This morning, GenVec (GNVC) announced a new agreement with Novartis (NYSE:NVS) to supply development services for clinical trials. The agreement is related to the companies' joint efforts in hearing loss and balance disorders and could bring GenVec $13 million in revenue over the next four years. Shares of GenVec were higher on the news, gaining more than 15%.
Shares of PerkinElmer (NYSE:PKI) soared today after the company announced strong second quarter earnings. The company said profits came in at 38 cents per share, topping Wall Street estimates, and top line numbers also beat the consensus. Further fueling shares on Friday was the company's guidance which it raised to the range of $1.49 to $1.54 per share. So far today, shares of PKI were higher by 11.8%.
Assured Guaranty (NYSE:AGO) also reported strong earnings today. The company said it earned $1.02 per share in the second quarter, easily beating the consensus estimates of 70 cents per share. Also impressing analysts was the stronger than expect revenue with came in at $428.1 million. Shares of Assured Guaranty soared on the news, gaining more than 12.6% so far.
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