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DROOY > double bottom, on watch...
CMOS looks good here for swing trade imo. fundamentals are sound. they got 2.45$ cash per share, book value is around 2.7$. both institutions and insiders been buying lately.
my take anyways, so do your dd before buying
>
sorry folks got connection problems here... I see MESA is flying, funny I sold for a loss yesterday before close(thinking that it will go down today after four green days).... I guess my mind isnt built for daytrading, it just never worked for me. I better stick with swing trading or long term investment:)))
FMD > could go either way
DCFF chart
LUNA Luna Innovations-LUNA successfully demonstrates MRI contract agent
Wednesday, April 30 2008 - 8:54
LUNA $0.0 $0.0 (%0.0)
T
he product development team at the nanoWorks division of Luna Innovations Incorporatedhas produced a novel class of molecules designed to provide a new approach to improve the quality of magnetic resonance imaging. Luna's molecules have initially proven to be more effective at enhancing images and are potentially safer than current MRI agents. This new class of molecules provides a platform upon which Luna plans to build a portfolio of nanomedicines aimed at disease targeting and diagnostic imaging.
ABPI +41% PM
ABPI (1.13) Accentia Biopharmaceuticals announces SinuNase(TM) Fast-Tracked Pivotal Phase 3 Study in Chronic Sinusitis Shows Statistically Significant Objective Evidence of Superiority of SinuNase Over Control Lavage in Severe Cases (1.13) -- Update
Wednesday, April 30 2008 - 8:31
ABPI $1.13 $0.02 (%1.80)
W
ednesday, April 30 2008 8:31 AM, EST
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*Accentia Biopharmaceuticals announces SinuNase(TM) Fast-Tracked Pivotal Phase 3 Study in Chronic Sinusitis Shows Statistically Significant Objective Evidence of Superiority of SinuNase Over Control Lavage in Severe Cases (1.13) -- Update
Briefing.com "Inplay "
*Accentia Biopharmaceuticals announces SinuNase(TM) Fast-Tracked Pivotal Phase 3 Study in Chronic Sinusitis Shows Statistically Significant Objective Evidence of Superiority of SinuNase Over Control Lavage in Severe Cases (1.13) -- Update
UNTD (10.83)United Online Declares Quarterly Dividend of $0.20 Per ShareUNITED ONLINE INC UNTD | 4/30/2008 8:10:40 AMWOODLAND HILLS, Calif., Apr 30, 2008 (PrimeNewswire via COMTEX News Network) --
United Online, Inc. (Nasdaq:UNTD), a leading provider of consumer Internet and media services, today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.20 per share. The dividend is payable on May 30, 2008 to shareholders of record on May 14, 2008. This marks the thirteenth consecutive quarter that United Online will have paid a $0.20 per share cash dividend to its shareholders.
As announced in a separate press release today, United Online and FTD Group, Inc. have entered into a definitive merger agreement providing for the acquisition of FTD Group, Inc. by United Online, Inc. Following the closing of the transaction, United Online expects to decrease its regular quarterly cash dividend from $0.20 per share to $0.10 per share. The payment of future dividends is discretionary and will be subject to determination by the Board of Directors each quarter following its review of the company's financial performance and other factors.
About United Online
United Online, Inc. (Nasdaq:UNTD) is a leading provider of consumer Internet and media services. The company's services include online social networking (Classmates), online loyalty marketing (MyPoints), Internet access (NetZero, Juno) and email. United Online is headquartered in Woodland Hills, CA, with offices in: New York, NY; Fort Lee, NJ; Renton, WA; San Francisco, CA; Schaumburg, IL; Erlangen, Germany; and Hyderabad, India. For more information about United Online, please visit www.unitedonline.com.
Cautionary Information Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. Any future determination as to payment of dividends will depend upon the financial condition, results of operations and cash flows of the company and such other factors as are deemed relevant by the Board of Directors. For example, a change in the company's business needs including working capital and funding for acquisitions, or a change in tax laws relating to dividends, could cause the Board of Directors to decide to cease the payment of or reduce the dividend in the future. Information about potential factors that could affect the company's business, financial condition, results of operations, and cash flows is included in the company's annual and quarterly reports filed with the Securities and Exchange Commission (http://www.sec.gov), including, without limitation, information under the captions "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors."
This news release was distributed by PrimeNewswire, www.primenewswire.com
SOURCE: United Online, Inc.
GNTA (.37)Genta Announces First Quarter 2008 Financial Results and Corporate Update
Wednesday, April 30 2008 - 8:01
GNTA $0.37 $-0.01 (%-2.63)
BERKELEY HEIGHTS, N.J., April 30 /PRNewswire/ -- Genta Incorporated (Nasdaq: GNTA) announced that the Company will release its first quarter 2008 financial results on Thursday, May 8, 2008. Genta management will host a conference call and live audio webcast to discuss financial results and recent corporate activities at 8:00 am EDT.
Participants can access the live call by dialing (877) 634-8606 (U.S. and Canada) or (706) 679-3140 (International). The access code for the live call is Genta Incorporated. The call will also be webcast live at http://www.genta.com/investorrelation/events.html
For investors unable to participate in the live call, a replay will be available approximately two hours after the completion of the call, and will be archived for 30 days. Access numbers for this replay are: (800) 642-1687 (U.S. and Canada) and (706) 645-9291 (International); conference ID number is: 44823128.
About Genta
Genta Incorporated is a biopharmaceutical company with a diversified product portfolio that is focused on delivering innovative products for the treatment of patients with cancer. Two major programs anchor the Company's research platform: DNA/RNA-based Medicines and Small Molecules. Genasense(R) (oblimersen sodium) Injection is the Company's lead compound from its DNA/RNA Medicines program. Genta is currently recruiting patients to the AGENDA Trial, a global Phase 3 trial of Genasense in patients with advanced melanoma. The leading drug in Genta's Small Molecule program is Ganite(R) (gallium nitrate injection), which the Company is exclusively marketing in the U.S. for treatment of symptomatic patients with cancer related hypercalcemia that is resistant to hydration. The Company has developed G4544, an oral formulation of the active ingredient in Ganite, that has recently entered clinical trials as a potential treatment for diseases associated with accelerated bone loss. The Company is also developing tesetaxel, a novel, orally absorbed, semi-synthetic taxane that is in the same class of drugs as paclitaxel and docetaxel. Ganite and Genasense are available on a "named-patient" basis in countries outside the United States. For more information about Genta, please visit our website at: www.genta.com.
Safe Harbor
This press release may contain forward-looking statements with respect to business conducted by Genta Incorporated. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Forward- looking statements include, without limitation, statements about:
-- the Company's ability to obtain necessary regulatory approval for
Genasense(R) from the U.S. Food and Drug Administration ("FDA") or
European Medicines Agency ("EMEA");
-- the safety and efficacy of the Company's products or product
candidates;
-- the Company's assessment of its clinical trials;
-- the commencement and completion of clinical trials;
-- the Company's ability to develop, manufacture, license and sell its
products or product candidates;
-- the Company's ability to enter into and successfully execute license
and collaborative agreements, if any;
-- the adequacy of the Company's capital resources and cash flow
projections, and the Company's ability to obtain sufficient financing
to maintain the Company's planned operations;
-- the adequacy of the Company's patents and proprietary rights;
-- the impact of litigation that has been brought against the Company and
its officers and directors and any proposed settlement of such
litigation;
-- the Company's ability to retain compliance with the NASDAQ's listing
qualifications; and
-- the other risks described under Certain Risks and Uncertainties Related
to the Company's Business, as contained in the Company's Annual Report
on Form 10-K and Quarterly Report on Form 10-Q.
The Company does not undertake to update any forward-looking statements. There are a number of factors that could cause actual results and developments to differ materially. For a discussion of those risks and uncertainties, please see the Company's Annual Report on Form 10-K for 2007 and its most recent quarterly report on Form 10-Q.
CONTACT:
Genta Investor Relations
908-286-3980
info@genta.com
ECTX (2.19)ECtel Expected to Strengthen IRM(TM) Market Position with Acquisition of Compwise''s Assets
Wednesday, April 30 2008 - 8:02
ECTX $2.19 $0.01 (%0.46)
ROSH HA'AYIN, Israel, April 30 /PRNewswire-FirstCall/ -- ECtel Ltd. (NASDAQ: ECTX), a leading provider of Integrated Revenue Management(TM) (IRM(TM)) solutions, announced today that it acquired substantially all assets of Israel-based Compwise, a provider of business analytic solutions for telecommunication operators, for approximately $1.3 million.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/FLTU015LOGO )
The acquisition is expected to expand and strengthen ECtel's market leading Integrated Revenue Management(TM) product suite, as well as expand its customer base. The acquisition is expected to be accretive to earnings.
Compwise's products provide innovative business intelligence solutions for telecommunications service providers. Their unique analytical approach enables operators to maximize tariff profitability, improve retention of profitable customers and detect revenue leakage.
ECtel will merge Compwise's products into ECtel's leading IRM(TM) platform, further enhancing the Company's offering as a one-stop revenue management solution. Under terms of the acquisition, ECtel will continue to provide revenue management services and support to Compwise's current clients, which include some of the leading and most well-known telecom service providers around the world.
"By incorporating Compwise's product offering, ECtel will further improve its ability to assist telcos with their revenue management efforts," said Itzik Weinstein, CEO of ECtel. "This transaction showcases our long-term commitment to provide our customers with the most innovative and complete revenue management solution available in the market today."
"The acquisition is well aligned with our long-term growth strategy, which focuses on solid execution, innovation and M&A activity," Weinstein added. "Compwise's products add a set of business intelligence capabilities that will enable the operator to address pricing and profitability, customer retention, marketing campaigns and rating & billing assurance."
About ECtel
ECtel (NASDAQ:ECTX) is a leading global provider of Integrated Revenue Management(TM) (IRM(TM)) solutions for communications service providers. A pioneering market leader for nearly 20 years, ECtel offers carrier-grade solutions that enable wireline, wireless, converged and next generation operators to fully manage their revenue and cost processes. ECtel serves prominent Tier One operators, and has more than 100 implementations in over 50 countries worldwide. Established in 1990, ECtel maintains offices in the Americas and Europe. For more information, visit http://www.ectel.com
Certain statements contained in this release contain forward-looking information with respect to benefits of the proposed acquisition, expectations that the acquisition will be accretive to ECtel's results and plans, projections or future performance and products of the Company, the occurrence of which involves certain risks and uncertainties, including, but not limited to, difficulties encountered in integrating the acquired business, approval of the transaction by the stockholders of Compwise, the satisfaction of closing conditions to the transaction, the risk that liabilities assumed in this acquisition will be greater than anticipated, the reoccurrence of sales to existing customers, the ability to recognize revenue in future periods as anticipated, the possible slow-down in expenditures by telecom operators, the unpredictability of the telecom market, product and market acceptance risks, ability to complete development and market introduction of new products, the impact of competitive pricing and offerings, fluctuations in quarterly and annual results of operations, dependence on several large customers, commercialization and technological difficulties, risks related to our operations in Israel and other risks detailed in the Company's annual report on Form 20-F and other filings with the Securities and Exchange Commission. ECtel undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE ECtel Ltd
ELTK (2.20) STABLCOR Launches Price Competitive ST10-LC909 Product for CTE Control in Polyimide Applications
Wednesday, April 30 2008 - 8:00
ELTK $2.20 $-0.0199 (%-0.90)
COSTA MESA, CA -- (MARKET WIRE) -- 04/30/08 -- STABLCOR Incorporated, a provider of laminate-based thermal management technology for printed circuit boards and substrates, announced the launch of their ST10 Polyimide product family.
According to STABLCOR Chief Technology Officer Kris Vasoya, the new ST10-LC909 (Polyimide) is a more reliable, price competitive replacement product for use in controlling the thermal expansion of printed circuit boards and matches closer with the Ceramic and flip-chip type low CTE components. ST10-LC909 is the industry alternative product for Thermount® and Copper Invar Copper.
"The ability to control CTE, until now, was limited to Epoxy-based applications only," said Vasoya. "With our competitive pricing, ST10-LC909 can cost effectively be used in polyimide-based, low CTE applications and presents a significant advantage to Thermount® users. We worked closely in the development of this product with two of our major fabricators, Eltek Ltd. (NASDAQ: ELTK) and CIREP, a subsidiary of France-based CIRE Group. ST10-LC909 has been extensively tested by an independent laboratory," added Vasoya.
A multi-layer board manufactured with polyimide and Copper Invar Copper, or Thermount materials can be duplicated using multiple layers of standard polyimide and two to three layers of ST10-LC909 embedded into the PCB to achieve the Coefficient of Thermal Expansion (CTE) replicating an existing design. An additional benefit of using STABLCOR is the ability to tailor the CTE in a range from 9ppm/°C to 12ppm/°C. Achieving this significant advantage is dependent on the placement and amount of material used in the PCB stack-up. To view CTE comparison test results with boards using Thermount and those manufactured with STABLCOR, visit the company's website at www.stablcor.com.
"The launch of our ST10-LC909 family will provide a product that fills a significant unmet need within the PCB industry," commented Stablcor President Douglas J. Tullio. "While we currently have an extensive intellectual portfolio of five issued and 20 domestic and international patents pending, I strongly believe that with the inherent heat control benefits and competitive pricing, ST10-LC909 will quickly become our flagship product."
In addition to the improved CTE achievable through the use of STABLCOR technology, the PCB manufacturer and fabricator will experience the following benefits: Easy to drill through small (8mil) holes, not abrasive to the drill bit (carbon is lubricant to the drilling); low Z-axis expansion, when compared to boards using Thermount materials; no moisture absorption issues; the PCB will act as a heat spreader, which substantially reduces hot spot; increased rigidity without increasing the weight of the board; decreased temperatures in lead-free assembly.
About Stablcor Inc.
STABLCOR® is the only provider of a thermally and electrically conductive carbon composite material which, when incorporated in printed circuit boards and substrates, controls heat, thermal expansion and increases the rigidity and strength of circuit boards without increasing the weight. The patented laminate and the processes to incorporated STABLCOR into circuit boards and substrates provide the electronics industry a cost efficient technology to produce smaller electronic products while eliminating the thermal, mechanical and reliability concerns that currently challenge the semiconductor industry. For more information about STABLCOR visit the company's website at www.stablcor.com.
THERMOUNT® is a registered trademark of the DuPont Company | STABLCOR® is a registered trademark of Stablcor, INC.
CONTACT:
Stablcor Inc.
Carol Burch
Vice President Marketing
714.524.1188 x203
carol.burch@stablcor.com
TSYS (3.56) TCS Awarded $15.8 Million in Government ContractsTELECOMMUNICATIONS SYSTM TSYS | 4/30/2008 8:01:28 AMOver 90% of Contracts Value Expected to Be Recognized as Revenue in 2008
ANNAPOLIS, MD, Apr 30, 2008 (MARKET WIRE via COMTEX News Network) --
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a leading provider of mission-critical wireless communications, today announced that it has recently secured approximately $15.8 million in contracts to provide a broad range of communication solutions and services primarily to Federal Government customers across Civilian Agencies, the Department of Homeland Security, and the Department of Defense (DoD). TCS was contracted to provide solutions to include SwiftLink products, satellite communications services, Continuity of Operations (COOP), and Telecom Expense Management (TEM).
The contracts awarded to TCS in the past four months derive from multiple sales vehicles, including the company's GSA Schedule, the World-Wide Satellite Systems (WWSS) Indefinite Delivery Indefinite Quantity (IDIQ) contract, Washington Interagency Telecommunications System (WITS) and the GSA SATCOM-II Contract. A full list of contract vehicles can be found at: http://www1.telecomsys.com/government/nsg_contract_vehicles/ContractVehicles.cfm.
"These contract wins demonstrate our continued ability to meet the government's stringent requirements for providing best-in-class communications services and solutions," said Michael Bristol, Senior Vice President of the Government Services Group at TCS. "TCS strives to understand each organization's needs and timeframes to deliver the tools and resources necessary to get the job done, efficiently and effectively. Our solid reputation and proven performance are generating an increase in government contracts."
The consistent contract deal flow that TCS maintains is attributed to a strong 20-year track record of delivering premium quality professional services that include:
-- The SwiftLink(R) deployable communication suite provides government organizations with battle tested, reliable connectivity and empowers warfighters with seamless, secure interoperable communications. http://www.telecomsys.com/government/swiftlink/index.cfm-- TCS Satellite Services provide technically advanced international satellite communications. With experience in design, installation, operation, service, and maintenance, TCS offers flexible and easy-to-use communications capabilities. TCS manages the entire network integration effort -- from international licensing and project management to network design, site surveys, antenna installation, satellite commissioning, and network maintenance. http://www.telecomsys.com/government/satelliteservices.cfm-- TCS COOP solutions are customizable, employing proven continuity of operations methodologies and cutting-edge technologies for any government sector or industry to ensure continuity of mission-essential functions during an emergency. http://www.telecomsys.com/government/Coop_overview.cfm-- The TCS TEM solution equips managers with tools to organize and reduce telecom expenditures. TCS TEM increases visibility and cost efficiency, empowering managers to introduce newer telecom technologies and redirect resources to other pressing needs. http://www.telecomsys.com/government/TelecomExpMgmt.cfmAbout TeleCommunication Systems, Inc.
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) produces wireless data communications technology solutions that require proven high levels of reliability. TCS provides wireless and VoIP E9-1-1 network-based services, secure deployable communication systems, engineered satellite-based services, and commercial location applications, like traffic and navigation, using the precise location of a wireless device. Customers include leading wireless, cable MSOs, and VoIP carriers around the world, and agencies of the U.S. Departments of Defense, State, and Homeland Security. For more information, visit www.telecomsys.com.
Except for the historical information contained herein, this news release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. These statements are subject to risks and uncertainties and are based upon TCS' current expectations and assumptions that if incorrect would cause actual results to differ materially from those anticipated. Risks include the possibility that not that all of the potential revenue under the contracts will be realized, given federal contract provisions allowing for termination for convenience, and those detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended December 31, 2007.
Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update or revise the information in this press release, whether as a result of new information, future events or circumstances, or otherwise.
SOURCE: TeleCommunication Systems, Inc.
Copyright 2008 Market Wire, All rights reserved.
LCI (2.10) Lannett Company to Remain a Major Marketer of Digoxin TabletsLANNETT INC LCI | 4/30/2008 7:57:01 AMPHILADELPHIA, Apr 30, 2008 (BUSINESS WIRE) --
Lannett Company, Inc. (AMEX:LCI) today said it will continue to market its Digoxin Tablets and that the company's Digoxin product is not subject to the recent FDA announced recall of Digitek(R), the brand version of Digoxin Tablets. Lannett's Digoxin product is manufactured by Jerome Stevens Pharmaceutical and has never been subject to recall.
"We are working with the FDA to ensure that there will not be a disruption in the supply of this important medication," said Arthur Bedrosian president and chief executive officer of Lannett. "Our supplier has begun ramping up production of Digoxin Tablets, 0.125 mg and 0.25 mg, and we expect to meet the anticipated demand."
Digoxin is indicated for the treatment of mild to moderate heart failure as well as for the control of ventricular response rate in patients with chronic atrial fibrillation.
About Lannett Company, Inc.:
Lannett Company, founded in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of indications. For more information, visit the company's website at www.lannett.com.
This news release contains certain statements of a forward-looking nature relating to future events or future business performance. Any such statements, including, but not limited to, projected sales estimates, developing and filing product candidates, distribution and commercialization of products, are subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated due to a number of factors which include, but are not limited to, the difficulty in predicting the timing or outcome of FDA or other regulatory approvals or actions, the ability to successfully commercialize products upon approval, Lannett's estimated or anticipated future financial results, future inventory levels, future competition or pricing, future levels of operating expenses, product development efforts or performance, and other risk factors discussed in the company's Form 10-K and other documents filed with the Securities and Exchange Commission from time to time. These forward-looking statements represent the company's judgment as of the date of this news release. The company disclaims any intent or obligation to update these forward-looking statements
XIN (8.70) Xinyuan Real Estate Subsidiary Acquires Two Parcels of Land in Zhengzhou, ChinaXinyuan Real Estate Co LtdXIN | 4/30/2008 7:45:00 AMBEIJING, April 30, 2008 /Xinhua-PRNewswire via COMTEX News Network/ --
Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a fast-growing residential real estate developer with a focus on strategically selected Tier II cities in China, today announced that Zhengzhou Jiantou Xinyuan Real Estate Co., Ltd. ("Jiantou Xinyuan"), Xinyuan's 45% owned subsidiary, has acquired two adjoining parcels of land in Zhengzhou, the capital city of central China's Henan Province.
Jiantou Xinyuan paid a total of RMB253.2 million for the unencumbered land use rights for the two parcels, which offer a combined total site area of approximately 81,345 square meters. Based on pre-planning of the proposed development projects, Jiantou Xinyuan is expected to generate an estimated gross floor area of approximately 194,177 square meters from the properties.
"We are excited to be a part of yet another quality development in Zhengzhou," said Mr. Yong Zhang, Xinyuan's chairman and chief executive officer. "Our business model has been successful in Zhengzhou and its proven results have contributed to our strong brand recognition. The newly acquired land is located next to one of Xinyuan's developments under construction and we look forward to delivering another quality residential community to the people of Zhengzhou."
About Xinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. ("Xinyuan") (NYSE: XIN) is a fast-growing developer of large scale, quality residential real estate projects aimed at providing middle-income consumers with a comfortable and convenient community life. Xinyuan focuses on China's Tier II cities, characterized as larger, more developed urban areas with above average GDP and population growth rates. Ranked #1 among all property developers in Zhengzhou in terms of contracted sales of residential units for the years 2004, 2005 and 2006, Xinyuan has expanded its network to cover a total population of over 34.5 million people in 6 strategically selected Tier II cities, including Chengdu, Hefei, Jinan, Kunshan, Suzhou and Zhengzhou. Xinyuan has completed 14 projects with a total gross floor area ("GFA") of over 1.0 million square meters within the past 10 years and as of December 31, 2007, Xinyuan had 8 projects under construction with a total GFA of 1.1 million square meters and 6 additional projects under planning with total GFA of 1.4 million square meters. With a focus on high asset turnover, efficient working capital management and strict cost control, Xinyuan is dedicated to bringing high-quality, affordable homes to China's middle-income buyers. For more information, please visit http://www.xyre.com .
About Zhengzhou Jiantou Xinyuan Real Estate Co., Ltd.
Zhengzhou Jiantou Xinyuan Real Estate Co., Ltd. ("Jiantou Xinyuan") is a joint venture established under PRC law, of which, 45% is held by Xinyuan, 50% held by Zhengzhou General Construction Investment Company and the remaining 5% held by Zhengzhou Jiantou Project Consulting Co., Ltd. Under the relevant joint venture agreement, Xinyuan shares the profit or loss of Jiantou Xinyuan according to its equity interest percentage. Since Xinyuan only holds a minority interest in Jiantou Xinyuan, it does not have full control over its operations.
Safe Harbor Statement
This announcement may contain forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Statements that are not historical facts, including statements concerning Xinyuan's beliefs, forecasts, estimates and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks that: any designs pre-planned by us or by Jiantou Xinyuan related to development projects of purchased properties may require modification, resulting in an increase or decrease in the gross floor area that we or Jiantou Xinyuan can develop from the properties; since we have a minority interest in Jiantou Xinyuan, we do not have full control of its operations and may not be able to control design modifications to its development projects or production schedules; if we do not maintain good relationships with our joint venture partners in Jiantou Xinyuan, our results of operations may be adversely affected; we or Jiantou Xinyuan may fail to obtain, or may experience material delays in obtaining necessary government approvals for any major property development, which will adversely affect our business; we or Jiantou Xinyuan may forfeit land to the PRC government if we or Jiantou Xinyuan fail to comply with procedural requirements applicable to land grants from the government or the terms of the land use rights grant contracts; if we are unable to successfully manage our expansion into other Tier II cities, we will not be able to execute our business plan; we face intense competition from other real estate developers; we may be unable to complete our property developments on time or at all; our results of operations may fluctuate from period to period; we are heavily dependent on the performance of the residential property market in China, which is at a relatively early development stage; the PRC government may adopt further measures to curtail the overheating property sector; PRC economic, political and social conditions as well as government policies can affect our business and other risks outlined in our public filings with the Securities and Exchange Commission, including our registration statement on Form F-1, as amended. All information provided in this press release is as of April 30, 2008. Except as required by law, Xinyuan undertakes no duty to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
For investor and media inquiries, please contact: In China: Ms. Lisa Wang Director of Investor Relations GM of Strategy, Investment and Finance Department Tel: +86-10-6598-1626 Email: lisa.wang@xyre.com Mr. Derek Mitchell Ogilvy Public Relations Worldwide (Beijing) Tel: +86-10-8520-6284 Email: derek.mitchell@ogilvy.com In the United States: Mr. Jeremy Bridgman Ogilvy Public Relations Worldwide (New York) Tel: +1-212-880-5363 Email: jeremy.bridgman@ogilvypr.comSOURCE Xinyuan Real Estate Co., Ltd.
http://www.xyre.com
BFRM (5.02) BioForm Medical Acquires Facial Aesthetic Nerve Ablation TechnologyBioForm Medical IncBFRM | 4/30/2008 7:50:00 AMTechnology designed to selectively weaken specific muscles may provide an attractive alternative treatment for frown lines
SAN MATEO, Calif., April 30, 2008 /PRNewswire-FirstCall via COMTEX News Network/ --
BioForm Medical, Inc. (Nasdaq: BFRM) announced that it has acquired substantially all of the assets of privately-held, Denver, CO based, Advanced Cosmetic Intervention, Inc. (ACI) and associated technology rights for $12 million cash, plus future royalties and a potential sales-related milestone. This acquisition provides BioForm Medical, a leading medical aesthetics company, with a commercially- available technology for local nerve ablation.
ACI's device, sometimes also referred to as the GFX device in prior media reports, is currently cleared via a 510(k) by FDA to create RF heat lesions in nerve tissue. The ACI device uses minimally-invasive bi-polar radiofrequency energy selectively to weaken nerve signal transduction with durable effects. The use of this technology on nerves that control the muscles of the forehead may reduce the appearance of frown lines, or glabellar furrows. BioForm Medical expects to conduct clinical studies specifically intended to support an FDA application seeking clearance to market this product for the treatment of frown lines. The Company expects to also seek a CE mark and certain other international registrations of the ACI device for aesthetics indications.
"We are building a leading medical aesthetics company. We believe this new treatment will offer patients an attractive alternative therapy for the treatment of frown lines. Many patients in our consumer research surveys have indicated that they choose not to receive neurotoxin treatment due to fear of losing facial expressions, or fear of injections with a toxin," stated Steven Basta, CEO of BioForm Medical. "We believe that the synergy of this product with our Radiesse dermal filler will be terrific. We have a differentiated, long-lasting filler, and in the coming years we hope to offer physicians a new treatment option for frown lines. This is part of our commitment to partnering with physicians to offer them improved aesthetic treatment options that can grow their practices. This device could appeal to many of the same physicians who select Radiesse dermal filler for their patients, and will leverage our existing sales and marketing organization."
In the acquisition of ACI, BioForm Medical will hire several of ACI's employees, and retain others as consultants to maintain continuity of this program and to accelerate future product development and commercialization activities. In addition to the up-front consideration, BioForm Medical will pay a single-digit royalty to ACI. The Company anticipates that significant positive revenue impact of this acquisition is not likely until it obtains clearance for the product for aesthetic applications, anticipated to occur in calendar year 2009.
BioForm Medical will discuss this transaction further on Thursday, May 1, 2008, when it reports its financial results for the quarter ended March 31, 2008, and holds a conference call with investors at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).
About the ACI Device & the Market for Treatment of Frown Lines:
The ACI device provides a minimally invasive technique for creating a focal lesion inhibiting the function of the target nerve. The product is comprised of a RF energy generator box, approximately the size of a small monitor, a sterile handheld probe and a foot pedal to activate energy delivery. The probe has two functions -- stimulating the nerve to identify the proper location for treatment, and delivering the heat energy in a measured dose to reduce activity of the targeted nerve. The minimally invasive procedure is conducted in physician's offices with local anesthesia, usually taking approximately 30 minutes. The probe tip is inserted under the skin and the correct nerve is identified through stimulation, which causes visible muscle contraction. The same probe delivers localized and controlled bi-polar RF energy for approximately 30 seconds to reduce nerve function. Commonly reported adverse effects include some pain or discomfort during the treatment, and swelling following the treatment. As with any medical procedure, other adverse outcomes may also occur.
Approximately 300 patients have received nerve ablation treatment with the ACI device worldwide, many in clinical studies intended to support development and evaluation of this device and procedure for aesthetics applications. BioForm Medical intends to further evaluate the ACI device in additional clinical studies worldwide and expects to launch the product commercially upon achieving appropriate regulatory clearances in each market.
Neurotoxin products, such as Botox(R) Cosmetic from Allergan, Inc., are the current leading option for treatment of frown lines. This needle- injection treatment typically provides a short-term (up to four months) effect. Neurotoxins are injected through the skin into the muscle. The neurotoxin keeps the muscle from moving, reducing the appearance of frown lines. Approximately three million treatments per year with Botox Cosmetic are performed in the U.S. annually according to the American Society for Aesthetic Plastic Surgery.
About BioForm Medical, Inc.:
BioForm Medical, Inc. is a medical aesthetics company headquartered in San Mateo, California. BioForm is dedicated to bringing doctors and their patients safe and effective products for use in the dermatology, plastic surgery and ENT markets. BioForm's products include Radiesse(R), a long-lasting filler for use in facial aesthetics and vocal fold insufficiency, and Coaptite(R) for treating female stress urinary incontinence which is marketed through a partnership with Boston Scientific Corporation. BioForm has licensed U.S. marketing rights to Aethoxysklerol(R), the worldwide leading sclerotherapy agent, which is currently being evaluated in a Phase III clinical trial. BioForm has also licensed BioGlue, a new surgical adhesive product for plastic surgery applications, which is being developed in a partnership with CryoLife, Inc.
Botox(R) is a registered trademark of Allergan, Inc,
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Specifically, statements concerning BioForm Medical's expectation that the new treatment will be cleared by the FDA and other international regulatory bodies for the treatment of frown lines or other aesthetic indications, and offer patients an attractive alternative therapy for such use, that the product will have synergies with the Company's Radiesse dermal filler, that the acquisition will lead to future product development and commercialization activities, and that the acquisition will result in significant positive revenue impact are forward-looking statements within the meaning of the Safe Harbor. Forward- looking statements are based on management's current, preliminary expectations and are subject to risks and uncertainties, which may cause BioForm Medical's actual results to differ materially from the statements contained herein. Further information on potential risk factors that could affect BioForm Medical's business and its financial results are detailed in its Form 10-Q for the quarter ended December 31, 2008 as filed with the Securities and Exchange Commission on February 7, 2008. Undue reliance should not be placed on forward-looking statements, especially guidance on future financial performance, which speaks only as of the date they are made. BioForm Medical undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made, or to reflect the occurrence of unanticipated events.
Contact: Adam Gridley 650.286.4025 Vice President, Corporate Development BioForm Medical, Inc.
SOURCE BioForm Medical, Inc.
http://www.bioformmedical.com/
Copyright (C) 2008 PR Newswire. All rights reserved
QGP (2.60) The Quantum Group Launches Industry-Leading Innovation Incentive ProgramThe Quantum Group IncQGP | 4/30/2008 7:00:00 AMEmpowers invention for the healthcare industry
WELLINGTON, Fla., April 30, 2008 /PRNewswire-FirstCall via COMTEX News Network/ --
The Quantum Group, Inc. (Amex: QGP, QGP.WSA, QGP.WSB) (www.QuantumMD.com) announced today that the Compensation Committee and Board of Directors have authorized a unique incentive approach, called the Quantum Innovation Incentive Program (QuIIP), to foster invention and further progress the culture of innovation among Quantum employees. The program, for which all active employees and consultants are eligible, provides significant financial rewards for inventions and innovations that help further Company initiatives to drive greater operational efficiencies and communications poised to revolutionize the healthcare industry.
The QuIIP program will be led by Pete Martinez, Senior Vice President and Chief Technology & Innovations Officer. Martinez noted, "The force behind our innovations is based on three Quantum principles: 'empower patients, enable healthcare providers and enrich the science of healthcare.' As a knowledge driven Company, Quantum's employees are adept at consistently pushing the envelope and looking for new methods to improve upon the efficiencies in healthcare. QuIIP now provides the fuel for us to strengthen our position as a leading force for introducing new and innovative solutions to enrich the healthcare industry by further empowering our employees to take action."
Martinez further noted that it is rare, if not unheard of, for a company in the healthcare services arena to create patentable inventions and processes. It is this innovative culture, which drove Martinez, a former IBM executive, to join the leadership team at Quantum in 2007.
Susan Darby Guillama, Executive Vice President and Chief Administrative Officer for The Quantum Group, leads cross-functional teams providing all support services for the ongoing growth and development of Quantum and each of its subsidiaries. She is responsible for attracting top talent to Quantum and has been the force behind the culture of the Company since its inception. Guillama stated, "Our culture of innovation and dedication to providing leadership in the industry is what has attracted the caliber of professionals in our ranks. The QuIIP initiative takes our culture to the next level by providing the proper incentive and tools to encourage our employees and consultants to take pen to paper and provide a vehicle for their ideas to come to life."
Guillama continued, "Through QuIIP, we expect to accelerate our ability to attract top talent in the U.S. to work in our dynamic environment. We attract QMates (as we refer to employees) with our philosophy - we work hard and play hard, and have combined this with a dedication to community service. With QuIIP, we strengthen our commitment to reward results well."
Mr. Martinez added, "Our nine provisional business process patent applications came as a direct result of our employees' commitment to innovation and the culture we have worked to foster at The Quantum Group." Martinez elaborated, "By providing for a share in royalties of each patented innovation that QMates create, I fully expect a number of our future inventions to evolve as the direct result of this program."
About The Quantum Group, Inc.
The Quantum Group provides business process solutions, service chain management, strategic consulting and leading edge technology innovations to the healthcare industry.
Through our dynamic patient-centric architecture, we empower the communication that is critical for the coordination of care and take aim at the $600 billion inefficiency gap in the United States healthcare industry. We are guided by a mission to develop efficiencies, improve the quality of patient care and achieve cost reductions for the nation's largest and fastest growing industry.
We have developed leading-edge technology with the creation and deployment of a series of innovative patent-pending initiatives. Through 1,900+ healthcare providers and multiple insurance company relationships under management, we are positioned to be a catalyst for change to the Florida healthcare industry.
Certain statements contained in this news release, which are not based on historical facts, are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995, and are subject to substantial uncertainties and risks in part detailed in the respective company's Securities and Exchange Commission 10-KSB, 10-QSB, S-8 and 8-K filings (and amendments thereto) that may cause actual results to materially differ from projections. Forward-looking statements can be identified by the use of words such as "expects," "plans," "will," "may," "anticipates," "believes," "should," "intends," "estimates" and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by these forward-looking statements. Such risk factors include, without limitation, the ability of the Company to properly execute its business model, to raise substantial and immediate additional capital to implement its business model, to attract and retain executive, management and operational personnel, to negotiate favorable current debt and future capital raises, to negotiate favorable agreements with a diversified provider base and to continue to supply the services needed by its HMO clients as well physician clients. The Company does not undertake any obligation to publicly update any forward-looking statements. There can be no assurance that the provisional patents discussed in this press release will be granted by the US Patent and Trademark Office, or, if they are granted, they will not be challenged by third parties, or if not that we will be able to effectively use or commercialize such patents and/or we may not have the resources to deploy such technology. As a result, investors should not place undue reliance on these forward-looking statements.
FOR MORE INFORMATION, PLEASE CONTACT: PR Financial Marketing Jim Blackman: 713-256-0369 jim@prfmonline.com or Danielle Amodio Vice President Corporate Communications The Quantum Group, Inc. 561.798.9800SOURCE The Quantum Group, Inc.
http://www.thequantumgroupinc.com
SHZ (4.11)China Shen Zhou Mining & Resources, Inc. Obtains Renewal of Fluorite Mining License in Inner MongoliaChina Shen Zhou Mining and Resources IncSHZ | 4/30/2008 7:30:00 AMBEIJING, April 30, 2008 /Xinhua-PRNewswire-FirstCall via COMTEX News Network/ --
China Shen Zhou Mining & Resources, Inc. (Amex: SHZ) ("China Shen Zhou", or "the Company"), a leading company engaged in the exploration, development, mining and processing of fluorite, zinc, lead, copper, and other nonferrous metals in China, today announced that it has received approval for the renewal of its mining license at one of its subsidiaries, Inner Mongolia Xiangzhen Mining Co., Ltd ("Xiangzhen Mining"), from the Bureau of Land and Resources, Wulanchabu City. The period for the renewed license is three years, starting April 2008.
Xiangzhen Mining owns a high-grade fluorite mine in China, Sumochaganaobao Fluorite Mine, located in Siziwangqi, Wulanchabu City, Inner Mongolia Autonomous Region.
"We are very pleased to obtain the renewed mining license for fluorite in Inner Mongolia, especially when we are enjoying a favorable pricing environment amidst robust demands for fluorite products in China," said Ms. Jessica Yu, CEO and Chairwoman of China Shen Zhou. "We are committed to taking advantage of our new extraction and processing capacity with the renewed license."
About China Shen Zhou Mining & Resources, Inc.
China Shen Zhou Mining & Resources, Inc., through its subsidiary, American Federal Mining Group ("AFMG"), is engaged in the exploration, development, mining, and processing of fluorite and nonferrous metals such as zinc, lead and copper in China. The Company has the following principal areas of interest in China: (a) fluorite exploration and extraction in the Sumochaganaobao region of Inner Mongolia; (b) zinc/copper/lead exploration, mining and processing in Wulatehouqi of Inner Mongolia; and (c) zinc/copper exploration, mining and processing in Xinjiang. In addition, AFMG owns 100% of Kichi- Chaarat Closed Joint Stock Company, whose major assets include a copper-gold mine located in the Kuru-Tegerek region of western Kyrgyzstan.
For more information, please visit http://www.chinaszmg.com/
Safe Harbor Statement
Certain of the statements made in the press release constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward- looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, fluctuation in mineral prices, risks associated with exploration and mining operations, and the potential of securing additional mineral resources, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
For more information, please contact: In China: Sterling Song Senior Investor Relations Manager China Shen Zhou Mining & Resources, Inc. Tel: +86-10-6887-2811 Email: investor@chinaszky.com Web: http://www.chinaszmg.com In the U.S.: Valentine Ding Investor Relations The Global Consulting Group Tel: +1-646-284-9412 Email: vding@hfgcg.comSOURCE China Shen Zhou Mining & Resources, Inc.
http://www.chinaszmg.com
ARTG (3.66) Mobile Commerce Innovator Wins First ATG e-Commerce Ingenuity Business Plan Competition
Wednesday, April 30 2008 - 7:35
ARTG $3.66 $-0.10 (%-2.66)
CAMBRIDGE, Mass.--(BUSINESS WIRE)--
ATG (Art Technology Group, Inc., NASDAQ: ARTG), the top ranked e-commerce platform and optimization services provider, today announced the winner of the first ATG e-Commerce Ingenuity Business Plan Competition.
MinuteBank was selected by the panel of judges as the $50,000 first place winner, and won over an audience of over 600 attendees as the $10,000 people's choice winner, selected by SMS voting live at the event.
As a mobile commerce (m-commerce) solution, MinuteBank plans to offer millions of mobile phone subscribers in developing nations a better way to manage their prepaid mobile phone plans. The solution is delivered as a new kind of bank account, a Personal Mobile Minute Account. This business plan focuses on a new potential market in m-commerce, whereby consumers use mobile phones to connect and transact. In emerging economies, where investment in the internet and accompanying hardware are beyond the means of both consumers and their governments, the mobile phone is fast becoming a leading medium for e-commerce.
MinuteBank founders are currently pursuing their MBAs at the UC-Berkeley Haas School of Business, and came together to fill an unmet need in the pre-paid mobile phone market, which is especially prevalent in developing nations like India.
Cliff Conneighton, ATG Senior VP of Marketing, said, "I want to congratulate MinuteBank and thank all of the other competition finalists for participating in this event. It's clear that a huge amount of thought and effort went into every one of their presentations. All the presenters have amazing things ahead of them. They are the next business leaders to watch."
Just prior to the finalist presentations, ATG e-Commerce Insight Live 2008 keynote speaker Hung LeHong, Research VP of Garntner research, spoke about the growing importance of mobile commerce, and e-commerce transactions on platforms other than PCs.
"We want to thank ATG and the participants at ATG Insight Live for giving us this opportunity. This was a really exciting event and a thrill to present," said Russell Tillitt, CEO of MinuteBank, who presented the plan. "This award is going to be so instrumental in taking MinuteBank to the next level," added Bethany Nelson, MinuteBank's COO.
ATG will be watching the development of MinuteBank and keeping track of its progress.
About ATG
ATG (Art Technology Group, Inc., NASDAQ: ARTG) provides the e-commerce platform and e-commerce optimization services that the world's most customer-conscious companies use to power their e-commerce Web sites, attract prospects, convert them to buyers and ensure their satisfaction so they become loyal, repeat, profitable customers. Our e-commerce suite is ranked the #1 current offering and #1 in strategy by the industry's most influential analyst firms, and powers more of the top 300 internet retailers than any other vendor. Our eStara brand of e-commerce optimization services - including the world's most widely used click to call offering - dramatically increase conversions and order size and enhance customer support. ATG's solutions are used by over 900 major brands, including AT&T, Best Buy, Bulgari, Coca Cola, Continental Airlines, CVS, Dell, Diane von Furstenberg, DirecTV, eLuxury, El Corte Ingles, Expedia, France Telecom, Harvard Business School Publishing, Hewlett-Packard, Hilton, HSBC, Intuit, Jenny Craig, Louis Vuitton, Macy's, Mercedes Benz, Meredith, Microsoft, Neiman Marcus, New York & Company, NutriSystem, OfficeMax, PayPal, Philips, Procter & Gamble, Sears, Sony, Symantec, Target, T-Mobile, Tommy Hilfiger, Urban Outfitters, Verizon, Viacom, Vodafone and Walgreens.
For more information about ATG, please visit www.atg.com.
(C) 2008 Art Technology Group, Inc. ATG and Art Technology Group are registered trademarks, and ATG Wisdom is a trademark of Art Technology Group, Inc. All other product names, service marks, and trademarks mentioned herein are trademarks of their respective owners.
This press release contains forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that may cause ATG's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Important risk factors affecting ATG's business generally may be found in its periodic reports and registration statements filed with the Securities and Exchange Commission at www.sec.gov. Risk factors related to the subject matter of this press release include the possibility that the ATG product deployment will not be successful, on time or significantly enhance the user's Internet experience or will not increase customer revenue across brands; that those customers leveraging ATG will not have the opportunity to increase revenue and decrease future costs; the need to adapt to rapid changes so products do not become obsolete; the possibility of errors in ATG's software products; the possibility that the solution will not make customer implementations faster or more flexible or permit the customer to meet its customer-facing or infrastructure requirements; that the ATG product will not continue to be integrated with third party applications servers or will not support all Web services enabled systems; that ATG's product strategy may change in the future; and the risks and costs of intellectual property litigation. ATG undertakes no obligation to update any of the forward-looking statements after the date of this press release.
Source: Art Technology Group, Inc.
DSCO (2.44) Discovery Labs-DSCO June straddle at $1.85 into PDUFA
DSCO closed at $2.44. DSCO's PDUFA date for Surfaxin (respirator distress syndrome) is expected on May 1, 2008. DSCO June 2.5 straddle is priced at $1.85 according to Track Data, suggesting large price movement.
AEZS (1.22)AEterna Zentaris: Lead Investigator for Cetrorelix Trials in BPH Wins Best Poster Presentation Award at European Association of Urology Meeting in Milan
Wednesday, April 30 2008 - 7:30
AEZS $1.22 $-0.02 (%-1.61)
QUEBEC CITY, April 30 /PRNewswire-FirstCall/ - AEterna Zentaris Inc. (NASDAQ: AEZS, TSX: AEZ), a global biopharmaceutical company focused on endocrine therapy and oncology, today announced that Prof. Frans M.J. Debruyne, M.D., Ph.D., Chairman and CEO of Andros Men's Health Institutes in The Netherlands, won the award for Best Poster Presentation in a Poster Session at the 23rd Annual European Association of Urology Meeting, which was held March 26-28, 2008 in Milan, Italy. Titled "LHRH antagonist cetrorelix for symptomatic BPH: Prolonged improvement beyond end of treatment in placebo-controlled trials." FMJ Debruyne, A.A. Gres, A. Bantschev, M. Tzvetkov, K. Grdovic, the poster referred to previously disclosed results from two Phase 2 trials with cetrorelix in benign prostatic hyperplasia (BPH), which showed a prolonged duration of effect extending far beyond the end of the short-term treatment course.
Prof. Jurgen Engel, Ph. D., Executive Vice President, Scientific Affairs at AEterna Zentaris commented, "We would like to congratulate Professor Debruyne for this prestigious award which acknowledges his significant contribution to the quality and achievements of our drug development program with cetrorelix in BPH. The data observed in these Phase 2 trials warranted our current extensive Phase 3 program with cetrorelix in this same indication and we look forward to presenting the results in Q3 2009, as stated previously. We believe cetrorelix could provide a novel, efficient, convenient and safe treatment for the millions of men with BPH."
THE POSTER
Introduction and Objectives
Preliminary studies indicated prolonged, unmaintained improvement in signs and symptoms of BPH after short courses of cetrorelix. Two placebo-controlled trials investigated two formulations of cetrorelix to determine the extent and duration of symptomatic improvement and to select the interval between courses for an intermittent treatment scheme.
Trial Design
Trial-A compared 3 regimens of subcutaneous cetrorelix acetate with placebo (35 patients/group): 5mg x 4, 7 days apart; 10mg x 4, 7 days apart; and 10mg x 2, 14 days apart.
Trial-B compared 4 regimens of intramuscular cetrorelix pamoate with placebo (30 patients/group, 14 days between doses): 30mg x 2; 30mg x 3; 60mg and 30mg; 60mg x 2. Patients were followed up for 20 and 28 weeks after the first dose in Trial-A and B, respectively. International Prostate Symptom Score (I-PSS) primary endpoint was assessed in 4-weekly intervals; other endpoints included uroflow, prostate size, and testosterone levels.
Results
In both trials, 4 weeks after first dose, all regimens showed a statistically significant reduction in I-PSS from baseline; at week 12, the difference from placebo was statistically significant for all dosage regimens except the 30mg x 2 in Trial-B (Trial-A: p<0.05; Trial-B: p <0.001). Generally, the improvement in I-PSS, which tended to be better in the higher dosage groups of Trial-B (reduction of 5-7 points, i.e. 30%-40%), was maintained throughout the follow-up period and was paralleled by an improvement in uroflow. A slight, dose-dependent reduction in prostate size was noticed in both trials. All dosage regimens tested were well tolerated, and none were associated with sexual side effects.
Conclusions
In both studies, a prolonged duration of effect extending far beyond the end of the short-term treatment course was observed. For the long-term management of BPH patients, the results from both studies support a 6-month interval between subsequent treatment courses.
About Cetrorelix
Cetrorelix is part of AEterna Zentaris' LHRH antagonist therapeutic approach that has demonstrated in Phase 2 studies to provide fast and long-lasting relief of BPH symptoms while being well tolerated, with a low incidence of sexual side effects. Both BPH studies of cetrorelix presented in Milan were chaired by Prof. Frans M.J. Debruyne, M.D., Ph.D., former President of EAU, now Chairman and CEO of Andros Men's Health Institutes in The Netherlands.
Cetrorelix peptide-based drugs were developed by the Company in cooperation with Nobel Prize winner Prof. Andrew Schally, currently of the U.S. Veterans Administration in Miami.
Cetrorelix acetate is marketed under the brand name Cetrotide(R), the first LHRH antagonist approved for therapeutic use as part of in vitro fertilization programs (controlled ovarian stimulation/assisted reproductive technologies) in Europe, the U.S. and Japan. It was launched on the market through Serono (now Merck Serono) in the United States, Europe and in several other countries, as well as in Japan through Shionogi.
About the Cetrorelix Phase 3 Program in BPH
Cetrorelix pamoate is being studied in three Phase 3 trials which will include approximately 1,500 men with symptomatic BPH in the United States, Canada and Europe. One Phase 3 efficacy trial, primarily in the United States and Canada and with additional sites in Europe, involves approximately 600 patients (which are fully enrolled) and is being led by Herbert Lepor, M.D., Professor and Martin Spatz Chairman of Urology, New York University School of Medicine, New York. In the trial, patients enter a no-treatment run-in observation period to confirm severity and stability of voiding symptoms based on the International Prostate Symptom Score (I-PSS). Patients are then randomly allocated to cetrorelix or placebo in a double-blind fashion. Patients are administered cetrorelix by intra-muscular (IM) injection at Week 0, 2, 26 and 28 and are followed up to Week 52. Then, in an open-label extension, patients will receive cetrorelix by IM injection at Week 52, 54, 78 and 80 will be followed up to Week 90.
A second, similarly designed multi-center Phase 3 efficacy study, being led by Prof. Frans M.J. Debruyne, M.D., Ph.D., from The Netherlands, will enroll approximately 400 patients in Europe. The third Phase 3 trial scheduled to start shortly, is an open-label, single-armed multi-center safety study involving approximately 500 patients in both North America and Europe, and is being led by Joel Kaufman, M.D., Associate Clinical Professor of Urology, University of Colorado School of Medicine, Denver, Colorado, and Urology Research Options, Aurora, Colorado.
The primary endpoint for both North American and European efficacy studies is the change in I-PSS between baseline and Week 52. Other efficacy endpoints include additional measures of BPH-symptom progression and the need for BPH-related surgery. Safety endpoints include changes in sexual function. Other important endpoints include plasma changes in levels of testosterone, and assessment of other adverse events.
The cetrorelix Phase 3 program is based on comprehensive clinical practice guidelines to ensure quality control, including input from expert advisors on study design, publishing results in peer-reviewed journals and discussion of the studies with regulatory agencies.
Benign Prostatic Hyperplasia
Benign prostatic hyperplasia (BPH) is one of the most common diseases of aging men - affecting more than 20 million men in the United States - but its etiology is far from being completely understood. Data from ongoing research suggest BPH and its associated lower urinary tract symptoms (LUTS) are more complex conditions than once thought. While previous research on BPH etiology tended to focus on testosterone and other hormones, more recent research suggests other factors may play a greater role in the development of BPH and LUTS - including inflammation, various growth factors, and adrenoreceptors.
BPH-associated LUTS include frequent urination and/or urgent need to urinate, waking at night to urinate (nocturia), difficulty starting urination and/or weak urinary stream, and feeling that the bladder is not completely empty after urination. While current therapies provide some efficacy in BPH they are often associated with troublesome sexual side effects.
About AEterna Zentaris Inc.
AEterna Zentaris Inc. is a global biopharmaceutical company focused on endocrine therapy and oncology, with proven expertise in drug discovery, development and commercialization.
News releases and additional information are available at www.aezsinc.com.
Forward-Looking Statements
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the U.S. Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of the Company to take advantage of business opportunities in the pharmaceutical industry, uncertainties related to the regulatory process and general changes in economic conditions. Investors should consult the Company's quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned not to rely on these forward-looking statements. The Company does not undertake to update these forward-looking statements. We disclaim any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except if we are requested by a governmental authority or applicable law.
SOURCE AETERNA ZENTARIS INC.
MEDE (1.53)MEDecision Enters Agreement With Blue Cross and Blue Shield of Florida
Wednesday, April 30 2008 - 7:30
MEDE $1.53 $0.19 (%14.18)
WAYNE, Pa.--(BUSINESS WIRE)--
MEDecision, Inc. (Nasdaq: MEDE), a leading provider of collaborative health care management solutions, today announced that it has entered into an agreement to deliver its Alineo(TM) Collaborative Health Care Management platform to Blue Cross and Blue Shield of Florida (BCBSF).
"We are very pleased to work with a health plan known as a leader," said MEDecision Founder and CEO David St.Clair. "Alineo will provide BCBSF with a simplified, smart and state-of-the-art solution that represents some of the most advanced technology of its kind currently available."
Alineo is a collaborative health care management platform for addressing case management, disease management and utilization management. Through an innovative, member-centric approach, it analyzes, applies and automates payer-driven best practices. Alineo enables health plans to streamline operational efficiencies, reduce waste and increase care quality by helping them optimally manage risk and compliance, enhance business agility and control costs.
BCBSF will implement Alineo in a two-phase process that will begin immediately and continue through 2009. MEDecision introduced Alineo on January 15 as its completely re-architected collaborative health care management platform comprising a series of individual components, including: Alineo Reporting, Alineo Correspondence, Alineo Automated Approvals, Alineo Clinical Criteria, Alineo Clinical Programs, Alineo Clinical Intelligence, Alineo Clinical Summaries and Alineo Care Management Analytics.
For more information, please visit www.MEDecision.com.
About MEDecision
MEDecision offers collaborative health care management solutions that provide a simplified and smart way to manage the health of members and member populations which can improve the quality and affordability of care. Based on state-of-the-art technology, MEDecision's solutions include Alineo(TM), a collaborative health care management platform for managing case, disease and utilization management and Nexalign(TM), a collaborative health care information exchange service. MEDecision believes that, in the aggregate, its health care payer customers insure or manage care for approximately one in every six people in the U.S. with health insurance. For more information, please visit www.MEDecision.com.
MEDecision is a trademark of MEDecision, Inc. The MEDecision logo and product names are also trademarks or registered trademarks of MEDecision, Inc. Other product and brand names are trademarks of their respective owners.
Stronger dollar, easing supply concerns sink oil prices
Wednesday April 30, 6:33 am ET
By George Jahn, Associated Press Writer
Oil prices slip below $115 per barrel, adding to steep slide in the previous session
VIENNA, Austria (AP) -- Oil prices slipped Wednesday, adding to their steep slide of more than $3 a barrel in the previous session on a strengthening U.S. dollar and data showing a dramatic drop in American fuel demand.
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Easing concerns about supplies also put a lower ceiling on prices.
Trading was cautious in Asia as market participants awaited the U.S. Federal Reserve's decision on interest rates later Wednesday.
Analysts believe a quarter percentage point rate cut is already factored into the oil market. A decision to hold rates steady could further strengthen the dollar, though, causing oil to continue its slide.
"The markets will now wait and see ... what's going to happen tonight, unless there's more news on the supply side," said David Moore, a commodity strategist with the Commonwealth Bank of Australia in Sydney.
Light, sweet crude for June delivery fell 67 cents to $114.96 a barrel on the New York Mercantile Exchange by midafternoon in Singapore. The contract fell $3.12 to settle at $115.63 a barrel Tuesday after the release of a monthly report from the U.S. Energy Department.
The data showed demand for finished petroleum products dropped 8.5 percent in February from January, and demand for gasoline fell 6.2 percent. Some of that drop can be attributed to February's being a shorter month, but it still suggests high prices are cutting America's appetite for fuel.
At the same time, supply concerns in some places are easing. A British refinery strike that caused the shutdown of a 700,000-barrel-a-day pipeline system ended Tuesday. Listing other bullish factors, Vienna's JBC Energy noted "talks under way to end the six-day strike at an ExxonMobil site in Nigeria and production in the North Sea being ramped up after the recent short-term closures of the Forties Pipeline system."
In the U.S., the Energy Department's weekly inventory report on Wednesday was also expected to show domestic crude supplies rose, according to analysts surveyed by Platts, the energy research arm of McGraw-Hill Cos.
U.S. crude oil inventories were expected to have risen 1.6 million barrels last week, with crude imports continuing to grow as refiners ramp up production, the Platts survey said.
Analysts projected a decline of 800,000 barrels in gasoline stocks and a 150,000-barrel build in stocks of distillates, which include heating oil and diesel, the survey showed. Refinery utilization was expected to edge up 0.3 percentage points to 85.9 percent.
The oil market is also expected to keep an eye on other key information releases later this week such as the U.S. Labor Department's payroll report, Moore said.
"Those things are going to be very important to the direction of the U.S. dollar and also perceptions of the strength of the U.S. economy, and therefore very important to the oil price," he said.
Commodities such as oil are less effective hedges against inflation when the dollar is gaining ground, and a stronger greenback makes oil more expensive to investors overseas. Analysts believe oil's run from $65 a year ago to a record near $120 on Monday has been fueled in large part by the dollar's protracted decline.
In other Nymex trading, heating oil futures were nearly flat at $3.252 a gallon while gasoline prices fell more than a penny to $2.9253 a gallon. Natural gas futures fell by more than 2 cents to $10.8 per 1,000 cubic feet.
Brent crude futures slid 43 cents to $113 a barrel on the ICE Futures exchange in London.
Associated Press Writer Gillian Wong contributed to this report from Singapore.
Time Warner net falls 36 pct; Will separate cable business
Wednesday April 30, 7:33 am ET
Time Warner's 1Q results down 36 percent following asset sale; plans cable spinoff
NEW YORK (AP) -- Time Warner Inc. reported a 36 percent decline in first-quarter profits Wednesday following an asset sale a year ago and said it would spin off the rest of its cable business.
The world's largest media conglomerate, which owns Warner Bros., AOL, CNN and Time magazine, earned $771 million or 21 cents per share in the first three months of the year, down from $1.2 billion or 31 cents per share a year ago.
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Revenues rose 2 percent to $11.42 billion from $11.18 billion.
The year-ago results were boosted by a gain on the sale of AOL's Internet access business in Germany.
Excluding one-time gains and losses in both periods, per-share results were 22 cents, in line with a year ago and a penny below the estimate of analysts polled by Thomson Financial.
Time Warner's latest results also included $116 million in restructuring charges related to consolidating its New Line Cinema movie studio into Warner Bros.
Analyst estimates normally don't account for such charges, which were equivalent to about 2 cents per share in the most recent period.
In premarket trading, Time Warner shares rose 8 cents to $15.35.
Time Warner had promised in February to deliver a verdict on the future of Time Warner Cable in its first-quarter earnings announcement.
Investors have long pressed Time Warner to simplify its sprawling corporate structure, and a spinoff of Time Warner Cable was seen by many as as highly desirable.
Time Warner had floated shares of its cable division just over a year ago, but held on to an 84 percent stake. Time Warner Cable is the No. 2 player in the industry after Comcast Corp. and is Time Warner's largest operating division by revenues.
The share offering came only after the completion of a drawn-out and complex three-way deal with Comcast to buy the assets of Adelphia Communications Corp., which was in bankruptcy.
FSLR > First Solar, Inc. Announces 2008 First Quarter Financial ResultsFIRST SOLAR
First Solar, Inc. (Nasdaq:FSLR) today announced its financial results for the first quarter ended March 29, 2008. Quarterly revenues were $196.9 million, down from $200.8 million in the fourth quarter of fiscal 2007 and up from $66.9 million in the first quarter of fiscal 2007.
Net income for the first quarter of fiscal 2008 was $46.6 million or $0.57 per share on a fully diluted basis, compared to net income of $62.9 million or $0.77 per share on a fully diluted basis for the fourth quarter of fiscal 2007. Net income for the first quarter of fiscal 2007 was $5.0 million or $0.07 per share on a fully diluted basis.
First Solar will discuss these results and expected results for fiscal 2008 in a conference call scheduled for today at 5:00 a.m. PDT (8:00 a.m. EDT). Investors may access a live audio web cast of this conference call in the Investors section of the company's website at http://www.firstsolar.com. An audio replay of the conference call will be available approximately two hours after the conclusion of the call. The audio replay will remain available until Monday, May 5, 2008 at 8:59 p.m. PDT (11:59 p.m. EDT) and can be accessed by dialing 888-266-2081 or 703-925-2533 and entering access ID number 1227426.
About First Solar:
First Solar, Inc. (Nasdaq:FSLR) manufactures solar modules with an advanced thin film semiconductor process that significantly lowers solar electricity costs. By enabling clean renewable electricity at affordable prices, First Solar provides an economic alternative to peak conventional electricity and the related fossil fuel dependence, greenhouse gas emissions and peak time grid constraints.
The First Solar, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3052
For First Solar Investors:
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships, and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
FIRST SOLAR, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited) Three Months Ended -------------------- March 29, March 31, 2008 2007 --------- --------- Net sales $ 196,915 $ 66,949 Cost of sales 92,591 36,907 --------- --------- Gross profit 104,324 30,042 --------- --------- Operating expenses: Research and development 4,760 3,058 Selling, general and administrative 28,671 13,690 Production start-up 12,761 8,474 --------- --------- Total operating expenses 46,192 25,222 --------- --------- Operating income 58,132 4,820 Foreign currency gain (loss) 774 (270) Interest income 6,685 4,127 Interest expense, net (4) (201) Other expense (378) (167) --------- --------- Income before income taxes 65,209 8,309 Income tax expense 18,590 3,281 --------- --------- Net income $ 46,619 $ 5,028 ========= ========= Net income per share: Basic $ 0.59 $ 0.07 ========= ========= Diluted $ 0.57 $ 0.07 ========= ========= Weighted-average number of shares used in per share calculations: Basic 79,059 72,347 ========= ========= Diluted 81,607 75,392 ========= ========= FIRST SOLAR, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) (Unaudited) March 29, December 29, 2008 2007 ----------- ----------- ASSETS Current assets: Cash and cash equivalents $ 590,534 $ 404,264 Marketable securities - current 90,130 232,686 Accounts receivable, net 18,027 18,165 Inventories 58,559 40,204 Deferred project costs 1,219 2,643 Economic development funding receivable 897 35,877 Deferred tax asset, net - current 3,909 3,890 Prepaid expenses and other current assets 34,976 64,780 ----------- ----------- Total current assets 798,251 802,509 Property, plant and equipment, net 529,390 430,104 Deferred tax asset, net - noncurrent 51,583 51,811 Marketable securities - noncurrent 28,340 32,713 Restricted investments 27,113 14,695 Goodwill 33,829 33,449 Other assets - noncurrent 8,653 6,031 ----------- ----------- Total assets $ 1,477,159 $ 1,371,312 =========== =========== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 167,063 $ 132,366 Short-term debt -- 24,473 Current portion of long-term debt 17,673 14,836 Other current liabilities 43,008 14,803 ----------- ----------- Total current liabilities 227,744 186,478 Accrued collection and recycling liabilities 18,151 13,079 Long-term debt 70,210 68,856 Other liabilities - noncurrent 9,877 5,632 ----------- ----------- Total liabilities 325,982 274,045 Stockholders' equity: Common stock, $0.001 par value per share; 500,000,000 shares authorized; 79,698,283 shares issued and outstanding at March 29, 2008 80 79 Additional paid-in capital 1,100,633 1,079,775 Accumulated earnings 59,514 12,895 Accumulated other comprehensive (loss) income (9,050) 4,518 ----------- ----------- Total stockholders' equity 1,151,177 1,097,267 ----------- ----------- Total liabilities and stockholders' equity $ 1,477,159 $ 1,371,312 =========== ===========This news release was distributed by PrimeNewswire, www.primenewswire.com
SOURCE: First Solar, Inc.
First Solar, Inc. Jens Meyerhoff, Chief Financial Officer investor@firstsolar.com
Stock futures little changed ahead of Fed rate decision
Wednesday April 30, 7:05 am ET
By Joe Bel Bruno, AP Business Writer
Wall Street waits for Federal Reserve decision on interest rates, more economic data
NEW YORK (AP) -- Stock futures were little changed Wednesday as the market awaited the Federal Reserve's decision on interest rates and another batch of economic data.
The central bank is largely expected to again lower its benchmark fed funds rate, this time by a quarter point to 2 percent. However, many economists believe policymakers will signal their intention to put rates on hold in a bid to fight inflation.
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Ahead of the 2:15 p.m. EDT Fed decision, investors will also digest a series of economic reports. The Commerce Department is expected to report that the U.S. economy grew at an anemic annual rate of 0.3 percent in the first quarter, held back by the ongoing housing slump and declines in consumer and business spending.
In addition, the Chicago purchasing managers' index is expected to show more business contraction in the Midwest during April.
Dow Jones industrial average futures fell 33, or 0.31 percent, to 12,793. Standard & Poor's 500 index futures were down 3.60, or 0.26 percent, at 1,387.60, while Nasdaq 100 index futures shed 4.75, or 0.24 percent, to 1,934.25.
Bond prices were little changed in overnight trading. The yield on the benchmark 10-year Treasury note, which moves opposite its price, edged up to 3.83 percent from 3.82 percent late Tuesday.
Oil prices slipped, adding to their steep slide of more than $3 a barrel in the previous session on a strengthening dollar and data showing a dramatic drop in American fuel demand. Light, sweet crude for June delivery fell 22 cents to $115.41 a barrel in electronic trading on the New York Mercantile Exchange.
In corporate news, software maker SAP AG said its profit slipped in the first quarter because of its takeover of a software company along with a weaker dollar. However, sales were higher and it raised its 2008 outlook.
Meanwhile, Citigroup Inc. said late Tuesday it plans to sell $3 billion of common stock to boost its capital levels. The largest U.S. bank is raising more capital to offset more than $45 billion of write-downs and credit losses it has taken since June 30.
Overseas, Japan's Nikkei stock average fell 0.32 percent. In morning trading, Britain's FTSE 100 fell 0.40 percent, Germany's DAX index slipped 0.73 percent, and France's CAC-40 shed 0.32 percent.
New York Stock Exchange: http://www.nyse.com
Nasdaq Stock Market: http://www.nasdaq.com
TSM > Taiwan Semiconductor reports 49 percent rise in 1Q profit
Improved margins help Taiwan Semiconductor Manufacturing post better-than-expected 1Q profit
TAIPEI, Taiwan (AP) -- Taiwan Semiconductor Manufacturing Co., the world's largest contract chip maker by revenue, reported better-than-expected first-quarter net profit as its margins improved.
TSMC also expects steady second-quarter margins and revenue, as a stronger New Taiwan dollar is expected to partially offset a pickup in demand during a typically slow season, Chief Executive Rick Tsai said Tuesday.
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TSMC's net profit in the three months ended March 31 rose 49 percent to 28.14 billion New Taiwan dollars ($925.6 million), or 1.10 New Taiwan dollars per share, from 18.84 billion, or 0.71 a share, a year earlier.
Revenue in the first quarter rose 34.8 percent to 87.48 billion New Taiwan dollars from 64.9 billion a year earlier.
Analysts had expected TSMC to outperform rivals United Microelectronics Corp. and Singapore's Chartered Semiconductor Manufacturing Ltd. because of its diversified client base. They said TSMC's competitors likely suffered from seasonal weakness in demand and pricing pressures.
UMC reports first-quarter results Wednesday. Chartered Semiconductor reported a 62 percent drop in first-quarter net profit to $2.39 million from $6.33 million on higher research and development costs and payroll-related expenses.
TSMC expects second-quarter consolidated revenue of between 87 billion and 89 billion New Taiwan dollars, compared with 87.48 billion in the first quarter, Chief Financial Officer Lora Ho said.
Fed expected to cut key interest rates one more time
Wednesday April 30, 6:53 am ET
By Martin Crutsinger, AP Economics Writer
Many economists believe the Fed will cut a key interest rate one more time and then pause
WASHINGTON (AP) -- The Federal Reserve, which began the year aggressively fighting a severe credit crunch and economic weakness, may push the pause button after delivering perhaps one more quarter-point cut in interest rates.
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Fed Chairman Ben Bernanke and his colleagues were to wrap up a two-day meeting Wednesday and financial markets widely expected that the discussions will end with an announcement that the Fed will cut a key interest rate by a quarter-point.
That would be the seventh reduction in the federal funds rate since the central bank began battling against the credit squeeze and the growing possibility of a recession last September.
The Fed delivered two three-quarter-point moves and one half-point cut over an eight-week period from mid-January to mid-March that represented the central bank's most aggressive rate cuts in a quarter-century.
However, the central bank is expected to respond with a less aggressive quarter-point move at this meeting, in part because the financial turmoil seems to have eased and because there are growing concerns about inflation.
While there is some thought that the Fed might decide to forgo a rate cut, most analysts believe that the greater likelihood is a quarter-point move.
"My best guess is that they want to buy a little more insurance against an economy that looks like it is in recession," said Lyle Gramley, a former Fed board member with the Stanford Financial Group.
A quarter-point cut would move the funds rate to 2 percent, a full 3 percentage points below where it was on Sept. 18 when the Fed started cutting rates.
A quarter-point move would trigger a similar reduction in banks' prime lending rate, the benchmark for millions of consumer and business loans, which now stands at 5.25 percent.
The Fed's rate-setting Federal Open Market Committee, composed of Fed board members in Washington and regional Fed bank presidents, is split into two camps. One group is concerned that the severe credit crisis and prolonged housing slump could be pushing the country into a deep recession while a smaller faction is worried that the Fed could be running the risk of letting inflation get out of control even as the economy slows.
Whatever the Fed does at the conclusion of this week's meeting, private economists believe it will leave the door open for further rate cuts, seeking to avoid the mistake made at the October meeting when it sent a pause signal, only to have to backtrack.
"They made a big mistake after the October meeting, implying that they would pause, and then had egg all over their face when they had to begin cutting rates aggressively because the economy weakened more than they thought and the credit crisis turned out to be more severe," said David Jones, head of DMJ Advisors, a private economic consulting firm.
While leaving the door open this time for further rate cuts if needed, the Fed may well be done, many analysts believe, if financial markets continue to improve and the economy starts to rebound with the help of the previous Fed rate cuts and 130 million economic stimulus payments, which started showing up in Americans' bank accounts this week.
While many economists believe the country is in a recession, the expectation is that it will be a short one ending this summer. If that turns out to be correct, the Fed may hold rates steady for the rest of this year with the next move being a rate increase sometime next year when the economy is on sounder footing.
"The Fed won't start raising interest rates until the unemployment rate has peaked and started coming back down," said Mark Zandi, chief economist at Moody's Economy.com. He said he was looking for the jobless rate, now at 5.1 percent, to climb to 6 percent early next year before starting to fall.
GM reports 1st-quarter loss of $3.3 billion
Wednesday April 30, 7:10 am ET
By Dee-Ann Durbin, AP Auto Writer
GM reports 1st-quarter loss of $3.3 billion due to American Axle strike, weak US market
DETROIT (AP) -- General Motors Corp. says it lost $3.3 billion in the first quarter as strong overseas growth was dragged down by a strike at supplier American Axle and Manufacturing Holdings Inc. and weak U.S. sales.
The loss reported Wednesday for the January-March period also reflected one-time charges. It was much larger than its loss of $42 million, or 7 cents per share, in the same quarter a year ago.
GM says the two-month strike at American Axle has cost it $800 million and 100,000 vehicles. The strike has affected 30 GM plants.
GM's loss included a $1.45 billion charge to reflect a change in the value of GM's interest in GMAC Financial Services and $731 million to increase GM's liability in Delphi Corp.'s ongoing bankruptcy.
NTII (2.34) Neurobiological Technologies Reports Receipt of $2.0 Million Royalty Payment for Quarterly Sales of Memantine
Wednesday, April 30 2008 - 7:01
NTII $2.34 $-0.03 (%-1.27)
EMERYVILLE, Calif., April 30 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. (NTI(R)) (Nasdaq: NTII), today announced it has received approximately $2.0 million from Merz Pharmaceuticals GmbH (Merz) for sales by Merz and its marketing partners of Memantine for the treatment of moderate-to-severe Alzheimer's disease during the quarter ended December 31, 2007. Under an exclusive marketing agreement, NTI currently receives quarterly royalty payments on certain sales of Memantine by Merz and its marketing partners.
About Neurobiological Technologies, Inc.
Neurobiological Technologies, Inc, (Nasdaq: NTII) is a biopharmaceutical company focused on developing novel, first-in-class agents for central nervous system conditions and other serious unmet medical needs. The Company's most advanced product candidate, Viprinex(TM) (ancrod), is in phase 3 clinical testing as a novel investigational drug for treating acute ischemic stroke. Viprinex has multiple mechanisms of action and is specifically designed to double the time period that patients can be treated after the onset of a stroke. Acute ischemic stroke is one of the most prevalent, debilitating and costly diseases in the world for which there are few acceptable treatment options. NTI's pipeline also includes a phase 3 investigational drug for brain swelling and other drug candidates in early-stage development for Alzheimer's and Huntington's diseases.
SOURCE Neurobiological Technologies
CRWS (3.44) Crown Crafts Infant Products, Inc. Signs Licensing Agreement for Its Kimberly Grant Brand With C.R. Gibson, LLC
Wednesday, April 30 2008 - 7:00
CRWS $3.44 $0.04 (%1.18)
COMPTON, Calif., April 30 /PRNewswire-FirstCall/ -- Crown Crafts Infant Products, Inc., a Crown Crafts, Inc. company (the "Company") (Nasdaq: CRWS), today announced it has formalized a licensing agreement for its Kimberly Grant brand with C.R. Gibson, LLC. This new arrangement will mark an expansion of the Kimberly Grant brand beyond its roots as an infant bedding and nursery decor program.
C.R. Gibson will introduce a line of products including baby books, photo albums, keepsake boxes, calendars, brag books, growth charts and gift bags featuring several of the most popular designs from Kimberly Grant. Under the license agreement, these new products may be sold through a variety of retail channels, including the gift and specialty stores channel.
"We are excited to see the Kimberly Grant brand grow outside the infant bedding category. Kimberly Grant is a brand with a design aesthetic that easily translates to a wide variety of infant products," noted Nanci Freeman, President and CEO of Crown Crafts Infant Products, Inc. "We are pleased to be partnering with C.R. Gibson, a well-respected and creative company."
About Crown Crafts, Inc.
Crown Crafts Infant Products is a Crown Crafts, Inc. company. Crown Crafts is America's largest producer of infant and toddler bedding, bibs and bath items. The Company's products include licensed and branded collections as well as exclusive private label programs for certain of its customers.
About C.R. Gibson, LLC
C.R. Gibson, LLC, based in Nashville, Tennessee, is a leading designer, marketer and distributor of memory books, stationery, journals, paper tableware, photo albums, scrapbooks and other gift items that commemorate life's celebrations. C.R. Gibson's products are available at more than 10,000 gift retailers in the United States, Canada, and the United Kingdom.
SOURCE Crown Crafts Infant Products, Inc.
COIN >Converted Organics Inc. Appoints William A. Torello, Ph.D. as Director of Product Research and Development
Converted Organics Inc. (NASDAQ:COIN) announced today that it has appointed William A. Torello, Ph.D., as its new Director of Product Research and Development. Mr. Torello, who holds three patents in organic fertilizers and biological control products and methodology, has over three decades of expertise in all facets of plant and agronomic product research, including the development and evaluation of organic fertilizers, organic amendments, turfgrass species and varieties, and organic pest control materials.
"Bill's very impressive breadth of industry and academic experience make him exceptionally well-qualified to direct Converted Organics' cutting-edge research and development program," said Edward J. Gildea, President and CEO of Converted Organics Inc. "His expertise in turfgrass management and organic product development will enable him to make a tremendous contribution to the Company and accelerate our product pipeline."
"Joining Converted Organics is significant to me on both a professional and a personal level," said Bill Torello. "Since Converted Organics' core technology is focused on the rapid thermal composting of food waste, the global growth potential for this waste solution and the unique organic fertilizer products it generates is phenomenal. The fact that this technology also reduces land fill deposits and corresponding methane and carbon dioxide emissions fulfills my desire to see a rapid solution to an important environmental problem."
Dr. Torello, age 57, is a former Professor Emeritus in the Department of Plant and Soil Sciences at the University of Massachusetts, Amherst, where he directed the university's turfgrass management, research, teaching and outreach programs. In this capacity, Mr. Torello developed an extensive field and laboratory research program that encompassed turfgass variety evaluations, fertilizer and organic amendment trials, soil nitrogen fate, turfgrass biotechnology, and environmental stress projects. He also developed the first self-contained golf green system to recycle fertilizer and irrigation water, while eliminating any possible chemical contaminations.
Dr. Torello is also the founder and former Executive Vice President of EcoOrganics, Inc., a product development, testing and marketing company that patented a novel, new species of bacteria with strong anti-fungal activity, as well as a unique delivery system of bacteria and organic media via porous ceramic particles. Mr. Torello is the Senior Editor of the Journal of Turfgrass Management, as well as a widely published author, with over 100 agronomy-related scientific and industry publications to his credit. He is also the former President of Professional Turfgrass Consulting, a private consulting company focused upon the professional sport, lawn care and private estate markets.
About Converted Organics Inc.
Converted Organics (NASDAQ:COIN), based in Boston, MA, is dedicated to producing valuable all natural, organic soil amendment or fertilizer products through food waste recycling. The company uses proven, state-of-the-art technologies to create a product that helps grow healthier food and improve environmental quality. Converted Organics plans to sell and distribute its environmentally-friendly fertilizer products in the retail, turf management, and agribusiness markets.
Converted Organics' fertilizer products will be produced in both a dry pellet and liquid concentrate. Converted Organics' products have been tested in numerous field trials for more than a dozen crops with the result that, on average, the net value of the farmer's crop increased 11-16%, depending on the particular crop and product application. This is due, in part, to the disease suppression characteristics of the product, which reduce or eliminate the need for other costly, often toxic, crop protection applications. Increased use of nitrogen in commercial agriculture and turf grass applications, such as golf courses, has reduced the soil's ability to absorb nitrogen and other nutrients. Using the products produced by Converted Organics helps restore the soil by replenishing these micronutrients. This reduces the amount of nitrogen required in a virtuous cycle that benefits from long-term use. As a result, use of the product will reduce chemical run-off to streams, ponds and rivers, an objective with significant long term benefits to the environment.
The products have a long shelf life compared to many other organic fertilizers. In a number of lab and field trials, the liquid product has been shown to be effective in mitigating powdery mildew, a leaf fungus that effects most plants and grasses and restricts the flow of water and nutrients to the plant. The Company's fertilizer products can be used on a stand-alone basis or in combination with more traditional fertilizers and crop protection products. Converted Organics expects to benefit from increased regulatory focus on organic waste processing and on environmentally-friendly growing practices.
This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company's beliefs, assumptions and expectations of our future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, including those events and factors described in "Risk Factors" in the prospectus, not all of which are known to the Company. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these statements. The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company's business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward-looking statements.
COIN-G
Source: Converted Organics Inc.
DENN (3.18) Denny''s --- Merriman Curhan Ford Upgraded to BUY (from Neutral)
Wednesday, April 30 2008 - 6:30
DENN $3.18 $0.02 (%0.63)