Mid-day Update From Pennytobuck On: Prot, Macy's, Mslp, Cfw
PROTEONOMIX, INC
PROTEONOMIX, INC. (OTC:PROT.OB)
PROT, a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, announced recently that it has formed a new subsidiary called X Gen Medical LLC, a Nevis Virgin Island entity. X Gen Medical has been established with the intention of conducting business in the global medical marketplace. PROT plans on utilizing X Gen Medical to serve as a platform for joint ventures with medical facilities worldwide. It is anticipated that new relationships formed with X Gen Medical will create medical facilities capable of not just attracting treatments locally, but also acting as hubs for medical tourism. Medical tourism is constantly on the rise and anticipated to continue to grow substantially due to current high costs of health care for certain procedures and improvements in both technology and standards of care in many countries.
Macys, Inc. (NYSE:M) reported earnings of 35 cents per diluted share for the second quarter of 2010, ended July 31, 2010. This significant earnings increase over the second quarter of last year was driven by higher-than-expected sales, improved margins, a reduced expense rate and disciplined inventory management.
In the second quarter of 2009, Macys, Inc. earned 2 cents per diluted share. These results include restructuring charges of $34 million ($77 million after tax; 18 cents per share) related to division consolidations and localization initiatives. Excluding these charges, the company earned 20 cents per diluted share in the second quarter of 2009.
*Sales*
Sales in the second quarter totaled $5.537 billion, up 7.2 percent from total sales of $5.164 billion in the second quarter of 2009. On a same-store basis, Macys, Inc.s second quarter sales were up 4.9 percent.
For the year to date, Macys, Inc. sales totaled $11.111 billion, up 7.2 percent from total sales of $10.363 billion in the first 26 weeks of 2009. On a same-store basis, Macys, Inc.s year-to-date sales were up 5.2 percent.
Online sales (macys.com and bloomingdales.com combined) were up 28.1 percent in the second quarter and 31.0 percent in the first half of 2010. Online sales positively affected the companys same-store sales by 0.5 percentage points in the second quarter and 0.8 percentage points in the year to date. Online sales are included in the same-store sales calculation for Macy's, Inc.
The company opened no new stores in the first half of 2010. In the second half of 2010, the company is opening two new Macys stores in Palmdale and Tracy, CA; a new Bloomingdales store in Santa Monica, CA (opened Aug. 6); and four new Bloomingdales Outlet stores, as previously announced.
Muscle Pharm Corp. (MSLP.OB) one of the fast-growing nutritional supplement companies in the United States, with a proprietary formulation used in eight performance products.
MSLP recently reported a distribution agreement with Sportika Export Inc. , a leading sports nutrition distributor, to over 130 countries internationally.
Brad Pyatt, MusclePharms Chief Executive Officer said, We are very excited about the opportunity to expand distribution into over 130 markets as we continue to grow MusclePharms international brand presence.
Muscle Pharms multiple products are currently available in 1,200 of the top GNC stores in the United States, as well as over 450 Vitamin Shoppe stores. MusclePharms award-winning products Assault, Battle Fuel, Bullet Proof, Combat Powder, Recon and Shred Matrixare also available online at gnc.com, bodybuilding.com, amazon.com and many other locations.
Cano Petroleum, Inc. (Amex:CFW) announced that Steven Pully has resigned his position as a member of CFWs board of directors.
Jeff Johnson, Canos Chairman and CEO commented, We would like to thank Steve and Carlson Capital for their support over the past two years and their continued support as we review our strategic alternatives. Steve joined our board during a turbulent phase of our Company. His insight and leadership have well served our stockholders, board and management.
CFW also announced that on August 4, 2010, the United States Court of Appeals for the Fifth Circuit affirmed the dismissal by the United States District Court for the Northern District of Texas of all claims by Truk International Fund, L.P. against David W. Wehlmann, Randall Boyd, Donald W. Niemiec, Robert L. Gaudin, William O. Powell, III, S. Jeffrey Johnson, Morris B. Smith, Ben Daitch, Michael Ricketts, Patrick McKinney and the underwriters of the June 26, 2008 public offering of Cano common stock.
There is no telling where they will go. As Always Do Your OWN Research.
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by: Bill Pennyman
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