BioCryst Pharmaceuticals (NASDAQ:BCRX) announced positive results from two Phase 3 studies on its treatment for seasonal flu, conducted in Japan, Korea, and Taiwan. BioCryst is now finalizing plans for studies intended to support U.S. regulatory approval, while at the same time working on a filing for regulatory approval in Japan. Shares surged 41% higher Friday morning.
Specialty chemicals company Cytec Industries (CYT) announced a second quarter loss of 52 cents per share, but only lost 1 cent after excluding special items. Although results are down from last year, investors were pleased to see quarter over quarter specialty chemicals sales growth of 18%, as well as month-to month improvement within the quarter. The company also made cost reductions that are expected to help the bottom line during the second half of the year. Cytec affirmed its full year earnings guidance of 60 to 90 cents per share, and declared a dividend of 1.25 cents per share. Shares rallied over 9% Friday morning.
Shares of Hi-Shear Technology (HSR) gained nearly 15% in early trading Friday, after announcing a cash dividend of 75 cents per share. The dividend represents an 8% yield on the current stock price.
Webster Financial (NYSE:WBS), the holding company for Webster Bank, announced net income of 16.8 million, or 31 cents per share for the quarter, and a consolidated loss of 31.6 million. The company completed an exchange offer during the quarter which increased common equity by about 170 million, and deposits in the bank grew by 480 million. Webster shares gained nearly 10% in early trading Friday.
Nevsun Resources (AMEX:NSU), featured in Tuesday's big gainers after announcing it received financing approval for new credit facilities, announced today that it has closed on those facilities. The 235 million dollar debt package is a combination of senior and subordinated loans, from a group comprised of seven different lenders. Nevsun shares up six and a half percent in early trading Friday.
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