Merrill maintains Martek at sell

Merrill Lynch analyst David Munno maintained Martek Biosciences Corp. at sell after the company signed an exclusive 10-year supply agreement with its largest U.S. customer, Mead Johnson, to be the infant formula manufacturer's exclusive worldwide supplier of DHA and ARA. The deal gives the company less pricing flexibility but improves the risk profile to Martek's core business. Shares of the Columbia, Md., pharmaceutical company were up $1.85, or 8.43%, at $23.79 on volume of 2,312,174 shares versus the three-month running average of 765,744 shares. (Nasdaq: MATK)

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