Friday, August 12, 2011

Daily Business Update from the Boston Globe

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Fri. Aug. 12, 2011

Should college cafeterias add more tofu and Brussels sprouts to the menu?
A new nationwide survey of college students finds that they want campus cafeterias to offer a wider range of healthful menu options. According the survey from Chicago consulting firm Technomic Inc., 21 percent of today’s students limit their consumption of meat.

Architect: New design for Fallon clinic cuts down on wait time
A Fallon clinic in Leominster has been redesigned in a way to cut down on wait time for patients. That isn’t just good for patients; it’s also good for health care providers at a time when they are looking to contain costs and become more efficient. Margulies Perruzzi Architects of Boston oversaw the redesign.

Fidelity announces football sponsorship
Fidelity Investments, the Boston financial services company, said it will serve as the first presenting sponsor of the National Football Foundation National Scholar-Athlete Awards in the 53-year history of the program, which provides outstanding student athletes with scholarships to continue their post-graduate education.

Affinnova: European expansion helps drive sales jump
Affinnova, a Waltham company that helps consumer-products company do market research, announced today that sales rose 44 percent for the 12-month period that ended in June, partly because of high demand for its services in Europe.

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.

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