Lumera Corp. of Bothell said the Defense Advanced Research Projects Agency has finally awarded the company another phase of a contract that was first tentatively approved in mid-2006. The yearlong contract, worth about $2.4 million, involves developing technological materials with unprecedented capabilities and processing them into devices. Shares of Lumera gained 12 cents, or 6 percent, to close Wednesday at $2.14.
Drug maker hired by biotech firm
CMC ICOS Biologics of Bothell will produce the next drug candidate for a California biotechnology company under a new agreement between the two firms. CMC ICOS, which operates a drug manufacturing plant formerly owned by ICOS Corp., said it will work on producing a potential drug for Raven Biotechnologies that targets cancer cells. CMC ICOS recently raised an undisclosed sum from investors to modernize the Bothell facility.
Humana Inc. losses a ‘one-time’ event
Humana Inc.’s top executive gave assurances Wednesday that a sharp drop in the health insurer’s first-quarter and full-year earnings estimates was a “one-time situation” due to higher-than-expected claims in its stand-alone Medicare prescription plans. Still, Humana shares tumbled more than 13 percent in trading Wednesday, marking the second straight big drop in its stock value. Overall, the health insurance industry had a mixed performance in trading Wednesday after Humana joined WellPoint Inc. this week in cutting earnings guidance for 2008.
Target nears sale of some receivables
Target Corp. says it is negotiating with a partner to sell half its credit card receivables for about $4 billion. Target says the proposed transaction is subject to conditions including “acceptable economics at the time of closing.”
Forever Stamp is a good deal
Americans know a good deal when they see one. Sales of the Forever Stamp — valid for postage regardless of any rate increase — jumped by $95 million after plans for higher stamp prices were announced last month. The cost to mail a first-class letter will rise a penny, to 42 cents, on May 12. Until then the special Forever Stamp will continue to sell for 41 cents and after the rate increase it will still be valid for postage without the need for any extra stamps. The Postal Service said Tuesday that it sold $275,211,160 in Forever Stamps in February,.
Ireland’s Aer Lingus posts solid profits
Irish airline Aer Lingus posted a stronger-than-expected profit for 2007 Wednesday after a loss a year earlier. It’s its last report under government ownership. Aer Lingus earned $161.7 million in 2007 versus a big loss in 2006. Since selling stock on the Irish and British stock exchanges in September 2006, Aer Lingus has fought off a hostile takeover by rival Ryanair, battled its pilots and labor unions, expanded its route network and Airbus fleet, and struck a partnership with U.S. no-frills carrier JetBlue.
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