Blog - Page 3729 of 5592

MondayMay 24, 2010 6:46 am

Manas Petroleum Corp. (MNAP.OB) Posts Q1 Results

Manas Petroleum Corp. recently filed and posted its first-quarter results for the three months ended March 31, 2010. The company reported net income of $83.0 million as compared to a net loss of $2.20 million for the first quarter of 2009. Manas Petroleum attributes the increase mainly to the $57.8 million gain from the sale of Manas Adriatic GmbH and a change in fair value of investment in associate of $28.8 million. Manas' operating expenses for the first quarter increased to $3.2 million as compared to $2.5 million for the same period in 2009. The company attributes the 29 percent…

MondayMay 24, 2010 6:44 am

Sorrento Therapeutics, Inc. (SRNE.OB) Receives Grant to Support Development of Staph Fighting Therapeutics

Sorrento Therapeutics Inc. Friday announced that it has received an Advanced Technology Small Business Technology Transfer Research (STTR) grant from the National Institute of Allergy and Infectious Diseases to assist Sorrento in its programs to generate and develop novel antibody therapeutics and vaccines to against Staphylococcus aureus (staph) infections. Phase I of the grant is for $300,000 annually for two years, with the possibility of phase II funding of $1 million per year for up to three years thereafter. According to the Centers for Disease Control and Prevention, in 2005 about 94,000 serious staph infections occurred in the U.S., resulting…

FridayMay 21, 2010 3:47 pm

Keyuan Petrochemicals, Inc. (SVPE) Reports Large Jump in Net Income and Revenue

Keyuan Petrochemicals, Inc. reported net income of $6.7 million in the first quarter of 2010, compared to a net loss of $8.8 million in the last quarter of 2009. Keyuan Petrochemicals, Inc. reported revenue of $117.4 million in the first quarter of 2010. The company had no revenue in the first quarter of 2009 as it began operations in October 2009. Revenues in the final quarter of 2009 came in at $68.7 million. Keyuan Petrochemicals, Inc. sold 144,746 metric tons of different petrochemical products in the first quarter of 2010. This represented a large sequential increase from the 96,690 metric…

FridayMay 21, 2010 3:45 pm

Spherix Inc. (SPEX) Reports Progress On Phase 3 Trial for Diabetes Drug

Spherix Inc. reported progress on a Phase 3 clinical trial for its new drug to treat Type 2 diabetes and expects results in the third quarter of 2010. Spherix is developing D-tagatose, which is used to reduce blood sugar levels in patients suffering from Type 2 diabetes. D-tagatose works by decreasing glycogen utilization in the body, which leads to better control of blood sugar. Spherix has two clinical trials underway for D-tagatose with the Food and Drug Administration (FDA) under the Investigational New Drug Application (NDA) format with the agency. The company has a Phase 2 trial to evaluate D-tagatose…

FridayMay 21, 2010 2:18 pm

Financial Institutions Close Higher After Senate Bill Smoke Clears

The Senate passed H.R.4173 (The Wall Street Reform and Consumer Protection Act of 2009) yesterday releasing the steam valve at major financial institutions across the board - reflected by Friday’s buoying of stocks by midday at Goldman Sachs (4.1%), Bank of America (4.25%), Citigroup (2.89%), JPMorgan Chase (5.26%), Morgan Stanley (5.34%) and Wells Fargo (4.25%). The bill is still due to be reconciled with the House version of the bill, passed in December 09, primarily on account of the Senate version’s requirements, which would force big banks to forego as much as half of all trading revenue at the biggest…

FridayMay 21, 2010 2:15 pm

Citi Trends, Inc. (CTRN) Posts Record Breaking First Quarter Financials, Belying Strong Fundamentals and Market Position

Citi Trends, Inc., www.cititrends.com – an optimal-price urban fashion retailer focused on providing offerings for the entire family, which has a network of 420 stores in 24 states, disclosed record-breaking 1Q FY10 (ending May 1) results this week on Wednesday, May 19, 2010. Not only was the data so good it broke all of the Company’s 1Q records, it broke the record for any quarter in CTRN’s history: • Total Sales up 26.8% to $181.4M • Comparable Store Sales up 9.6% (a 2.2% gain from 1Q FY09 increase of 7.4%) • Net Income up 36.3% to $12.4M • EPS up…

FridayMay 21, 2010 1:48 pm

Amico Games (AMCG.OB) Keeping Stride with Expanding Phone Technology by Upgrading “Journey to the West Online” Graphics

Amico Games announced that it plans to upgrade the in-game graphics for its flagship product “Journey to the West Online.” Amico believes that this upgrade will enhance attractiveness to high-end Chinese mobile users. The game, based on the Chinese novel “Journey to the West,” is already one of Amico’s most profitable cell phone games with nearly 18 million users. Amico recognizes the constant technological advances with cell phones and wants to ensure that they are meeting or exceeding industry standards with their popular phone game. Mr. Peter Liu, CEO and President of Amico Games commented in the press release, "We…

FridayMay 21, 2010 1:11 pm

Kemet Corp. (KEME.OB) Up 590% Following QualityStocks Newsletter Coverage

Kemet Corp. is currently trading at $2 per share, up $0.10 or 5.26 percent for the day. The stock is down a bit from its 52-week high at $2.39, but the shares have held up fairly well in the stock market selloff. The shares have come a long way from the day it was initially mentioned in QualityStocks Free Daily Newsletter on April 2, 2009. At that time, Kemet was trading for only $0.29 a share. Investors who purchased the shares at that time have seen their investment grow by about 6 times! Kemet Corporation applies world-class service and quality…

FridayMay 21, 2010 11:31 am

eDoorways Corp. (EDWY.PK) Web 3.0 Tech Corner

eDoorways Corp. is a fast-growing vendor/consumer online network based on the idea that social networking and advanced search technologies represents a huge opportunity for vendor and consumer communication and interaction. The company is facilitating this interaction through its eDoorways platform. For more information on the company and its eDoorways platform, please visit www.edoorwayscorp.com. The eDoorways platform creates an immediate solutions network which connects local businesses with consumers in need of immediate answers, goods or services, with expert assistance. This network of people and small businesses offers immediate solutions on a level never before possible. This platform will not only save…

FridayMay 21, 2010 11:15 am

Richmont Mines Inc. (RIC) Finds Frugality and Prudence the Key to Solid First Quarter Returns

Occasionally a company will pop up that sends a message of some sort. On paper it appears solid and profitable but when considered a bit more closely sends a message of "what is happening here?" This is not a bad message in any way but one that causes an investor to wonder. These sorts of investments can be very profitable but are ones that bare closer scrutiny if a return is to be had. Richmont Mines Inc., a gold mining company, works to acquire, develop and exploit gold mining properties primarily in eastern Canada. The company holds primary interests in…

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