Pre-market: Optium's outlook disappoints
Horsham, Pa.-based Optium Corp.’s (Nasdaq: OPTM) fourth quarter fiscal 2007 outlook fell short of Wall Street’s projections. The company expects net income to be between $0.08 per share and $0.11 per share, the supplier of high-performance optical subsystems said after Wednesday’s close. Analysts were looking for earnings of $0.17 per share. The stock is down $0.13, or 1%, to $15.69.
Shares of Critical Therapeutics, Inc. (Nasdaq: CRTX) are flat following news this morning that the Lexington, Mass.-based company has received approval from the U.S. Food and Drug Administration zileuton tablets, which treat asthma. The stock is at $2.66.
Shares of Encysive Pharmaceuticals Inc. (Nasdaq: ENCY) are sagging despite news after Wednesday’s close that the Houston, Texas-based company has received approval from Canada’s regulators for its treatment of primary pulmonary arterial hypertension. Shares are down $0.01, or 0.28%, to $3.59.
Nelsonville, Ohio-based Rocky Brands Inc. (Nasdaq: RCKY) has completed a private placement of $40 million in fixed rate senior notes, which will accrue at a fixed rate of 11.50% and are due on May 25, 2012, the footwear manufacturer said after Wednesday’s close. The company used the proceeds to repay all outstanding loans. Shares are up $0.13, or 1%, to $15.87.
Packaging materials manufacturer Kulicke and Soffa Industries, Inc. (NYSE: KLIC) is planning a private placement of up to $100 million of 5-year convertible subordinated notes, the Fort Washington, Pa.-based company announced after Wednesday’s close. It said it intends to use up to $40 million of the net proceeds of the offering to purchase shares of its common stock. Shares are down $0.07, or 1%, to $9.59.
Shares of Adaptec, Inc. (Nasdaq: ADPT) are up following news after Wednesday’s close that the Milpitas, Calif.-based storage products and software manufacturer has received a letter from Steel Partners II, L.P., its largest shareholder. Steel Partners writes that it is disappointed by the company’s recent performance but optimistic that it can return to profitability in the near future. Shares are up $0.09, or 2%, to $4.04.
