On Friday, Shares of Dow Chemical Co (NYSE:DOW), lost -2.03% to $51.17.
The Dow Chemical Company, declared that it has received a favorable private letter ruling from the U.S. Internal Revenue Service with respect to the projected transaction involving a noteworthy portion of Dow’s chlorine value chain and Olin Corporation.
“This milestone underscores our ability to achieve tax efficiency for this landmark transaction that will enhance value for both Dow and Olin shareholders and advance Dow’s portfolio transformation,” said Andrew N. Liveris, Dow’s chairman and chief executive officer. “We are happy to see this plannedally noteworthy transaction moving forward on plan.”
The Dow Chemical Company manufactures and supplies products that are used primarily as raw materials in the manufacture of customer products and services worldwide. It operates through Agricultural Sciences, Consumer Solutions, Infrastructure Solutions, Performance Materials & Chemicals, and Performance Plastics segments.
Shares of Delcath Systems, Inc. (NASDAQ:DCTH), declined -8.89% to $0.5370, during its last trading session.
Delcath Systems, declared that it priced an offering of 9,350,000 units, each unit comprising of one share of its common stock, 0.75 of one Series A Warrant to purchase one share of its common stock, and one Series B Warrant to purchase one share of its common stock and 0.75 of one Series A Warrant at a price of $0.75 per unit in a registered underwritten public offering for gross proceeds of $7.0 million. The Series A Warrants are exercisable at an exercise price of $0.87 and will expire, unless exercised, on the fifth anniversary of the date of issuance. The Series B Warrants are exercisable at an exercise price of $0.75 and will expire, unless exercised, 90 trading days after the date of issuance. All of the securities described above in the offering are to be sold by Delcath. Net proceeds to Delcath from this offering are predictable to be about $6.2 million, after deducting underwriting discounts and commissions, and other estimated offering expenses payable by Delcath. The offering is predictable to close on or about July 21, 2015, subject to the satisfaction of customary closing conditions.
Delcath Systems, Inc. operates as a specialty pharmaceutical and medical device company focusing on cancers of the liver. The company is developing its proprietary product-Melphalan Hydrochloride for injection for use with the Delcath Hepatic Delivery System; and markets melphalan hydrochloride as a device under the trade name Delcath Hepatic CHEMOSAT Delivery System for Melphalan in Europe.
Finally, Telefonica S.A. (ADR) (NYSE:TEF), ended its last trade with -0.33% loss, and closed at $15.00.
Telefónica, presented the results from the first quarter of 2015, a period in which the company totaled a net profit of 1,802 million euros, increasing by 2.6 times vs. the same period of the previous year. In addition, the figures for January-March 2015 show tangible progress in most items of the profit and loss account, which is a reflection of the focus on long-term sustainable growth and a result of the intense transformation executed in recent years. At the end of March, total accesses had grown in stated terms by 10% year-on-year, amounting to over 319 million customers, revenue raised by 12.6% to 11,543 million euros, OIBDA raised by 7.7%, reaching the sum of 3,618 million euros, and finally, cash flow stood at 363 million euros after growing by 25.8%.
In the earnings report published recently, Telefónica’s Executive Chairman, César Alierta, stressed that the results of the first quarter “reflect a solid starting of this new cycle and are leveraged on the improved organic evolution of the business.” Alierta emphasised that this is a generalized growth and indicated that “Spain has already begun its return to growth after reporting in the quarter a year-on-year enhance in accesses, which will gradually translate into growth in financials”.
Telefónica, S.A. provides fixed and mobile communication services primarily in Europe and Latin America. The company offers mobile voice, value added, mobile data and Internet, wholesale, corporate, roaming, fixed wireless, and trunking and paging services.
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