Diamonds and Dogs
Abiomed Inc. (ABMD)
Abiomed is having a great day today, up 18.10% to $72.55. The biotech company saw its shares rally after new that the FDA approved one of the company's devices. Abiomed management announced today that the FDA approved their heart pump, Impella 2.5, which had been approved in 2008 but had to be reclassified and thus re-approved. Abiomed has estimated the PCI market at 50,000 patients, with another 100,000 possible patients for emergency uses such as heart failure. Shares of the company climbed over $11.00 today a hit a new 52-week high of $74.70 intraday.
Sonus Networks Inc. (SONS)
Sonus Networks is getting crushed today, down 33.59% to $8.74. The networked communications company saw its shares tank after cutting outlook. For the quarter, Sonus expects a loss of $0.29-0.34 per share; analysts were expecting a profit of $0.03 per share. The company guided first quarter revenue of $47 million to $50 million, down from its prior outlook for $74 million, and far below Wall Street's $71.2 million target. Sonus also said that it "no longer expects to receive certain orders this quarter that had been expected," Shares of the company fell nearly $4.50 today and hit a new 52-week low of $8.69.