Shares of drug firm rebound as earnings and revenues climb. (Up Front).The stock of American Pharmaceutical Partners Inc., one of L.A.'s newest public companies, finally climbed above its $16 offering price last week after tumbling from a $22 a share high following its December IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. . The West Los Angeles-based manufacturer of generic injectable in·ject·a·ble adj. Capable of being injected. Used of a drug. n. A drug or medicine that can be injected. drugs hit a low of $13 in early February. The company came to market amid legal troubles, including a Federal Trade Commission investigation. The gains followed a series of buy recommendations as the securities firms that underwrote the $165 million public offering - CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. , Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. Securities and UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System Warburg - initiated coverage. The company also announced new product offerings and capped it off with positive earnings news on Feb. 27. The drug maker reported net income in the fourth quarter of $5.3 million, up from a net loss of $17 million in the like period a year ago. (Excluding an $18.5 million charge for a legal settlement last year, the company said it earned $1.5 million in the fourth quarter of 2000.) Fourth quarter 2001 revenues were $55.6 million, up from $42.8 million. Dr. Patrick Soon-Shiong, the company's chairman and chief executive, told investors that growth was largely the result of nine new product offerings last year. The company is in third-generation clinical trials in the development of a new form of Taxol, the world's best selling cancer drug. The FTC FTC See Federal Trade Commission (FTC). investigation relates to allegations that the company attempted to keep a generic form of Taxol off the market. |
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