I usually have a lot to say. I just know when to keep it to myself.
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ADG has so few shares...Shares Outstanding: 7.80M-Float:5.34M
MAGS- Thanks...i was in the zone this am i guess
CDTC moving pm on friday press/ CRDC hustling up too
TARRzan?
note: The term "Strategic Alliance" is over used in the otcbb world.
(...end of thought.)
ARIA: Chart:
ARIA (moving pm) 4.73 ARIAD Announces Agreement with FDA on Special Protocol Assessment for Phase 3 Clinical Trial of Oral Deforolimus
Monday September 10, 7:30 am ET
Progression-Free Survival is the Primary Endpoint of Phase 3 Trial in Metastatic Soft-tissue and Bone Sarcomas
CAMBRIDGE, Mass.--(BUSINESS WIRE)--ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA - News) today announced that it has reached agreement on a Special Protocol Assessment (SPA) with the U.S. Food and Drug Administration (FDA) for its global Phase 3 trial of oral deforolimus in patients with metastatic sarcomas. Based on the SPA, progression-free survival (PFS) will be the primary endpoint of the Phase 3 trial, and overall survival will be a secondary endpoint. The Company expects to begin patient enrollment in the trial later this month.
The SPA is a written agreement between the trial's sponsor and the FDA regarding the design, endpoints, and planned conduct and analysis of a trial to be used in support of regulatory approval. The European Medicines Agency (EMEA) has provided protocol advice consistent with that of the FDA regarding the Phase 3 trial design as part of its Protocol Assistance program. ARIAD and Merck & Co., Inc. have a global collaboration to jointly develop and commercialize deforolimus for use in cancer.
"We are extremely pleased with the outcome of our positive and collaborative discussions with the FDA review staff regarding the design of our Phase 3 trial for oral deforolimus in metastatic sarcomas. Working with leading sarcoma experts and our clinical investigators, we were able to successfully resolve the open issues regarding the trial's endpoints and reach agreement with the Agency on PFS as the primary endpoint," said Camille Bedrosian, M.D., chief medical officer of ARIAD.
ARIAD and Merck plan to conduct a Phase 3 trial of oral deforolimus in patients with metastatic soft-tissue and bone sarcomas following a favorable response to chemotherapy - a period when continued treatment with traditional chemotherapeutic agents has not been established to provide additional clinical benefit. Thus, absent new alternatives, patients would generally not receive other cancer therapies.
This double-blind trial is designed to evaluate approximately 650 patients who will be randomized (1:1) to oral deforolimus or placebo at approximately 125 sites. The trial is 90% powered to detect a 33% increase in median PFS (corresponding to a hazard ratio of 0.75) comparing the oral deforolimus arm with the placebo arm. Two interim analyses are included. Complete patient enrollment and the second interim analysis are expected to take place within approximately two years of the first patient being enrolled.
Pierre F. Dodion, M.D., senior vice president, oncology of ARIAD, added, "FDA agreement on our overall Phase 3 trial design, patient population and endpoints, as well as our newly established partnership with Merck represent important achievements for the global development of deforolimus."
About Sarcoma
Sarcomas are a group of aggressive cancers of connective tissue of the body for which there are currently limited treatment options. Sarcomas can arise anywhere in the body and are divided into two main groups - bone tumors and soft-tissue sarcomas. They are further subdivided based on the type of cell or tissue from which the tumor developed. There are approximately 12,000 new cases of sarcoma diagnosed each year in the United States and approximately 100,000 sarcoma patients overall in the United States. More information about sarcomas is available at http://www.curesarcoma.org and at http://www.sarcoma.net/facts/htm.
About Deforolimus
ARIAD's lead product candidate, deforolimus, is a novel small-molecule inhibitor of the protein mTOR, a "master switch" in cancer cells. Blocking mTOR creates a starvation-like effect in cancer cells by interfering with cell growth, division, metabolism, and angiogenesis. Patient enrollment has been completed in multiple Phase 1 and 2 clinical trials of deforolimus in patients with solid tumors and hematologic cancers. The global Phase 3 trial of oral deforolimus in metastatic soft-tissue and bone sarcomas is the subject of a Special Protocol Assessment with the U.S. Food and Drug Administration (FDA). Deforolimus has been designated both as a fast-track product and an orphan drug by the FDA and as an orphan drug by the European Medicines Agency for the treatment of sarcomas. ARIAD has a global partnership with Merck & Co., Inc. to develop and commercialize deforolimus in multiple cancer indications. ARIAD also is collaborating with Medinol Ltd. to develop stents and other medical devices that deliver deforolimus to prevent reblockage at sites of vascular injury following stent-assisted angioplasty.
About ARIAD
ARIAD is engaged in the discovery and development of breakthrough medicines to treat cancer by regulating cell signaling with small molecules. ARIAD is developing a comprehensive approach to patients with cancer that addresses the greatest medical need - aggressive and advanced-stage cancers for which current treatments are inadequate. ARIAD has a global partnership with Merck & Co., Inc. to develop and commercialize deforolimus, ARIAD's lead cancer product candidate. Medinol Ltd. is also developing stents and other medical devices that deliver deforolimus to prevent reblockage at sites of vascular injury following stent-assisted angioplasty. ARIAD has an exclusive license to pioneering technology and patents related to certain NF-(kappa)B treatment methods, and the discovery and development of drugs to regulate NF-(kappa)B cell-signaling activity, which may be useful in treating certain diseases. Additional information about ARIAD can be found on the web at http://www.ariad.com.
This press release contains "forward-looking statements," including statements related to the design, conduct and timing of the Phase 3 clinical trial of deforolimus in metastatic sarcoma. Forward-looking statements are based on management's expectations and are subject to certain factors, risks and uncertainties that may cause actual results, outcome of events, timing and performance to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to, the costs associated with our research, development, manufacturing and other activities, the conduct and results of pre-clinical and clinical studies of our product candidates, difficulties or delays in obtaining regulatory approvals to market products resulting from our development efforts, our reliance on partners, including Medinol and Merck, and other key parties for the successful development, manufacturing and commercialization of products, the adequacy of our capital resources and the availability of additional funding, patent protection and third-party intellectual property claims relating to our and any partner's product candidates, the timing, scope, cost and outcome of legal and patent office proceedings concerning our NF-(kappa)B patent portfolio, the potential acquisition of or other strategic transaction regarding the minority stockholders' interests in our 80%-owned subsidiary, ARIAD Gene Therapeutics, Inc., future capital needs, key employees, markets, economic conditions, prices, reimbursement rates, competition and other factors detailed in the Company's public filings with the U.S. Securities and Exchange Commission. The information contained in this document is believed to be current as of the date of original issue. The Company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in the Company's expectations, except as required by law.
Contact:
ARIAD Pharmaceuticals, Inc.
Edward M. Fitzgerald, 617-621-2345
or
Andrea L. Johnston, 910-681-1088
--------------------------------------------------------------------------------
Source: ARIAD Pharmaceuticals, Inc.
http://biz.yahoo.com/bw/070910/20070910005306.html?.v=1
re: TRIS: Shares Outstanding: 3.54M Float: 2.12M - wow, thats low!
ADG- 4.69-AMEX- The Allied Defense Group Announces Agreement to Sell the VSK Group in a $47.6 Million Transaction
Monday September 10, 7:00 am ET
The Company Continues to Right-Size, Restructure, Recapitalize With More Than $200 Million in Backlog
Shares Outstanding: 7.80M
Float: 5.34M
VIENNA, Va., Sept. 10 /PRNewswire-FirstCall/ -- The Allied Defense Group, Inc. (Amex: ADG - News) announces it has entered into a definitive agreement to sell its Belgium subsidiary, The VSK Group, to Xtralis Pty Ltd. Xtralis Pty Ltd is a global leader in security surveillance systems.
ADG will receive euro 35 million (approximately $47.6 million), with the sale expected to close on September 14, 2007.
Major General (Ret) John J. Marcello, President and Chief Executive Officer of The Allied Defense Group said, "VSK has grown substantially since ADG acquired the business in 1994. Today's acquisition allows XTRALIS access to important technologies and an improved entree to European markets. We believe the value of our VSK Group as reflected by this transaction represents an assessment that has not been reflected in ADG's public valuation, and therefore we believe the sale is a significant step forward in our goal of maximizing shareholder value. The proceeds from VSK's sale will help us increase our liquidity, reduce debt and improve our core competencies. ADG continues to right-size, restructure and recapitalize to maximize value for all of our shareholders."
The Allied Defense Group, Inc. was advised by Houlihan Lokey Howard & Zukin in connection with the transaction.
--------------------------------------------------------------------------------
Source: The Allied Defense Group, Inc.
http://biz.yahoo.com/prnews/070910/nem045.html?.v=20
g'morning :)
JASO: 38.92 JA Solar Secures a New Long-Term Wafer Supply Agreement and Revised a Major Supply Agreement to Support the Growth
Monday September 10, 7:48 am ET
HEBEI, China, Sept. 10, 2007 (PRIME NEWSWIRE) -- JA Solar Holdings Co., Ltd. (``JA Solar'', ``the Company'') (NasdaqGM:JASO - News) today announced that it has entered a long-term wafer supply agreement with JiangSu Shunda Semiconductor Develop Co., Ltd. (``Shunda''). The Company also announced that it has revised the prepayment terms of its wafer supply contract with JingLong Group.
Under the terms of the Shunda agreement, Shunda will supply JA Solar with silicon wafers starting immediately. The monthly supply will increase through the duration of the 41-month contract. Total deliveries under the agreement can reach about 1.2GW. JA Solar will make a total prepayment of RMB 350 million (approximately US$46.4 million in three installments) for future deliveries.
Shunda is a wholly owned subsidiary of JiangSu Shunda Group Corporation located in Yangzhou, Jiangsu Province. JiangSu Shunda Group is a leading high-technology enterprise focusing on the PV market. The company's rapid expansion in recent years has enabled it to produce polysilicon, mono-crystalline ingots, and wafers. For more information please visit http://www.shundasolar.com.
Separately, in line with industry standards the Company has revised the monthly prepayment terms under its existing contract with JingLong Group. According to the revised contract, JA Solar made the full prepayment to JingLong Group of RMB 300 million (approximately US$39.8 Million) on August 31, 2007. JingLong Group will apply the prepayment against shipments to JA Solar on a ratio of RMB 10 per wafer shipped starting on January 1, 2008. As one of the primary suppliers of JA Solar, JingLong Group has shipped a total of 30.9 million wafers to JA Solar in the past twelve months.
``These contracts further strengthen our long-term wafer supply and will help enable us to meet the company's growth objectives as we work to satisfy ever-demanding market needs,'' said, Samuel Yang, Chief Executive Officer of JA Solar. ``We will continue to work with our entire supply chain to build key strategic relationships to ensure product quality, supply stability and the economics required for us to sustain target growth and profitability.''
About JA Solar Holdings Co., Ltd.
Based in Hebei, China, JA Solar Holdings Co., Ltd. is an emerging and fast-growing manufacturer of high-performance monocrystalline solar cells. The Company sells its products to solar module manufacturers who assemble and integrate its solar cells into modules and systems that convert sunlight into electricity. For more information, please visit http://www.jasolar.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as ``will,'' ``may,'' ``expect,'' ``anticipate,'' ``aim,'' ``intend,'' ``plan,'' ``believe,'' ``estimate,'' ``potential,'' ``continue,'' and other similar statements. Statements other than statements of historical facts in this announcement are forward-looking statements, including but not limited to, our expectations regarding the expansion of our manufacturing capacities, our future business development, and our beliefs regarding our production output and production outlook. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Further information regarding these and other risks is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Source: JA Solar
http://biz.yahoo.com/pz/070910/126362.html
BMRX.OB 1.05- bioMETRX to Commence National Retail Roll Out of Master Lock(R) smartTOUCH(TM) Garage Door Opener
Monday September 10, 7:00 am ET
Innovative Product Scheduled to Ship to Over 1,600 Home Depot Stores
JERICHO, N.Y., Sept. 10 /PRNewswire-FirstCall/ -- bioMETRX Inc., Inc. (OTC Bulletin Board: BMRX - News) announced today that volume shipping of the Master Lock® smartTOUCH(TM) Garage Door Opener is scheduled to commence this month. The innovative garage door opener that recognizes its users through the simple touch of a finger will be available on retail shelves in the United States exclusively through The Home Depot within a few weeks.
"As one of the world's largest retailers, The Home Depot continues to demonstrate its commitment to make cutting edge technology products that are convenient and easy to use available to its customers in the United States," noted Lorraine Yarde, Chief Operating Officer at bioMETRX.
"Anticipation for the official national roll out of this product has been building for some time. Until now, this technology has not been available to consumers on such a large scale. Over the last 2 years the smartTOUCH(TM) garage door opener has gained national media attention for its innovative yet convenient features. We waited for the right retail opportunity to present itself, and we are looking forward to a successful national launch with The Home Depot," Ms. Yarde went on to say.
The Master Lock® smartTOUCH(TM) GDO is the first universal garage door opener that recognizes its user by simply touching the device. The product works with all automatic garage door openers from Chamberlain, LiftMaster, Craftsman, Genie, Marantec, Wayne Dalton and others. It installs in a few minutes, and programs in a few seconds. The product can be used by people of all ages and it can recognize up to 20 different users that can be deleted individually when necessary.
http://biz.yahoo.com/prnews/070910/nym007a.html?.v=1
MAGS 8.96-Magal Receives an Order of Over $8 Million to Protect Public Utility Sites in Western Asia
Monday September 10, 6:00 am ET
Shares Outstanding: 10.39M
Float: 7.78M
YAHUD, Israel, September 10 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. (NASDAQ GM: MAGS; TASE: MAGS), today announced that one of its wholly-owned subsidiaries has received an order of over $8 million to install its Perimitrax buried cable intrusion detection system as part of a project to protect several public utility facilities in Western Asia. The Company will begin installations at the first site, in the fourth quarter of 2007.
Magal Group's Perimitrax - a Buried Cable Intrusion Detection System, is a covert perimeter intrusion detection sensor that generates an electromagnetic field around buried sensor cables. If an intruder comes into contact with the field, an alarm is declared.
"We are very pleased to announce this order for one of Magal's premier security solutions," commented Mr. Izhar Dekel, CEO of Magal. "This order, further attests to our leading position in the security area, while expanding and diversifying our geographic footprint into a new region."
About Magal Security Systems, Ltd.:
Magal Security Systems Ltd. (Magal) is engaged in the development, manufacturing and marketing of computerized security systems, which automatically detect, locate and identify the nature of unauthorized intrusions. Magal also supplies video monitoring services through Smart Interactive Systems, Inc., a subsidiary in the U.S. The Company's products are currently used in more than 70 countries worldwide to protect national borders, airports, correctional facilities, nuclear power stations and other sensitive facilities from terrorism, theft and other threats.
Magal trades under the symbol MAGS in the U.S. on the Nasdaq Global Market and in Israel on the Tel-Aviv Stock Exchange (TASE).
This press release contains forward-looking statements, which are subject to risks and uncertainties. Such statements are based on assumptions and expectations which may not be realized and are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, may differ from the results discussed in the forward-looking statements. A number of these risks and other factors that might cause differences, some of which could be material, along with additional discussion of forward-looking statements, are set forth in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission.
Contacts:
Company
Magal Security Systems, Ltd
Raya Asher, CFO
Tel: +972-3-5391-444
Fax: +972-3-5366-245
E-mail: magalssl@trendline.co.il
Investor Relations
Gelbart Kahana Investor Relations
Ehud Helft/Kenny Green
Tel: +1-866-704-6710
E-mail: info@gkir.com
--------------------------------------------------------------------------------
Source: Magal Security Systems Ltd
http://biz.yahoo.com/prnews/070910/ukm022.html?.v=54
Network storage systems provider BlueArc files for an IPO
9/7/2007
BlueArc, which provides unified network storage systems to enterprise markets and data intensive markets, filed for an IPO Friday with the SEC. Credit Suisse and Lehman Brothers are the joint book runners on the deal. No terms were disclosed in the initial filing.
http://www.ipohome.com/marketwatch/iponews.asp
Thanks, I tried to explain it in a couple of my posts tonight, but thought a quick search and link
would make it more clear and without my added opinions.
Pink Sheets LLC
The Pink Sheets are published by Pink Sheets LLC (formerly known as the National Quotation Bureau), a privately held company headquartered in New York City. Pink Sheets LLC is not registered with the SEC as a stock exchange, and the agency does not regulate its activities.
http://www.streetauthority.com/terms/p/pinksheets.asp
In all fairness then, I don't see why you think brokers should be forced to discuss the pink sheet companies if you choose to do it all online anyhow? You can still call them, you know- and they will help willing folks on regular markets.
.........just sayin'
g'nite tiki.
If we were discussing what brokers recommend or do not, then I was addressing a full service brokerage. Do regular online brokerages offer "advice" on any stock in a typed forum on their website? I was referring to a verbal discussion with your broker.
Well, if you call you can discuss securities and markets. Call your Scottrade broker and he will tell you that he/she "cannot recommend any pink sheet stock". That's the advice he or she can distribute, as they are not licensed to discuss pink sheets, other than tell you what they are..........which is a company that isn't registered as a market with SEC.
But Tiki, the brokers DO educate their clients by saying "we DON'T recommend pink sheet stocks".
They cannot possibly recommend them, ever- and can not be clearer then that.
PS- Have we discussed FINRA yet here? Did I miss it? For those who don't know, NASD and NYSE merged some junk in July and are FINRA....lol
Carry on.............
Tiki, there are very very very few GREAT pink sheet traders.
They only learned by one means: PRACTICE
Watch the L2 and don't hold it. Period.
Ask around, I'll survey and will bet Serfdoms donuts that 90 percent of the people on this board have lost A LOT of money in pinks before ever making a small profit........and it was
because of practice. They got their butts kicked once before an swore not to hold again.
Soooooooo, you bought 3 books on the markets BEFORE you ever traded anything..........
and decided to go for a pink sheet stock, ie...nothing you had read about or educated yourself on?
Why did you pick pink then?
No, Tiki. There is no need to apologize. I DO agree with this statement of yours:
My point is get rid of the repeat offenders who never create any value whatsoever for their shareholders
However, I absolutely disagree with forcing the brokers to be up on every pink scam. There is just too much. Also, why on earth would a broker recommend a stock that is only a pubco to raise money to hopefully move onto the bigger boards? Why not wait and see if they ever really get there and have made the information transparent? How can a broker know the numbers on the fins when the companies don't release them?
A broker assisted trade at a full service brokerage
costs on average $50.00 for each a buy and sell. If the average penny investor spends $300 as clarity stated, is the penny player going to even afford the full service brokerage?
No...........sigh. That's why online or discount brokerages are available to everyone.
The SEC allows small or start up companies to make money by going public........but perhaps they could at the very least set a time limit on them. Like welfare. There you go, pink sheet companies are sort of a welfare or unemployment program.
It wont pay forever, folks have access to programs to better themselves, and you are allowed only one paid promotion per listing. lol.............it all makes sense when we compare one system to the next.
but not knowing the truths that lie within the market? Schools don't teach investing, so where would the simple man gain such knowledge?
..........a library?
I think the pinky game preys on many factors. Weak? No, I've seen some of the best DD around in the penny boards. That much work isn't truly necessary on the big boards. Heck, if you have a question with UA or NKE (Under Armour or Nike of course), you don't call the CEO and bs his sales pitch. You can call a broker. A person licensed to discuss the markets, but NOT
licensed to discuss the pinks. There is no such study area to
get your brokers license. The only time a pink sheet stock is listed to pass your brokers test, is the definition and nothing more.
I think the online trading systems are perfectly designed that a person cannot set a stop loss *(at least for me) with OTCBB or PINK and go out for an afternoon. So, when people see the stock go down 20% in a blink - logic goes out the window and you watch for it to turn around. No, it's crashing and good luck trying to catch that falling knife. Later that day pools of bagholders are talking about the next press. Then comes in the feeling of "averaging down" all in the name of making the money back that was lost, but probably losing more money. That is exactly a gambling mentality to try and "win it back". Been
in pinks and at casinos......you always want back what you had minutes before.
So there are no stop losses for pinkie traders and nobody at the office there to talk to.
I think many pinkie players have to turn to the message boards and the internet. They are not weak however. You have to remember that without this superhighway, the people that you think are weak did not have an "online" broker, and many no broker at all before the net came along. This is a whole new breed of people which have developed in the last 10 years. (forgive me, I do not know what year the first online brokerage developed).
So, Joe Smith wanted to play it like the Wall Street players and he is just buying some shares in his brokerage. He sees stocks for .002 and he likes the idea of owning a million shares of something. He took his finances in his own hands
and it's empowering. He calls the CEO after a few months and that is a glorified sales pitch, but he feels a rapport with the company now. There is news, and it flies for exactly 2 and a half days. He holds because 30% wasn't enough profit after holding it for 6 months now. Then suddenly stock bears down and he adds because he just learned the phrase (so often incorrectly used) "average down". Is he still weak?
I think it comes down to education. Although I see the need for a resource for the pinky traders (because there isn't one) I also see a need for education on investing as well as short term trading. I don't care who you are, everyone has heard the phrase "diversify your portfolio" at some point, even if it was on TV.
That DOES NOT mean add a bunch of different pink sheets into your etrade, lol.
Remember too why the SEC doesn't really give a darn about pink sheets.....
Pink sheet CEO's do NOT pay the salary of the SEC desks, because they claim to be a small company just looking to get started. They ALL plan to move up, don't they? It's not that easy, and they know it when they buy the shells. They are so greedy, and it's only fear and greed that manipulate the markets. We call them "pumpers and bashers" but they are not people at all....
...They are just fabrications of our own emotions.
g'nite
RE: "NOONE": Posted by: Phil (Bullrider)
post link: http://investorshub.advfn.com/boards/read_msg.asp?message_id=22697006
In reply to: Warhorse who wrote msg# 96630 Date:9/8/2007 9:16:30 AM
Post #of 96662
Do a search for Noone on the boards.
You won't believe how many hits you'll get.
I don't know whether people are too ignorant to know it's two words,
or too stupid to care.
There is already a grammer and spelling board.
http://investorshub.advfn.com/boards/board.asp?board_id=2700
Have fun,
Phil
2 boards already: Scammy CEO's:
http://investorshub.advfn.com/boards/board.asp?board_id=8927
and Reverse Split Repeat Offenders:
http://investorshub.advfn.com/boards/board.asp?board_id=3017
They say "third time's a charm." :)
Down is one supremo poster.
"it's like backing into an electric fence lol"
Now there is something I never did twice.
Hi Hopscotch :) Glad to see you're around helping people
with their odd financing questions. I posted it here and one other board. I'm hoping everyone learned something new today.
This phrase was a first for me,
Bridge
JMR and Down, Thanks so much. Although I'm familiar with the insurance companies carrying insurance, this was the first time I had seen the Regulation Triple X financing in press, or was aware of it's title. True, the company which issued the PR this evening was an insurance group.
I appreciate both of your prompt responses. I'm sure I wasn't the only one out there who was unclear of what this could be.
Thanks again,
Bridget
Hi Hop, Cintrix and Profit. I came across a PR with this type of financing. Are any of you familiar with it? I'm asking around as I cannot recall looking into this before. Perhaps you have already and can sum it up for me. TIA, bridge
"Regulation Triple-X peak reserve financing"
BOARD: "Regulation Triple-X peak reserve financing" : Who here is familiar with this type of deal?
AFTERHOURS: UNH: 49.60 UnitedHealth Group and Sierra Health Services Receive Merger Approval from California Department of Insurance
Thursday September 6, 7:21 pm ET
Companies Receive All Required State Regulatory Approvals to Complete Merger
MINNEAPOLIS & LAS VEGAS--(BUSINESS WIRE)--UnitedHealth Group (NYSE:UNH - News) and Sierra Health Services, Inc. (NYSE:SIE - News) today announced that the California Department of Insurance has granted approval of their merger. With this announcement, recent approval from the Nevada Division of Insurance and the consent of the Arizona Department of Insurance, UnitedHealth Group and Sierra have received all necessary state regulatory reviews and approvals to complete the merger. The companies continue to work with the Department of Justice to receive final regulatory approval. The transaction is expected to be completed by the end of 2007.
ADVERTISEMENT
About UnitedHealth Group
UnitedHealth Group (www.unitedhealthgroup.com) is a diversified health and well-being company dedicated to making health care work better. Headquartered in Minneapolis, Minn., UnitedHealth Group offers a broad spectrum of products and services through six operating businesses: UnitedHealthcare, Ovations, AmeriChoice, Uniprise, Specialized Care Services and Ingenix. Through its family of businesses, UnitedHealth Group serves more than 70 million individuals nationwide.
About Sierra Health Services, Inc.
Sierra Health Services, Inc., based in Las Vegas, is a diversified healthcare services company that operates health maintenance organizations, indemnity insurers, preferred provider organizations, prescription drug plans and multi-specialty medical groups. Sierra's subsidiaries serve over 860,000 people through health benefit plans for employers, government programs and individuals. For more information, visit the Company's website at www.sierrahealth.com.
Forward-Looking Statements
This press release may contain statements, estimates, projections, guidance or outlook that constitute "forward-looking" statements as defined under U.S. federal securities laws. Generally the words "believe," "expect," "intend," "estimate," "anticipate," "plan," "project," "will" and similar expressions, identify forward-looking statements, which generally are not historical in nature. These statements may contain information about financial prospects, economic conditions, trends and uncertainties. We caution that actual results could differ materially from those that management expects, depending on the outcome of certain factors. These forward-looking statements involve risks and uncertainties that may cause UnitedHealth Group's actual results to differ materially from the results discussed in the forward-looking statements. Some factors that could cause results to differ materially from the forward-looking statements include: the potential consequences of the findings announced on October 15, 2006 of the investigation by an Independent Committee of directors of our historic stock option practices, the consequences of the restatement of our previous financial statements, related governmental reviews, including a formal investigation by the SEC, and review by the IRS, U.S. Congressional committees, U.S. Attorney for the Southern District of New York and Minnesota Attorney General, a related review by the Special Litigation Committee of the Company, and related shareholder derivative actions, shareholder demands and purported securities and Employee Retirement Income Security Act (ERISA) class actions, the resolution of matters currently subject to an injunction issued by the United States District Court for the District of Minnesota, a purported notice of acceleration with respect to certain of the Company's debt securities based upon an alleged event of default under the indenture governing such securities, and recent management and director changes, and the potential impact of each of these matters on our business, credit ratings and debt; increases in health care costs that are higher than we anticipated in establishing our premium rates, including increased consumption of or costs of medical services; heightened competition as a result of new entrants into our market, and consolidation of health care companies and suppliers; events that may negatively affect our contract with AARP; uncertainties regarding changes in Medicare, including coordination of information systems and accuracy of certain assumptions; funding risks with respect to revenues received from Medicare and Medicaid programs; increases in costs and other liabilities associated with increased litigation, legislative activity and government regulation and review of our industry; our ability to execute contracts on competitive terms with physicians, hospitals and other service providers; regulatory and other risks associated with the pharmacy benefits management industry; failure to maintain effective and efficient information systems, which could result in the loss of existing customers, difficulties in attracting new customers, difficulties in determining medical costs estimates and appropriate pricing, customer and physician and health care provider disputes, regulatory violations, increases in operating costs, or other adverse consequences; possible impairment of the value of our intangible assets if future results do not adequately support goodwill and intangible assets recorded for businesses that we acquire; potential noncompliance by our business associates with patient privacy data; misappropriation of our proprietary technology; and anticipated benefits of acquisitions that may not be realized.
This list of important factors is not intended to be exhaustive. A further list and description of some of these risks and uncertainties can be found in both companies' reports filed with the Securities and Exchange Commission from time to time, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Any or all forward-looking statements we make may turn out to be wrong. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Except to the extent otherwise required by federal securities laws, we do not undertake to publicly update or revise any forward-looking statements.
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5487169
Contact:
UnitedHealth Group
John Penshorn, 952-936-7214
Senior Vice President
or
Media:
Tyler Mason, 714-226-3530
or
Sierra Health Services
Peter O'Neill, 702-242-7156
Vice President, Public & Investor Relations
--------------------------------------------------------------------------------
Source: UnitedHealth Group
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http://biz.yahoo.com/bw/070906/20070906006317.html?.v=1
PAY: 36.99- (up a/h) Verifone beats by $0.02; guides EPS in-line for Q4; guides FY07 EPS above consensus (PAY) 36.99 -0.01 : Reports Q3 (Jul) earnings of $0.42 per share, ex items, $0.02 better than the Reuters Estimates consensus of $0.40; revenues rose 57.1% year/year to $231.9 mln vs the $226.7 mln consensus. Co guides EPS in-line for Q4, sees EPS of $0.41-0.42 vs. $0.41 consensus; sees Q4 revs of $231-233 vs. $235.20 mln consensus. Co issues upside EPS guidance for FY07, sees EPS of $1.59-1.60 vs. $1.56 consensus. Co raises long term gorss margin guidance to 45-50% from 42-47%.
nice touch. It's better than the "lost-my-money-on-a-pinkie-play-and-can't-afford-to-renew" idea.
Can you hear me NOW?
Can you hear me now?
i'm sure it was an important call. lol