Big Lots Soars to New 2 Year High on Q1 Results; MannKind Corp. Waits for PDUFA Date

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Big Lots Soars to New 2 Year High on Q1 Results; MannKind Corp. Waits for PDUFA Date

Big Lots Inc. (NYSE: BIG) shares closed up 13.14% on nearly 7 million shares traded on Friday. The stock was one of the biggest advancers and hit a new 2 year high of $43.20 during intra-day trading. The company reported better-than-expected first-quarter results and boosted its outlook for the year. The company’s revenue climbed up 1 percent to $1.28 billion from $1.27 billion, beating the $1.26 billion analysts had expected. For the full year, Big Lots expects earnings between $2.35 and $2.50 per share, up from its previous expectations between $2.25 and $2.45 per share. Analysts expect earnings of $2.39 for the year.

Big Lots, Inc., through its subsidiaries, operates as a broadline closeout retailer in the United States. The company offers products under various merchandising categories, such as food category that includes beverage and grocery, candy and snacks, and specialty foods departments; consumables category, which comprises health and beauty, plastics, paper, chemical, and pet departments; soft home category that consists of fashion bedding, utility bedding, bath, window, decorative textile, and flooring departments; hard home category, including small appliances, table top, food preparation, stationery, greeting cards, tools, paint, and home maintenance departments; and furniture and home décor category consisting of upholstery, mattress, ready-to-assemble, case goods, home décor, and frames departments.

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MannKind Corp. (NASDAQ: MNKD) shares closed up about 4% on about 21.5 million shares traded. The stock was one of the most active stocks on the NASDAQ this past Friday. The stock even hit a new yearly high of $9.46 during intra-day trading. There was no significant news but the company is waiting for its PDUFA date, coming in July.

MannKind Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic products for diabetes and cancer in the United States. Its lead product candidate is AFREZZA inhalation powder, an insulin that is in late-stage clinical investigation for the treatment of adults with type 1 or type 2 diabetes for the control of hyperglycemia.

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