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As the failed bank list continues to grow the struggle to survive becomes more intense for small banks. The potential for mergers, private investors making a high risk investments or the bank taking even higher risks through toxic investment firms. All last ditch efforts to keep the FDIC out of their offices. Maintaining their Tier-1 capitalization through whatever means they can think of is their goal. If it falls below a certain percentage the risk of getting a “cease and desist” restriction becomes greater and then what I call “smart money” takes out their backing. Say good bye to the institutional funds and potentially their own insiders and directors. Say hello to downgrades and possible defaults. Finding banks close to this dramatic battle of survival that have the potential to survive and bring themselves back to adequate solvency is quite a feat. I offer fair warning, the stocks that I put on my watch list are in no way an indication that they will survive and prosper.
A couple on my watchlist,
Hampton Roads Bankshares Inc. (NasdaqGS HMPR) which is a holding company for a couple banks was recently delisted to the Global Select from the Nasdaq Capital market. I have had a price target of around .43 on this puppy since they were required to raise capital earlier this year. This company has also just issued a new prospectus trying to raise more capital and clearly said they will reverse split if necessary to regain compliance by May 2, 2011.
Superior Bancorp (NasdacGM: SUPR) as the holding company for Superior Bank that provides various banking and related services to individual and corporate customers in Alabama and Florida. Superior is under a cease and desist order, received its delisting notice and has been downgraded. Superior Bank is a multi billion dollar company. I am following Superior Bancorp as a story stock after it filed a $35M damage claim through the Gulf Coast Claims Facility.
Astrotech Space Operations Wins Task Order Under NASA Vandenberg Contract
Press Release Source: Astrotech Corporation On Tuesday November 23, 2010, 7:00 am EST
Previous missions won under the VAFB IDIQ contract include the Ocean Surface Topography, Interstellar Boundary Explorer, Orbiting Carbon Observatory, GLORY and WISE missions. With the award of the NPP Mission, Astrotech has now been awarded six out of seven of the NASA VAFB IDIQ Missions awarded to date. NPP is a joint mission to extend key measurements in support of long-term monitoring of climate trends and of global biological productivity. The mission will provide atmospheric and sea surface temperatures, humidity sounding, land and ocean biological productivity, and cloud and aerosol properties.
From Titusville, Florida, Vandenberg Air Force Base, California and the Sea Launch Home Port facilities in Long Beach, California, Astrotech Space Operations provides all support necessary for government and commercial customers to successfully process their satellite hardware for launch, including advance planning; use of unique facilities; and spacecraft checkout, encapsulation, fueling, and transport. In its 29 year history, Astrotech has supported the processing of more than 285 spacecraft without impacting a customer's launch schedule.
About Astrotech Corporation
Astrotech Corporation (Nasdaq:ASTC - News) is a commercial aerospace company that provides spacecraft payload processing and government services, designs and manufactures space hardware, and commercializes space technologies for use on Earth. The Company serves our government and commercial satellite and spacecraft customers with our pre-launch services from our Astrotech Space Operations (ASO) subsidiary and incubates space technology businesses now focusing on two companies: 1st Detect Corporation, which is developing a mini-mass spectrometer first developed for the International Space Station; and Astrogenetix, Inc., which is developing biotech products in space and has recently developed a vaccine candidate for Salmonella.
The Astrotech Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7456
The statements in this document may contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, continued government support and funding for key space programs, product performance and market acceptance of products and services, as well as other risk factors and business considerations described in the company's Securities & Exchange Commission filings including the annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. The Company assumes no obligation to update these forward-looking statements.
Contact:
Astrotech Corporation
Scott Haywood, Corporate Marketing and Communications
512-485-9530
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Disclosure: Long
Its been good for (NASDAQ: BIOD) for couple of days, until it was Tuesday the 21th of September 2010. Suddenly, the shorts came in and toasted BIOD for now, but the battle isn't over yet, and never will be.
The topic says it right.. we need your feedback! Do you like the new blog? The calendar? What features do you want to see in near future. Relate to us your requests and your imagination so we can improve.
We are thinking of updating the homepage and soon you might see a whole new look. Meanwhile, enjoy the blog, calendar, articles and of course the forum!
See you next time.
Shares of Arena Pharma (NASDAQ: ARNA) sunk significantly after the concern from the U.S. Food and Drug Administration about the diet drug lorcaserin. In documents released Tuesday, FDA officials reviewing lorcaserin's clinical trials indicated the drug might not be effective enough to win approval.
As you can see, TapeBeat.com is slowly advancing. We have added a Calendar of Events that will have FDA dates and other interesting info.
The blog system has been totally changed to the new design which should be user friendly.
I call it progress! Some might be confused about where this site is going and how its leading toward too. However, let me clarify that we are still working to provide our members the best resource of news available on the internet (at least we try). Meanwhile, we want users to blog and post on our site as well.
We are testing the new blogging system, so please bare with us.
