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King Pharmaceuticals posted a monthly rise of 31%, sparked by favorable second-quarter results
The generic-drug maker posted earnings of 44 cents per share, exceeding the Street estimate by 24 cents. The key drivers during the quarter were Altace, Skelaxin and Sonata. Standard & Poor's Equity Research raised the target price on King to $13 from $10 and maintained a "hold" rating on the stock.
The research firm said it expects a bleaker outlook for King in 2006, "as Sonata has been impaired by rival insomnia drugs, and prospects for Altace and Skelaxin appear clouded by generic threats."
Shares of Autodesk (nasdaq: ADSK - news - people ) moved higher in August, thanks to an upside second-quarter earnings report on Aug. 18. The software maker easily beat forecasts for both earnings and sales and issued rosy 2006 guidance. Piper Jaffray raised the target price on the stock to $46 from $42, citing the prolonged life cycle of AutoCAD 2002.
Autodesk has increased the timing of the end of life of AutoCAD 2002 from January to March, according to Piper. AutoCAD's end of life will now be aligned with the annual new AutoCAD releases, which ship at the end of March. "This increases confidence in our numbers, because Autodesk now has two additional months to mine the massive AutoCAD 2002 installed base for upgrades and new seats," Piper said. The firm reiterated an "outperform" rating on the stock, which rose 26% in August.