Kodiak Oil & Gas Corp (USA)(NYSE: KOG) says its net oil and gas sales averaged ~22K boe/day during the last two weeks of November. Several of the recent well completions occurred in late Nov.-early Dec., and thus did not materially contribute to stated November oil and gas sales averages. UBS starts coverage of KOG with a Buy rating. Shares of the company are up 4.78%.
In its conference call on the purchase of Mcmoran Exploration Co(NYSE: MMR) and Plains Exploration & Production Company(NYSE: PXP), Freeport McMoRan's (FCX -13.5%) Richard Adkerson says the deal is an add-on to its mining business and not a diversion from current strategy, and FCX will continue to look for new mining opportunities. With margins and cash flows strong, FCX anticipates continuing its current dividend.
After closing near its 52-week low yesterday, AeroVironment, Inc.(NASDAQ: AVAV) is up 15% in response to a solid FQ2 beat, which it attributed to a favorable mix and cost savings in addition to strong demand. FY13 guidance is for revenue of $348M-$370M and EPS of $1.41-$1.51, in-line with a consensus of $353.6M and $1.44 and calming investors worried about order push-outs. During the earnings call, management talked up the potential use of AeroVironment's unmanned aircraft in non-military applications, and noted the FAA is developing the necessary rules.
Mylan Inc.(NASDAQ: MYL) says its subsidiary, Mylan Pharmaceuticals, has received final FDA approval for its Abbreviated New Drug Application for Candesartan Cilexetil and Hydrochlorothiazide Tablets, the generic version of AstraZeneca's (AZN) Atacand HCT, which is indicated indicated for the treatment of hypertension. Mylan will begin shipping all approved strengths immediately.
Vical Incorporated(NASDAQ: VICL) says it's inked a worldwide, nonexclusive license of its patented Vaxfectin adjuvant to Cyvax, a privately held vaccine development company, for use in malaria vaccines. Financial terms of the agreement were not disclosed.
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