Stock Movers of Note: March 14, 2005

Strategic Insights -

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