Stock Movers of Note: March 14, 2005
Avocent Corporation led the downward trend in the stock market, with its shares plummeting 27.34% after lowering its Q1 revenue guidance. La Jolla Pharmaceutical Company's shares also fell significantly, 20.83%, due to Riquent's uncertain chances of receiving an accelerated approval from the FDA. On the other hand, Ascential Software's shares surged 16.62% after being acquired by IBM for $1.1 billion, and Ivanhoe Energy Inc. saw its shares rise 13.40% following the successful completion of performance testing at Ensyn Petroleum International Ltd.'s oil commercial demonstration facility.
Key Takeaways:
- Avocent Corporation's shares dropped 27.34% after lowering its Q1 revenue guidance.
- La Jolla Pharmaceutical Company's shares fell 20.83% due to Riquent's uncertain chances of FDA approval.
- Ascential Software's shares increased 16.62% after being acquired by IBM for $1.1 billion.
- Ivanhoe Energy Inc.'s shares rose 13.40% following the successful performance testing at Ensyn Petroleum International Ltd.'s oil commercial demonstration facility.
- Axonyx Inc. saw its shares decline 16.04% after a clinical trial showed disappointing results.
- The US stock market experienced significant fluctuations on March 14, 2005, with several stocks experiencing dramatic price changes.
Statistics:
- Avocent Corporation's share price dropped by 27.34%.
- La Jolla Pharmaceutical Company's share price fell by 20.83%.
- Ascential Software's share price increased by 16.62%.
- Ivanhoe Energy Inc.'s share price rose by 13.40%.
- Axonyx Inc.'s share price declined by 16.04%.
Sources:
- StreetInsider.com
- Avocent Corporation (NASDAQ: AVCT)
- La Jolla Pharmaceutical Company (Nasdaq: LJPC)
- Ascential Software (Nasdaq: ASCL)
- IBM (NYSE: IBM)
- Axonyx Inc. (NASDAQ: AXYX)
- Ivanhoe Energy Inc. (NASDAQ: IVAN)
- Ensyn Petroleum International Ltd.
- FDA
- M2 PressWIRE
- StreetInsider.com Premium