NEW YORK (CNN/Money) -
Bradley Pharmaceutical shares dropped nearly 19 percent Thursday after the drug company filed a lawsuit for patent infringement against Aventis.
Shares of Estee Lauder jumped more than 11 percent after the make-up producer reported a 23 percent gain in quarterly earnings.
Thursday's losers
Bradley Pharmaceutical (BPRX: down $2.93 to $13.30, Research, Estimates). The drug company's shares fell after it filed a lawsuit against Aventis (AVE: down $0.09 to $50.54, Research, Estimates) claiming its Vanamide skin cream would violate three patents on Bradley's Carmol 40 ointment.
Foundry Networks (FDRY: down $1.30 to $8.35, Research, Estimates). The network equipment maker said it would not forecast first-quarter results and also allegedly may have written-off inventory and then resold it, Salomon Smith Barney told Reuters.
American Woodmark (AMWD: down $7.34 to $34.82, Research, Estimates). The cabinet and vanities maker lowered its third-quarter sales growth guidance and earnings forecast citing weaker-than-anticipated demand in the remodeling sector.
Newport (NEWP: down $1.10 to $11.50, Research, Estimates). The chip equipment maker posted a fourth-quarter loss, attributed to a downturn in the semiconductor and fiber optic communications markets.
AOL Time Warner (AOL: down $1.88 to $12.08, Research, Estimates). The media conglomerate announced a $44.9 billion net loss for the fourth quarter of 2002 after a charge for the shrinking value of the America Online unit. The fourth-quarter shortfall brought the loss to $99 billion for the full year. Ted Turner, vice chairman of the company, also announced his resignation. AOL Time Warner is the parent company of CNN/Money.
Thursday's winners
Estee Lauder (EL: up $3.04 to $29.46, Research, Estimates). The makeup company posted a 23 percent jump in second-quarter earnings citing strong demand for its skin-care products and makeup brands including Clinique and Bobbi Brown.
MemberWorks (MBRS: up $2.21 to $16.80, Research, Estimates). The designer of membership programs for health-care, entertainment and other service companies, posted a profit in its fiscal second-quarter, from a loss in the year-ago period.
Flowers Foods (FLO: up $5.80 to $22.88, Research, Estimates). The company posted a fourth-quarter loss than was narrower than beat Wall Street expectations by 7 cents a share. The food maker also said it would sell its Mrs. Smith's dessert unit to privately held Schwan Foods for $ 240 million in cash.
Affymetrix (AFFX: up $3.68 to $25.48, Research, Estimates). Roche licensed the company's GeneChip technology, giving it exclusive rights for up to 18 years, for $70 million. Salomon Smith Barney upgraded the company to "outperform" from "in-line" and increased its price target to $28 a share from $23.
MedImmune (MEDI: up $2.23 to $30.13, Research, Estimates). The drug company forecast first-quarter earnings of 40 cents a share to 43 cents, compared with Wall Street's consensus estimate of 40 cents, despite posting lower fourth-quarter profits.
Elan (ELN: up $0.77 to $4.74, Research, Estimates). The drug company said it would sell its primary care business to competitor King Pharmaceuticals (KG: Research, Estimates) for $850 million.
AutoZone (AZO: up $3.42 to $64.62, Research, Estimates). Lehman Brothers upgraded the auto supply company to "overweight" after it guided higher.
-- from staff and wire reports
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