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Datalink (Nasdaq: DTLK) $4.54. Today announced that it expects to significantly exceed its previous revenue and earnings guidance for the fourth quarter of 2010. The company now expects fourth quarter 2010 revenues to be approximately $90 million. This is up over 70% from revenues of $51.8 million in the fourth quarter of 2009, and up over 45% from revenues of $60.2 million in the third quarter of 2010. At the end of the third quarter of 2010 the company had provided revenue guidance of between $75.0 million and $80.0 million for the fourth quarter of 2010.
The company ended the year with a record fourth quarter backlog of over $47 million. This compares to a $46 million backlog at the end of 2009, which was previously a record for the fourth quarter.
What They Do: A complete data center solutions and services provider for Fortune 500 and mid-tier enterprises, Datalink transforms data centers so they become more efficient, manageable and responsive to changing business needs.
ARIAD Pharmaceuticals (Nasdaq: ARIA) $5.25. Today announced top-line data showing that ridaforolimus, an investigational oral mTOR inhibitor, met the primary endpoint of improved progression-free survival (PFS) compared to placebo in the Phase 3 SUCCEED trial conducted in patients with metastatic soft-tissue or bone sarcomas who previously had a favorable response to chemotherapy. Merck is currently developing ridaforolimus in multiple cancer indications under an exclusive license and collaboration agreement with ARIAD. Complete findings from the SUCCEED trial will be submitted for presentation at an upcoming medical meeting this year.
Based on the full analysis of 552 PFS events in 711 patients, determined by an independent review committee, the blinded prospective study achieved its primary endpoint, with a statistically significant (p=0.0001) 28 percent reduction by ridaforolimus in the risk of progression compared to placebo (hazard ratio=0.72). Determination of median PFS for each arm of the trial demonstrated that ridaforolimus treatment resulted in a statistically significant 21 percent (3.1 week) improvement in median PFS (ridaforolimus, 17.7 weeks vs. placebo, 14.6 weeks).
What They Do: ARIAD's vision is to transform the lives of cancer patients with breakthrough medicines.
Sterling Bancshares (Nasdaq: SBIB) $7.70, and Comerica Incorporated (NYSE: CMA). Today jointly announced that they have entered into a definitive agreement under which Comerica will acquire all of the outstanding shares of common stock of Sterling in a stock-for-stock transaction. The strategic acquisition accelerates Comerica's growth in Texas and maintains Comerica's capital strength.
Under terms of the agreement, each outstanding share of Sterling common stock will be exchanged for 0.2365 shares of Comerica common stock upon closing. Based on Comerica's 15-day average NYSE closing common share price through January 11, 2011 of $42.28, the transaction values each share of Sterling common stock at $10.00, or an aggregate implied value of approximately $1,027 million in Comerica common shares. The closing share price of Sterling common stock on the NASDAQ on January 14, 2011 was $7.70.
What They Do: Sterling Bancshares, Inc. is a Houston-based bank holding company with total assets of $5.2 billion, which operates banking centers in the greater metropolitan areas of Houston, San Antonio, Fort Worth and Dallas, Texas.
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