Thu. Aug. 11, 2011 Avalon to proceed with Stuart Street tower
Homebuilder AvalonBay Communities Inc. Carbonite stock jumps at launch
Shares of Boston-based Carbonite Inc. jumped more than 25 percent this morning after the company’s initial public offering, before settling down to just under 20 percent by midday. The online computer back-up service priced its IPO late Wednesday at $10 per share -- down from the initially proposed range of $15-$17 per share. GM awards production contract to A123
A123 Systems, a Waltham company that makes high-powered batteries that can be used in electric cars, said it has achieved an important milestone in its ongoing relationship with auto maker General Motors. GM has been testing A123 batteries for several years, and today GM disclosed that it has awarded a production contract to A123 that calls for GM to use A123 batteries in a line of electric vehicles. A123 stock shares were up about 46 percent in mid-afternoon trading. Ironwood’s 2Q loss widens as expenses grow
Constipation treatment maker Ironwood Pharmaceuticals Inc. said today that its second-quarter loss widened, as an increase in operating expenses outweighed revenue gains. The Cambridge company lost $18.8 million, or 19 cents per share, in the three months that ended June 30. That compares with a loss of $17.1 million, or 18 cents per share, in last year’s quarter. Revenue rose 23 percent to $11.3 million from $9.2 million a year ago. American Superconductor to cut workforce by 30 percent, or 150 positions worldwide
American Superconductor Corp., a Devens company that makes technology for wind turbines and power utilities, said that it has reduced its global workforce by about 30 percent following issues with its largest customer. Upon completion of the action, the company expects to employ nearly 600 people worldwide. AMSC added that it expects to report a significant net loss on revenues of less than $10 million for the fiscal quarter ended June 30. The company is not providing details on how many jobs will be lost at specific locations such as Devens. Bruker to provide Navy with systems that detect chemical warfare agents
Bruker Corp., a Billerica company specializing in analytical instruments, said it has been awarded a contract that calls for it to provide the US Navy with systems that detect chemical warfare agents. The total value of contracts to Bruker under this program is about $5.8 million in 2011. Bank of New York Mellon to cut 1,500 jobs
Bank of New York Mellon Corp. Partners HealthCare signs letter of intent to acquire Neighborhood Health Plan
Partners HealthCare System Inc., the state’s largest hospital and physicians network, has signed a letter of intent to acquire Neighborhood Health Plan, a Boston-based nonprofit that insures more than 240,000 mostly low-income residents across Massachusetts. Construction is underway on solar project at Northfield Mountain
FirstLight Power Resources said today that construction recently started on a 2 megawatt solar facility at the company’s existing hydro-generation site at Northfield Mountain in Northfield. With plans for about 18,000 photovoltaic panels to cover 11 acres of land, the solar facility is expected to be completed by late November. According to the Solar Energy Industries Association, one megawatt of solar capacity can power 150 to 250 homes. Carbonite lowers IPO share price
Carbonite Inc., a Boston company that provides online data backup services, said today that it has cut the amount it is seeking to raise in an initial public stock offering. Late last month, Carbonite said it hoped to raise as much as $106 million in an IPO by selling shares in the company at $15 to $17 a share. But today, after a week of tumult on Wall Street, Carbonite said that it now plans to price its shares between $10 and $11. T2 Biosystems completes $23m Series D financing
Lexington-based T2 Biosystems said it raised $23 million that will be used partly to support the advance of an experimental treatment for blood stream infections. The funding round was led by new investor Aisling Capital LLC, a private equity firm based in New York. Joining Aisling in the round were existing investors Flagship Ventures, Polaris Venture Partners, Flybridge Capital Partners, Physic Ventures, Partners Healthcare, Arcus Ventures, RA Capital, Camros Capital, and WS Investments. | 
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