Bank of America Corp shareholders have until November 12 to claim a piece of the $150 million settlement with U.S. securities regulators over the bank’s 2009 Merrill Lynch purchase, the fund’s administrator announced on Wednesday, Reuters reported. Bank of America Corp. (NYSE:BAC, $13.21, +$0.76, 6.08%) fell 0.44 percent to $13.15 on Thursday morning pre-market trading session, while on Wednesday, shares of Bank of America rose 6.08 percent, closed on $13.21 and BofA dropped 5.91 percent in the past one month trading.
California’s Orexigen Therapeutics Inc. and Japan’s Takeda Pharmaceutical Co. Ltd. today announced exclusive partnership agreement potentially worth over $1 billion. Orexigen will receive an upfront cash payment of $50 million from Takeda, and Takeda will obtain an exclusive marketing right from Orexigen in the United States, Mexico and Canada. Orexigen Therapeutics, Inc. (NASDAQ:OREX, $4.59, +$0.2, 4.56%) jumped 26.36 percent to $5.80 on Thursday morning pre-market trading session, even on Wednesday, Orexigen shares were up 4.56 percent, closed on $4.59.
Drug developer Cardiome Pharma Corp. said Thursday that it has earned a US$30 million milestone payment from its collaboration with Merck, after the Brinavess heart treatment received marketing approval in Europe. Cardiome Pharma Corp. (NASDAQ:CRME, $6.19, +$0.14, 2.31%) rose 12.76 percent to $6.98 on Thursday morning pre-market trading session, even on Wednesday, shares of Cardiome Pharma climbed 2.31 percent, closed on $6.19.
Logistics company UTi Worldwide Inc on Thursday reported its net income rose for the second quarter helped by helped by higher air and ocean freight volumes. UTi Worldwide reported second-quarter net income of $18.9 million, or 19 cents per share, compared with $11.8 million, or 12 cents per share, in the same quarter a year earlier. Revenue rose 37 percent to $1.15 billion from $840.50 million. UTi Worldwide Inc. (NASDAQ:UTIW, $14.34, +$0.34, 2.43%) jumped 6.42 percent to $15.26 on Thursday morning pre-market trading session, even on Wednesday, UTi Worldwide shares were up 2.43 percent, closed on $14.24.
Communications equipment provider Sycamore Networks Inc on Thursday reported a profit for the fourth quarter, after 10 straight quarters of losses, helped by a steep drop in operating costs. Sycamore Networks reported fourth-quarter net income of $0.52 million, or 2 cents per share, compared with a loss of $34.93 million, or $1.23 per share in the same quarter a year earlier. Revenue rose 29 percent to $22.23 million from $17.24 million. Sycamore Networks, Inc. (NASDAQ:SCMR, $22.22, +$0.3, 1.37%) rose 8.01 percent to $24.00 on Thursday morning pre-market trading session, even on Wednesday, shares of Sycamore Networks climbed 1.37 percent, closed on $22.22.
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