Thursday, August 9, 2012

Wednesday’s Recap (SIRI, SEM, VRNG, GNMK, APPY)

Sirius XM Radio Inc (NASDAQ:SIRI) shares jumped 7.40% to close at $2.47 on Wednesday. The company announced that it has priced an offering of $400 million of Senior Notes due 2022. The company will receive gross proceeds of $400 million from the sale of the notes before deducting the initial purchasers' commissions and estimated offering fees and expenses.

Additionally, the company reported a second quarter profit of $3.1billion, or $0.48 a share, up from $173.3 million, or $0.03 a share, a yearearlier. Revenue jumped 13% to $837.5 million. Analysts had most recentlyforecast earnings of two cents on revenue of $834 million.

Should You Buy SIRI Despite Recent rally? Know More By Reading Trend Analysis

Moreover, the company expects fiscal 2012 revenue of $3.4billion and adjusted EBITDA of approximately $900 million. Analysts areexpecting the company to report revenue of $3.38 billion and EBITDA of $958million for fiscal 2012.

Select Medical Holdings Corporation (NYSE:SEM) had its price target increased by Bank of America from $11.50 to $12.50 in a research report sent to investors yesterday. The firm currently has a neutral rating on the stock.

The company posted second-quarter profit of $44.8 million or $0.31 per share from $31.7 million or $0.08 per share in the same period last year. Operating revenues totaled $750.2 million, up 7.4% from $698.7 million last year. Analysts expected the company to earn $0.24 per share on revenues of $730.39 million.

Vringo, Inc. (NYSEAMEX:VRNG) stock gained 0.29% to $3.45 in the after hour trading. AOL Inc. (AOL) on August 6, 2012, agreed to settle part of a patent dispute brought by video-ringtone company Vringo Inc. (VRNG), giving Vringo another potential win in its ongoing lawsuit against some of the biggest names in the technology sector. Details of the settlement were confidential and Vringo declined to comment.

Get Free Trend Analysis on VRNG

GenMark Diagnostics, Inc (NASDAQ:GNMK) posted second quarter revenues of $3.6 million, as compared with $901,000 during the second quarter of 2011. Loss per share was $0.26 for the second quarter of 2012, compared with a loss per share of $0.39 in the same quarter last year.

Additionally, the company ended the second quarter of 2012 with $64.2 million in cash and cash equivalents. The Company intends to continue utilizing its cash balances to invest in new product and menu development, including the development of its NexGen platform, and for infrastructure improvements and general corporate purposes. 

AspenBio Pharma, Inc. (NASDAQ:APPY) on August 7, 2012, announced that it has submitted a pre-IDE (Investigational Device Exemption) information package to the U. S. Food and Drug Administration (FDA) for the use of the AppyScore(TM) test system to aid physicians in evaluating children and young adult patients at low risk for acute appendicitis, allowing for more conservative patient management. In conjunction with the pre-IDE package, the company has scheduled a meeting with the FDA prior to the end of the third quarter to work cooperatively on the clinical and regulatory plan.

No comments:

Post a Comment

Privacy Policy | Legal Disclaimer