BP Plc (NYSE: BP): Shares of the British energy giant fell more than 2% on Wednesday after the company said that it is delaying testing on a newly-installed cap over its leaking oil well in the Gulf of Mexico to allow scientists more time to examine the procedure to measure levels of pressure.
Keryx Biopharmaceuticals, Inc. (NASDAQ: KERX): Shares of the company jumped as much as 14% after it announced that KRX-0401 (perifosine) has received Orphan Drug designation from the U.S. Food and Drug Administration (FDA) for the treatment of neuroblastoma, a cancer of the nervous system affecting mostly children and infants for which there are no FDA approved therapies. Orphan drug designation is granted by the FDA Office of Orphan Drug Products to novel drugs or biologics that treat a rare disease or condition affecting fewer than 200,000 patients in the U.S.
Amtech Systems, Inc. (NASDAQ: ASYS): Shares of the solar equipment supplier surged as much as 10% after it posted record third-quarter preliminary revenue of $42 million , a 161% increase over the preceding quarter and 227% increase over the third quarter of fiscal 2009. The company also reported record fiscal third quarter bookings of approximately $44 million.J.S. Whang, Chief Executive Officer of Amtech, commented, "Our strong preliminary revenue for the third quarter further demonstrates our market leadership in solar diffusion and our operational capability to manage and service this high growth market. With our continued success in expanding our solar market share with an increasing number of top tier solar customers, we recorded a record number of orders for a third quarter. As planned, we have ramped up operations to support our record-breaking order momentum and profitably manage our rapid growth."
HSW International, Inc. (NASDAQ: HSWI): Shares of the company soared more than 100% on Wednesday after the Atlanta, Georgia-based company announced a content distribution and branding relationship for its BoWenWang website with NetEase (NASDAQ: NTES) , one of China's largest web portals with over 500 million page views per day.
Whitney Holding Corporation (NASDAQ: WTNY): Shares of the company slumped more than 14% on Wednesday after it said that it expects to record a provision for credit losses in the second quarter of 2010 ranging between $57 million and $62 million. The company said that majority of the second quarter's provision expense is related to ongoing issues in the commercial and residential real estate markets in Florida. The provision also reflects an increase in criticized loans during the second quarter in Texas and Louisiana, the establishment of a $5 million reserve for the impact of the oil spill on tourism in Gulf Coast beach communities, and a willingness to capitalize on the increasing opportunities to dispose of problem assets during the quarter and in the near term. Net charge-offs for the second quarter of 2010 are expected to be between $52 million and $57 million.
Cabot Microelectronics Corp. (NASDAQ: CCMP): Shares of the company slumped more than 5% on Wednesday after it announced that its operating expenses increased significantly in the third fiscal quarter, ended June 30, 2010, due to higher litigation costs. The company expects to report operating expenses, which include research, development and technical, selling and marketing, and general and administrative expenses, of approximately $34.5 million in the third fiscal quarter, or $2.4 million higher than the $32.1 million reported in the previous quarter.
Disclosure: Author doesn't own any of the stocks discussed here.
