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Here is some good news for the 20,000-odd depositors who had invested in the ViniVinc company and have waited patiently for the past five years to recover their money.
The forbearance period could be reduced upon the occurrenceof certain new defaults, the company said in a statement. * Lenders not to enforce rights for up to 365 days * No default interest to accrue during forbearance period July 21 (Reuters) - Canada's Newport Partners Income Fund(NPF_u.TO) said its lenders agreed not to enforce theirdefault-related rights under a senior credit agreement for upto an year, after the company defaulted on certain obligationsunder the agreement. The J-2X willbe tested at simulated altitudes up to 100,000 feet on the 300-foot A-3 teststand currently under construction at the center.Journalists wishing to view the final space shuttle main engine test shouldcontact Chris McGee, the news chief at Stennis, at 228-688-3249 by noon onTuesday, July 28 Reporters must arrive at Stennis by 1 p.m. on the day of theevent to be credentialed and escorted to the site.Footage of the test will air on NASA Television's Video File. Sincethen, 126 missions have flown, all with main engines tested by Stennis. Sevenflights remain before the space shuttle fleet is retired. The primary work at Stennis has been space shuttle main engine testing, butthe center also is helping NASA prepare for the next era of human spaceflight.Between 2007 and 2008, Stennis conducted component testing as part of earlydevelopment of the J-2X engine for NASA's Constellation Program.
CDT on Wednesday,July 29.(Logo: http://)The 520-second test ends a 34-year era of space shuttle main engine testing atthe facility. Stennis engineers conducted their first space shuttle mainengine test in 1975 The first shuttle mission was launched in 1981. (Reporting by Bill Berkrot; editing by Carol Bishopric) Stocks Currencies. NASA's John C. Stennis Space Center invites journalists to view the lastplanned space shuttle main engine test scheduled for 2 p.m. Amylin shares fell 5.5 percent to $12.60 after-hours from$13.34 at the Nasdaq close. Salveen Kochnover, analyst with Collins Stewart, said therewere no "upside" surprises in the earnings report and addedthat uncertainty about once-weekly Byetta's approval could beputting pressure on Amylin shares.
It previously forecastnon-GAAP operating loss of $75 million to $100 million, or GAAPloss of $175 million to $200 million. "We set a goal of becoming operating cash flow positive bythe end of 2010, and we have taken considerable steps towardachieving that goal," Chief Financial Officer Mark Foletta saidin a statement. Selling, general and administrative expenses that decreasedto $92.1 million from $111.1 million were partially offset bycosts of the company's recent proxy battle in which dissidentinvestors won two seats on the board. The company said it now expects its 2009 operating loss tobe at the lower end of its prior forecasts, primarily due tosavings from its sales force reduction. Research and development expenses decreased to $63.6million from $75.4 million due to lower development costs forthe long-acting version of Byetta. But Byetta sales and quarterly losses are no longer thefocus of Amylin watchers. "At this point for Amylin it's more about the prospects ofthe next generation of Byetta, which is under FDA review, andthe progress of competing products," said Cutler, mentioningpotential rival diabetes drugs from Novo Nordisk (NOVOb.CO) andRoche Holding AG (ROG.VX).
"There was a price increase at the beginning of the quarterand that definitely helped a little bit," he said. "Byetta sales came in in line with my expectation but werehigher than Street consensus (of $166 million)," said CanaccordAdams analyst Adam Cutler. Byetta sales for the quarter slipped to $175.1 million from$177.5 million, while total revenue fell 5.7 percent to $209.4million, edging past Wall Street estimates of $205.7 million. The biotechnology company posted a net loss of $62.4million, or 44 cents per share, compared with a loss of $66.6million, or 49 cents a share, a year ago.
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