Last week Gabelli Utility Trust (NYSE:GUT) said they are reviewing the monthly cash distribution amount for future periods. Shares are lower today by 14.5%.
On ten times average daily volume, shares of Kronos Worldwide (NYSE:KRO) are down 7.6%.
Late Friday, the FDA rejected a fibromyalgia treatment from Jazz Pharmaceuticals (NASDAQ:JAZZ).
The drug contains a chemical that is also contained in a date rape drug, and the FDA was concerned the drug could be misused.
Jazz shares are lower by 23.25%.
On light volume, shares of Kemet Corporation (NYSE:KEM) are drifting lower, down 7.3%.
Cenveo (CVO) provided an update on National Envelope today. They said that despite offering the unsecured creditors what they believed to be the highest potential recovery out of all the bids at the auction, it became clear to them that the debtors and the creditors' committee were requiring significantly more in cash and guarantees from Cenveo than from the other bidders and seeking to saddle Cenveo with unacceptable risk that no other bidders were being asked to bear. Under the circumstances, Cenveo says they have no interest in acquiring the assets.
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