Active Stocks in Pre-Market: Facebook Inc(NASDAQ:FB), Cellcom Israel Ltd.(NYSE:CEL)

Facebook Inc(NASDAQ:FB) stock dropped -0.05% in today’s pre market session with the price of $113.89. Over the last one month and over the past three months, Facebook, Inc’s shares lost -5.26% and gained 3.69%, respectively. Furthermore, the stock has gained 8.88% since the start of this year. The company’s shares are trading -1.51% above their 50-day moving average. Additionally, Facebook, Inc has an RSI of 37.91 and beta of 0.74.

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.

 

Cellcom Israel Ltd.(NYSE:CEL) stock on Friday’s pre market session gained 3.11% at price of $6.97. Over the last one month and the previous three months, Cellcom Israel shares lost -9.50% and gained 15.36%, respectively. Additionally, the stock has surged 9.03% since the beginning of 2016. The company’s shares are trading below their 50-day and 200-day moving averages by -12.01% and -2.27%, respectively.

June 13, 2016, Cellcom Israel Ltd. has taken note that the controlling shareholder of Hot Mobile Ltd. (“Hot”), another Israeli cellular operator, announced a non-exclusive long term agreement for the provision of hosting services to Golan Telecom on the network used by Hot, and financing arrangements to be provided by Hot and its controlling shareholders (the “Hot Agreement”), subject to the Israeli regulators’ approval and instructions. The Company has notified Golan Telecom and its shareholders that the Hot agreement constitutes material breaches of the Share Purchase Agreement (“SPA”) and National Roaming Agreement (“NRA”) between the Company and Golan Telecom, including a service exclusivity obligation and obligations not to materially change the business to be purchased. The Company further notified Golan Telecom and its shareholders that the breach of the SPA and the breach of the NRA (resulting with the transfer of any Golan’s customers traffic on Hot’s network), if not cured, would allow the Company to terminate the SPA and demand the immediate payment of the NIS 600 million + VAT National Roaming Gap (as defined in the SPA), demand the recovery of additional substantial discounts provided to Golan Telecom under the NRA and conditioned upon such exclusivity, which under preliminary calculations amount to approximately NIS 300 million, and demand compensation for future payments until the end of such exclusivity. The Company notified Golan Telecom and its shareholders that should Golan Telecom and its shareholders fail to remedy all such breaches within the time frame set in the agreement, the Company will take all actions available to it under the SPA, NRA and applicable law, against them.

Pre-Market Stocks Briefing: ArcelorMittal SA (ADR)(NYSE:MT), Twitter Inc(NYSE:TWTR)

ArcelorMittal SA (ADR)(NYSE:MT) stock dropped -1.76% in today’s pre market session with the price of $5.03. Over the last one month and over the past three months ArcelorMittal shares gained 8.25% and 20.75%, respectively. Furthermore, the stock has gained 21.33% since the start of this year. The company’s shares are trading 0.15% above their 50-day moving average. Additionally, ArcelorMittal, Inc has an RSI of 50.11 and beta of 2.72.

May 6, 2016 ArcelorMittal Europe has announced its results for the first quarter of 2016, reporting a 34% drop in Ebitda to €328m compared with Q4 2015, mainly due to a 7.2% decline in average steel selling prices for the first three months of 2016. Lower prices were however offset in part by higher steel shipment volumes and improved cost performance.

ArcelorMittal Europe reported an operating profit of €77m for the first three months of the year, compared with a €465m operating loss in the previous quarter. The fourth quarter 2015 performance was significantly impacted by impairments and inventory write-downs.  Comparing year-on-year, ArcelorMittal Europe reported an operating profit of €281m for the first quarter of 2015.

The Europe segment`s crude steel production for Q1 2016 rose 11.9% to 11.2 million tonnes, compared with the previous three months. Sales also rose, by 0.6% to €6.5bn, driven by a 13.7% increase in demand for flat steel products and an overall 10.3% increase in steel shipments, compared with Q4 2015.

While steel spreads have improved since the start of 2016, price rises are not expected to be visible until the second quarter.

Commenting, Aditya Mittal, CEO ArcelorMittal Europe and CFO ArcelorMittal, said:

“Today we reported a 34% drop in Ebitda, which shows the impact of low steel prices on our business – although we were able to offset some of the effect of low prices thanks to our ongoing focus on cost performance.

Today`s results also reflect improved demand for steel in Europe. Our shipments rose by more than 10% to 10.4 million tonnes in Q1 2016, compared with the final quarter of 2015. This stronger demand has led to a welcome improvement in steel spreads, in recent months – resulting in a tight market, for flat products in particular. However, the market remains highly volatile; we must remain vigilant against steel dumping in Europe, in order to ensure that steel is traded in line with WTO regulations.”

Twitter Inc(NYSE:TWTR) stock on Friday’s pre market session gained 2.41% at price of $14.90. Over the last one month and the previous three months, Twitter Inc’s shares gained 3.34% and ticked down -15.01%, respectively. Additionally, the stock has lost -37.12% since the beginning of 2016. The company’s shares are trading below their 50-day and 200-day moving averages by -5.93% and -31.11%, respectively.

Twitter, Inc. announced May 16, 2016 that the Board of Directors has appointed Debra L. Lee, Chairman and Chief Executive Officer of BET Networks, to serve as a Board member, effective immediately. Ms. Lee will also serve as a member of the Nominating and Corporate Governance Committee and, effective following Twitter’s 2016 Annual Meeting of Stockholders, as chairperson of the committee.

“Twitter has been and continues to be a transformative service for the media landscape and the world,” said Ms. Lee. “I’m excited to help Jack, Omid, and the rest of the Board continue and further that impact in the years to come.”

“Debra’s addition strengthens our Board immensely,” said Omid Kordestani, Twitter’s Executive Chairman. “She’s a highly respected leader in the media industry with decades of experience, and has a clear passion for Twitter as a service and a company.”

Ms. Lee is Chairman and Chief Executive Officer of BET Networks, a media and entertainment subsidiary of Viacom, Inc., and the leading provider of entertainment for the African-American audience and consumers of Black culture globally. She joined BET in 1986 and served in a number of executive positions before becoming Chairman and Chief Executive Officer in January 2006, including President and Chief Executive Officer from June 2005 to January 2006, President and Chief Operating Officer from 1995 to 2005 and also served as Executive Vice President and General Counsel, and Vice President and General Counsel.

Ms. Lee serves on the board of Marriott International, Inc. and WGL Holdings, Inc., an energy company. She also serves on the board of a number of professional and civic organizations, including as Immediate Past Chair of the Advertising Council, as the President of the Alvin Ailey Dance Theater, and as a Trustee Emeritus at Brown University. Ms. Lee holds a B.A. from Brown University, a J.D. from Harvard Law School, and an M.P.P. from Kennedy School of Government at Harvard University.

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.”

Noticeable Runners in Pre-Market: Baidu Inc (ADR)(NASDAQ:BIDU), Willbros Group Inc(NYSE:WG)

Baidu Inc (ADR)(NASDAQ:BIDU) stock dropped -5.31% in today’s pre market session with the price of $154.87. Over the last one month and over the past three months, Baidu, Inc’s shares gained 1.41% and lost -10.15%, respectively. Furthermore, the stock has plummeted -13.48% since the start of this year. The company’s shares are trading -8.78% above their 50-day moving average. Additionally, Baidu, Inc has an RSI of 34.22 and beta of 2.21.

Baidu, Inc. the leading Chinese language Internet search provider, June 13, 2016 announced revised revenue guidance for the second quarter of 2016 and provided an update on recent business developments.

Baidu currently expects estimated second quarter 2016 revenue to be in the range of RMB18.100 billion ($2.807 billion) to RMB18.200 billion ($2.823 billion)[1], compared to the previously stated range of RMB20.110 billion ($3.119 billion) to RMB20.580 billion ($3.192 billion).

Since the beginning of May 2016, Baidu has taken steps to implement measures requested by regulatory authorities, such as modifying paid search practices. Baidu has also proactively implemented numerous additional measures to deliver a better user experience and build a safer and more trustworthy platform for users, including turning down customers who do not meet Baidu’s new requirements, creating an industry-leading customer credibility ranking system and weighing customer credibility more highly in the ranking algorithm, reducing the number of sponsored links, and making upgrades to Baidu’s user feedback system and user protection programs, to name but a few. These measures enhance user experience and the Company observed solid user traffic.

The revenue guidance revision was mainly attributable to the following factors:

First, regulatory authorities continue to review the online marketing practices of medical, pharmaceutical, healthcare and other similar businesses, and have also implemented stricter advertising regulations for medical organizations. The review is being rolled out with varied timing with different levels of implementation and interpretation across geographies. While the review is underway, the Company has observed a reduction or delay in spend from a significant portion of medical customers. These customers may be in the process of receiving instruction from regulatory authorities, gathering and submitting required documentation and adjusting their practices to comply with new regulations.

“Baidu provides a strong, unique value proposition to its users and customers by helping users find whatever it is they are looking for, and connecting online marketers with those users. This role comes with great social responsibility and user experience is our top priority,” said Robin Li, Baidu’s chairman and chief executive officer. “Although a significant portion of our revenue is sacrificed, the steps we have taken to further bolster a healthy, safe and trustworthy online and offline ecosystem will result in long term benefit and reward for Baidu.”

Willbros Group Inc(NYSE:WG) stock on Friday’s pre market session gained 1.09% at price of $2.78. Over the last one month and the previous three months, Willbros Group Inc’s shares lost -5.17% and gained 24.43%, respectively. Additionally, the stock has surged 2.23% since the beginning of 2016. The company’s shares are trading above their 50-day and 200-day moving averages by -9.81% and 24.79%, respectively.

Willbros Group, Inc. (WG) May 25, 2016 announced that the Company will be attending the 2016 Credit Suisse Engineering & Construction Conference to be held in New York City on June 2, 2016.

Michael Fournier, Willbros President and Chief Executive Officer, is scheduled to present on Thursday, June 2nd at 3:00 p.m. Eastern Time (2:00 p.m. Central Time).  A live broadcast of the presentation and the accompanying slides will be available in the Investor Relations section of the Company’s website at www.willbros.com.

Willbros is a specialty energy infrastructure contractor serving the oil and gas and power industries with offerings that primarily include construction, maintenance and facilities development services. For more information on Willbros, please visit our web site at www.willbros.com.

CONTACT:

Stephen W. Breitigam

VP Investor Relations

Willbros

713-403-8172

Pre-Market Investor’s Alert: ArcelorMittal SA (ADR)(NYSE:MT), Agios Pharmaceuticals Inc(NASDAQ:AGIO)

ArcelorMittal SA (ADR)(NYSE:MT) stock dropped -5.10% in today’s pre market session with the price of $5.02. Over the last one month and over the past three months, ArcelorMittal shares gained 7.30% and 0.76%, respectively. Furthermore, the stock has gained 25.36% since the start of this year. The company’s shares are trading 3.77% above their 50-day moving average. Additionally, ArcelorMittal has an RSI of 55.40 and beta of 2.72.

May 19, 2016, ArcelorMittal announced the launch of its tender offer to purchase for cash any and all of its outstanding 9.850% Notes due June 1, 2019 (CUSIP 03938LAM6/ ISIN US03938LAM63) (the “Notes”) on the terms and subject to the conditions set out in the offer to purchase dated May 11, 2016 (the “Offer to Purchase”) and the Notice of Guaranteed Delivery. The Offer expired at 5:00 p.m., New York City time, on May 18, 2016 (the “Expiration Time”).

Agios Pharmaceuticals Inc(NASDAQ:AGIO) stock on Friday’s pre market session gained 9.23% at price of $54.99. Over the last one month and the previous three months, Agios Pharmaceuticals Inc’s shares gained 11.76% and 26.16%, respectively. Additionally, the stock has dropped -22.44% since the beginning of 2016. The company’s shares are trading above their 20-day and 200-day moving averages by -5.47% and -12.54%, respectively.

Agios Pharmaceuticals, Inc. (AGIO) June 9, 2016 announced the initial data from the Phase 1 integrated single ascending dose (SAD) and multiple ascending dose (MAD) clinical trial of AG-519 in healthy volunteers at the 21st Congress of the European Hematology Association (EHA) taking place June 9-12, 2016 in Copenhagen. These data provide early proof-of-mechanism for AG-519, a potent, oral, selective second pyruvate kinase-R (PKR) activator that is wholly owned by Agios. Agios is also developing AG-348, a first-in-class, oral PKR activator that is being evaluated in an ongoing Phase 2 study, DRIVE-PK.

In this Phase 1 study, dosing of AG-519 over 14-days in healthy volunteers resulted in a dose-dependent increase in PKR activity as evidenced by a substantial increase in ATP (adenosine triphosphate) and decrease in 2,3-DPG  (2,3-diphosphoglycerate) levels, which are important biomarkers of PKR activation in healthy volunteers. These data support the hypothesis that AG-519 enhances PKR activity and has the potential to correct the underlying defect of pyruvate kinase (PK) deficiency, a rare, potentially debilitating, congenital anemia.

“Achieving proof-of-mechanism for AG-519, our second PKR activator, further advances Agios’ novel approach to the treatment of rare metabolic disorders,” said Chris Bowden, M.D., chief medical officer of Agios. “These Phase 1 data from AG-519 bring us closer to our goal of delivering the first disease-modifying treatment for patients with PK deficiency.”

Results from the Completed SAD Portion of the Phase 1 Study

Four cohorts with doses of AG-519 ranging from 50 mg to 1250 mg were tested against placebo in 32 healthy volunteers.

AG-519 demonstrated a favorable safety profile in all doses tested. There were no serious adverse events (SAEs) reported, with all adverse events (AEs) being mild to moderate, and the most common being headache. In addition, there were no early discontinuations due to AG-519 and the maximum tolerated dose was not reached.

Mean decreases in blood 2,3-DPG levels up to 43 percent from baseline were observed in the SAD cohorts, reaching minimum levels after 24 hours. As expected, ATP levels did not change after a single dose of AG-519, consistent with SAD findings from AG-348.  Healthy volunteers receiving placebo showed no changes in 2,3-DPG or ATP levels.

Pre-Market Stocks Roundup: Tesla Motors Inc(NASDAQ:TSLA), Alphabet Inc(NASDAQ:GOOG)

Alphabet Inc(NASDAQ:GOOG) stock dropped -0.61% in today’s pre market session with the price of $715.01. Over the last one month and over the past three months, Alphabet, Inc’s shares gained 0.58% and dropped -1.02%, respectively. Furthermore, the stock has plummeted -5.20% since the start of this year. The company’s shares are trading -0.77% above their 50-day moving average. Additionally, Alphabet, Inc has an RSI of 46.96.

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.

Tesla Motors Inc(NASDAQ:TSLA) stock on Friday’s pre market session gained 0.15% at price of $219.11. Over the last one month and the previous three months, Tesla Motors Inc’s shares gained 4.70% and 5.44%, respectively. Additionally, the stock has dropped -8.84% since the beginning of 2016. The company’s shares are trading above their 50-day and 200-day moving averages by -5.89% and -1.20%, respectively.

May 04, 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 Briefing: Yamana Gold Inc. (USA)(NYSE:AUY), Genworth Financial Inc(NYSE:GNW)

Genworth Financial Inc(NYSE:GNW) stock dropped -4.45% in today’s pre market session with the price of $3.22. Over the last one month and over the past three months, Genworth Financial, Inc’s shares lost -11.78% and gained 20.36%, respectively. Furthermore, the stock has plummeted -9.65% since the start of this year. The company’s shares are trading 2.68% above their 50-day moving average. Additionally, Genworth Financial, Inc has an RSI of 44.91 and beta of 2.51.

Genworth Financial, Inc. (GNW) announced the election of all nine directors nominated at its 2016 annual meeting of stockholders June 12, 2016.  The board members re-elected were William H. Bolinder, G. Kent Conrad, Melina E. Higgins, Thomas J. McInerney, David M. Moffett, Thomas E. Moloney, James A. Parke, and James S. Riepe, while John R. Nichols was elected today as a new independent director.  Nichols, 54, served as Executive Vice President and Chief Risk Officer of the Federal National Mortgage Association from August 2011 until August 2015.

“Genworth would like to recognize two directors who are leaving our Board of Directors – Nancy Karch and Chris Mead,” said James S. Riepe, Genworth non-executive chairman of the board.  “Ms. Karch joined the board in 2005, while Ms. Mead joined our board in 2009.  Their continued and unyielding commitment to Genworth have been invaluable, and we are grateful for all of their efforts on behalf of our Company.”

At the annual meeting, stockholders also approved the advisory vote on named executive officer compensation and ratified the selection of KPMG LLP as Genworth’s independent registered public accounting firm for 2016.

Yamana Gold Inc. (USA)(NYSE:AUY) stock on Friday’s pre market session gained 4.61% at price of $5.22. Over the last one month and the previous three months, Yamana Gold Inc’s shares gained 3.96% and 60.73%, respectively. Additionally, the stock has surged 168.74% since the beginning of 2016. The company’s shares are trading above their 50-day and 200-day moving averages by 15.67% and 85.78%, respectively.

YAMANA GOLD INC. (AUY) May 06, 2016 announced the results of the votes held earlier today at the annual meeting of shareholders for the election of directors, the appointment of auditors and the advisory resolution on executive compensation.

Voting results for the advisory resolution on executive compensation as described in the Company’s 2016 Information Circular are as follows:

Yamana is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties, and land positions throughout the Americas including Brazil, Argentina, Chile, Mexico and Canada. Yamana plans to continue to build on this base through existing operating mine expansions, throughput increases, development of new mines, the advancement of its exploration properties and, at times, by targeting other gold consolidation opportunities with a primary focus in the Americas.

Pre-Market Stocks Briefing: Continental Resources, Inc. (NYSE:CLR), McEwen Mining Inc. (NYSE:MUX)

Continental Resources, Inc. (NYSE:CLR) stock dropped -3.19% in today’s pre market session with the price of $39.15. Over the last one month and over the past three months, Continental Resources, Inc’s shares gained 1.59% and 49.12%, respectively. Furthermore, the stock has gained 77.55% since the start of this year. The company’s shares are trading 7.57% above their 50-day moving average. Additionally, Continental Resources, Inc has an RSI of 51.25 and beta of 1.79.

Continental Resources, Inc. May 17, 2016 announced the completion of an industry record well in the over-pressured oil window of Oklahoma’s STACK play. The Verona 1-23-14XH flowed at an initial 24-hour test rate of 3,339 barrels of oil equivalent per day, comprised of 2,345 barrels of oil, or 70% of production, and 6.0 million cubic feet of 1,370-Btu natural gas (British thermal units). The Verona is producing from the Meramec reservoir through a 9,700-foot lateral at a flowing casing pressure of approximately 2,400 psi, on a 34/64-inch choke.

“The Verona is another example of the exceptional results we are getting from wells drilled in the over-pressured oil window of STACK,” said Harold Hamm, Chairman and Chief Executive Officer. “We couldn’t be more pleased with the performance of our wells in STACK and the addition of this outstanding asset to our portfolio. Our STACK team also completed the Verona at a cost of approximately $9.0 million, which is $500,000 less than our year-end 2016 target cost for two-mile lateral wells in the over-pressured oil window. This is the Company’s lowest cost completion in STACK to date.”

The Verona is the Company’s ninth well completed in the over-pressured oil window of STACK, and all have been strong producers. The Company is in the process of completing four additional Meramec wells. Continental currently has 11 operated rigs drilling in STACK, with six targeting the Meramec zone and five targeting the Woodford zone.

Located in Blaine County, Oklahoma, the Verona is immediately east of the Company’s Ludwig unit, where Continental is currently drilling an eight-well density pilot, its first in the STACK play.  The density pilot consists of seven new wells in the Upper and Middle Meramec reservoirs, as well as an additional well in the Woodford reservoir underlying the Meramec.  Results from the Ludwig density pilot are expected to be announced by the Company’s third quarter 2016 earnings release.

As announced earlier in the month, at March 31, 2016 Continental had approximately 171,000 net acres of leasehold in the STACK play, 95% of which is in the over-pressured window.

McEwen Mining Inc. (NYSE:MUX) stock on Friday’s pre market session gained 6.17% at price of $3.15. Over the last one month and the previous three months, McEwen Mining Inc’s shares gained 13.19% and 53.65%, respectively. Additionally, the stock has surged 179.44% since the beginning of 2016. The company’s shares are trading above their 50-day and 200-day moving averages by 23.48% and 100.55%, respectively.

June 03, 2016McEwen Mining Inc. and McEwen Mining – Minera Andes Acquisition Corp. have announced the results of their annual general and special meetings held on May 31, 2016. McEwen Mining reports that Robert McEwen, Allen Ambrose, Michele Ashby, Leanne Baker, Richard Brissenden, Gregory Fauquier, Donald Quick and Michael Stein were elected as directors. The shareholders of McEwen Mining also approved on an advisory basis the compensation of the named executive officers as described in the proxy statement (“Say-On-Pay”), approved on an advisory basis to have the say on pay vote every three years, and ratified the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2016. ExchangeCo reports that Colin Sutherland was elected as director. In addition, the holders of ExchangeCo voted in favor of amending the definition of “Redemption Date” for the amended Articles of Incorporation dated September 22, 2011.

McEwen Mining’s goal is to qualify for inclusion in the S&P 500 Index by creating a high growth, profitable gold and silver producer focused in the Americas and Europe. McEwen Mining’s principal assets consist of the San José Mine in Santa Cruz, Argentina (49% interest), the El Gallo Mine and El Gallo Silver project in Sinaloa, Mexico, the Gold Bar project in Nevada, USA, and the Los Azules copper project in San Juan, Argentina.

Active Stocks in Pre-Market:Tesco Corp. (NASDAQ:TESO), Ambarella (NASDAQ:AMBA)

Tesco Corporation (USA) (NASDAQ:TESO) stock dropped -6.84% in today’s pre market session with the price of $7.36. Over the last one month and over the past three months, Tesco Corporation shares gained 0.61% and 8.99%, respectively. Furthermore, the stock has gained 10.94% since the start of this year. The company’s shares are trading 1.85% above their 50-day moving average. Additionally, Tesco Corporation has an RSI of 52.35 and beta of 1.06.

Tesco Corporation June 8, 2016 announced that it has priced its underwritten public offering of 7,000,000 common shares of the Company at a price to the public of $7.00 per share. The Company has granted the underwriter a 30-day option to purchase up to an additional 1,050,000 common shares at the offering price (less the underwriting discounts).  The Company expects to close the sale of the common shares on June 14, 2016, subject to customary closing conditions.

The Company intends to use the net proceeds of the offering for general corporate purposes, which could include working capital, capital expenditures, acquisitions or other initiatives.

BofA Merrill Lynch is acting as the sole book-running manager for the offering.

The Company has filed a registration statement including a prospectus and a prospectus supplement with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus and prospectus supplement in that registration statement and other documents the issuer has filed with the SEC for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the prospectus supplement if you request from BofA Merrill Lynch, Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC  28255-0001, email dg.prospectus_requests@baml.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Ambarella Inc(NASDAQ:AMBA) stock on Friday’s pre market session gained 0.60% at price of $52.50. Over the last one month and the previous three months, Ambarella Inc’s shares gained 35.76% and 31.86%, respectively. Additionally, the stock has dropped -6.82% since the beginning of 2016. The company’s shares are trading above their 50-day and 200-day moving averages by 24.46% and 2.28%, respectively.

Ambarella, Inc. (AMBA), a leading developer of low-power, HD and Ultra HD video compression and image processing semiconductors, June 2, 2016 announced financial results for its first quarter of fiscal year 2017 ended April 30, 2016.

Revenue for the first quarter of fiscal 2017 was $57.2 million, down 19.5% from $71.0 million in the same period in fiscal 2016.

Gross margin under U.S. generally accepted accounting principles (GAAP) for the first quarter of fiscal 2017 was 64.2%, compared with 64.7% for the same period in fiscal 2016.

GAAP net income for the first quarter of fiscal 2017 was $1.8 million, or $0.05 per diluted ordinary share, compared with GAAP net income of $18.9 million, or $0.56 per diluted ordinary share, for the same period in fiscal 2016.

Financial results on a non-GAAP basis for the first quarter of fiscal 2017 are as follows:

Gross margin on a non-GAAP basis for the first quarter of fiscal 2017 was 64.6%, compared with 64.8% for the same period in fiscal 2016.

Non-GAAP net income for the first quarter of fiscal 2017 was $11.4 million, or $0.34 per diluted ordinary share. This compares with non-GAAP net income of $23.7 million, or $0.71 per diluted ordinary share, for the same period in fiscal 2016.

Ambarella reports gross margin, net income and earnings per share in accordance with GAAP and, additionally, on a non-GAAP basis. Non-GAAP financial information for the first fiscal quarter excludes the impact of stock-based compensation adjusted for the associated tax impact which includes the effect of any benefits or shortfalls recognized. A reconciliation of the GAAP to non-GAAP gross margin, net income and earnings per share numbers for the periods presented, as well as a description of the items excluded from the non-GAAP calculations, is included in the financial statements portion of this press release.

Total cash, cash equivalents and marketable securities on hand at the end of the first fiscal quarter of 2017 was $323.8 million, compared with $235.2 million at the end of the same quarter a year ago.

Pre-Market Investor’s Watch List: Chesapeake Energy Corp. (NYSE:CHK), SolarCity Corp. (NASDAQ:SCTY)

Chesapeake Energy Corporation (NYSE:CHK) stock dropped -3.92% in today’s pre market session with the price of $4.78. Over the last one month and over the past three months, Chesapeake Energy shares gained 21.22% and 7.34%, respectively. Furthermore, the stock has plummeted -2.53% since the start of this year. The company’s shares are trading 2.03% above their 50-day moving average. Additionally, Chesapeake Energy has an RSI of 60.18 and beta of 1.69.

Chesapeake Energy Corporation (CHK) May 5, 2015 reported financial and operational results for the 2016 first quarter. Highlights include:

Signed agreement to sell approximately 42,000 net acres prospective for the STACK play in Oklahoma for approximately $470 million; includes current production of 3,800 boe per day

2016 first quarter production averaged approximately 672,400 boe per day, an increase of 1% year over year, adjusted for asset sales

Improved 2016 first quarter cost performance leads to lower full-year 2016 production expense and GP&T expense guidance

Financial strategy remains focused on maximizing liquidity and liability management; company reiterates target of $1.2 to $1.7 billion total gross proceeds from asset divestitures by year-end

Doug Lawler, Chesapeake’s Chief Executive Officer, commented, “Chesapeake is delivering on all four of the focus points for 2016 that we stated in February: maximizing liquidity, optimizing our portfolio, increasing cash flow and reducing debt. We are pleased this morning to announce approximately $500 million of incremental asset sales above the $700 million we announced in late February. The STACK acreage sale we are announcing today accelerates value from a portion of our undeveloped acreage that currently generates very little cash flow, giving us the ability to enhance current liquidity. This transaction contributes substantially to achieving our previously announced target of an incremental $500 million to $1 billion of asset sales by year-end. We anticipate subsequent divestitures during the second and third quarters.

“Our cash costs continue to decline, and we remain sharply focused on improving our margins through continued progress with our midstream and downstream partners. As a result, we have recognized incremental improvements in both our production expense and our total gathering, processing and transportation expenses and revised our 2016 guidance accordingly. Additionally, since January 1, 2016, we have reduced debt that matures or can be put to us in 2017 by approximately $282 million. Our recently amended revolving credit facility agreement gives us sufficient liquidity and capacity to pursue additional reductions of our near-term maturities as opportunities arise.”

2016 First Quarter Results

For the 2016 first quarter, Chesapeake reported a net loss available to common stockholders of $964 million, or $1.44 per fully diluted share. The primary driver of the net loss was a noncash impairment of the carrying value of Chesapeake’s oil and natural gas properties of approximately $853 million, largely resulting from decreases in the trailing 12-month average first-day-of-the-month oil and natural gas prices as of March 31, 2016, compared to December 31, 2015. Adjusting for items that are typically excluded by securities analysts, including the impairment discussed above, the 2016 first quarter adjusted net loss available to common stockholders was $120 million, or $0.10 per fully diluted share. Reconciliations of financial measures calculated in accordance with generally accepted accounting principles to adjusted measures that are typically calculated by securities analysts are provided on pages 10 – 12 of this release.

Chesapeake’s 2016 first quarter revenues declined by 39% year over year, primarily due to a decrease in the average realized commodity prices received for its production. Revenue declines due to lower commodity prices were partially offset by improvements to the company’s production expenses and general and administrative (G&A) expenses. Average daily production for the 2016 first quarter of approximately 672,400 barrels of oil equivalent (boe) increased 1%, adjusted for asset sales, and consisted of approximately 95,700 barrels (bbls) of oil, 3.036 billion cubic feet (bcf) of natural gas and 70,700 bbls of natural gas liquids (NGL).

SolarCity Corp(NASDAQ:SCTY) stock on Friday’s pre market session gained 3.60% at price of $23.90. Over the last one month and the previous three months, SolarCity Inc’s shares gained 2.49% and ticked down -11.95%, respectively. Additionally, the stock has dropped -54.78% since the beginning of 2016. The company’s shares are trading below their 50-day and 200-day moving averages by -9.25% and -31.30%, respectively.

June 3, 2016, SolarCity (SCTY) has unveiled a new solar loan program—available in 14 states –that will allow many customers to immediately pay less for solar each month than they previously paid for utility bills and pocket thousands in additional dollars from applicable tax credits. The company has leveraged its installation volume—SolarCity installed more residential solar in 2015 than the next 50 competitors combined—to negotiate extremely favorable terms on behalf of its customers.

“We can now offer a loan that makes it possible for many customers to pay less for solar from day one, and still receive thousands back in tax credits on top of that,” said SolarCity CEO Lyndon Rive. “This program will allow thousands of additional customers across the U.S. to install solar this year and start saving money immediately, and we expect to work with multiple lenders that will allow us to expand to several new states by the end of the month with the same great terms for our customers.”

SolarCity’s new loans replace its popular MyPower product—which allowed SolarCity to provide more loans in 2015 than any other solar installer—with new options that include fixed payments and shorter terms.  The new loans offer a range of features:

10-year loan with annual percentage rate as low as 2.99%.

20-year loan with annual percentage rate as low as 4.99%.

Customers can prepay their entire balance or prepay a portion of their loan to lower their monthly payments at any time, with no fees or penalties.

SolarCity’s loans include the industry’s best service package, including a 20-year warranty, production guarantee, and continuous monitoring.

SolarCity provides the industry’s best mounting system and installation aesthetics, and backs up its agreements with the largest in-house service footprint in the industry, with 90 local operations centers.

SolarCity will provide and install a Nest Thermostat at no additional cost for qualifying customers.

SolarCity’s new solar loans are available today in Arizona, California, Colorado, Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New Mexico, New Jersey, New York, Oregon, Rhode Island, Texas and Washington, D.C., and the company expects to announce new locations soon.