Millennium kept at market perform by JMP

JMP Securities analyst Charles C. Duncan maintained Millennium Pharmaceuticals, Inc. at market perform on news of the company's better-than-expected earnings for the second quarter, with Velcade sales slightly above consensus expectations. The analyst raised his full-year 2006 total revenue estimate to $480.5 million from $450 million and lowered the net loss projection to $0.28 per share from $0.41 per share, on a GAAP basis. Shares of the Cambridge, Mass.-based pharmaceutical company were up 23 cents, or 2.40%, at $9.82 on volume of 2,987,971 shares versus the three-month running average of 5,321,940 shares. (Nasdaq: MLNM)

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