Analysts: Cobalt International Energy, Inc. (NYSE:CIE) Stock Could Go to 11.00

Analysts are weighing in on how Cobalt International Energy, Inc. (NYSE:CIE), might perform in the near term. Wall Street analysts have a much less favorable assessment of the stock, with a mean rating of 2.5. The stock is rated as buy by 0 analysts, with 0 outperform and 0 hold rating. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for strong sell.

For the current quarter, the 9.00 analysts offering adjusted EPS forecast have a consensus estimate of $-0.13 a share, which would compare with $-0.17 in the same quarter last year. They have a high estimate of $-0.06 and a low estimate of $-0.20. Revenue for the period is expected to total nearly $4.53M.

For the full year, 9.00 Wall Street analysts forecast this company would deliver earnings of -0.43 per share, with a high estimate of $-0.27 and a low estimate of $-0.66. It had reported earnings per share of $-0.60 in the corresponding quarter of the previous year. Revenue for the period is expected to total nearly $31.72M.

The analysts project the company to maintain annual growth of around 3.72% percent over the next five years as compared to an average growth rate of 8.79% percent expected for its competitors in the same industry.

Among the 10 analysts Data provided by Thomson/First Call tracks, the 12-month average price target for CIE is $6.30 but some analysts are projecting the price to go as high as $11.00. If the optimistic analysts are correct, that represents a 518 percent upside potential from the recent closing price of $1.78. Some sell-side analysts, particularly the bearish ones, have called for $3.00 price targets on shares of Cobalt International Energy, Inc. (NYSE:CIE).

In the last reported results, the company reported earnings of $-0.17 per share, while analysts were calling for share earnings of $-0.19. It was an earnings surprise of 10.50%percent. In the matter of earnings surprises, the term Cockroach Effect is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.

Cobalt International Energy, Inc., through its subsidiaries, operates as an oil and gas exploration and production company primarily in the deepwater U.S. Gulf of Mexico. The company holds interests in the North Platte, Shenandoah, Anchor, and Heidelberg fields located in the U.S. Gulf of Mexico; and the Diaba block located offshore Gabon. As of December 31, 2015, it had net proved undeveloped reserves of 5.6 million barrels (MMBbls) of oil; 0.3 MMBbls of natural gas liquids; and 1.8 billion cubic feet of natural gas. The company was founded in 2005 and is based in Houston, Texas.

Premarket Runners: Vonage Holdings Corp (NYSE:VG), Eldorado Gold Corp (USA)(NYSE:EGO)

 

Vonage Holdings Corp.(NYSE:VG) stock dropped -0.18% in today’s pre market session with the price of $5.40. Over the last one month and over the past three months, Vonage Holdings shares gained 30.99% and 17.86%, respectively. Furthermore, the stock has plummeted -5.75% since the start of this year. The company’s shares are trading 20.14% above their 50-day moving average. Additionally, Vonage Holdings has an RSI of 74.57 and beta of 1.19.

Vonage Holdings Corp. (VG) June 6, 2016 announced that Company executives will participate in the following investor conferences:

Citi 2016 Small & Mid Cap Conference

Thursday, June 09, 2016 at 12:50 p.m. ET

New York, New York

William Blair Growth Stock Conference

Wednesday, June 15, 2016 at 4:40 p.m. CT

Chicago, Illinois

A live webcast of each event will be available live on Vonage’s Investor Relations website at http://ir.vonage.com. A replay will be available shortly after the live webcast.

 

Eldorado Gold Corp (USA)(NYSE:EGO) stock on Friday’s pre market session gained 2.31% at price of $4.42. Over the last one month and the previous three months, Eldorado Gold Corp shares lost -12.20% and rose 21.35%, respectively. Additionally, the stock has surged 45.45% since the beginning of 2016. The company’s shares are trading above their 50-day and 200-day moving averages by 4.11% and 28.50%, respectively.

Eldorado Gold Corporation, June 13, 2016 announced that the Company has renewed its revolving credit facility.

The amended and restated credit agreement (the “ARCA”) includes available credit of US$250 million, an accordion feature of US$100 million, and an extension of the term to June 13, 2020 from November 23, 2016.

The terms of the ARCA are favorable to the Company and consistent with current market standards.  HSBC Securities (USA) Inc. is Lead Arranger and sole Bookrunner.  Lenders include HSBC Bank USA, N.A., JP Morgan Chase Bank N.A., Bank of America N.A., and Export Development Canada.  HSBC Bank Canada will act as Administrative Agent for the Lenders.

“Funds from the renewed facility will continue to provide strength to our balance sheet” said Paul Wright, President and Chief Executive Officer of Eldorado Gold.  “The accordion feature of the ARCA allows us to increase the principle amount of the facility to US$350 million which provides additional flexibility as we continue to develop and operate our assets.”

Pre-Market Trend Analysis Report: Cavium Inc.(NASDAQ:CAVM), DineEquity Inc. (NYSE:DIN)

Cavium Inc. (NASDAQ:CAVM) stock dropped -13.71% in today’s pre market session with the price of $41.59. Over the last one month and over the past three months, Cavium, Inc’s shares gained 3.05% and lost -21.32%, respectively. Furthermore, the stock has plummeted -26.95% since the start of this year. The company’s shares are trading -6.39% below their 50-day moving average. Additionally, Cavium, Inc has an RSI of 46.16 and beta of 1.65.

Cavium, Inc. a leading provider of semiconductor products that enable intelligent processing for enterprise, data center, cloud, wired and wireless networking, and QLogic Corp. (QLGC) (“QLogic”), a leading supplier of high performance networking infrastructure solutions, June 15, 2016 announced that they have entered into a definitive agreement for Cavium to acquire all of the outstanding QLogic common stock for approximately $15.50 per share, comprised of $11.00 per share in cash and 0.098 of a share of Cavium common stock for each share of QLogic common stock (valued at approximately $4.50 based on the volume weighted average Cavium trading price for the three trading days beginning June 10, 2016), through an exchange offer. The transaction values QLogic at approximately $1.36 billion in equity value, inclusive of approximately $355 million of cash on QLogic’s balance sheet, and has been unanimously approved by the boards of directors of both companies.

Opportunity to drive significant growth at scale in data center and storage markets: QLogic’s leading portfolio of advanced connectivity and storage solutions is highly complementary to Cavium’s extensive portfolio of networking, compute, and security solutions. The combination enables Cavium to offer a complete end-to-end offering to customers in Enterprise, Cloud, Data Center, Storage, Telco and Networking markets. QLogic adds an incremental $2+ billion market opportunity for Cavium.

Substantial customer and revenue diversification: The combined customer base includes market leading OEMs and end-customers across a broad set of end markets that diversifies Cavium’s revenue and presents a unique opportunity to accelerate further growth.

$0.60 to $0.70 of accretion to Cavium’s CY 2017 non-GAAP EPS: The combined company will have nearly $900 million in LTM revenue, with strong profitability and cash flow generation. There are $45 million of identified annualized cost synergies across COGS and operating expenses expected to be realized by the end of 2017. The transaction is expected to create significant value for the shareholders of both companies.

“Today’s acquisition of QLogic is highly complementary and strategic to Cavium and it creates a diversified pure-play infrastructure semiconductor leader,” stated Syed Ali, President and Chief Executive Officer of Cavium.  “QLogic’s industry leading products extend our market position in data center, cloud and storage markets, and further diversifies our revenue and customer base. In addition to the compelling strategic benefits, the manufacturing, sales and operating synergies will create significant value for our shareholders.”

 

DineEquity Inc. (NYSE:DIN) stock on Friday’s pre market session gained 6.01% at price of $87.48. Over the last one month and the previous three months, DineEquity Inc’s shares gained 1.38% and ticked down -11.07%, respectively. Additionally, the stock has surged -0.48% since the beginning of 2016. The company’s shares are trading above their 50-day and 200-day moving averages by -4.36% and -4.50%, respectively.

DineEquity, Inc., one of the world’s largest full service restaurant companies, will enter the Panama market with the first IHOP® restaurant opening on May 23 in Panama City, it was announced by Daniel del Olmo, President of International, DineEquity Inc.  The restaurant is one of six IHOP locations planned for Panama during the next five years under an agreement with franchise partner Collins Rada Group Inc. and its affiliates.

Located in Costa del Este, Avenida Centenario, Rada Plaza, Ciudad de Panamá, the restaurant is expected to bring 150 new jobs to the economy as well as additional tax revenue and ongoing local spending on supplies, ingredients and marketing and other services.

“We are delighted to bring the world famous IHOP menu and hospitality to our guests in Panama,” said del Olmo.  “We’ve been interested in being part of this vibrant and growing market for some time, but wanted to ensure that we found a franchise partner that shared our commitment to bringing the very best of the brand to the country.  We’re confident that with the Collins Rada Group, IHOP will bring its heritage of ‘Spreading Happiness Since 1958’ to this location and others to come.”

“We have been fans of IHOP’s unparalleled breakfast offerings and lunch and dinner entrees for years,” said Wendy Collins, Collins Rada Group Inc. “We’ve always felt that the unique IHOP experience and food would be a great match for Panama and we are delighted and excited to bring it here.  We look forward to many years of ‘spreading happiness’ in Panama City and around the country and we are already actively looking for our next location.”

Pre-Market Investor’s Watch List: Bitauto Hldg Ltd (ADR)(NYSE:BITA), AudioCodes Ltd.(NASDAQ:AUDC)

Bitauto Hldg Ltd (ADR)(NYSE:BITA stock dropped -7.74% in today’s pre market session with the price of $23.00. Over the last one month and over the past three months, Bitauto Hldg’s shares gained 27.32% and lost -4.04%, respectively. Furthermore, the stock has plummeted -11.85% since the start of this year. The company’s shares are trading 4.81% above their 50-day moving average. Additionally, Bitauto Hldg has an RSI of 59.08 and beta of 2.58.

Bitauto Holdings Limited (BITA) a leading provider of internet content and marketing services for China’s fast-growing automotive industry, Tencent Holdings Limited  a leading provider of comprehensive internet services in China, Baidu, Inc. (BIDU) the leading Chinese language internet search provider,  and JD.com, Inc. (JD) the leading online direct sales company in China, today jointly announced that they have entered into definitive agreements pursuant to which Tencent, Baidu and JD.com each agree to invest US$50 million in Bitauto.

Tencent, Baidu and JD.com each agree to purchase 2,471,577 newly issued ordinary shares of Bitauto at US$20.23 per share, corresponding to US$20.23 per American depositary share of Bitauto (“ADS”), each representing one ordinary share of the Company. The purchase price represents the average volume weighted closing trading price of Bitauto’s ADSs for the five trading days prior to the signing of the definitive agreements. The transaction is subject to customary closing conditions.

Bitauto also announced that pursuant to definitive agreements entered into by and between Bitauto and PA Grand Opportunity Limited (“PAG”), the Company agrees to issue convertible bonds (“CBs”) to PAG and/or its affiliates in an aggregate principal amount of up to US$150 million. The CBs will be due in five years from the date of issuance and will have an interest rate of 2.00% per annum. At any time after three months of the CBs issuance, at the option of the holders, the CBs are convertible into ordinary shares or ADSs of the Company. The initial conversion price will be US$23.67 per ADS. Mr. William Li, chief executive officer and chairman of Bitauto will indirectly purchase a portion of the CBs through PAG under a total return swap arrangement with PAG.

AudioCodes Ltd. (NASDAQ:AUDC) stock on Friday’s pre market session gained 4.70% at price of $4.01. Over the last one month and the previous three months, AudioCodes Ltd shares lost 1.29% and ticked down -15.27%, respectively. Additionally, the stock has dropped -1.79% since the beginning of 2016. The company’s shares are trading above their 50-day and 200-day moving averages by -6.74% and -4.25%, respectively.

AudioCodes (AUDC), a leading provider of converged voice solutions that enable enterprises and service providers to transition to all-IP voice networks, June 15, 2016 announced that it is commencing a self-tender offer to purchase up to 3,000,000 ordinary shares of AudioCodes, nominal (par) value NIS 0.01 per share, at a price of $4.35 per share, net to the seller in cash, less any applicable withholding taxes, and without interest, upon the terms of, and subject to the conditions set forth in, an Offer to Purchase, dated June 16, 2016 and the related Letter of Transmittal, to be filed today with the U.S. Securities and Exchange Commission (SEC) and with the Israeli Securities Authority (ISA). The maximum amount of ordinary shares subject to this tender offer represent, as of June 13, 2016, approximately 8.2% of AudioCodes’ issued and outstanding shares (excluding 18,732,638 shares held as treasury shares) and of its voting power.

As of June 13, 2016, there were 36,382,167 AudioCodes shares issued and outstanding (excluding 18,732,638 AudioCodes shares held as treasury shares).  As a result, if AudioCodes purchases the maximum of 3,000,000 shares subject to the tender offer, it would have 33,382,167 shares issued and outstanding, excluding shares held as treasury shares.

On June 15, 2016, the last full trading day on NASDAQ and on the Tel Aviv Stock Exchange before commencement of the tender offer, the closing sale price of AudioCodes’ ordinary shares was $3.83 per share on NASDAQ and NIS 14.50 per share ($3.74 based on an exchange rate of NIS 3.875 per U.S. dollar as of June 15, 2016) on the Tel Aviv Stock Exchange.

The offer period and withdrawal rights are scheduled to expire at 10:00 a.m., New York time, or 5:00 p.m., Israel time, on July 20, 2016, unless the offer period is extended by AudioCodes.

Pre-Market Investor’s Alert: bluebird bio Inc (NASDAQ:BLUE), QLogic Corporation (NASDAQ:QLGC)

Bluebird bio Inc. (NASDAQ:BLUE) stock dropped -6.47% in today’s pre market session with the price of $38.00. Over the last one month and over the past three months, bluebird bio, Inc’s shares gained 4.91% and lost -8.82%, respectively. Furthermore, the stock has plummeted -36.73% since the start of this year. The company’s shares are trading -8.56% below their 50-day moving average. Additionally, bluebird bio, Inc has an RSI of 41.21.

bluebird bio, Inc. (BLUE), a clinical-stage company committed to developing potentially transformative gene therapies for severe genetic diseases and T cell-based immunotherapies for cancer, May 23, 2016 announced that members of the management team will present at the Goldman Sachs 37th Annual Healthcare Conference on June 8, 2016 at 8:00 am PT (11:00 am ET). The conference is being held June 7-9, 2016 at the Terranea Resort in Rancho Palos Verdes, Calif.

To access the live webcast of bluebird bio’s presentation, please visit the “Events & Presentations” page within the Investors and Media section of the bluebird bio website at http://investor.bluebirdbio.com. Replays of the webcasts will be available on the bluebird bio website for 90 days following the conferences.

 

QLogic Corporation (NASDAQ:QLGC) stock on Friday’s pre market session gained 10.93% at price of $15.02. Over the last one month and the previous three months, QLogic shares gained 1.80% and 2.81%, respectively. Additionally, the stock has surged 10.98% since the beginning of 2016. The company’s shares are trading above their 50-day and 200-day moving averages by 1.31% and 10.01%, respectively.

Cavium, Inc. a leading provider of semiconductor products that enable intelligent processing for enterprise, data center, cloud, wired and wireless networking, and QLogic Corp. (QLGC),  a leading supplier of high performance networking infrastructure solutions, June 15, 2016 announced that they have entered into a definitive agreement for Cavium to acquire all of the outstanding QLogic common stock for approximately $15.50 per share, comprised of $11.00 per share in cash and 0.098 of a share of Cavium common stock for each share of QLogic common stock (valued at approximately $4.50 based on the volume weighted average Cavium trading price for the three trading days beginning June 10, 2016), through an exchange offer. The transaction values QLogic at approximately $1.36 billion in equity value, inclusive of approximately $355 million of cash on QLogic’s balance sheet, and has been unanimously approved by the boards of directors of both companies.

Opportunity to drive significant growth at scale in data center and storage markets: QLogic’s leading portfolio of advanced connectivity and storage solutions is highly complementary to Cavium’s extensive portfolio of networking, compute, and security solutions. The combination enables Cavium to offer a complete end-to-end offering to customers in Enterprise, Cloud, Data Center, Storage, Telco and Networking markets. QLogic adds an incremental $2+ billion market opportunity for Cavium.

Substantial customer and revenue diversification: The combined customer base includes market leading OEMs and end-customers across a broad set of end markets that diversifies Cavium’s revenue and presents a unique opportunity to accelerate further growth.

$0.60 to $0.70 of accretion to Cavium’s CY 2017 non-GAAP EPS: The combined company will have nearly $900 million in LTM revenue, with strong profitability and cash flow generation. There are $45 million of identified annualized cost synergies across COGS and operating expenses expected to be realized by the end of 2017. The transaction is expected to create significant value for the shareholders of both companies.

“Today’s acquisition of QLogic is highly complementary and strategic to Cavium and it creates a diversified pure-play infrastructure semiconductor leader,” stated Syed Ali, President and Chief Executive Officer of Cavium.  “QLogic’s industry leading products extend our market position in data center, cloud and storage markets, and further diversifies our revenue and customer base. In addition to the compelling strategic benefits, the manufacturing, sales and operating synergies will create significant value for our shareholders.”

Pre-Market Investor’s Alert: Biostar Pharmaceuticals Inc(NASDAQ:BSPM), Patriot National Inc(NYSE:PN)

Biostar Pharmaceuticals Inc. (NASDAQ:BSPM) stock dropped -10.74% in today’s pre market session with the price of $4.32. Over the last one month and over the past three months, Biostar Pharmaceuticals, Inc’s shares gained 278.13% and 128.30%, respectively. Furthermore, the stock rose 72.86% since the start of this year. The company’s shares are trading 199.36% above their 50-day moving average. Additionally, Biostar Pharmaceuticals, Inc has an RSI of 80.60 and beta of 2.52.

Biostar Pharmaceuticals, Inc. a PRC-based manufacturer and marketer of pharmaceutical and health supplement products in China for a variety of diseases and conditions, May 23, 2016 announced its financial results for the first quarter ended March 31, 2016.

During the fiscal first quarter of 2016, the Company recognized:

Net sales of $0.8 million, a decrease of approximately $6.1 million, or 88.4% as compared to the same period in 2015.

Gross profit decreased by approximately $3.2 million, or 90.4% for the three months ended March 31, 2016 as compared to the same period in 2015.

Sales of Shaanxi Weinan Products increased by approximately $0.4 million, or 88.0% as compared to the same period in 2015.

Net loss of $0.6 million as compared to net loss of $0.2 million for the first quarter 2015.

The sales of Shaanxi Weinan’s products increased during the three months ended March 31, 2016 as compared to the same period in 2015. After Shaanxi Weinan received the renewed GMP certificate in June 2015, the sales volume has been slowly climbing back to the anticipated volume. There were no sales for Aoxing Pharmaceutical Products and hospital products as the Company has temporarily stopped production for the maintenance of its production lines in order to renew its GMP certificates, which is expected to be completed by the second quarter of 2016. Net sales and related gross profit both decreased significantly as result of these maintenance efforts. In anticipation of reduced sales volume as result of decreased production capacity, the Company temporarily suspended all advertising and research activities during the three months ended March 31, 2016.

 

Patriot National Inc. (NYSE:PN) stock on Friday’s pre market session gained 30.06% at price of $9.00. Over the last one month and the previous three months, Patriot National Inc’s shares lost -11.28% and gained 12.70%, respectively. Additionally, the stock has surged 3.13% since the beginning of 2016. The company’s shares are trading below their 50-day and 200-day moving averages by -13.49% and -29.39%, respectively.

Patriot National, Inc. a leading provider of technology and outsourcing solutions, May 12, 2016 announced its financial results for the quarter ended March 31, 2016.

Highlights:

For the quarter ended March 31, 2016:

(Comparisons to the corresponding prior-year period)

Total Revenues increased 50% to $64.6 million

Total Fee Income increased 51% to $64.9 million

GAAP Net Income was $3.4 million, or $0.12 per diluted share

Adjusted Earnings was $5.8 million, or $0.21 per diluted share

Adjusted EBITDA of $15.7 million, up 45%

Operating Cash Flow of $10.3 million, up 25%

Q1 operating efficiency initiatives result in $7 million of annualized savings; $400,000 realized during the first quarter

Patriot Technology Solutions’ PN InsuranceExpert was awarded new contracts from an existing client valued at $3.2 million, with an additional $3.0 million expected from contracts in process

Premarket Runners: Alphabet (NASDAQ:GOOGL), EXACT Sciences Corp. (NASDAQ:EXAS)

Alphabet Inc. (NASDAQ:GOOGL) stock dropped -0.07% in today’s pre market session with the price of $732.75. Over the last one month and over the past three months, Alphabet Inc,s shares gained 1.05% and lost -1.38%, respectively. Furthermore, the stock has plummeted -5.35% since the start of this year. The company’s shares are trading -0.78% below their 50-day moving average. Additionally, Alphabet Inc has an RSI of 45.00.

Google (GOOG) and IMAX Corporation (IMAX) May 20, 2016 announced at Google’s annual developer conference, Google I/O, that the companies are working to develop a cinema-grade virtual reality (VR) camera – the IMAX® VR camera – to enable today’s leading filmmakers and content creators to deliver the highest-quality 3D 360-degree content experiences to audiences worldwide.

IMAX’s team of engineers and camera specialists will work with Google to design the new high-resolution cameras from the ground up, leveraging IMAX’s best-in-class capture technology that has become an integral tool for today’s biggest and most visionary filmmakers including Christopher Nolan, J.J. Abrams, Michael Bay, Anthony and Joe Russo, and Zack Snyder, among others. The camera, which will be built to utilize Jump, a platform for creating and viewing 3D 360 video, will deliver the highest-quality, most-immersive virtual reality content to consumers.

“For nearly 50 years, IMAX has pioneered moving image capture to allow filmmakers to produce the highest resolution images across 2D, 3D, film and digital formats, said IMAX Corp. CEO, Richard L. Gelfond.  “Today’s partnership with Google takes us into the next frontier of immersive experiences – virtual reality – and we look forward to working with them to provide our filmmaker partners and other content creators with a level of VR capture quality not yet seen in this space. VR marks an exciting area of opportunity for IMAX and we believe this agreement, which enables us to participate in image capture and content creation, is an important first step in our broader VR strategy.”

IMAX developed its first 2D 15perf / 65mm film camera in 1976. To this day, it remains the highest-resolution camera in the world – providing approximately 10x more resolution than 35mm film. IMAX has built out a suite of high-end capture devices – including recent developments of a lightweight 3D digital camera as well as a new cutting-edge 2D digital camera developed in partnership with ARRI.

“IMAX is known everywhere for their incredible immersive cinematography and sound, and we’re delighted to have them contribute their decades of experience in cameras and content to the Jump platform,” said Clay Bavor, VP, Virtual Reality at Google.

IMAX will also provide Google with exclusive access to pre-existing IMAX documentary content for conversion and use with Google’s VR technology.

 

 

EXACT Sciences Corporation (NASDAQ:EXAS) stock on Friday’s pre market session gained 13.31% at price of $10.64. Over the last one month and the previous three months, EXACT Sciences shares gained 65.32% and 52.44%, respectively. Additionally, the stock has surged 1.73% since the beginning of 2016. The company’s shares are trading above their 50-day and 200-day moving averages by 40.22% and 3.90%, respectively.

Exact Sciences Corp. June 3, 2016 announced that Jeff Elliott, a former senior research analyst who covered the diagnostic and lab industries, will join the company as vice president, business development and strategy, effective June 20, 2016.  In his new role, Mr. Elliott will oversee the identification and pursuit of strategic business opportunities, while also helping drive Cologuard’s continued success.

“As momentum increases for Cologuard ordering and commercial insurance coverage, Jeff’s knowledge of our industry will help shape Exact Sciences’ continued growth,” said Kevin Conroy, chairman and CEO of Exact Sciences.  “He is a respected expert in the industry who brings a unique understanding of the factors that will drive the company’s long-term success.”

Mr. Elliott’s experience includes nearly nine years at Robert W. Baird & Co., most recently as a senior research analyst who covered diagnostics and life science tools companies.  Earlier in his career, Mr. Elliott worked in a supply chain role for Walgreens and as a consultant at Cap Gemini Ernst & Young.  He earned a Bachelor of Science in Business Administration from the University of Illinois at Urbana-Champaign and a Master of Business Administration from the University of Chicago Booth School of Business.  Mr. Elliott is a CFA charterholder.

Mr. Elliott will report to Mr. Conroy.

Noteworthy Movers in Pre-Market: Sophiris Bio (NASDAQ:SPHS), Tesla Motors (NASDAQ:TSLA)

Sophiris Bio Inc. (NASDAQ:SPHS) stock gained 8.80% in today’s pre market session with the price of $2.35. Over the last one month and over the past three months, Sophiris Bio, Inc’s shares gained 122.68% and 22.03%, respectively. Furthermore, the stock has plummeted -21.35% since the start of this year. The company’s shares are trading 15.56% above their 50-day moving average. Additionally, Sophiris Bio, Inc has an RSI of 83.35 and beta of 1.39.

Sophiris Bio Inc. a biopharmaceutical company developing PRX302 (topsalysin) for the treatment of urological diseases, June 10, 2016 announced the biopsy results from all 18 patients enrolled in the Phase 2a proof of concept study of topsalysin in localized prostate cancer. The one-time administration of topsalysin was well tolerated with no serious adverse events and no new safety signals being reported. Topsalysin demonstrated an ability to ablate tumor cells in 50 percent of patients (9/18 patients) six months after treatment in a patient population with pre-identified, clinically significant prostate cancer. The results support advancing topsalysin into a Phase 2 study to confirm dose and optimize delivery.

“These promising early results open up the possibility of treating early prostate cancer by the simple administration of an injection into the prostate – something that could be done in an office setting,” according to Dr. Mark Emberton, Investigator, Dean, Faculty of Medical Sciences, University College London and Honorary Consultant Urologist at University College London Hospital NHS Foundation Trust.

All 18 patients enrolled completed the study. Biopsy data at six months following treatment showed that:

Two men experienced complete ablation of their targeted tumor with no evidence of any tumor remaining at 6 months;

Seven men experienced a partial response, defined as either a reduction in the maximum cancer core length or a reduction in Gleason pattern;

Nine patients had no response to treatment.

Tesla Motors Inc(NASDAQ:TSLA) stock on Friday’s pre market session gained 1.30% at price of $217.75. Over the last one month and the previous three months, Tesla Motors Inc’s shares gained 3.54% and ticked down -1.55%, respectively. Additionally, the stock has lost -10.44% since the beginning of 2016. The company’s shares are trading above their 50-day and 200-day moving averages by -7.04% and -2.85%, respectively.

May 4, 2016 Tesla ( NASDAQ : TSLA ) has released its financial results for the first quarter ended March 31, 2016, by posting the current Update Letter on its website. Please visit the investor relations section of the Tesla website at http://ir.teslamotors.com to view the letter.

 

As previously announced, Tesla management will host a live question & answer (Q&A) webcast at 2:30 p.m. Pacific Time (5:30 p.m. Eastern Time) to discuss the results and outlook.

What: Tesla First Quarter 2016 Financial Results Q&A Webcast

When: Wednesday, May 4, 2016

Time: 2:30 p.m. Pacific Time / 5:30 p.m. Eastern Time

Shareholder Letter: http://ir.teslamotors.com

Webcast: http://ir.teslamotors.com (live and replay)

The webcast will be archived on the company’s website following the call.

Pre-Market Stocks Roundup: Best Buy Co (NYSE:BBY), Facebook (NASDAQ:FB)

Best Buy Co Inc(NYSE:BBY) stock dropped -1.95% in today’s pre market session with the price of $28.60. Over the last one month and over the past three months, Best Buy Co, Inc’s shares lost -4.87% and -7.38%, respectively. Furthermore, the stock has plummeted -1.15% since the start of this year. The company’s shares are trading -7.31% below their 50-day moving average. Additionally, Best Buy Co, Inc has an RSI of 35.20 and beta of 1.47.

May 25, 2016, The Board of Directors of Best Buy Co., Inc. has authorized the payment of a regular quarterly cash dividend of $0.28 per common share. The quarterly dividend is payable on July 5, 2016, to shareholders of record as of the close of business on June 14, 2016. The company had 323,658,272 shares of common stock issued and outstanding as of April 30, 2016.

Contact:

Best Buy Co., Inc.

Investor Contact:

Mollie O’Brien, 612-291-7735

mollie.obrien@bestbuy.com

Media Contact:

Jeff Shelman, 612-291-6114

jeffrey.shelman@bestbuy.com

 

Facebook Inc(NASDAQ:FB) stock on Friday’s pre market session gained 0.23% at price of $115.20. Over the last one month and the previous three months, Facebook Inc’s shares lost -4.06% and gained 3.86%, respectively. Additionally, the stock has surged 9.82% since the beginning of 2016. The company’s shares are trading above their 50-day moving averages by -0.66%.

May 26, 2016, Microsoft and Facebook (FB) announced an agreement to build a new, state-of-the-art subsea cable across the Atlantic.  The new “MAREA” cable will help meet the growing customer demand for high speed, reliable connections for cloud and online services for Microsoft, Facebook and their customers. The parties have cleared conditions to go Contract-In-Force (CIF) with their plans, and construction of the cable will commence in August 2016 with completion expected in October 2017.

Microsoft and Facebook are collaborating on this system to accelerate the development of the next-generation of Internet infrastructure and support the explosion of data consumption and rapid growth of their respective cloud and online services. MAREA will be the highest-capacity subsea cable to ever cross the Atlantic – eight fiber pairs and an initial estimated design capacity of 160Tbps. The new 6,600 km submarine cable system, to be operated and managed by Telxius, Telefónica’s new telecommunications infrastructure company, will also be the first to connect the United States to southern Europe, from the data hub of Northern Virginia to Bilbao, Spain and then to network hubs in Europe, Africa, the Middle East and Asia. This route is south of other transatlantic cable systems, thereby helping ensure more resilient and reliable connections for customers in the United States, Europe, and beyond.

Microsoft and Facebook designed MAREA to be interoperable with a variety of networking equipment. This new “open” design brings significant benefits for customers:  lower costs and easier equipment upgrades which leads to faster growth in bandwidth rates since the system can evolve at the pace of optical technology innovation.

Pre-Market Trend Analysis Report: Western Gas Equity Partners (NYSE:WGP), Helmerich & Payne, Inc.(NYSE:HP)

Western Gas Equity Partners LP. (NYSE:WGP) stock dropped -9.20% in today’s pre market session with the price of $37.90. Over the last one month and over the past three months, Western Gas Equity Partners shares gained 2.91% and 32.23%, respectively. Furthermore, the stock has gained 17.91% since the start of this year. The company’s shares are trading 4.81% above their 50-day moving average. Additionally, Western Gas Equity Partners has an RSI of 48.39 and beta of 1.73.

Western Gas Equity Partners, LP (WGP) Monday June 13, 2016 announced that Western Gas Resources, Inc. (“Western Gas Resources”), a subsidiary of Anadarko Petroleum Corporation, priced a previously announced underwritten offering of 12,500,000 common units representing limited partner interests. Total gross proceeds to Western Gas Resources from the offering (before the underwriting discount and estimated offering expenses) will be approximately $481 million. Western Gas Resources has granted the underwriters a 30-day option to purchase up to 1,875,000 additional common units. The offering is expected to settle and close on June 17, 2016, subject to customary closing conditions.

Goldman, Sachs & Co. and Morgan Stanley & Co. LLC are acting as joint book-running managers of the offering and have offered, and may offer, the common units at prevailing market prices or otherwise from time to time through the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise. The offering will be made by Western Gas Resources only by means of a prospectus and related prospectus supplement, copies of which may be obtained from Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, New York 10282, telephone 1-866-471-2526, facsimile 212-902-9316, e-mail prospectus-ny@ny.email.gs.com; or from Morgan Stanley, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department. An electronic copy of the prospectus and prospectus supplement is available from the U.S. Securities and Exchange Commission’s website at http://www.sec.gov.

 

Helmerich & Payne, Inc.(NYSE:HP) stock on Friday’s pre market session gained 5.87% at price of $68.01. Over the last one month and the previous three months, Helmerich & Payne Inc’s shares gained 9.53% and 6.31%, respectively. Additionally, the stock has surged 23.13% since the beginning of 2016. The company’s shares are trading above their 50-day and 200-day moving averages by 6.53% and 18.47%, respectively.

May 2, 2016, Helmerich & Payne, Inc. (HP) reported net income of $21 million ($0.19 per diluted share) from operating revenues of $438 million for the second quarter of fiscal 2016, compared to net income of $154 million ($1.41 per diluted share, as adjusted) from operating revenues of $886 million during the second quarter of fiscal 2015, and net income of $16 million ($0.15 per diluted share) from operating revenues of $488 million during the first quarter of fiscal 2016.  Included in net income per diluted share for this year’s and last year’s second fiscal quarters as well as this year’s first fiscal quarter are approximately $0.47, $0.40, and $0.10, respectively, of after-tax income related to a combination of select items (including long-term contract early termination compensation from customers) as described in a separate section of this press release.

President and CEO John Lindsay commented, “These are demanding times in the energy service space, and the challenge for many is now one of survival.   The U.S. land rig count is comparable to the all-time record lows reached in 1999.  Sharp reductions in personnel, expenses, and investments are occurring worldwide, and we expect to see further deterioration in terms of drilling activity during the third fiscal quarter.

“But even if this difficult environment persists, we believe that H&P’s competitive and financial positions remain very strong.  Our long-term contracts have allowed the Company to remain profitable and protect FlexRig®* investments.  We are able to focus energy on efforts that add value to our customers and help us to become even more efficient and effective as an organization.  Whether we see more declines in activity or a significant improvement in demand, H&P is well positioned to respond.  As we have described in the past, our strong and liquid balance sheet, robust backlog, and lower spending requirements should allow us to continue to return cash to shareholders.  Our strength is driven by our people, and we appreciate their attitude in the face of this adversity and their dedication to the Company through these difficult times.”