JPMorgan Chase & Co. (JPM: Quote) is rising 0.79 percent to $34.31. The company's second quarter profit declined from the year-ago quarter. Total net revenue decreased from the previous year period, but topped Wall Street view. The company also announced that it will restate its previously-filed interim financial statements for the first quarter of 2012.
Wells Fargo & Co. (WFC: Quote) is up 0.76 percent to $33.10. The company's second quarter profit improved from the previous year period. Total revenue improved from the year-ago quarter, but missed the consensus estimate.
Questcor Pharmaceuticals, Inc. (QCOR: Quote) is rising over 3 percent to $46.92.
ACADIA Pharmaceuticals Inc. (ACAD: Quote) is down over 7 percent to $1.64. The company announced that AM-831, a compound under development for schizophrenia in collaboration with Meiji Seika Pharma Co., Ltd., did not meet the pre-determined criteria for further development in Phase I testing. As a result, the parties jointly have decided to discontinue the development of AM-831.
iGATE Corp. (IGTE: Quote) is down 3 percent to $15.50. The company's second quarter profit improved from the comparable period last year. However, the company's adjusted earnings per share missed Wall Street view. Revenues surged 57.3 percent, but missed the consensus by a whisker.
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by RTT Staff Writer
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