In this report: Protalix BioTherapeutics (AMEX:PLX), THQ Inc. (NASDAQ:THQI) and Tesoro Corp. (NYSE:TSO).
Protalix BioTherapeutics (AMEX:PLX) sank 12 percent on Tuesday after the company announced that it received notification from the Food and Drug Administration has extended the PDUFA goal date of the new drug application for tallglucerase alfa to May 1st 2012, a 3 month extension from the previous PDUFA date. Protalix BioTherapeutics currently trades at $5.40 per share.
THQ Inc. (NASDAQ:THQI) has dropped by nearly 10 percent today after the company received a downgrade by analysts at Cowen. The firm dropped its rating on the video game publisher to ‘Neutral’ from ‘Outperform’ citing that the company appears likely to miss its expectations for the quarter ending this month as demand for its ‘uDraw’ will likely underperform. Doug Creutz said that he now expects the company to report a loss of 47 cents per share during the 2012 fiscal year, down from his previous expectations of a loss of 23 cents per share. For the 2013 fiscal year Mr. Creutz estimates the company will report a profit of 5 cents per share, down from his previous expectations of 49 cents per share.
Tesoro Corp. (NYSE:TSO) has dropped by more than 6.4 percent after the company received a downgrade by analysts at Credit Suisse. The firm cut its rating on Tesoro to ‘Neutral’ from ‘Outperform’ which led to the company’s drop to a price of $23.22 per share.
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