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We examine the severity of and determinants of market overhang when firms file shelves, controlling for selection effects.
But, it is important to note that much of the market overhang is concentrated in the Northeast and shows few signs of leading to a national real estate market contraction.
Acergy (Nasdaq: ACGY) posted better-than-expected second quarter 2009 results, though revenue and backlog slipped, reflecting the tentative operating environment stemming from commodity price and credit market overhang.
We eliminated a portion of the market overhang and increased the number of authorized shares available for use in funding the remainder of our pivotal 900-patient Phase 3 trial of NOV-002 for treatment of non-small cell lung cancer.