Lakeway, NY — (MARKET NEWS CALL) — 12/18/2014— thenextbigtrade.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market about the small and penny stocks, issues news alert on National Bank of Greece (ADR)(NYSE:NBG), Seadrill Ltd(NYSE:SDRL), Teck Resources Ltd (USA) (NYSE:TCK).
National Bank of Greece (ADR)(NYSE:NBG)’s shares gained 10.56% to $1.99. The 52 week trading range for the company is $1.76 – $5.98. The shares of the company plunged 65% in the last one year. The company is a Greece-based financial institution. It provides a range of financial services including retail and commercial banking, asset management, brokerage, investment banking, insurance and real estate at a global level. Its segments are: Retail Banking, Corporate and Investment Banking, Global Markets and Asset Management and International Banking Operations.
Seadrill Ltd(NYSE:SDRL) shares jumped 10.55% to $12.16. Levi & Korsinsky on Dec. 16 announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Seadrill Limited American Depository Receipts (“ADRs”) between July 10, 2014 and November 25, 2014. The complaint alleges that Seadrill issued materially false and misleading information to the investing public. In particular, the complaint alleges that the Company issued statements suggesting that the Company would maintain its dividend until at least the end of 2015, but then on November 26, 2014, the Company disclosed it would indefinitely suspend its dividend, citing Seadrill’s need to pay down its debt to strengthen its balance sheet.
Teck Resources Ltd (USA) (NYSE:TCK)’s shares jumped 10.46% to $12.36. The company on Dec. 17 announced the first shipment of zinc and lead in concentrate from its restarted Pend Oreille Operations in northeastern Washington State to its nearby Trail Operations in British Columbia for processing.
“The restart of our Pend Oreille zinc mine was completed on time and under budget and allows us to grow our zinc production at a time when global supply is constrained,” said Don Lindsay, President and CEO. “We are pleased to be operating again in Washington State and helping to support jobs and economic activity in the community, region and state.”
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Eanings Review: Rambus Inc. (NASDAQ:RMBS), Revlon Inc (NYSE:REV)
Revlon Inc(NYSE:REV) +2.5% after-hours after announcing that President and CEO Fabian Garcia is stepping down “to pursue other opportunities,” and Executive Vice Chair Paul Meister will oversee operations on an interim basis.
REV also says it expects Q4 revenues of $785M, below $801M from the year-earlier quarter but ahead of analyst consensus estimate of $743M, and a $60M-$80M net loss for the quarter due to a charge related to the recent tax law changes.
REV expects Q4 adjusted EBITDA of $110M-$115M vs. $115M analyst consensus.
CFO Chris Peterson also denies rumors that the company is considering a material asset transfer that would shield assets from lenders.
Rambus Inc.(NASDAQ:RMBS) shares are down 5.5% aftermarket following Q4 results that beat revenue estimates and met on EPS. In-line Q1 guidance (under ASC 605 accounting change) has revenue from $94M to $100M (consensus: $100.38M) and EPS from $0.17 to $0.23 (consensus: $0.18).
Revenue breakdown: Royalties, $77.9M (+10% Y/Y); Product, $8.5M (-27%); Contract and other revenue, $15.5M (+2%); Licensing billings, $76.6M (+18%).Key metrics: Non-GAAP operating margin, 31%; total operating expenses, $67.5M; cash and equivalents, $172.2M; cash flow from operations, $33.3M.
ADTRAN, Inc. (NASDAQ:ADTN) Hits New Lows After Issuing disappointing Earnings Forecast
ADTRAN, Inc.(NASDAQ:ADTN) slumped to a 52-week low after forecasting below consensus guidance for Q4, revising its revenue estimate downward to $125M from $155M-$165M earlier and seeing EPS of ~$0.01; analysts had expected EPS of ~$0.14 and revenue of $161.2M.
ADTN also projects Q1 to come in at roughly the same as Q4, misses analyst consensus of $167.5M.
CEO Tom Stanton says Q4 results have been hurt by a merger-related review, which ADTN expects to be completed in 60-90 days, and slowdown in the spending at a domestic Tier 1 customer.
MKM Partners analyst Michael Genovese believes the customer is CenturyLink (CTL -2%), which accounted for 24% of ADTN’s total sales in 2016.
The analyst thinks the weakness should prove temporary, adding that ADTN’s performance likely will accelerate into 2019 as the company stands to benefit from 5G spending; MKM trims its ADTN target price to $25 from $27 but keeps its Buy rating.
Big IPO Coming: Celator Pharmaceuticals Inc(NASDAQ:CPXX), Moleculin Biotech’s (MBRX)
Today at 10am Eastern, Moleculin Biotech ticker symbol MBRX will debut on the Nasdaq stock exchange and is being considered as one of the most highly anticipated IPO’s of 2016 by the street. The excitement and anticipation is arising from many experts saying that Moleculin Biotech’s (MBRX) drug annamycin is far superior to Celator Pharmaceuticals Inc(NASDAQ:CPXX) drug daunorubicin.
CPXX which has been bought out by Jazz Pharmaceuticals plc – Ordinary Shares(NASDAQ:JAZZ) for $1.5 Billion Dollars last week, share price ran from $1.6 to $31 in 2 months. Moleculin Biotech’s share structure is a 1.5m public float Priced at $6.