Pre-market: Mitcham down on profit decline
Houston-based Mitcham Industries, Inc. (Nasdaq: MIND) expects to double its operating income in 2008, the supplier of seismic equipment to oil drillers said after Tuesday’s close. However, fourth-quarter fiscal 2007 profit fell due to a production design problem. Shares are down $0.09, or 0.56%, to $15.94.
Shares of pharmaceutical company Nuvelo, Inc. (Nasdaq: NUVO) are down despite news of successful drug trial results. The San Carlos, Calif.-based company announced this morning that a secreted protein currently in preclinical development helps patients with gastrointestinal problems. Shares are down $0.28, or 4.93%, to $5.40.
Biopharmaceutical company Telik, Inc. (Nasdaq: TELK) is still “underweight,” according to analyst Prudential Financial. This morning Prudential Financial said it is maintaining its rating and setting a target price of $3.50. Shares are down $0.28, or 4.93%, to $5.40.
San Francisco-based pharmaceutical company Vical Incorporated (Nasdaq: VICL) is up following news that a seasonal influenza vaccine boosted immune response better than an unformulated vaccine at the same dose. The company announced the results of an animal study this morning. Shares are up $0.35, or 7.25%, to $5.18.
Shares of San Jose-based time and frequency technology maker Symmetricom, Inc. (Nasdaq: SYMM) are down despite an announcement this morning of a new technology that makes more accurate noise measurements. Shares are down $0.15, or 1.81%, to $8.15.
Israeli video network infrastructure provider RADVISION (Nasdaq: RVSN) gained ground after news it received an order for its ProLab 3G-324M Test Solution. Shares are up $0.50, or 2.38%, to $21.49.
