ImClone lowered to market perform by JMP

ImClone Systems Inc. was downgraded to market perform from market outperform by JMP Securities analyst Charles Duncan on ImClone's reported underwhelming fourth-quarter 2005 and fiscal year 2005 earnings that missed JMP and consensus expectations. Expected launch of Amgen/Abgenix's panitumumab should pose a challenge to ImClone's Erbitux's sales. Shares of the New York pharmaceutical company were down 87 cents, or 2.46%, at $34.49 on volume of 4,119,703 shares versus the three-month running average of 1,925,200 shares. (Nasdaq: IMCL)

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