On Monday, in the course of current trade, Shares of SandRidge Energy Inc (NYSE:SD), climbed 9.01%, and is now trading at $0.541.
SandRidge Energy, declared that it has fallen below the New York Stock Exchange (“NYSE”) continued listing requirement that the average closing price of a listed company’s common stock be above $1.00 per share, calculated over a period of 30 successive trading days. The Company received notice from the NYSE on July 23, 2015 regarding the deficiency.
Under the NYSE standards, the Company can avoid delisting if, during the six-month period following receipt of the NYSE notice, on the last trading-day of any calendar month, the Company’s common stock has a closing price per share and a 30 trading-day average closing share price of at least $1.00. The Company intends to consider accessible alternatives, potentially counting a reverse stock split, in order to cure the stock price deficiency and return to compliance with the NYSE continued listing requirement. Under the NYSE’s rules, if the Company determines that it will cure the stock price deficiency by taking an action that will require approval by its shareholders at the next annual meeting of shareholders, such as a reverse stock split, the six month period described above will extend to shortly after such annual meeting.
SandRidge Energy, Inc., an oil and natural gas company, explores for and produces oil and natural gas properties primarily in the Mid-Continent region of the United States. The company operates through three segments: Exploration and Production, Drilling and Oil Field Services, and Midstream Services.
During an Afternoon trade, Shares of Newpark Resources Inc (NYSE:NR), climbed 3.99%, and is now trading at $7.29.
Newpark Resources, declared results for its second quarter ended June 30, 2015. Total revenues for the second quarter of 2015 were $163.6 million contrast to $208.5 million in the first quarter and $272.5 million in the second quarter of 2014. Net loss for the second quarter of 2015 was $4.3 million, or $0.05 per share, contrast to net income of $1.0 million, or $0.01 per diluted share, in the first quarter, and $20.3 million, or $0.21 per diluted share, in the second quarter of 2014.
Second quarter 2015 results comprised of a $1.7 million ($0.02 per share) charge to provision for income taxes to impair formerly-recorded deferred tax assets in Australia.
Newpark Resources, Inc. provides various products and services primarily to the oil and gas exploration industry. The company operates in two segments, Fluids Systems, and Mats and Integrated Services.
Finally, Supernus Pharmaceuticals Inc (NASDAQ:SUPN), gained 1.87% Monday.
Supernus Pharmaceuticals, stated financial results for the second quarter of 2015 and associated company developments.
Commercial Update
Second quarter 2015 product prescriptions for Trokendi XR(R) and Oxtellar XR(R) grew by 12,561, or 16%, over the first quarter of 2015, an acceleration in growth as contrast to 8,024, or 11%, between the first quarter of 2015 and the fourth quarter of 2014. Second quarter 2015 product prescriptions grew by 99% as compared to second quarter 2014.
“Strong growth in product prescriptions in the quarter reflects the solid underlying fundamentals of our epilepsy portfolio and an acceleration of sequential quarterly prescription growth contrast to the previous quarter,” said Jack Khattar, President and CEO of Supernus Pharmaceuticals.
Supernus Pharmaceuticals, Inc., a specialty pharmaceutical company, focuses on the development and commercialization of products for the treatment of central nervous system diseases in the United States.
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