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Oshkosh Corp

Oshkosh Corp

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stocks traded higher Wednesday as the Dow Jones Industrial Average gained 1.1% to 8538, the Standard & Poor's 500 climbed 1% to 928 and the Nasdaq Composite rose 1% to 1853.

Among the companies whose shares are actively trading in the session are CardioNet Inc.

(BEAT), Oshkosh Corp.

(OSK) and Force Protection Inc.

(FRPT).

Shares of CardioNet ($10.06, -$6.26, -38.36%) dropped a day after the maker of outpatient monitoring devices slashed its 2009 earnings forecasts because of lower-than-expected reimbursement rates and slower-than-expected volume growth.

The U.S.

Defense Department awarded a $1.06 billion contract to Oshkosh ($18.26, +$3.72, +25.58%) to build armored patrol trucks for U.S.

troops in Afghanistan.

The Wisconsin-based maker of fire trucks and other specialty trucks will initially build 2,244 all-terrain trucks.

Analysts say the order volume could eventually total more than 5,000 trucks, based on the money available for the vehicles.

Military-vehicles maker Force Protection ($5.76, -$3.08, -34.84%), whose joint venture with General Dynamics Corp.

(GD, $55.98, +$0.59, +1.07%) failed to land the truck pact from the government expects "relatively soft" operating profit for the second quarter but a "stronger" rest of the year.

Navistar International Corp.

(NAV, $43.27, -$0.33, -0.76%) and BAE Systems PLC (BAESY, $22.25, -$0.20, -0.89%) also were competing for the production contract.

Spartan Motors Inc.

(SPAR, $8.12, -$3.21, -28.33%), meanwhile, traded lower as it had strong relationships with Force Daynamics - the joint venture between Force Protection and General Dynamics - and BAE.

Investors had pushed up Spartan in recent months on anticipation it would be the supplier if one of those companies won the contract.

Dougherty cut its stock-investment rating on the company to neutral from buy.

Myriad Genetics Inc.

(MYGN, $27.00, -$8.65, -24.26%) said it expected its total molecular diagnostic revenue to rise 33% in the fiscal fourth-quarter, but lowered its full-year view for the figure, due to the impact of the recession.

At least three firms cut their stock-investment ratings on the company following the news.

Lindsay Corp.'s (LNN, $36.45, +$3.35, +10.12%) fiscal third-quarter earnings fell 62% amid weak demand by farmers for irrigation systems, though results still beat Wall Street's expectations.

Immersion Corp.

(IMMR, $3.89, -$1.05, -21.19%) said its board audit committee is conducting an internal investigation into some previous revenue transactions in its medical business.

The company, which makes technology to provide "touch-feedback" vibrations in game controllers, also said it intends to file its fiscal second-quarter report on time, but it might have to delay the filing as a result of the investigation.

Repros Therapeutics Inc.

(RPRX, $5.76, -$1.43, -19.89%) said it is discontinuing use of its higher, 50mg dose of endometriosis treatment Proellex in studies in women with chronic symptomatic uterine fibroids and anemia associated with the condition.

The company cited a dose-dependent increase in liver enzymes in a low percentage of the women.

Repros added that discontinuation of the higher dose will most likely improve drug's benefit/risk profile.

To support efficacy of lower doses - 12.5mg and 25mg - the company will start additional placebo controlled studies with 12.5mg dose, though it doesn't expect those studies to affect regulatory timing.

Other Stocks In Focus: AMAG Pharmaceutical Inc.

(AMAG, $56.16, +$1.49, +2.73%) received an oft-delayed marketing approval for its Feraheme anemia treatment, clearing the way for the biopharmaceutical company to get the product on shelves in the U.S.

during the second half of July.

Shares of insurer American International Group Inc.

(AIG, $21.10, -$2.10, -9.05%) fell a day after the ailing insurer's shareholders approved a 1-for-20 reverse stock split.

Brewing giant Anheuser-Busch InBev (ABI.BT) Wednesday said it will sell three beverage can manufacturing plants and a metal lid plant to Ball Corporation (BLL, $48.34, +$3.18, +7.04%) for $577 million in cash.

Ball will continue supplying metal cans to AB InBev under a long-term supply contract as part of the deal, AB InBev said.

Biopharmaceutical companies Biogen Idec Inc.

(BIIB, $46.03, +$0.88, +1.95%) and Acorda Therapeutics Inc.

(ACOR, $25.83, -$2.36, -8.37%) reached an exclusive collaboration and license agreement to develop and commercialize Acorda's multiple-sclerosis therapy outside the U.S.

Analysts said Acorda shares fell because the deal makes the company a less attractive takeover target.

CombinatoRX Inc.

(CRXX, $0.94, +$0.14, +17.49%) agreed to acquire privately held Neuromed Pharmaceuticals Inc.

for $28.8 million in stock, a deal which would give current CombinatioRX holders just half of the combined company's voting power.

Still, CombinatoRX shares surged as the company has been looking for a new course since October, when its shares lost three-quarters of their value after CombinatoRx's anti-inflammatory drug failed to show it was measurably better than placebo in relieving knee pain caused when walking.

Constellation Brands Inc.'s (STZ, $13.90, +$1.22, +9.62%) fiscal first-quarter earnings plunged 85% on restructuring costs while wine sales posted another drop.

Even though the company - the biggest global wine maker by volume - has been considered recession resistant, it hasn't necessarily been recession proof.

The company has cut jobs and said earlier this month it would revamp its international operations amid weakness at its U.K.

and Australian businesses.

General Mills Inc.'s (GIS, $57.96, +$1.94, +3.46%) fourth-quarter profit exceeded Wall Street's forecast and the cereal maker hiked its guidance for the coming fiscal year, citing moderating raw material prices and internal efforts to cut costs.

Royal Caribbean Cruises Ltd.

(RCL, $14.16, +$0.62, +4.58%) expanded its offering of six-year senior notes by 20% to $300 million as the cruise-line operator aims to use the proceeds to repay its revolving credit facility.

Pacific Continental Corp.

(PCBK, $10.74, -$1.39, -11.46%) increased its loan-loan provision as a result of continuing weakness in the Pacific Northwest residential real estate markets.

The bank expects to report a loss of 70 cents a share for the second quarter, while analysts polled by Thomson Reuters were expecting earnings of 23 cents.

Sealy Corp.

(ZZ, $1.82, -$0.14, -7.14%) swung to a fiscal second-quarter loss as revenue tumbled and the bedding company recorded an $11.9 million refinancing charge, but margins improved.

Shares fell following the results, even as adjusted earnings came in above Wall Street expectations.

Synnex Corp.'s (SNX, $27.16, +$2.17, +8.68%) fiscal second-quarter earnings rose 3.9%, again defying a revenue decline and the recession as the company expanded margins.

The information-technology distributor also forecast third-quarter earnings and revenue above Wall Street expectations amid signs of a stabilizing marketplace.

UniFirst Corp.'s (UNF, $39.29, +$2.12, +5.70%) fiscal third-quarter profit surprisingly rose 28% as cost cuts, including lower energy prices, continued to lift core laundry operating margins at the provider of uniforms and protective clothing for industrial workers.

-By Dow Jones Newswires, write to [email protected]

http://online.wsj.com/article/BT-CO-20090701-707876.html
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