You need to upgrade your Flash Player
-$0.03 (-2.33%)
07:14PM (15 mins delay)
Oct 23, 2009 - 2:50 PM EDT
Synovus Financial (SNV) disappointed investors with a 423.7 million dollar net loss for the third quarter, or a dollar 27 per share. Results were pressured by just over 606 million dollars of total credit costs, including a provision expense of 496.5 million and foreclosed real estate costs of 101.4 million. A bright spot in the report was core deposit growth of 3.4% year over year. Synovus shares tumbled nearly 18% in Friday trading. Ramtron International (RMTR), maker of semiconductor products, earned a penny per share in the third quarter, down from a nickel in the same quarter last year. Revenue plunged 33% year over year, but sales of serial memory products grew significantly quarter over quarter. On Friday shares of Ramtron were off more than 17 and a half percent. And shares of Dynavax Technologies (DVAX) were down more than 14% after reporting third quarter results. Revenue plunged 67% year over year, driven by lower collaboration revenue after the termination of the collaboration with Merck (MRK) for Dynavax's lead product HEPLISAV. That led to a loss of 24 cents per share, compared to a 14 cent loss in the same quarter last year. For MarketNewsVideo.com, I'm Sayoko Murase.Source: Market News Video (Oct 23, 2009 - 2:50 PM EDT)
© 2009 UpDown. All Rights Reserved.
Make a suggestion for this page
Data powered by QuoteMedia (Terms of Use). Data delayed 15 minutes unless otherwise indicated.
