On Wednesday, Following Stocks were among the “Top 50 Losers” of U.S. Stock Market: eBay Inc (NASDAQ:EBAY), Willbros Group Inc (NYSE:WG), Acorn Energy Inc (NASDAQ:ACFN), 500.com Ltd (NYSE:WBAI)
Willbros Group Inc (NYSE:WG), with shares declined -50.91%, closed at $2.69.
eBay Inc (NASDAQ:EBAY), with shares dropped -1.79%, settled at $58.42.
Acorn Energy Inc (NASDAQ:ACFN), with shares dipped -26.86%, and closed at $0.366, hitting new 52-week low of $0.25.
500.com Ltd (NYSE:WBAI), plummeted -20.75%, and closed at $9.36.
Latest NEWS regarding these Stocks are depicted underneath:
Willbros Group Inc. (NYSE:WG)
In the course of mid-morning trade Wednesday, Willbros Group Inc. (WG), drowned following the news about the missing out of its deadline for its annual financial report.
Willbros warned that the decline in its oil-and-gas business may lead to credit defaults that eventually may raise concerns regarding its ability to go on.
On Tuesday, the company declared that it is filing a Form 12b-25 Notification of Late Filing with the U.S. Securities and Exchange Commission (SEC) with regard to its Annual Report on Form 10-K for the year ended December 31, 2014. The Corporation has determined that it is unable to file its Form 10-K for the year ended December 31, 2014 within the prescribed time period without unreasonable effort or expense for the following reasons.
The Corporation does not expect to be in compliance with its Maximum Leverage Ratio and Minimum Interest Coverage Ratio for the period from March 31, 2015 through March 31, 2016. As a result, the Corporation is in discussions with its lenders regarding amendments and waivers to its credit contracts. Without a definitive waiver or amendment, all indebtedness under its credit contracts would become due in the next twelve months. If the debt under the Corporation’s credit contracts becomes accelerated and the lenders demand repayment, it is predictable that the Corporation will not have sufficient forecasted liquidity to retire its existing debt obligations, which raises substantial doubt on the Corporation’s ability to continue as a going concern. The Corporation is engaged in discussions with its lenders with regard to any necessary waivers and amendments but gives no assurance that any such waivers and amendments will be finalized. As a result, the Corporation is unable to accurately evaluate and disclose the influence of noteworthy risks and uncertainties associated with the Corporation, counting its potential non-compliance with certain financial covenants. The Corporation has determined that a material weakness existed at December 31, 2014, over the assessment of noteworthy risks and uncertainties associated with its ability to comply with financial covenants contained in its credit contracts, and over the assessment of its ability to meet its liquidity and capital resource needs for a reasonable period of time, primarily as a result of not reflecting certain business conditions timely and adequately in its forecast process.
The Corporation anticipates to file its Form 10-K for the year ended December 31, 2014 within the time period prescribed in Rule 12b-25 under the Securities Exchange Act of 1934.
Willbros Group, Inc. operates as an energy infrastructure contractor serving the oil, gas, refinery, petrochemical, and power industries worldwide. The corporation provides engineering, procurement, and construction (EPC), turnarounds, maintenance, facilities development, and operations services to industry and government entities.
eBay Inc. (NASDAQ:EBAY)
On Tuesday, eBay Inc. (EBAY), and Sotheby’s (BID) jointly declared the launch of the Sotheby’s live auctions experience on eBay. Part of eBay’s new live auctions platform, ebay.com/sothebys is now accessible for browsing and advance bidding on Sotheby’s unique items leading up to the launch of Sotheby’s first live auctions on eBay on April 1. The experience enables art aficionados and casual collectors alike to take part in Sotheby’s live auctions anytime, anywhere with the same confidence and access of those bidding in person in New York.
eBay and Sotheby’s originally declared plans to partner on live auctions last July, and have since worked together to deliver an engaging virtual entrance to Sotheby’s unique inventory. Sotheby’s first live auctions on eBay will be a themed New York sale and a Photographs sale.
The Sotheby’s live auctions destination features high-resolution images, hosted video capabilities, and live streaming audio and video. All participants – regardless of their location – will see the exact item offered in the Sotheby’s New York salesroom and on eBay at the same time and have the ability to bid online in real time. The technology debuting within the Sotheby’s live auctions experience will be the first use of live streaming audio and video anywhere on eBay.
eBay’s live auctions platform brings a fresh perspective and new opportunities for its 155 million active buyers to discover, browse and attain authentic, premium art and collectibles offered by hundreds of auction houses from around the world.
eBay Inc. operates as a technology corporation that enables commerce and payments on behalf of users, merchants, retailers, and brands of various sizes in the United States and internationally.
Acorn Energy, Inc. (NASDAQ:ACFN)
On Wednesday, Acorn Energy, Inc. (ACFN), an energy technology holding corporation declared that it has stopped funding its majority-owned US Seismic Systems (USSI) partner and that USSI has suspended operations and terminated substantially all employees. USSI intends to sell its assets and is exploring ways to maximize value for creditors and other stakeholders, expecting that most of the proceeds from any sale of its assets will be used to pay creditors. It is uncertain whether there will be any proceeds accessible to Acorn Energy or other USSI shareholders.
Acorn will record write offs on its 2014 financial statements of substantially all USSI assets, counting $4.9 million of inventory, $3.4 million of goodwill and intangibles, $1.0 million of fixed assets.
Acorn Energy, Inc., through its auxiliaries, provides technology driven solutions for energy infrastructure asset administration worldwide. It offers oil and gas sensor systems, a fiber optic sensing system for the energy, commercial security, and defense markets. The corporation’s patented ultra-high sensitivity fiber optic sensors are designed to replace electronic sensors with fiber optic sensors.
500.com Limited (NYSE:WBAI)
500Wan.Com Limited (NYSE:WBAI) has been given a short term rating of sell on with a rank of 4 by market analysts at Zacks. The counter has received an average rating of 2 from 2 brokerage firms. 1 analysts have rated the corporation as a strong buy. The Counter has been rated as hold from 1 Wall Street Analysts.
500.com Limited provides online sports lottery services in the People’s Republic of China. It operates as an aggregator and processor of lottery purchase orders from its registered user accounts.
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