Martek still sell, Merrill says

Martek Biosciences was reiterated by Merrill Lynch at a sell rating after the company reported fourth-quarter earnings per share of $0.15 on $56 million in revenue. Guidance for the first quarter of 2006 was below street consensus, supporting Merrill's thesis that the outlook is bleak. No guidance on timing or scale of food launches was given, suggesting low visibility of the program. Shares of the Columbia, Md., biotechnology company were down $5.38, or 18.39%, at $23.87 on volume of 7,914,906 shares versus the three-month running average of 874,697 shares.

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