<div id="subtitle">Affymetrix posts unexpected 4th-quarter profit and better sales, shares skyrocket</div><div><p>Shares of Affymetrix Inc. surged Thursday after the genetic analysis instrument maker surprised Wall Street by reporting a profit in the fourth quarter.</p><p>Affymetrix said it earned 4 cents per share for the period, while analysts expected a loss of 10 cents per share, on average. The company's revenue was about $6 million more than expected.</p><p>In midday trading, the stock advanced $1.70, or 30 percent, to $7.37.</p><p>Based on the results, JPMorgan analyst Tycho Peterson upgraded Affymetrix shares to "Neutral" from "Underweight." He said the stock presents little risk right now because of solid demand for its new products.</p><p>"Following a challenging 2009, AffyMetrix reported better than expected fourth-quarter results as early demand for GeneTitan and Axiom began to take hold and strong instrument placements more than offset headwinds from pharma consolidation," he said.</p><p>He added that Affymetrix should be profitable on an operating basis in 2010, and will get a boost from stimulus funds later in the year. Peterson kept a price target of $8 per share on the Santa Clara, Calif., company.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=68448022&bid=informcom" /></div><div id="copyright"><div>

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