Thursday, April 7, 2011

Hot Stocks Of The Day: XNPT, NEM, ZAGG, COST, IMGN

Below we highlight few companies whose shares are actively trading in Thursday's session.

XenoPort, Inc. (NASDAQ: XNPT) soared more than 60% on Thursday, a day after the drugmaker and its partner GlaxoSmithKline (NYSE: GSK) announced Wednesday that the U.S. Food and Drug Administration has approved Horizant Extended-Release Tablets for the treatment of moderate-to-severe primary Restless Legs Syndrome in adults. It is the first medication in its class to be approved for the treatment of moderate-to-severe primary Restless Legs Syndrome.

Newmont Mining Corporation (NYSE: NEM) rallied more than 3% after the company said that it will discuss today at its annual Investor Day conference the comprehensive plan for the development of its current global portfolio of assets that would increase annual gold production to approximately 7 million ounces by 2017. This production target represents a potential aggregate increase of approximately 35% in anticipated 2017 annual production from the Company's previously announced 2011 attributable gold production outlook of 5.1 to 5.3 million ounces. The Company also announced a new dividend policy that will link its quarterly dividend payment to Newmont's average realized price of gold sales.

ZAGG (NASDAQ: ZAGG) rose more than 2% after the company announced that it has signed an exclusive master license and distribution agreement with Logitech (NASDAQ: LOGI) for ZAGG’s tablet computer accessory, the ZAGGmate case with keyboard. Under the terms of the agreement, Logitech will manufacture and distribute the ZAGGmate case with keyboard, ZAGG’s tablet computer accessory, to their worldwide distribution channels, under the name Logitech Keyboard Case. Logitech products are distributed in over 100 countries worldwide through retail channels. ZAGG will retain the right to sell the ZAGGmate for both first and second generation iPad products on its website.

Costco Wholesale Corp., (NASDAQ: COST) jumped more than 3% after the company reported that its same-store sales rose 13% in March as net sales rose 17% to $8.33 billion from $7.15 billion in the year-earlier month. The same-store sales for March reflected increases of 11% in the U.S. and 17% internationally, Costco said in a Thursday statement. Excluding higher gasoline prices and stronger foreign currencies against the dollar, same-store sales rose 8%. Analysts, on average, expected  produced consensus estimates of same-store sales up 7.4% overall and up 5.5% adjusted. 

Immunogen Inc. (NASDAQ: IMGN) surged as much as 25% after the drug developer announced positive results from a mid-stage study of its breast-cancer treatment.

Full Disclosure: None. 
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