Utility storage company 3PAR (NYSE:PAR), disappointed investors today, lowering its revenue guidance range by approximately 5 million dollars, and projecting a loss of 3 to 4 cents per share. As a result of the continuing weak economy, 3PAR also lowered its guidance for its full fiscal 2010 year, and now expects non-GAAP earnings to be between break-even and 10 cents per share. 3PAR shares down 24% early Wednesday.
Biopharmaceutical company OXiGENE (OXGN) announced a 10 million dollar offering. Each unit offered comes with one share and a warrant to buy .45 shares; the offering price is a dollar 60 per unit, and the exercise price on the warrants is 2 dollars and 10 cents. OxiGENE shares down over 16%.
Also tapping the capital markets is Business Development Company Fifth Street Finance (FSC), announcing an offering of 6 and a half million common shares. Fifth Street said it will use the proceeds to repay outstanding borrowings under its credit facility, and use the remainder to invest in small and mid-sized companies. The company also gave guidance for net investment income of 34 to 36 cents per share in the quarter ending June, and said its net asset value would be approximately 11 dollars and 94 cents.
Shares were off about 5 and a half percent early Wednesday, trading below its net asset value, at 9 dollars and 34 cents per share.
And CoBiz Financial (COBZ) priced its previously announced offering at 4 dollars and 50 cents per share; that stock trading down over 8%, and trading below the offering price, at 4 dollars and 44 cents.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
X
Wait! Don't leave yet.
Want to receive our latest research absolutely free?
⤹
Click the button below for your complimentary copy of Your Early Retirement Portfolio: Dividends Up to 8.7%—Every Month—Forever.
You'll discover the details on 4 stocks and funds that pay you massive dividends as high as 8.7%.