All indices rising
The Russell 2000 small-cap index and the Dow are posting small gains this afternoon. At 3:06 p.m. ET the Russell 2000 was up 1.44 points, or 0.17%, to 853.75. The Dow Jones Industrial Average had gained 50.57 points, or 0.37%, to 13,662.25.
Shares of LaserCard Corp. (Nasdaq: LCRD) are rising following news the maker of secure ID cards has received a $4.3 million order. The order is part of a previously announced subcontract for the supply of laser cards for a national ID card project in a Middle Eastern country, the Mountain View, Calif.-based company reported before the start of trading. Deliveries of this new order have already begun and are scheduled to continue through calendar 2007. Shares are up $0.40, or 4%, to $11.55.
Dyax Corp. (Nasdaq: DYAX) has filed paper for a proposed public offering of 9.5 million shares of its common stock. In connection with the offering, Dyax expects to grant its underwriters a 30-day option to purchase up to 1.425 million shares to cover over-allotments if any, the Cambridge, Mass.-based company said before the opening bell. It did not say how much it’s expecting in proceeds and how it plans to use the money. The stock has fallen $0.38, or 9%, $3.81.
Shares of Cambridge, Mass.-based ViaCell, Inc. (Nasdaq: VIAC) are up $0.35, or 6%, to $5.99, on news the biopharmaceutical firm has received approval from the U.S. Food and Drug Administration for a study of a medical device for use during assisted reproductive technology. The FDA had previously disapproved of the device known as ViaCyte. “We can now begin treatment of women previously consented to participate in the ViaCyte pivotal trial and we expect our U.S. sites to advance enrollment,” Vice President Karen Nichols said in a press release before market open. “We continue to expect to complete the trial in 2009.”
In economic news, mortgage lending giant Freddie Mac (NYSE: FRE) expects U.S. home sales in 2007 to fall to the lowest level since 2001, according to a forecast the company released today. Higher mortgage rates and tighter lending standards will make it difficult for buyers to finance purchases.
