European Rejection Expected for Qsiva
Vivus disclosed that it expects European officials to recommend against approving its Qsiva obesity drug. That's sending VVUS lower by 11 percent before the bell on my tradeMONSTER platform.
Michael Kors Raises Guidance Amid Strong Sales
Michael Kors raised its guidance for the second quarter ending next Saturday as comparable-store sales surge 45 percent. Management cited "strong momentum," with its products "resonating globally." It now expects to earn $1.39 to $1.41 a share, compared with an earlier estimate of $1.32 to $1.34. KORS advances 3 percent.
FDA Moves Lifts Halozyme and ViroPharma
ViroPharma and Halozyme Therapeutics announced that the Food & Drug Administration will allow continued trials of Cinryze in combination with rHuPH20, concluding that prior safety concerns have been addressed. HALO rallies 29 percent on the news, while VPHM is up by 5 percent.
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