Biolase hits 20-mo. low on Q3 warning
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NEW YORK (CBS.MW) -- Shares of Biolase Technology Inc. took a dive to a 20-month low Thursday after the maker of lasers used in dental procedures warned that it would report a third-quarter loss and lower-than-anticipated revenue.
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The biopharma's outlook is cloudy due to stiffer competition in biomanufacturing.
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Biopure Corp. is running out of money -- again. Recent regulatory filings, including one yesterday, show the Cambridge blood-substitute developer seeking the financial flexibility it says it will need to keep operating after January. That's when it expects to use up the $7 million it raised through a stock sale in September.
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Standard &amp; Poor&#39;s Equity Research reiterated a &quot;hold&quot; rating and $68 target price on Biogen Idec (nasdaq: BIIB - news - people ), saying the anticipated success of the company&#39;s Antegren drug is largely factored into the share price.
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Merrill Lynch downgraded Chiron (nasdaq: CHIR - news - people ) to &quot;sell&quot; from &quot;neutral&quot; after news reports indicated a flu vaccine from GlaxoSmithKline (nyse: GSK - news - people ) could be approved by the US Food and Drug Administration as early as
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The consumer products conglomerate warns of lowers sales and profits.
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Wall Street was set for a soft start on Tuesday after a batch of downbeat earnings, including a sales warning from chipmaker Advanced Micro Devices  ahead of an update from sector bellwether Intel .
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A low P/S ratio can point to undervalued companies.
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(Corrects Reuters Estimate figure in 4th paragraph to $1.20
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By Sabine Vollmer, The News & Observer, Raleigh, N.C.  Feb. 13--Cornerstone BioPharma is trying to bounce back after layoffs cut the Cary company's work force in half.
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The chip maker now expects revenue of between $8.3 billion and $8.6 billion due to lower-than-expected worldwide demand for its processors as well as "customer reductions in component inventory levels."
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LONDON, October 6  - AstraZeneca (AZN.ISE) has delayed the regulatory approval filing target for its diabetes drug, Galida, from 2006 to 2007, while admitting that its anti-blood clotting drug, Exanta, was unlikely to receive the US
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MGP Ingredients issues an earnings warning as low-carb sales plateau.
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The company posted a strong third quarter, but a less optimistic outlook has its shares near its 52-week low.
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Third quarter U.S. corporate earnings are expected to show a lower increase next week, weighed down by consumer and financial sectors, Reuters Estimates said on Monday.
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Schering-Plough Corp  on Monday reported third-quarter profit and sales that fell short of Wall Street's target, sending shares down more than 10 percent amid concerns about its flagship cholesterol drugs.
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Business & money: Â· Credit crunch creates Â£210bn backlog of buyouts Â· US sub-prime crisis claims more jobs and firms