| Icos
Stock Falls 16 Percent After Loss Forecast
August 07, 2003
SEATTLE — The day after
it reported a bigger-than-expected loss forecast
for next year, Icos stock fell $6.25, or 16
percent, on heavy trading volume to close at
$33.24 yesterday.
On Tuesday, the Bothell biotech company said
it is forecasting a loss of at least $3 a share
next year, much wider than the earlier $1.23
average estimate by analysts. Icos said it expects
to spend more money on a marketing blitz next
year to introduce Cialis,
the impotence drug it hopes will be approved
for the U.S. market late this year.
Some analysts were also disappointed with
sales of Cialis in Europe, where it became available
in February. Cialis had $17 million in sales
in its first quarter in Europe, and $22 million
in the second quarter. Europe has about one-fifth
of the world market for impotence
drugs.
RealNetworks aims for open-source player
SEATTLE — RealNetworks said yesterday
it is launching a project to develop an open-source
media player for the Linux, Unix and Solaris
platforms.
The company announced the Helix Player project,
as it is called, at the LinuxWorld conference
in San Francisco, and called for people interested
in open-source development to help build the
player.
The company has set a goal of finishing the
project by the summer of 2004.
Savers chain buys nine Shop & Save stores
SEATTLE — Savers, the Bellevue-based
chain of Value Village and Savers thrift stores,
has acquired nine Shop & Save stores in
Western Washington.
Terms of the deal weren't disclosed. Some
Shop & Save stores will be converted into
Value Village stores, while others will keep
the Shop & Save name.
With the acquisition, Savers now operates
200 stores in the United States, Canada and
Australia.
Port considering selling warehouse site
SEATTLE — The Port of Seattle may sell
26 acres and two warehouse buildings near the
waterfront to a produce wholesaler for $19.5
million.
The port has signed a letter of intent with
Charlie's Produce to sell Terminal 106 East.
Commissioners are to vote on the deal Tuesday.
The property is east of Highway 99 along Diagonal
Avenue South.
Charlie's, which leases space in the area,
plans to consolidate its business at the terminal.
The port bought the property from the federal
government in the 1970s as part of an effort
to develop a warehouse business, a strategy
it recently abandoned.
Gates sells 3 million shares of Microsoft
LOS ANGELES — Microsoft chairman Bill
Gates sold 2 million shares of stock Monday
at prices ranging from $25.79 to $26.38, the
company said in regulatory filings yesterday.
In forms filed with the U.S. Securities and
Exchange Commission, Microsoft said Gates sold
the shares in a number of transactions during
the day, generating at least $51.6 million from
the sales.
Last Friday, Gates sold 1 million shares of
Microsoft stock, realizing at least $26.2 million
from those sales. He still holds more than 1
billion shares of Microsoft stock.
Bezos reduces holdings in Amazon.com
Amazon.com Chief Executive Officer Jeffrey
Bezos sold 300,000 of company shares worth $11.9
million this month, days after the stock reached
its highest level in 34 months.
Bezos reduced his holdings in Seattle-based
Amazon to 106.7 million shares, or about 27
percent of the company's outstanding shares,
according to a filing with the Securities and
Exchange Commission.
The sales came after the stock reached $42.08
on July 28, its highest level since Sept. 18,
2000. The shares have more than doubled since
the beginning of the year.
Compiled from Seattle Times business staff
and news services.
Copyright © 2003 The Seattle Times Company
source:-http://seattletimes.nwsource.com
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