Power3 Medical Products Inc (OTCBB:PWRM.OB) signed a definitive agreement to acquire all of the stock of Rozetta-Cell Life Sciences, Inc. Power3 plans to effectuate the acquisition of Rozetta-Cell by merging Rozetta-Cell with and into Power3, with Power3 remaining as the surviving company in the merger. The acquisition of Rozetta-Cell is expected to be completed in October or November 2010.
Rozetta-Cell is a medical biotechnology company that focuses on the delivery and imaging of stem cells during therapy. The company has a robust intellectual property portfolio and has created numerous products for adult stem cell therapy that are ready for market globally. Rozetta-Cell also has several collaborations in process through which it is partnering with industry-leading adult stem cell research companies and adult stem cell vendors.
PWRM strives to become the premier biotechnology company specializing in the commercialization of proteomics IP for the diagnosis and treatment of disease by using cutting edge technologies, world class quality procedures and superior research methodologies. The Company will be guided in all of its dealings with its customers, partners, shareholders, associates and investors by the philosophy of best practices.
More about PWRM at: www.Power3Medical.com
Jabil Circuit, Inc. (NYSE:JBL) has intention to offer $300.0 million of senior unsecured notes due 2020 subject to market conditions.
JBL expects to use the net proceeds from the Offering to fund the repayment of a portion of its borrowings under the term loan portion of its senior credit facility
National Penn Bancshares, Inc. (Nasdaq:NPBC) reported net income available to common shareholders of $10.3 million, or $0.08 per diluted common share, for the third quarter of 2010 compared to a net loss of $5.5 million, or ($0.04) per diluted common share, for the second quarter 2010.
On an adjusted basis, net income totaled $12.0 million, or $0.09 per diluted common share, which represents an increase of 22% or $2.2 million compared to $9.8 million, or $0.08 per common share, for the second quarter of 2010. Third quarter adjusted net income excludes the impact of an after-tax unrealized fair value adjustment on National Penn’s traded trust preferred securities (Nasdaq:NPBCO).
StarTek, Inc. (NYSE:SRT) reported its financial results for the quarter ended September 30, 2010.
SRT reported third quarter 2010 revenue of $65.6 million and an operating loss of $4.1 million. The Company reported a net loss of $4.5 million, or $0.30 per share
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