In this report: WebMD Health Corp. (NASDAQ:WBMD), Helca Mining Company (NYSE:HL) and Questcor Pharmaceuticals (NASDAQ:QCOR).
WebMD Health Corp. (NASDAQ:WBMD) shares continued to trade lower on Wednesday after the company received a downgrade by analysts at Morgan Stanley and Wells Fargo. The company tanked by more than 28 percent yesterday after the company announced that CEO Wayne Gattinella resigned and that it expects earnings to drop this year. Anthony Vuolo, the company’s current CFO, will serve as interim CEO until the company finds a permanent replacement for Mr. Gattinella. WebMD also stated that it expects 2012 revenue to fall by 2 to 8 percent due to some patent losses that will hurt revenue as products will now be open to generic competition. The news led Morgan Stanley to cut its rating on the company to ‘Underperform’ from ‘Equal Weight’ and Wells Fargo to lower its rating to ‘Sector Perform’ from ‘Outperform’. WebMD Health currently trades at $26.05 per share.
Helca Mining Company (NYSE:HL) shares have tanked by more than 22 percent today after the company cut its 2012 silver production outlook. The company also announced that the Mine Safety and Health Administration had ordered it to close a shaft at its Lucky Friday silver mine and that it does not expect production to resume at that min until early 2013. The mine has been closed due to removal of built-up material. The Helca said that it now expects silver production to total 7 million ounces, down from the 9.5 million ounces it had previously predicted. Helca Mining Company currently trades at $4.51 per share.
Questcor Pharmaceuticals (NASDAQ:QCOR) is trading over 11 percent lower today after The Street Sweeper released a blog questioning the company’s marketing practices. Despite that though the company later had its price target at Carls lifted to $55 from $46 a share with the recommendation to buy the stock on weakness. The analyst stated that there is no change in the company’s thesis and that fundamentals remain the same. Carls currently hold a ‘Buy’ rating on Questcor.
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