During Friday’s afternoon trade, Shares of National Bank of Greece S.A. (NYSE:NBG), gained 1.98% to $0.52.
Greek bank investors are being asked to inject new funds into the lenders for the second time in less than 20 months, even as doubt remains that the country will receive the next round of bailout funds, according to Bloomberg.
The National Bank of Greece SA and Eurobank Ergasias SA joined Piraeus Bank SA and Alpha Bank AE on Thursday in starting book-building processes as they seek to fill part of 14.4 billion-euro ($15.5 billion) hole in their accounts identified by the European Central Bank. The state-owned Hellenic Financial Stability Fund will contribute the rest from loans from Greece’s latest bailout, but not before imposing mandatory losses or “burden sharing” on shareholders and creditors of the banks. Bloomberg Reports
“The recapitalization of Greek banks, perhaps the most critical problem for the Greek state recently, has entered its most critical stage,” Emilios Avgouleas, professor of international banking law and finance at the University of Edinburgh, and Levy Institute President Dimitri B. Papadimitriou, said in a report on Thursday. “Instead of repeating the mistakes of the past, recapitalization should create an environment of hope amidst renewed efforts to repair the Greek economy.”
National Bank of Greece S.A., together with its auxiliaries, provides diversified financial services. The company is involved in retail and commercial banking, asset administration, investment banking, brokerage, and insurance activities. It offers current accounts, deposit multiproducts, deposits in foreign currency, savings accounts, sight accounts, and time deposit accounts.
Shares of TopBuild Corp. (NYSE:BLD), declined -2.06% to $28.06, during its current trading session.
TopBuild Corp., stated financial results for the third quarter ended September 30, 2015.
Third Quarter Financial Highlights
- Net sales raised 7.6% to $427.9 million.
- Gross margin on a sequential basis was up 80 basis points. On an adjusted basis, gross margin raised 100 basis points sequentially to 22.2%.
- Selling, general and administrative (“SG&A”) expenses as a percentage of sales were 14.9%, a 390 basis point improvement. On an adjusted basis, SG&A expenses as a percentage of sales improved 180 basis points.
- Operating profit was $30.2 million contrast to $13.8 million. On an adjusted basis, operating profit was $31.3 million contrast to $22.1 million, a 41.6% improvement.
- Operating margins improved 360 basis points to 7.1%. On an adjusted basis, operating margins were 7.3%, up 170 basis points.
- Net income from ongoing operations was $16.6 million, or $0.44 per diluted share, contrast to $6.5 million or $0.17 per diluted share. On an adjusted basis, net income from ongoing operations was $19.0 million, or $0.50 per diluted share contrast to $12.1 million or $0.32 per diluted share.
- At quarter end, the Company had cash and cash equivalents of $108 million and availability under its revolving credit facility of $68 million for total liquidity of $176 million.
TopBuild Corp. installs insulation and other building products in the United States. The company operates in two segments, Installation and Distribution. It offers residential insulation services; and installs indoor and outdoor fireplaces, gutters, garage doors, closet shelves, shower doors, and others, in addition to roofing. The company also provides less than truckload quantities and next day delivery services; and distributes insulation and other building products.
Finally, Rock Creek Pharmaceuticals, Inc. (NASDAQ:RCPI), surged 5.33%, and is now trading at $0.79.
Rock Creek Pharmaceuticals, declared its third quarter results. The Company also revealed the Notification of Intent to Grant by the European Patent Office of a European patent for the administration of Anatabine to treat autism spectrum and seizure disorders.
Autism Spectrum Disorders
Autism spectrum disorders (ASDs) are pervasive neurodevelopmental disorders diagnosed in early childhood when attained skills are lost or the acquisition of new skills become delayed. ASDs onset in early childhood and are associated with varying degrees of dysfunctional communication and social skills, in addition to repetitive and stereotypic behaviors. In many cases (25%-50%), a period of seemingly normal development drastically shifts directions as attained skills are lost or the acquisition of new skills becomes delayed. Examples of ASDs comprise “classical” autism, Asperger’s syndrome, Rett syndrome and other pervasive developmental disorders.
Previous research has suggested that there is excess inflammation in the colon, esophagus and duodenum of some patients with autism and postmortem studies have also shown an improvement in the expression of several markers of neuro-inflammation. There is also evidence that nicotinic acetylcholine receptor (nAChR) agonists, especially those that target the alpha-7 subtype, may be useful in treating ASD. For instance, it has been suggested that activating the alpha-7 nAChR may provide symptomatic relief in ASD by reducing chronic inflammation and providing pro-cognitive effects. Anatabine has been shown in a variety of preclinical models to activate alpha-7 nAChRs, reduce inflammation in several animal models and to normalize social behavior in transgenic models of Alzheimer’s disease.
Rock Creek Pharmaceuticals, Inc., a pharmaceutical company, focuses on the discovery, development, and commercialization of therapies for chronic inflammatory disease, neurologic disorders, and behavioral health. Its lead drug candidate is anatabine citrate that is in Phase I clinical trials, a small molecule, cholinergic agonist which exhibits anti-inflammatory pharmacological characteristics, with a mechanism of action distinct from other anti-inflammatory drugs available, such as biologics, steroids, and non-steroidal anti-inflammatories.