Company News for December 7, 2011

Zacks

•    Retailer and distributor of automobile parts Autozone (NYSE:AZO) posted Q1 EPS of $4.68 per share. Revenues for the quarter increased 7.4% year-over-year to come in at  $1.90 billion

•    Debt-riddled oil-tanker owner Frontline Ltd (NYSE:FRO) said it will reshape itself in a deal involving a large commitment from one of its major stake holders Hemen Holding Ltd. Following the announcement,  share prices of the company gained 18.64%

•    A regulatory filing revealed that shareholder Handy & Harman Ltd. purchased 498,000 shares of ModusLink Global Solutions Inc.(NASDAQ:MLNK) on December 1. Following this development, share prices of the supply-chain company rose 13.26% to $5.04 a share

•    Peregrine Pharmaceuticals Inc.’s (NASDAQ:PPHM) share prices surged 21.02% to close at $1.21 after the developer and manufacturer of antibodies announced positive results from an initial trial of its tumor treatment

•    Operator of the Olive garden chain of restaurants Darden Restaurants Inc.’s (NYSE:DRI) shares slumped 12.38% to close at $41.82 after the company lowered its earnings and sales outlook for fiscal 2012

•    Shares of bio-pharma company Protalix BioTherapeutics, Inc. (AMEX:PLX) fell 12.92% after the FDA delayed its decision on the company's Gaucher disease protein

•    Alpha Natural Resources Inc's. (NYSE:ANR) shares declined 1.15% after the company agreed to disburse more than $200 million which will help the company avoid being sued over a mine disaster in 2010 that killed 29 men

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