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MondayJul 26, 2010 11:09 am

Northwest Bancshares, Inc. (NWBI) Reports Higher Second Quarter Earnings for 2010

Northwest Bancshares, Inc. reported a doubling of net income in the second quarter of 2010 over the same quarter last year. The company earned net income of $16.1 million, or $0.15 per diluted share, in the quarter ending 6/30/2010, compared to net income of $7.3 million, or $0.07 per diluted share, in the corresponding quarter of 2009. Northwest Bancshares, Inc. also increased net income sequentially from the quarter ending 3/31/2010, when the company earned net income of $13.2 million, or $0.12 per diluted share. The management of Northwest Bancshares, Inc. reported growth in loans and deposits in the second quarter…

MondayJul 26, 2010 11:05 am

Delta Petroleum Corp. (DPTR) Signs Deal to Sell Non Core Assets

Delta Petroleum Corp. reported that it had signed an agreement to sell a group of assets to a private oil and gas company. Delta Petroleum Corporation will receive $130 million from the Wapiti Oil & Gas, L.L.C. for various properties located in Texas, Wyoming, Colorado and Nebraska. The company said that it considers the assets to be non-core to the company’s future growth and development. The sale is expected to close in August 2010. One of the reasons Delta Petroleum entered the transaction was so that it could reduce its leverage and increase liquidity. The company will now focus its…

MondayJul 26, 2010 9:52 am

Insight Imaging (ISGT.OB) Completes Major Acquisition

One company that is starting to capture the attention of investors is Insight Health Services Holdings Corporation ("Insight Imaging"). Located in Lake Forest, California, Insight Imaging has earned a stellar reputation as a provider of retail and wholesale diagnostic imaging services. Today, the company announced the acquisition of eight imaging centers. The acquisitions will be for imaging centers that will be located in Phoenix, Arizona, El Paso, Texas, and Las Cruces, New Mexico and will increase Insight Imaging’s sphere of influence. The news of these acquisitions comes on the heels of the young company’s previously announced sale of mobile imaging…

MondayJul 26, 2010 9:48 am

Micro Identification Technologies, Inc. (MMTC.OB) Ramping Up

Micro Identification Technologies Inc., developer of the revolutionary MIT 1000 patented microbial ID system, is targeting a rapidly growing market resulting from increased demands in the areas of food safety, general health, and homeland security. The company has already produced the system for a number of high-end organizations, including the U.S. Department of Agriculture, the Japanese Ministry of Food Safety, and even a university in Malaysia, and recently announced the initiation of an internal expansion program. The expansion is made possible by a manufacturing contract with OSI Optoelectronics to produce the systems, and an equity placement agreement from the private…

MondayJul 26, 2010 9:36 am

Gold American Mining Corp. (SILA.OB) Video Chart for Monday, July 26, 2010

SILA had volume come pouring in last week as it saw a significant climb in price per share. Some key support and resistance levels are now established as we evaluate what to look for next from SILA. Please click the following link: http://www.qualitystocks.net/videocharts.php?chartvid_id=448 Let us hear your thoughts below:

MondayJul 26, 2010 8:57 am

Strength of Cellceutix, Inc. (CTIX.OB) Pipeline Results in Contracting of Destum Partners to Partner Psoriasis Compound

Cellceutix Corporation announced this morning that they have contracted acclaimed consulting firm, Destum Partners, to aggressively seek a partner to develop their compound, KM-133, for the treatment of psoriasis. Destum has a distinguished history of establishing partnerships in the biotechnology industry to meet the developmental needs for promising compounds. Cellceutix has been receiving notoriety recently with a series of press releases regarding Kevetrin, their compound in development for multi-drug resistant cancers, and KM-391, their compound for the treatment of the core issues of autism. Kevetrin is approaching Phase I human trials and has displayed extremely promising results in pre-clinical studies.…

MondayJul 26, 2010 8:11 am

Plaza Bank (PLZB.OB) Acquires Certain Assets and Assumes Certain Liabilities of SouthwestUSA Bank

On Friday, Plaza Bank announced that they acquired certain assets and assumed certain liabilities of SouthwestUSA Bank in a purchase and assumption agreement, including loss share arrangement, with the Federal Deposit Insurance Corporation. SouthwestUSA Bank is a Las Vegas, Nevada-based company. Today, the SouthwestUSA Bank branch will reopen as a branch of Plaza Bank. Depositors of SouthwestUSA Bank will automatically become depositors of Plaza Bank, and the FDIC will continue to insure deposits. Current SouthwestUSA Bank customers can continue to access their money through writing checks or using their current ATM or debit cards. Checks drawn on the Bank will…

MondayJul 26, 2010 8:07 am

BioMedical Technology (BMTL.OB) Expands Demolizer II Market with More Orders in Wyoming

BioMedical Technology Solutions, Inc. announced yesterday that the U.S. Department of Veterans Affairs has ordered an additional two Demolizer® Systems for facilities in the State of Wyoming. The Demolizer II, BioMedical’s flagship product, allows medical staff members to safely and inexpensively dispose of medical waste that would normally be subject to expensive medical waste hauling, and cradle-to-grave liability for the facility. A green solution to biomedical waste disposal, the Demolizer II patented treatment process uses dry heat technology, rendering waste 99.9999 percent sterile and sharps non-reusable. The treated waste is then properly labeled and thrown away as common trash. The…

MondayJul 26, 2010 7:52 am

NetSol Technologies, Inc. (NTWK) Inks Contract to Implement NFS CAP Solution with a Major U.S. Auto Manufacturer in China

NetSol Technologies, Inc., a worldwide provider of global IT and enterprise application solutions, announced this morning that it was awarded a major software and IT services contract valued more than $1 million with a major U.S. automotive manufacturer's captive finance arm in China. According to the press release, NetSol will provide its Credit Application Processing solution to fully automate point of sale (POS) functions in the client's Chinese dealer network as well as install its next-generation platform to capture all credit and client data at the point of sale to streamline and automate the entire credit application capture process. Naeem…

FridayJul 23, 2010 3:43 pm

Virginia Heritage Bank (VGBK.OB) Posts Q2 Results Exceeding Internal Projections

Virginia Heritage Bank today posted its financial results for the second quarter ended June 30, 2010, with numbers surpassing initial internal forecasts. The bank reported second-quarter net income before taxes of $960,000, up from $265,000 for the same period in 2009. The company attributes the increase in net income primarily to the $1.1 million increase in net interest income representing strong balance sheet growth. Virginia Heritage reported significant balance sheet growth with total assets of $405 million at June 30, 2010, representing an increase of $114 million compared to total assets at June 30, 2009. Total gross loans were $344…

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