Merrill maintains Martek at neutral

Martek Biosciences Corp. was maintained by Merrill Lynch analyst David Munno on news that the company reported first-quarter earnings per share of $0.19, excluding options expense, on revenues of $62.9 million, in line with preannounced guidance. Martek indicated that the third quarter could be sequentially flat or down due to a seasonal, two-week maintenance plant shutdown for customers, which could mean as much as $10 million in revenue in that quarter is at risk. Shares of the Columbia, M.D., pharmaceutical company were up $3.69, or 12.09%, at $34.22 on volume of 4,883,352 shares versus the three-month running average of 1,076,260 shares. (Nasdaq: MATK)

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