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Why Horizon Pharma, Och-Ziff Capital Management, and Clovis Oncology Slumped Today

Image: Och-Ziff.

Tuesday was a strong day for the stock market, and the primary reason was positive movement in the energy markets. Crude oil prices rose almost $2 per barrel, moving above $42 and carrying a huge swath of energy stocks along with it. In general, major market benchmarks climbed higher by around 1%, and many sectors outside of energy climbed on perceived second-order effects. However, not all stocks participated in the rally. Some of the worst performers on Tuesday were Horizon Pharma (NASDAQ:HZNP), Och-Ziff Capital Management (NYSE:OZM), and Clovis Oncology (NASDAQ:CLVS).

Horizon Pharma plunged 26% after revealing in an SEC filing its updated investor presentation including projections for sales and adjusted operating earnings for the first and second quarters of 2016. The company confirmed adjusted EBITDA guidance for the full year between $505 million and $520 million on sales of $1.025 billion to $1.05 billion, which would represent growth of roughly 40% on both measures compared to 2015. However, Horizon said that a fairly large portion of the company's...


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