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Los Angelas, CA -- (SBWIRE) -- 01/28/2013 -- Zion Oil & Gas (NASDAQ:ZN): In its weekly newsletter, Zion said (in part), that “We are in the process of re-evaluating our exploration strategy going forward. We have now re-evaluated our Asher-Menashe, Joseph, and Jordan Valley License areas, incorporating fairly recently acquired geological and geophysical data. We do not expect to drill a new exploratory well within the first half of 2013 but we hope to drill our next exploratory well towards the end of 2013 or in 2014.”
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Shares of mattress-maker Select Comfort (NASDAQ:SCSS) were getting crushed today, falling as much as 20% after missing earnings estimates and providing downbeat guidance in its quarterly report. The maker of the Sleep Number bed delivered profits of just $0.22 per share, well below the $0.32 Wall Street had expected, and down from $0.27 a year ago. Sales increased 17% during the quarter, but management blamed a slowdown in sales during the last two weeks of the period and increased marketing and R&D expenses for the drop in net income. Same-stores improved by a robust 11%, but 2013 EPS guidance of $1.65-$1.80 was below analyst projections of $1.89.
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BG Medicine Inc.(NASDAQ:BGMD) said Friday that it priced an offering of 6 million shares of stock at $2 per share. The company said it expects $11.1 million in proceeds after discounts, commissions and expenses are deducted. The offering is expected to close Wednesday. BG Medicine said the underwriters of the offering will have the opportunity to buy 900,000 additional shares to cover any overallotments. BG Medicine makes a test that is used to determine the prognosis of patients with heart failure, and a test designed to identify patients at high risk for problems like heart attack and stroke. The company said it will use the proceeds of the offering for commercialization of its tests and for other general corporate purposes. BG Medicine had 20.5 million shares on the market as of Oct. 31. Its shares fell 34 cents, or 13.7 percent, to $2.14 in morning trading.
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ScanSource (NASDAQ:SCSC) short-circuited, down as much as 16% following the release of its second-quarter earnings results. For the quarter, ScanSource reported an adjusted profit of $0.64, down from a year-ago profit of $0.77, as revenue slipped 4.5% to $747.7 million. Both figures actually surpassed the Street's expectations of $743.7 million in sales and a profit of $0.62. However, the wheels fell off the bus when ScanSource issued its third-quarter guidance, which came in well short of the consensus figures. Sales are expected to be in the range of $675 million to $695 million and EPS in a range of $0.48-$0.50.
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