TechMARK movers: Shire rises despite subpoena

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On 16:08 GMT, Friday 30 October 2009

LONDON (ShareCast) - Strong third quarter results from Shire (LSE: GB00B0KQX869.L - news) sent the shares of the drug maker higher.

Analysts at Panmure Gordon and Morgan Stanley (NYSE: MS - news) expected third quarter revenues of around $650m, so the $667m was better than expected even though it was 14% lower than the same time last year. Core (Berlin: LJ1.BE - news) product sales rose by one-fifth.

Third quarter operating income fell by one-quarter to $91.8m. Cash flow was lower than the same time last year because Adderall XR became a generic drug.

Even news that Shire has been subpoenad by the US authorities over its marketing of Adderall XR, Daytrana and Vyvanse, three drugs for attention deficit hyperactivity disorder, did little to upset the upward momentum. These three drugs account for nearly one-third of total revenues. Chief Executive Angus Russell says that these requests are increasingly routine for drug companies.

Newer drugs will reduce Shire's dependence on ADHD treatments.

Bluetooth and Global Position System chips maker CSR (LSE: CSR.L - news) continues to benefit from its positive figures yesterday and today's good news from semiconductor equipment maker ASM International NV which reported a lower loss. Rising chip demand is showing through in much better figures for the chip makers.

Third quarter revenues were higher than expected and the underlying operating profit was $22.2m. CSR said it expects to post fourth quarter revenue of between $180m and $200m. A new order for an integrated Bluetooth/WiFi product should begin shipping before the end of the year.

FTSE TechMARK - Risers Phytopharm (PYM) 18.25p +19.67% Skyepharma (LSE: SKP.L - news) (SKP) 86.00p +12.05% Shire Plc (SHP) 1,076.00p +5.08% Oxford Instruments (OXIG) 240.50p +4.11% CSR (CSR) 446.60p +3.28% Biocompatibles International (BII) 244.50p +3.16% Spirent Communications (LSE: SPT.L - news) (SPT) 91.35p +2.93% Kewill (KWL) 98.00p +2.62% Alphameric (LSE: ALM.L - news) (ALM) 30.75p +2.50% Asterand (ATD) 21.75p +2.35%

FTSE TechMARK - Fallers Puricore (PURI) 13.75p -3.51% AEA Technology (LSE: AAT.L - news) (AAT) 28.00p -3.45% Vectura Group (LSE: VEC.L - news) (VEC) 85.30p -2.96% KCOM Group (LSE: KCOM.L - news) (KCOM) 40.00p -1.84% RM Group (RM (LSE: RM.L - news) .) 147.50p -1.67% Vislink (Dublin: VSF.IR - news) (VLK) 24.50p -1.01% XP Power (LSE: XPP.L - news) (XPP) 306.50p -0.81% Wolfson Microelectronics (LSE: WLF.L - news) (WLF) 122.00p -0.81% Consort Medical (LSE: BPK.L - news) (CSRT) 405.00p -0.74% Sinclair Pharma (LSE: SPH.L - news) (SPH) 35.75p -0.69%

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