Connect with us

Business

Stocks In Focus: Zynga, Inc. (NASDAQ:ZNGA), SandRidge Energy Inc. (NYSE:SD), United States Steel Corporation (NYSE:X)

Published

on

Zynga, Inc. (NASDAQ:ZNGA)’s shares climbed 3.85% to $3.24. The company has appointed Regina Dugan, a vice president of engineering at Google, to its board, the online gaming company said on July 9. Dugan, 51, also leads the advanced technology and projects group at Google that works on new inventions like a tablet that uses 3D motion and depth sensing capabilities. Zynga has set in motion a business revival plan by overhauling top management, trimming staff and introducing titles that can be played on smartphones and tablets. Dugan becomes the second female director on Zynga’s board alongside former Yahoo executive Ellen Siminoff. The board has a total of nine directors.

Get the Inside Scoop On ZNGA here with this Free Report

SandRidge Energy Inc. (NYSE:SD)’s shares declined 3.80% to $6.58. The company will release its 2014 second quarter shareholder update and financial results after the close of trading on the New York Stock Exchange on Wednesday, August 6, 2014.

You won’t believe what we found out about SD

Additionally, the company on June 12 announced that its Board of Directors has declared a $3.00 per share semi-annual dividend on its shares of 6.0% Convertible Perpetual Preferred Stock that will be paid in cash on July 15, 2014 to holders of record on July 1, 2014. The company has 2,000,000 shares of 6.0% Convertible Perpetual Preferred Stock outstanding.

United States Steel Corporation (NYSE:X)’s shares gained 3.21% to $27.64. The company’s President and CEO Mario Longhi issued the following statement in response to the U.S. Department of Commerce’s final determination in a trade case on Oil Country Tubular Goods (OCTG) against nine countries including South Korea.  The Company, the largest integrated producer of tubular products headquartered in the United States, was a petitioner in the case.

Why Should You Buy X Now? Get The Free Trend Analysis Here

Additionally, the company on July 9 announced that interested stockholders, investors and others may listen to the company’s second quarter 2014 conference call with securities analysts on Wednesday, July 30, 2014, at 8:30 a.m. EDT.  The call, which will be available via the U. S. Steel website, will cover second quarter 2014 financial results and may include forward-looking information.  The company plans to release its second quarter 2014 financial results following the close of trading on the New York Stock Exchange on Tuesday, July 29.

Biotech

Biotech movers: Pfizer Inc. (PFE), Celgene Corporation (CELG)

Published

on

Pfizer Inc. (PFE) said on Thursday it received a request for documents as part of a U.S. investigation related to quality issues involving the manufacture of auto-injectors at its Meridian Medical Technologies site.

Pfizer, in a regulatory filing, said it would be producing records in response to the civil investigative demand from the U.S. Attorney’s office for the Southern District of New York.

Why ASDN Could Massively Outperform PFE in 2019

Meridian, a unit of Pfizer that manufactures EpiPen injectors used to deliver an emergency allergy antidote, has been hit by a series of manufacturing problems in recent years. Mylan NV, which markets EpiPens, has recalled tens of thousands of the devices after complaints that some had failed to activate.

Bristol-Myers Squibb has been meeting with shareholders in Boston and New York over the last two weeks to try to salvage its $74 billion purchase of cancer drugmaker Celgene Corporation (CELG), the biggest acquisition announced so far this year.

Why Investors Are Calling ASDN the CELG of the Sky!

The deal, announced in January, was hard sell to Bristol shareholders from the start. The acquisition adds about $32 billion in fresh debt to Bristol’s balance sheet while assuming $20 billion in Celgene’s debt, the companies said at the time. After factoring in debt, the acquisition was the largest health-care deal on record, according to data compiled by Refinitiv.

Now, hedge funds Wellington Management and Starboard Value say the deal doesn’t sit well with them. Bristol has sent executives to New York to meet with institutional investors several times over the last two weeks and met with investors in Boston on Wednesday and Thursday, according to a person who briefed on the meetings.

Bristol-Myers declined to comment.

Continue Reading

Biotech

Big Losers: Corbus Pharmaceuticals Holdings, Inc. (CRBP), Petróleo Brasileiro S.A. – Petrobras (PBR)

Published

on

Corbus Pharmaceuticals Holdings, Inc. (CRBP)’s shares slumped as much as 16% to $6.94 on huge volume. The stock has been showing intense sell off suddenly after a bearish article on seekingalph.com by Alpha Exposure.

The article stated that Corbus has ties to investors convicted of or alleged to have committed securities fraud. We believe lenabasum has failed its major trials in SSc and CF. Lenabasum was also denied Breakthrough Therapy Designation in SSc. We believe lenabasum will fail in its pivotal SSc and Phase 2b CF trials. We are short Corbus with a price target of $0.50.

Wow the future of Autonomous flight is finally here with the launch of ASDN passenger drone Elroy

Petróleo Brasileiro S.A. – Petrobras (PBR) is expanding its ambitious divestment program and has “bold” plans for sales, the Brazilian state-run oil company’s chief executive said after the firm posted its first annual profit in five years.

On a conference call with analysts to discuss fourth-quarter results, CEO Roberto Castello Branco said selling non-core assets will be key to deleveraging.

Petrobras, as the company is known, can reduce its ratio of net debt to earnings before interest, taxes, depreciation and amortization, or EBITDA, to 1.5 or even to 1, he added.

The University of Chicago-educated CEO, who took the reins in early January, has long been vocal about the need to slim down the sprawling firm and focus on core activities such as exploration and production. Thursday’s comments were some of his most assertive on the matter.

Why Investors Are Calling ASDN the TPC of the Sky!

Continue Reading

Business

Chesapeake Energy Corporation (CHK), Best Buy Co., Inc. (BBY) Are Top Early-Market Movers

Published

on

By

Shares of Chesapeake Energy Corporation (CHK) shot up 8% in first hour Wednesday, after the oil and gas production company reported fourth-quarter earnings and revenue that beat expectations, and provided an upbeat outlook. Net income rose to $486 million, or 49 cents a share, from $309 million, or 33 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted EPS fell to 21 cents from 30 cents but beat the FactSet consensus of 18 cents.

Total revenue rose 22% to $3.07 billion, as oil, natural gas and natural-gas equivalent revenue jumped 38% to $1.73 billion. The FactSet consensus for total sales was $2.28 billion for oil and gas sales was $1.10 billion. Average daily production fell 7% to 464,000 barrels of oil equivalent (BOE) while production expenses increased 15% to $2.87 BOE. The company projects 2019 average daily oil production to increase about 32%, capital expenditures are expected to be flat and cash flow is expected to be “meaningfully stronger.” The stock has lost 12% over the past three months through Tuesday, while the SPDR Energy Select Sector ETF has gained 1.5% and the S&P 500 has advanced 4.2%.

Wow the future of Autonomous flight is finally here with the launch of ASDN passenger drone Elroy

Best Buy Co., Inc. (BBY)jumped after the gadget retailer lent a spark to what had been a gloomy earnings season by delivering holiday sales that outpaced projections and a full-year profit outlook that topped analysts’ estimates.

Comparable-store sales in the U.S. — the retailer’s most-watched metric — rose 3 percent in the fourth quarter, beating projections. The midpoint of its profit forecast for the current fiscal year also topped estimates, sending the shares up as much as 16 percent.

The shares climbed as high as $69.85 in New York Wednesday, the biggest intraday gain since May 2017. The shares had already been up 14 percent this year through Tuesday’s close, outpacing the S&P 500 Index.

ASDN could be a potential acquisition target for Uber as it develops its patents and tech for the long awaited Uber Air

Continue Reading
Advertisement

Trending