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InvestSource Inc.: Seattle Genetics Announces Initial Agreements with
Abbott Labs
(M2 PressWIRE Via Thomson Dialog NewsEdge)
RDATE:21042008
Stocks Making News: Circor International Inc. (NYSE: CIR), Dillard's
Inc. (NYSE: DDS), Medical Institutional Services Holdings, Inc. (OTCC:
MIHS), Fairfax Financial (NYSE: FFH), Abbott Laboratories (NYSE: ABT)
and Seattle Genetics (Nasdaq: SGEN).
April 21, 2008-Circor International Inc. (NYSE: CIR) raises Q1 EPS
guidance above consensus. Circor raises Q1 EPS guidance to $0.75-0.78,
excluding a $0.01 charge, vs $0.58 consensus, up from prior guidance of
$0.56-0.60. Co says, "Margins in both our Energy and Instrumentation &
Thermal Fluid Controls segments were much higher than expected due to
multiple factors including margins on some large projects, product &
business mix, volume and currency."
April 21, 2008-- Dillard's Inc. (NYSE: DDS) will explore all options
regarding CDI contractors. The Company announced that it has retained
Stephens to assist it in evaluating its options with regard to its
partial ownership interest in CDI Contractors, LLC. The company said it
does not plan to issue additional information to the public unless a
specific transaction is approved. CDI, a well known development firm
that was started to build Dillard's stores, had sales last year of
$432.9 million. With the death last year of CDI's founder, William
Edward Clark, Dillard's was able to buy the other half of the company
but also had discussed allowing CDI employees to buy the shares
instead. When Dillard's announced its fourth-quarter earnings last
month, it restated earnings as of Jan. 29, 2005, to record a profit
that had been underreported by CDI. Dillard's shares jumped $1.02, or
4.8 percent, to close at $22.40 Friday. Shares have traded between
$14.19 and $40.56 in the past 12 months.
April 21, 2008 -- Medical Institutional Services Holdings, Inc. (OTC:
MIHS) (MIHS) recently announced it has signed agreements with National
Distribution Contracting Company. This organization is designed to
narrow the gap between independent medical distributors and large
regional competitors in the area of pricing, products and promotions.
The relationship between distributors and manufacturers is enhanced
through competitive pricing. As a member of NDC, MIHS will be accessed
by purchasers in need of our many products. "The organization adds
tremendous strength to MIHS in the area of exposure to the marketplace
as well as buying power. Better wholesale prices will increase our
competitiveness and our net profits," said Ron Berman, MIHS President.
April 21, 2008--Fairfax Financial (NYSE: FFH) files universal shelf
prospectus to offer $1 bln in debt. The Company says the filing is
intended to replace Fairfax's existing shelf prospectus. It is expected
that upon a receipt being issued for the final short form prospectus,
FFH's existing shelf prospectus will be withdrawn. The shelf prospectus
will allow Fairfax to offer from time to time over a 25-month period up
to U.S. $1.0 billion of debt, equity or other securities.
April 21, 2008--Seattle Genetics (Nasdaq: SGEN) announced in an 8-K
that the company entered into the first amendment to development and
supply agreement with Abbott Laboratories (NYSE: ABT). SGEN recently
announced Seattle Genetics entered into the First Amendment to
Development and Supply Agreement (the "First Amendment") with Abbott
Laboratories ("Abbott") amending the Development and Supply Agreement
dated February 23, 2004 for manufacturing of the Co's SGN-30 monoclonal
antibody (the "Abbott Agreement"). The SGN-30 monoclonal antibody is
the antibody component of the Co's SGN-35 antibody-drug conjugate
product candidate. Under the terms of the First Amendment, Abbott has
agreed to perform GMP manufacturing of SGN-30 to support future
development activities and clinical trials of SGN-35. The Co's total
payments to Abbott under the First Amendment for manufacturing SGN-30
are expected to be ~$7.3 million. The First Amendment will be filed as
an exhibit to the Co's quarterly report on Form 10-Q for the quarter
ending June 30, 2008, with portions omitted and filed separately with
the Securities and Exchange Commission pursuant to a request for
confidential treatment.
What a difference a week makes, last week the S&P 500 tacked on a cool
4.3%, which is a bigger gain than it registered for all of 2007! It was
the Nasdaq, though, that led the action. With a gain of nearly 5.0%, it
registered its best one-week showing since August 2006.
ABOUT INVESTSOURCE, INC.:
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This opinion contains forward-looking statements that involve risks and
uncertainties. This material is for informational purposes only and
should not be construed as an offer or a solicitation to buy or sell
securities. InvestSource, Inc. has prepared all material herein based
upon information believed to be reliable. The information contained
herein is not guaranteed by InvestSource, Inc. to be accurate, and
should not be considered to be all-inclusive. The companies that are
discussed in this release have not given an opinion or approved the
statements made in this release.
InvestSource, Inc. is not a licensed broker, broker dealer, market
maker, investment banker, investment advisor, analyst or underwriter.
InvestSource, Inc. affiliates, officers, directors and employees may
also have bought, or may buy the shares discussed in this opinion and
may profit in the event of a rise in value. InvestSource, Inc. will not
advise as to when it decides to sell and does not, and will not, offer
any opinion as to when others should buy or sell; each investor must
make that decision based on his or her judgment of the market. Please
consult your broker before purchasing or selling any securities
mentioned herein. InvestSource has been compensated five million shares
of MIHS stock from a third party for services rendered. To view full
disclaimers, please go to http://investsourceinc.com/php/disclaimer.php
(disclaimers).
CONTACT: InvestSource Inc.
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