GTx Q3 Loss Narrows On Higher Revenues; Stock Surges On Tie Up With Merck [GTXI]
11/6/2007 11:09:55 AM Tuesday, GTx, Inc. (GTXI), a biopharmaceutical company, announced its third quarter financial results, posting a narrower loss compared to the year ago quarter, helped by increased revenues. Further, the company along with Merck has reached an accord to form a Global strategic collaboration for the development of novel investigational class of drugs to treat muscle loss and other musculoskeletal conditions. On the partnership news, GTx's stock surged and is currently trading above 9%.
Online jewelry retailer Blue Nile Inc. on Tuesday raised its full-year forecast and predicted fourth-quarter income of as much as 45 cents per share. 20 points swing after hour
CV Therapeutics 3Q loss is narrower than expectations November 06, 2007: 04:24 PM EST
NEW YORK, Nov. 6, 2007 (Thomson Financial delivered by Newstex) -- CV Therapeutics (NASDAQ:CVTX) Inc. reported a third-quarter net loss of $34.2 million, or 58 cents a share, narrower than the mean estimate of analysts surveyed by Thomson Financial of a loss of 62 cents a share.
Revenue rose to $19.8 million from $12.2 million in the same period a year ago, compared with analyst forecasts of $21.1 million.
Total costs and expenses for the quarter ending Sept. 30 fell to $53.7 million from last year's $76.3 million, and total cash utilized fell to $24.2 million from an adjusted $47.1 million a year ago.
The Palo Alto, Calif. biopharmaceutical company's stock closed Tuesday at $10.12. no activity AH
Headwaters EPS Beats Estimates Posted on Tuesday, November 06, 2007 1:00 PM Headwaters Inc (HW) opened at 13.93. So far today, the stock has hit a low of 13.38 and a high of 13.97. HW is now trading at 13.90, up 0.75 (5.38%). The stock hit its 52 week high of 25.44 in February and set its 52 week low of 12.96 in November. HW has been dropping for most of the past year. Headwaters reported today fourth-quarter adjusted earnings of $27.5 million helped by improved performance across all its business segments. The company posted a profit of 59 cents a share on revenue of $322.5 million, topping analysts' estimates for a profit of 52 cents a share, on revenue of $302.5 million. Technical indicators for the stock are bearish and steady. If you’re looking for a hedged trade on this stock, consider a December bull-put credit spread below the $12.50 level. HW stock could fall up to 10.1% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]
DryShips 3Q Profit Swells, Beats Views Associated Press 11.06.07, 5:43 PM ET Greek drybulk shipper DryShips Inc. said Tuesday its third-quarter earnings ballooned, beating Wall Street's expectations, on soaring charter rates for its vessels.
The company earned $103.5 million, or $2.92 per share, compared with $3.5 million, or 11 cents per share, in the year-ago quarter.
Adjusted to exclude a one-time gain from the sale of two vessels, the company earned $84.3 million, or $2.38 per share.
Voyage revenue more than doubled to $150 million from $60 million in the prior-year period.
Analysts expected a profit of $2.34 per share on revenue of $139.3 million, according to a poll by Thomson Financial
DryShips (nasdaq: DRYS - news - people ) attributed its soaring profit to the number of its vessels operating in the spot market, where charter rates have skyrocketed in the past year.
Shares fell $2.98, or 2.6 percent, to $113 in aftermarket electronic trading. Earlier, the stock rose $10.06, or 9.5 percent, to close at $115.98 in the regular session.
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