Market Roundup (PGN, DUK, APOL, RSH, AUXL, PFE)

Shares of Apollo Group Inc APOL dropped about 5.2% as the company is all set to report its quarterly earnings after the closing bell. Wall Street expects Apollo Group to post its FQ1 EPS at $1.35 on revenue of $1.26 billion. Shares of RadioShack Corp RSH dipped about 5.4% after Friedman Billings Ramsey downgraded the stock from “outperform” to “market perform.” They also lowered their price target for the stock from $24 to $20. RSH shares have dropped 19% over the previous year. Shares of Auxilium Pharmaceuticals AUXL surged about 13% after the company reported its preliminary Q4 financial results and 2011 sales guidance. However, the drug sector's two main indexes moved down. AUXL reported that its full year 2010 net revenue surged 29% y/y to $211.4 million. The company now projects its 2011 net revenue from its drug Xiaflex between $55 million and $67 million, which includes royalties and payments worth $7 million under its contract with Pfizer Inc PFE. The NYSE Arca Pharmaceutical Index (DRG) fell about 0.69%, while the NYSE Arca Biotechnology Index (BTK) dropped about 1.65%. Shares of Progress Energy Inc PGN fell about 2% after the boards of directors of Duke Energy Corp DUK and PGN approved the merger plan. DUK will buy PGN for $13.7 billion, or $46.48 per share, representing a 4% premium to PGN' three-month price average. The deal is likely to close by the end of 2011. Read more from Benzinga's Markets.