Depomed Inc. (DEPO) gained 7.5 percent to $7.2. The drugmaker said it will get “modest, single-digit royalties” on net product sales of Merck & Co.’s (MRK US) type 2 diabetes Janumet XR until the expiration of the licensed patents.
General Motors Co. (GM) rose 1.2 percent to $26.50. The automaker is likely to report net income in 2011 was $8 billion when it reports earnings on Feb. 16, the Wall Street Journal reported, citing unidentified people who have seen the figures. That compares with the average analyst estimate of $7.8 billion, according to data compiled by Bloomberg.
Hasbro Inc. (HAS) declined 5.5 percent to $33.89. The world’s second-biggest toymaker reported fourth-quarter revenue of $1.33 billion, falling short of the average analyst estimate of $1.34 billion.
Micron Technology Inc. (MU) fell 2.6 percent to $7.74. Steve Appleton, the memory-chip industry’s longest-serving chief executive officer, died after crashing an experimental plane in Boise, Idaho. Chief Operating Officer Mark Durcan will assume the CEO’s responsibilities until a successor is chosen.
Riverbed Technology Inc. (RVBD) rose 2.3 percent to $26.51. The maker of computer-networking products was raised to “outperform” from “sector perform” at Pacific Crest Securities Inc.
Sohu.com Inc. (SOHU) fell 13 percent to $55. The owner of China’s third-biggest search-engine posted an unexpected 39 percent decline in profit as the company incurred a charge from acquisitions, eroding higher advertising and games sales.
SureWest Communications (SURW) rallied 9.1 percent to $17.01. Consolidated Communications Holdings Inc. (CNSL US) is agreed to buy the operator of an integrated network of communications products for $23 a share.
TiVo Inc. (TIVO) climbed 6.9 percent to $12. The digital-video recording pioneer may rise to $18 or higher as patent-lawsuit settlements boost income and its digital- recording technology attracts takeover bids, Barron’s reported.
Weyerhaeuser Co. (WY) declined 2.2 percent to $20.84. The U.S. lumber producer and home builder was cut to “sell” from “neutral” at UBS AG.
Zogenix Inc. (ZGNX) retreated 10 percent to $2.45. The specialty pharmaceutical company filed a plan to sell as much as $75 million of securities. Proceeds will be used to help fund the commercialization of its Sumavel DosePro and Zohydro drugs and develop new product candidates.
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