which in February called for revenue of between $113 million and $120 million for the full year.

Among other health care stocks on the move were pharmaceutical company NitroMed (NTMD) , which was gaining 14.1% to $2.91, drug developer Taro Pharmaceutical Industries (TARO) , up 7.7% to $12.81, biotech ICAgen (ICGN) , higher by 7.1% to $1.20, and Spectrum Pharmaceuticals (SPPI) , up 3.4% to $3.68.

Accentia Biopharmaceuticals (ABPI) was down 1.6% to $3.03, Ivax Diagnostics (IVD) fell 8.2% to $1.56, Oscient Pharmaceuticals (OSCI) was down 6% to $1.25, Nyer Medical Group (NYER) lost 9.7% to $2.80, Alpharma (ALO) was down 6.6% to $21.65, and Rigel Pharmaceuticals (RIGL) was losing 3.8% to $9.20.

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