In this report: Treehouse Foods (NYSE:THS), Cognet Communications Group (NASDAQ:CCOI) and Achillion Pharmaceuticals (NASDAQ:ACHN).
Treehouse Foods (NYSE:THS) is trading over 11 percent lower today after the company released a weaker than expected forecast for the fourth quarter as unseasonably warm weather led to a drop in sales during December. The company said that it now expects adjusted earnings to range from 84 cents to 87 cents per share, below the $1.07 per share that Wall Street are expecting. Treehouse Foods went on to lower its adjusted earnings outlook for the full year. It now expects earnings of $2.70 to $2.73 per share, lowered from its previously outlook of $2.90 to $3 per share. Analysts had predicted earnings to hit $2.94 per share for the 2012 fiscal year.
Cognet Communications Group (NASDAQ:CCOI) shares have dropped by more than 15 percent today after the U.S. government shut down one of its customers and its offices were search by the Federal Bureau of Investigation. Megaupload.com shut down by the government on Friday and its founders as well as several of its employees have been charged with copyright infringement. The website leases around 36 servers from Cognet in both the U.S. and France. The FBI conducted a search of Cognet’s computer systems located at its Washington DC headquarters.
Achillion Pharmaceuticals (NASDAQ:ACHN) is trading over 13 percent lower today on concerns over the company’s hepatitis C drug. Investment website Seeking Alpha said that Achillion was at a disadvantage because its does not have any hepatitis drugs in development were nucleosides. The article led to a sell-off in the company’s stock today. Achillion Pharmaceuticals currently trades at $9.15 per share.
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