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The Chubb Corporation (NYSE:CB) announced that net income in the third quarter of 2010 was $572 million or $1.80 per share, compared to $596 million or $1.69 per share in the third quarter of 2009. Average diluted shares outstanding for the third quarter were 317.3 million in 2010 and 353.5 million in 2009.
Operating income, which the company defines as net income excluding after-tax realized investment gains and losses, was $537 million in the third quarter of 2010 compared to $552 million in the third quarter of 2009. Operating income per share increased 8% to$1.69 from $1.56. The impact of catastrophes in the third quarter of 2010 was $58 million pre-tax, compared with $22 million pre-tax in the third quarter of 2009. The impact of catastrophes on third quarter net income and operating income per share was $0.12 in 2010 and $0.04 in 2009.
The Chubb Corporation, through its subsidiaries, provides property and casualty insurance to businesses and individuals. Its Personal Insurance segment offers insurance products, such as automobile, homeowners, and other personal coverage products, as well as supplemental accident and health insurance. The company’s Commercial Insurance segment provides multiple peril, casualty, workers’ compensation, property, and marine insurance products.
Power3 Medical Products, Inc. (OTC:PWRM)
PWRM recently delivered four poster presentations at the 2010 ICAD. These presentations discussed PWRM’s diagnostic test, NuroPro, and focused on PWRM’s Alzheimer’s disease blood serum biomarkers, test and clinical validation trials.
“In preparation for commercialization, our objective at this meeting was to show how Power3 ’s protein biomarkers and blood tests provide superior solutions for diagnosis and drug response to improve the treatment of Alzheimer’s disease,” stated Dr. Ira L. Goldknopf, PWRM ’s President & Chief Scientific Officer. “It was gratifying to receive substantial attention to our posters from representatives of major pharma and clinical research institutions from around the world. They expressed surprise and enthusiasm for our findings, especially those relating to the methods by which Power3’s protein biomarkers indicate how patients respond to treatment with the three major anti-dementia drugs.”
“We are pleased that our blood tests specifically diagnose Alzheimer’s in patients, both pre- and post-treatment,” commented Helen R. Park, MS, CEO of PWRM, “and that our scientific collaborators, Dr. Marwan Sabbagh, Medical and Scientific Director of the Banner Sun Health Medical Research Institute, and Dr. Lourdes R. Bosquez, President of the Woodlands Behavioral Institute, Inc., presented along with us at the meeting in Hawaii.”
“We are within striking distance of realizing an Alzheimer’s clinical diagnostic tool which I hope will lead to a greater understanding of the disease and buoy the pace of future therapeutic interventions,” added Marwan Sabbagh MD, Medical and Scientific Director of Banner Sun Health Medical Research Institute.
PWRM has filed several patent applications that are currently pending for its NuroPro technology. PWRM also has a world-wide exclusive license from the Baylor College of Medicine in Houston, Texas. To date, PWRM has given 9 presentations on NuroPro at international scientific meetings in the United States, Europe and China. PWRM has also published 6 articles on NuroPro in peer-reviewed scientific journals. PWRM intends to publish these latest findings as well.
PWRM, a bio-technology company, engages in the development and marketing of diagnostic tests in the fields of cancer, and neurodegenerative and neuromuscular diseases in the United States. PWRM’s products include BC-SeraPro, a proteomic blood serum test for the early detection of breast cancer; and NuroPro, a serum test for the detection of neurodegenerative diseases, such as amyotrophic lateral sclerosis, Alzheimer’s disease, and Parkinson’s disease. PWRM ’s products analyze proteins and their mutations to assess an individual’s risk for developing disease later in life or a patient’s likelihood of responding to a particular drug; assess a patient’s risk of disease progression and disease recurrence; and measure a patient’s exposure to drug therapy. PWRM was formerly known as Surgical Safety Products, Inc. and changed its name to Power3 Medical Products, Inc. in September 2003. PWRM was founded in 1992 and is based in The Woodlands, Texas.
To learn more about PWRM visit: http://www.Power3Medical.com
Parker Hannifin Corporation (NYSE:PH) the global leader in motion and control technologies, announced that its Board of Directors increased the company's regular quarterly cash dividend to 29 cents per share of common stock and declared a dividend payable December 3, 2010 to shareholders of record as of November 10, 2010. This represents a 7 percent increase over the previous quarterly dividend of 27 cents per common share and is the company's 242nd consecutive quarterly dividend, resulting in a total distribution to shareholders of approximately $47 million.
Parker Hannifin Corporation manufactures fluid power systems, electromechanical controls, and related components. Its Industrial segment offers pneumatic and electromechanical components, and systems; filters, systems, and instruments to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors which control, transmit, and contain fluid; hydraulic components and systems for builders and users of industrial and mobile machinery, and equipment; critical flow components for process instrumentation, healthcare, and ultra-high-purity applications; and static and dynamic sealing devices.
VMware, Inc. (NYSE:VMW) the global leader in virtualization and cloud infrastructure, announced that VMware vSphere™ 4.0 and VMware vCenter™ Server 4.0 achieved Common Criteria certification at Evaluation Assurance Level 4 (EAL4+) under the Common Criteria Evaluation and Certification Scheme (NYSE:CCS). Common Criteria is an international set of guidelines (ISO 15408) that provides a common framework for evaluating security features and capabilities of Information Technology (NYSE:IT) security products, and EAL4+ is the highest assurance level that is recognized globally by all signatories under the Common Criteria Recognition Agreement (CCRA).
VMware, Inc. provides virtualization infrastructure software solutions and related support and services primarily in the United States. The company’s virtualization software solutions support a range of operating system and application environments, as well as networking and storage infrastructures. It provides VMware vSphere, a data center platform, which helps companies along the path of cloud computing by providing compatible IT infrastructures.
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