PVH Corp. (PVH: Quote) advanced more than 4 percent to $92.30. The company's second quarter profit increased from the year-ago quarter and its non-GAAP earnings per share topped Wall Street view. The company currently projects third quarter revenue to decrease 2 percent to 3 percent, and expects non-GAAP earnings per share in-line with analysts' estimate. Meanwhile, the company raised its full-year non-GAAP earnings forecast.
DepoMed Inc. (DEPO: Quote) gained over 6 percent to $5.44 based on the news that Janssen Pharmaceuticals, Inc., has licensed rights to Acuform gastric retentive drug delivery technology. Depomed will receive an upfront payment of $10 million and a low single digit royalty on net sales of NUCYNTA ER in the U.S., Canada and Japan from and after July 2, 2012 through December 31, 2021.
Molycorp, Inc. (MCP: Quote) gained over 5 percent to $10.04. The company announced the start-up of its new Project Phoenix heavy rare earth concentrate facilities at Mountain Pass, California. The company also stated that it remain on track to achieve full Phase 1 production rates at Mountain Pass in the fourth quarter of this year.
Sally Beauty Holdings Inc. (SBH: Quote) rose 1 percent to $27.62 The company announced the retirement of three members of board, James Berges, Kenneth Giuriceo and Richard Schnall, in connection with the exit of CD&R's investment in the company. The company's board elected Gary Winterhalter to replace Berges as the Chairman of the board. The company also announced its plan to repurchase up to $300 million of common stock over an 18-month period beginning October 1, 2012.
Research Frontiers Inc. (REFR: Quote) fell nearly 2 percent to $2.80. The company announced that it has commenced an underwritten public offering of its common stock and warrants to buy common stock. The company currently intends to use the net proceeds from the offering for working capital and general corporate purposes.
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by RTT Staff Writer
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