Following U.S. Stocks were among the “Top Losers” during Monday’s trade: Peregrine Pharmaceuticals (NASDAQ:PPHM), American Eagle Energy Corp (NYSEMKT:AMZG), Direxion Shares Exchange Traded Fund Trust (NYSEARCA:GASL), Ultra Petroleum Corp (NYSE:UPL)
Their insights are depicted underneath:
Peregrine Pharmaceuticals (NASDAQ:PPHM)’s shares dwindled -11.04%, and closed at $1.45.
According to GLOBE NEWSWIRE, Peregrine Pharmaceuticals, Inc. (PPHM), a biopharmaceutical corporation focused on advancing bavituximab, a novel immuno-oncology agent in Phase III development, declared that it will report financial results for the third quarter fiscal year (FY) 2015 ended January 31, 2015 on March 12, 2015 after market and will host a conference call and webcast at 1:30 PM Pacific Daylight Time (4:30 PM Eastern Daylight Time). Peregrine’s senior administration will talk about financial results for the third quarter ended January 31, 2015 of FY 2015 and will review recent progress of its clinical development programs.
Peregrine Pharmaceuticals, Inc. is a biopharmaceutical corporation with a pipeline of novel drug candidates in clinical trials for the treatment and diagnosis of cancer.
American Eagle Energy Corp (NYSEMKT:AMZG), declined -10.65%, and closed at $0.178, hitting new 52-week low of $0.15.
According to Marketwired, American Eagle Energy Corporation (AMZG), declares an operations update for the fourth quarter ending December 31, 2014, capital spending and production guidance, and estimated proved reserves for year-end 2014.
2015 Capital Spending Guidance:
The Corporation is focused on capital discipline and maintaining liquidity in the current price environment. In light of the decreasing crude oil price trend, American Eagle stopped drilling in November 2014, after the Huffman 15-34S well, and has suspended its 2015 capital plans until the oil price and service cost environment come into balance. The Corporation has two gross (1.9 net) wells (the Byron 4-4 and the Shelley Lynn 4-4N) that were drilled during the fourth quarter and are awaiting completion. These wells will not be accomplished until pricing conditions improve.
Production Volume and Lease Operating Expense Guidance:
American Eagle estimates that its average production for the fourth quarter ended December 31, 2014, was about 2,588 BOEPD. The Corporation estimates that average production for the first quarter ended March 31, 2015, will be about 1,900 BOEPD. The lower estimated quarterly production reflects the loss of production from the formerly declared non-core asset sale, normal production decline, raised downtime from workovers associated with the conversion of six wells from higher cost submersible pumps to rod pumps and from winter weather.
American Eagle calculated an average lease operating expense (“LOE”) for the fourth quarter of about $25 per barrel of equivalent (“BOE”), which was significantly elevated from previous periods due to year-end adjustments and utilization of higher cost submersible pumps. The Corporation estimates that LOE expenses will trend downward in 2015 from about $20 per BOE to a likely range of $15 to $17 per BOE, reflecting savings from the full utilization of the installed salt water disposal pipelines, arrival of the electrical infrastructure and conversion of submersible pumps to more cost efficient rod pumps. American Eagle is also in the early stages of exploring options to connect to a crude oil gathering system in the area.
American Eagle will host a conference call on Monday, March 16, 2015 at 10:00 a.m. Eastern Time (8:00 a.m. Mountain Time) to talk about financial and operational results for the fourth quarter.
American Eagle Energy Corporation is an independent exploration and production operator that is focused on acquiring acreage and developing wells in the Williston Basin of North Dakota, targeting the Bakken and Three Forks shale oil formations.
Direxion Shares Exchange Traded Fund Trust (NYSEARCA:GASL), dipped -9.91%, and closed at $3.00.
According to Investopedia, Direxion Daily Nat Gas Rltd Bull 3X ETF (GASL), tracks 3x or 300% of the performance of the ISE-Revere Natural Gas Index. The index offers exposure to natural gas on a global level but is comprised of companies located in North America.
Its performance over the past three years (as of Jan. 30, 2015) is as follows,
- Year-to-Date Total Return: -34.19%
- 1-Year Total Return: -91.56%
- 3-Year Total Return: -56.63%.
The investment seeks daily investment results, before fees and expenses, of 300% of the performance of the ISE-Revere Natural Gas IndexTM. The fund creates long positions by investing at least 80% of its assets in the securities that comprise the ISE-Revere Natural Gas IndexTM and/or financial instruments that provide leveraged and unleveraged exposure to the index. These financial instruments comprise: futures contracts; options on securities, indices and futures contracts; equity caps, floors and collars; swap contracts; forward contracts; short positions; reverse repurchase contracts; exchange-traded funds; etc.
Ultra Petroleum Corp (NYSE:UPL), dropped -9.49%, and closed at $14.68. The company has the market capitalization of $2.48B. The beta value of the stock is 1.27. On the other hand the stock’s volatility for the week is 6.38%, and for the month is 7.36%. The stock price to book value is $10.64, however price to sale value is $1.82. Analyst’s mean recommendation regarding this stock is 2.90. (where 1=Buy, 5=Sale).
Ultra Petroleum Corp., an independent oil and gas corporation, engages in the attainment, exploration, development, production, and operation of oil and natural gas properties in the United States.
