TICC Capital Corp. (NASDAQ:TICC) stock fell 3% to $9.62 in the pre-market session after the company announced that it has commenced a public offering of 2 million shares of its common stock. Barclays Capital Inc. is acting as the sole book-running manager for the offering. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., is acting as a co-manager. The Company expects to use the net proceeds from the offering for general corporate purposes.
AstraZeneca plc (ADR) (NYSE:AZN) raised its profit guidance following a deal to sell the over-the-counter global marketing rights for its Nexium to Pfizer Inc.
Pfizer Inc has entered into an agreement with AstraZeneca for the over-the-counter (OTC) rights for NEXIUM (esomeprazole magnesium), a prescription drug currently approved to treat the symptoms of gastroesophageal reflux disease (GERD). Under the terms of the agreement, Pfizer will acquire the exclusive global rights to market NEXIUM for the approved over-the-counter indications in the United States, Europe and the rest of the world.
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Under the agreement, Pfizer will make an upfront payment of $250 million to AstraZeneca, and AstraZeneca is eligible to receive milestone and royalty payments based on product launches and sales.
KIT digital, Inc. (NASDAQ:KITD) stock fell 5% to $2.85 in the pre-market session after the company’s second-quarter loss widened as the company works to undertake a business transformation.
The company posted second quarter loss of $151.1 million, or $2.94 a share, as compared with a year-earlier loss of $19.8 million, or $0.49 a share. On a continuing operations basis, the loss was $1.99 a share compared with a loss of $.47 a share a year earlier. Revenue fell 14% to $51.1 million, primarily due to lower revenue from its broadcast systems integration segment. Analysts were expecting a loss of $0.37 a share on revenue of $60.8 million.
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Photronics, Inc. (NASDAQ:PLAB) reported third quarter net profit of $10.95 million, as compared to $11.27 million in the same quarter last year. On a per-share basis, earnings were flat at $0.16. Adjusted income for the quarter dropped to $10.96 million or $0.16 per share. Total revenues for the quarter dropped to $116.62 million from $135.94 million in the prior-year quarter. Analysts expected the company to earn $0.15 per share on revenue estimate of $116.89 million for the quarter.
Primerica, Inc. (NYSE:PRI) announced that it approved payment of a quarterly dividend of $0.07 per share for the second quarter of 2012. The dividend will be payable on September 10, 2012, to stockholders of record as of August 24, 2012.