Synovus Financial (NYSE:SNV) disappointed investors with a 423.7 million dollar net loss for the third quarter, or a dollar 27 per share. Results were pressured by just over 606 million dollars of total credit costs, including a provision expense of 496.5 million and foreclosed real estate costs of 101.4 million. A bright spot in the report was core deposit growth of 3.4% year over year. Synovus shares tumbled nearly 18% in Friday trading.
Ramtron International (RMTR), maker of semiconductor products, earned a penny per share in the third quarter, down from a nickel in the same quarter last year. Revenue plunged 33% year over year, but sales of serial memory products grew significantly quarter over quarter. On Friday shares of Ramtron were off more than 17 and a half percent.
And shares of Dynavax Technologies (NASDAQ:DVAX) were down more than 14% after reporting third quarter results. Revenue plunged 67% year over year, driven by lower collaboration revenue after the termination of the collaboration with Merck (NYSE:MRK) for Dynavax's lead product HEPLISAV. That led to a loss of 24 cents per share, compared to a 14 cent loss in the same quarter last year.
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