On Friday, Shares of PDL BioPharma Inc (NASDAQ:PDLI), lost -2.29 % to $6.41.
PDL BioPharma, declared that it has reached a credit agreement with CareView Communications, Inc. (CRVW) whereby PDL will provide CareView with up to $40 million of secured debt financing. CareView is an information technology provider to the healthcare industry focused on patient care monitoring.
Under the credit agreement, PDL will provide CareView with up to $40 million of debt financing in two tranches of $20 million, based upon the achievement of specified milestones. Each tranche has a five year maturity. PDL will receive interest on the principal amount outstanding and has a security interest in substantially all of CareView’s assets. As part of the transaction, PDL received a warrant to purchase about 4.4 million shares of common stock of CareView at an exercise price of $0.45 per share.
PDL BioPharma, Inc. manages a portfolio of patents and royalty assets in the United States and Europe. The company is involved in the humanization of monoclonal antibodies and the discovery of a new generation of targeted treatments for cancer and immunologic diseases.
Shares of Oil States International, Inc. (NYSE:OIS), declined -3.01% to $31.90, during its last trading session.
Oil States International, declared that it has planned its second quarter 2015 earnings conference call for Wednesday, July 29, 2015 at 12:30 pm Eastern time. During the call, Oil States will talk about the results for the quarter ended June 30, 2015, which are predictable to be released on July 28, 2015, after markets close.
Oil States International, Inc., through its auxiliaries, provides specialty products and services to oil and natural gas companies worldwide. It operates through two segments, Offshore Products and Well Site Services.
Finally, W W Grainger Inc (NYSE:GWW), ended its last trade with 0.43% gain, and closed at $233.36.
Grainger, stated results for the 2015 second quarter ended June 30, 2015. Sales of $2.5 billion raised 1 percent as compared to $2.5 billion in the 2014 second quarter. There were 64 selling days in the quarter, the same as in 2014. Net earnings for the quarter raised 7 percent to $221 million as compared to $206 million in 2014. Earnings per share of $3.25 raised 11 percent as compared to $2.94 in 2014.
“While this continues to be a difficult economic environment, we are focusing on the things we can control,” said Chairman, President and Chief Executive Officer Jim Ryan. “Despite continued softness in sales and gross profit margins from a tough industrial economy, we continue to invest for the long term while driving noteworthyproductivity to fund growth and infrastructure investments and reduce overall margin pressure. We have also leveraged our strong balance sheet with a recent $1 billion bond placement and lowered our tax rate through improved tax planning strategies. We expect the current economic conditions to continue through the end of the year and as a result we are updating our guidance,” Ryan concluded. The company now anticipates 0 to 2 percent sales growth and earnings per share of $12.00 to $12.50 for the full year 2015. The company’s previous 2015 guidance, issued on April 16, 2015, comprised of 1 to 4 percent sales growth and earnings per share of $12.25 to $12.95.
W.W. Grainger, Inc. operates as a distributor of maintenance, repair, and operating (MRO) supplies; and other related products and services that are used by businesses and institutions primarily in the United States and Canada.
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