Given Imaging Ltd. (NASDAQ: GIVN) shares fell 11.65% to $16.08 in the early hour after the company said it is ending its previously announced exploration of a possible sale or merger transaction as part of its evaluation of strategic options in order to maximize growth and enhance shareholder value. According to the executive committee of the Board of Directors appointed to oversee the process, the continued execution of the company's operating plan, supplemented by additional acquisitions and alliances, provides the best opportunity at this time to enhance value for all of its shareholders.
Body Central Corp (NASDAQ: BODY) shares declined 13.08% to $8.44. The company is using Avery Dennison's Pathfinder(R) markdown solution to increase margins and help enhance the customer experience by improving markdown accuracy.
Additionally, the company announced sales results for the fourth quarter and fiscal year ended December 29, 2012 and lowered guidance for fourth quarter 2012 results. Net revenues for the quarter increased 0.4% to $81.0 million, compared to $80.7 million for the fourth quarter of 2011.
Lululemon Athletica inc. (NASDAQ: LULU) stock dropped 7.43% to $ 67.01 after the company announced that it now anticipates fourth quarter revenue will be at the high end of its original guidance range of $475 million to $480 million. The Company now expects diluted EPS will be $0.74, compared to previous guidance of 0.71 to $0.73.
Telik, Inc. (NASDAQ: TELK) shares dropped 11.12% and closed at $2. The company, on Jan. 11, said that it was notified that its product candidate, ezatiostat HCL (Telintra), has been granted orphan drug designation by the US Food and Drug Administration (FDA) for the treatment of myelodysplastic syndrome (MDS). Orphan designation grants potential US market exclusivity to a drug for the treatment of a specified condition for a period of seven years following FDA marketing approval.
SAP AG (ADR) (NYSE: SAP) stock gained 0.12% to $81.88 after the company disclosed preliminary results for the fourth quarter that disappointed the Street. For the quarter, total revenue on a non-IFRS basis was 5.06 billion Euros, up 12% from a year ago, or 11% in constant currency. Street consensus was for 5.12 billion. Operating profit was 1.96 billion Euros, up 10%, or 9% in constant currency, and a little below consensus at 2 billion.
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