US Economy and Business News Update: NYMX, PRWT, ULTR, GPS

New York, NY -- (SBWIRE) -- 03/19/2013 -- Nymox Pharmaceutical Corporation (NASDAQ:NYMX) a biopharmaceutical company that engages in the research, development, and marketing of drugs and diagnostics is currently up (+15.27%) on 73,879 shares traded after Nymox Pharmaceutical Corporation is pleased to report on the presentation of data on NX-1207, the Company's novel patented drug, at the European Association of Urology's annual meeting held in Milan, Italy. Nymox Pharmaceutical Corporation (NASDAQ:NYMX) is currently up (+31.9%) from its recent 52-week low which has prompted Growing Stock Report to add the stock to their NASDAQ Gainers Watch List.

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PremierWest Bank and AmericanWest Bank announced that PremierWest Bancorp (NASDAQ:PRWT) and affiliates of AmericanWest Bank have entered into an amendment to the Agreement and Plan of Merger relating to the proposed merger of PremierWest Bancorp with an affiliate of AmericanWest Bank.

As per the revised terms, each outstanding share of PremierWest Bancorp common stock will be converted into the right to receive $2.00 in cash, which represents an additional $0.35 per share in cash consideration.

The additional consideration totals approximately $3.5 million in additional cash proceeds to the holders of PremierWest common stock, which represents an increase of approximately 21% from the prior proposal and represents a premium of approximately 32.5% over the $1.51 per share closing price of PremierWest common stock on October 26, 2012, the trading day immediately prior to the announcement of the merger agreement.

PRWT is currently trading at $1.96, up $0.3399 or 20.98 percent.

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Ultrapetrol (Bahamas) Ltd (NASDAQ:ULTR)declined by 13.12% to close at $1.92 in Friday’s trading session as the company announced its fourth quarter & year-end results. Total revenues decreased 10.3% YoY to $86.3Million in 4Q2012 compared to the year-ago period. Net loss for the fourth quarter of 2012 was $13.4Million, or $ (0.26) per share as compared with a net loss of $7.0Million, or $ (0.24) per share, during the year-ago period. The management remarked that it witnessed turbulent operating results due to its River Business. On the flip side, the company was able to execute its growth plans as planned due to its conservative debt-burden. The company had a market capitalization of $276.8Million on March 15, 2012.

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The Gap Inc. (NYSE:GPS) shares rose by 21 cents or 0.58% to $36.60 in the afternoon session following an upgrade by Jefferies analyst Randal Konik.The analyst upgraded the company stock to Buy with price target of $51 up by 2% citing his confidence over retailers business with an improvement in its fashion.He said that the fashion continues to be on track across the brand and its spring product assortment has been well received by shoppers till date.Even the prices are well accepted by consumers.The analyst added that the stock price of Gap is appealing with limited downside giving solid balance sheet, cash flows and possible buybacks.

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