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Tuesday July 28, 2009
Cardiome Pharma Corp. (NASDAQ: CRME) today announced that it has earned a US$15 million milestone payment from its collaboration with Merck & Co., Inc., through an affiliate. The milestone was triggered by the submission, by Merck, of a Marketing Authorisation Application (MAA) to the European Medicines Agency (EMEA) seeking marketing approval for vernakalant (iv) in the European Union.
MakeMusic, Inc. (NASDAQ: MMUS) announced today the release of SmartMusic(R) 2010, a free update for all current subscribers of SmartMusic, the music learning software for band, orchestra and choir. A guided tour, demonstrating what’s new in SmartMusic 2010, can be viewed at the SmartMusic website.
Purple Communications((TM)), Inc. (Nasdaq: PRPL), one of the nation’s leading providers of text and video relay and on-site interpreting services today announced that Kelby Brick, Vice President of Regulatory and Strategy Policy will address one of the more pertinent issues in the Deaf and Hard-of-Hearing community — the ability to access the nations telecommunication infrastructure with the same ease as their hearing counterparts — or functional equivalency. Brick will address attendees at the Telecommunications for the Deaf and Hard of Hearing, Inc., (TDI), Professional/Motivational Luncheon on Friday, July 31, 2009 from 11:45 a.m. to 1:15 p.m. at the Mayflower Renaissance Hotel in downtown Washington, DC. Those interested in attending should visit TDI’s website, www.tdi-online.org for additional information. Tickets for the luncheon are $50 per person and must be purchased at http://www.tdi-online.org/pdfs/2009_TDI_Conf_Event_Form.pdf by Tuesday, July 28, 2009.
Infosys today announced that SABMiller, one of the world’s largest brewers, has selected Infosys Technologies (NASDAQ: INFY) to evaluate and improve the effectiveness of its in-store shopper marketing campaigns. SABMiller has chosen Infosys to conduct in-store projects leveraging the Infosys ShoppingTrip360 solution to analyze shopper and shelf activity around their beverage brands, helping improve the uptake of SABMiller products.
Alternative Asset Management Acquisition Corp. (NYSE Amex: AMV) announced that it has convened and then adjourned, without conducting any business, its Special Meeting of Warrantholders and its Special Meeting of Stockholders to vote on, among other things, the proposed warrant redemption and the transaction with Great American Group, LLC . The Special Meeting of Warrantholders and the Special Meeting of Stockholders will reconvene at 10:00 a.m. and 10:30 a.m. Eastern Time, respectively, on Thursday, July 30, 2009 at the offices of Ellenoff Grossman & Schole LLP, 150 East 42(nd) Street, 11(th) Floor, New York, New York.
Indiana Community Bancorp (Nasdaq: INCB), the holding company of Indiana Bank and Trust Company of Columbus, Indiana (the “Bank”), today announced a net loss for the second quarter of $2.8 million or $(0.93) diluted loss per common share compared to net income of $273,000 or $0.08 diluted earnings per common share for the second quarter of 2008. Year-to-date net loss was $2.4 million or $(0.89) diluted loss per common share compared to net income of $1.7 million or $0.50 diluted earnings per common share a year earlier. The second quarter was negatively impacted due to a $6.8 million provision for loan losses and the recognition of a $475,000 charge related to an FDIC special assessment which applies to all banks that have insured deposits. The Company increased the provision for loan losses due to an increase in net charge offs for the second quarter to $5.6 million and to increase the overall allowance for loan losses in light of the challenging economic cycle. Retail deposit growth remained strong for 2009 as retail deposits increased $71.5 million for the year. Retail deposits increased $29.9 million for the second quarter after increasing $41.6 million during the first quarter. As of June 30, 2009, shareholders’ equity was $88.9 million. The Company’s total risk based capital ratio was 13.16% which exceeded the threshold of 10.0% defined by the regulators as well capitalized. The Company’s tangible common equity to assets ratio was 6.76% at June 30, 2009. Executive Vice President and CFO Mark Gorski stated, “2009 has proven to be very challenging financially for our Company and for our customers. Despite these challenging times, our total capital of $88.9 million remains in excess of industry defined levels for well capitalized banks.” Chairman and CEO John Keach, Jr. added, “The actions taken this quarter and the resulting net loss, while not what we had hoped, will continue to protect and, in the long term, enhance our franchise value. Our capital levels remain strong and growth in retail deposits continues to strengthen our Company.”
Source: E-Gate System from Alphatrade.com
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