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The Nasdaq Now: Travelzoo Is Grounded by Earnings Warning


NPS Pharmaceuticals and LinnCo were up on the day.

MINYANVILLE ORIGINAL US equities moved up in early morning trading before giving up their gains later in the day, with investors staying cautious even though consumer sentiment hit an unexpected five-year high in October.

The Nasdaq Composite (INDEXNASDAQ:.IXIC) was down 0.16% to 3,044.67points on average trading volume of 687.91 million as of 12:00 p.m. EDT.

NPS Pharmaceuticals (NASDAQ:NPSP) was one of the leading Nasdaq gainers, surging 15.55% to $10.55. Investors appear to be confident that NPS will get approval from the Food and Drug Administration for its drug, Gattex, which treats the disabling disease known as short bowel syndrome.

LinnCo (NASDAQ:LNCO), which made its initial public offering a day ago priced at $36.50 per share, rose 2.77% to $37.51. The company was formed to help partner Line Energy (NASDAQ:LINE) secure more institutional investors.

AEterna Zentaris (NASDAQ:AEZS) was one of the biggest decliners, falling 23.08% to $2.40. Late Thursday the company announced an offering of common shares and warrants.

After issuing a warning that its third quarter earnings and revenue were likely to fall below expectations, Travelzoo (NASDAQ:TZOO) sank 14.51% to $20.09. The Internet travel company expects sales of $35 million to $35.5 million and earnings per share of $0.20 to $0.22, when the consensus estimate had been $38.9 million in revenue and $0.27 in earnings per share.

OCZ Technology Group (NASDAQ:OCZ) fell 16.67% to $1.55. The company is now facing a slew of lawsuits claiming that the solid state drive maker violated SEC rules by making misleading statements about its financial results in recent months.

Twitter: @sterlingwong
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