Timeline: The rise and fall of Yahoo Marissa Mayer will step down from Yahoo’s board of directors if its sale to Verizon goes through, according to a company filing on Monday.
The Yahoo CEO’s pending resignation from the board is part of a broader restructuring. After completing the $4.8 billion sale of its core Internet assets to Verizon (VZ, Tech30), what remains of Yahoo (YHOO, Tech30) will effectively be converted into an investment company for its Alibaba (BABA, Tech30) holdings.
Fittingly, that company will be renamed Altaba, according to the filing with the Securities and Exchange Commission.
Yahoo, wait sorry, we mean Altaba (this takes some getting used to), will then shrink its board to five directors. Yahoo cofounder David Filo and chairman Maynard Webb also intend to step down from the board.
good stocks: Arena Pharmaceuticals, Inc.(ARNA)
Advisors’ Opinion:
- [By Lisa Levin]
Shares of Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) were down around 18 percent to $1.22. Arena Pharmaceuticals priced its 60 million share offering at $1.15 per share.
- [By Keith Speights]
Eisai partnered with Arena Pharmaceuticals (NASDAQ:ARNA) several years ago on obesity drug Belviq. The drug won U.S. regulatory approval in 2012, but sales have been underwhelming. As a result, Arena sold Belviq to Eisai earlier this year.
- [By Paul Ausick]
Arena Pharmaceuticals Inc. (NASDAQ: ARNA) posted a new 52-week low of $1.20 on Tuesday, down about 19% compared with Monday’s closing price of $1.48. The stock’s 52-week high is $2.16. Volume was about 10% below the daily average of around 3.8 million shares. The company priced a secondary offering of 60 million shares at $1.15 per share, a path guaranteed to enrage existing investors.
- [By Lisa Levin]
In trading on Friday, healthcare shares fell by 0.09 percent. Meanwhile, top losers in the sector included Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), down 6 percent, and Omeros Corporation (NASDAQ: OMER), down 5 percent.
- [By Peter Graham]
The Q4 2016 earnings report for small cap obesity drug stock Arena Pharmaceuticals, Inc (NASDAQ: ARNA) is scheduled for after the market closes onTuesday (March 14th). Last June,Arena Pharmaceuticals announced a strategic shifting of priorities to emphasize its proprietary clinical stage pipeline and the implementation of additional cost reductions to streamline the organization to support its development programs. Among the actions to be taken is the layoff of 73% of the companys workforce which will cost approximately $6.1 million.
good stocks: Brady Corporation(BRC)
Advisors’ Opinion:
- [By Mike Deane]
For the 28th year in a row, Brady Corp (BRC) has increased its dividend payout to investors.
The Milwaukee, WI-based company increased its quarterly dividend to 19.5 cents from 19 cents, an increase of 2.6%. The annual dividend now stands at 78 cents. The quarterly dividend will be paid on October 31st, 2013 to all shareholders of record on October 10, 2013.
BRC shares were down 40 cents, or 1.23%, by market close on Wednesday. YTD, the company’s stock is down over 4%.
- [By Shauna O’Brien]
Robert Baird announced on Friday that it has cut its rating on Brady Corp (BRC).
The firm has downgraded BRC from “Outperform” to “Neutral,” and has given the company a $33 price target. This price target suggests a 8% upside from the stock’s current price of $30.52.
Analysts see the company’s WPS segment growing faster than expected.
Brady shares were mostly flat during pre-market trading Friday. The stock is down 9% YTD.
- [By Michael Flannelly]
Before the opening bell on Thursday, identification solutions provider Brady Corp (BRC) posted a loss in the fourth quarter, despite a rise in revenues, as it was negatively impacted by a number of charges. However, excluding these charges, the company was able to top Wall Street analysts’ earnings and sales estimates. Nonetheless, BRC shares are plummeting in Thursday’s trading.
The Milwaukee, Wisconsin-based company posted a loss from continuing operations of $176.2 million, or $3.41 per share, in the fourth quarter, versus last year’s fourth quarter earnings from continuing operations of $20.9 million, or 40 cents per share. Furthermore, Brady posted a net loss of $177.2 million, or $3.43 per share, compared to net earnings of $11.6 million, or 22 cents per share, in the same period a year ago.
The fourth quarter loss includes non-cash impairment charges of $204.4 million, $15.6 million in restructuring charges, and $4 million in acquisition-related charges. Excluding these charges, Brady Corp said earnings would have been 53 cents per share in the quarter. According to analysts polled by Thomson Reuters, the company was expected to earn an adjusted 51 cents per share in the fourth quarter.
The company’s fourth quarter sales came in at $309.1 million, up 15% from $269.1 million in sales posted last year. On average, analysts were expecting the company to see $307.13 million in revenues for the quarter.
Looking ahead, Brady Corp. sees fiscal 2014 earnings coming in between $1.80 and $2.00 per share, below the analysts’ view of $2.30 per share.
Brady Corp shares were down $1.71, or 5.25%, during early morning trading on Thursday. The stock is up 7.93% year-to-date.
good stocks: Nielsen N.V.(NLSN)
Advisors’ Opinion:
- [By Paul Ausick]
Nielsen Holdings plc (NYSE: NLSN) lost nearly 2.7% Friday to post a new 52-week low of $42.25 after closing Thursday at $43.41. The 52-week high is $55.94. Volume of around 6.7 million was nearly 3 times the daily average of around 2.6 million shares traded. The data research and information company had no specific news Friday.
- [By Paul Ausick]
Nielsen Holdings plc (NYSE: NLSN) dropped about 1.5% Thursday to post a new 52-week low of $40.97 after closing Wednesday at $41.59. The 52-week high is $55.94. Volume of around 5.2 million was about 70% above the daily average of around 3.2 million shares traded. The company had no specific news Thursday.
good stocks: Nektar Therapeutics(NKTR)
Advisors’ Opinion:
- [By Sean Williams]
Shares of Nektar Therapeutics (NASDAQ:NKTR), a biopharmaceutical company that utilizes its proprietary intellectual property via licensing deals and through collaborations in the clinical development process to help fight cancer, autoimmune diseases, and chronic pain, surged as much as 20% on Thursday after the company reported its fourth-quarter and full-year results after the closing bell on Wednesday.
- [By Lisa Levin]
Shares of Nektar Therapeutics (NASDAQ: NKTR) got a boost, shooting up 38 percent to $21.33 after the company reported that it has met its primary and secondary endpoints in Phase 3 Summit-07 study for chronic pain.
- [By Ben Levisohn]
Nektar Therapeutics (NKTR) has soared 21% to $18.80 after positive results from a pain-killer trial.
Tiffany (TIF) has gained 1.6% to $93.90 after getting upgraded to Outperform from Market Perform at William Blair.
- [By Todd Campbell]
Nektar Therapeutics (NASDAQ:NKTR) is an intriguing commercial-stage biotech company that’s just reported positive late-stage trial results for its pain-busting drug NKTR-181. However, shares have jumped on the news, and the company’s market cap has swollen to more than $3 billion. Is there more running room left for its investors?
