Thursday's Biggest Decliners
Apple Computer (NASDAQ:AAPL - News) shares slipped on renewed concerns about the company's options granting practices. U.K. newspaper The Financial Times reported that Chief Executive Steve Jobs was handed 7.5 million stock options in 2001 without the required authorization from the board. The FT report said records that purported to show a full board meeting had taken place to authorize the options were later falsified. The un-sourced report didn't say who falsified the report. Jobs later surrendered his options before they were exercised, implying that he did not gain any direct benefit from them, it added.
Security Bank Corp. (NASDAQ:SBKC - News) said it now sees operating earnings of $1.38 to $1.40 per share in 2006, below its previous forecast for a profit of $1.42 to $1.47 per share. The Macon, Ga., bank holding company cited recent deterioration in certain and acquisition development real estate loans for the shortfall. The company expects operating earnings of $6 million to $6.4 million, or 31 to 33 cents a share, for the fourth quarter. It added that it doesn't anticipate similar problems to become more widespread in 2007 and that the losses on these credits will be manageable "provided there is no further deterioration in the economy."
Sento (NASDAQ:SNTO - News) swung to a second-quarter net loss attributable to stockholders of 65 cents a share from earnings of 8 cents in the year-earlier period. The Salt Lake City provider of call-center services cited higher costs of sales after the termination of a client program.
Star Gas Partners (NYSE:SGU - News)said it's restating a net $200,000 from continuing operations for fiscal years 2004 through 2007, due to a previously announced assessment of derivative transaction accounting. Inter-period adjustments will be substantial the move will have no impact on liquidity or cash flows. The home-heating-oil distributor said it's committed to its operational turnaround taking place. It cannot predict when the audit of the restated financial statements by KPMG will be completed or when the partnership's fiscal 2006 Securities and Exchange Commission Form 10-K will be filed.
Tapestry Pharmaceuticals Inc. (NASDAQ:TPPH - News) named Donald Picker president. Picker was most recently executive vice president of R&D at Callisto Pharmaceuticals.
Threshold Pharma (NASDAQ:THLD - News) reported positive Phase II clinical-trial results for glufosfamide combined with gemcitabine to treat advanced pancreatic cancer. The cancer-treatments developer said 21% of patients in the clinical trial had a partial response.
By MarketWatch
Security Bank Corp. (NASDAQ:SBKC - News) said it now sees operating earnings of $1.38 to $1.40 per share in 2006, below its previous forecast for a profit of $1.42 to $1.47 per share. The Macon, Ga., bank holding company cited recent deterioration in certain and acquisition development real estate loans for the shortfall. The company expects operating earnings of $6 million to $6.4 million, or 31 to 33 cents a share, for the fourth quarter. It added that it doesn't anticipate similar problems to become more widespread in 2007 and that the losses on these credits will be manageable "provided there is no further deterioration in the economy."
Sento (NASDAQ:SNTO - News) swung to a second-quarter net loss attributable to stockholders of 65 cents a share from earnings of 8 cents in the year-earlier period. The Salt Lake City provider of call-center services cited higher costs of sales after the termination of a client program.
Star Gas Partners (NYSE:SGU - News)said it's restating a net $200,000 from continuing operations for fiscal years 2004 through 2007, due to a previously announced assessment of derivative transaction accounting. Inter-period adjustments will be substantial the move will have no impact on liquidity or cash flows. The home-heating-oil distributor said it's committed to its operational turnaround taking place. It cannot predict when the audit of the restated financial statements by KPMG will be completed or when the partnership's fiscal 2006 Securities and Exchange Commission Form 10-K will be filed.
Tapestry Pharmaceuticals Inc. (NASDAQ:TPPH - News) named Donald Picker president. Picker was most recently executive vice president of R&D at Callisto Pharmaceuticals.
Threshold Pharma (NASDAQ:THLD - News) reported positive Phase II clinical-trial results for glufosfamide combined with gemcitabine to treat advanced pancreatic cancer. The cancer-treatments developer said 21% of patients in the clinical trial had a partial response.
By MarketWatch
posted by Stock Administrator @ 11:52 AM
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