Insights about U.S. Stocks from mix sectors that landed in the Green-Zone in the course of Tuesday’s trade, are depicted underneath:
McDermott International (NYSE:MDR)’s shares picked up 27.59%, and closed at $3.33, during the last trading session.
McDermott International Inc. declared financial results for the fourth quarter and full year ended December 31, 2014. The Corporation stated fourth quarter 2014 net revenue of $8.2 million, or $0.03 per fully diluted share, contrast to a net loss of $326.2 million, or $1.38 per diluted share, in the preceding-year quarter. For the year ended December 31, 2014, the Corporation stated a net loss of $76.0 million, or $0.32 per fully diluted share, contrast to a net loss of $508.9 million, or $2.15 per diluted share, in the preceding year.
“McDermott is in a much stronger position today, contrast to a year ago, as a result of our turnaround efforts. With the recapitalization of the Corporation in early 2014, we raised the liquidity needed to work through our legacy contracts, capital expenditure commitments and initiatives for 2014 and for the foreseeable future,” said David Dickson, President and Chief Executive Officer of McDermott.
“We delivered better project execution throughout the year and successfully closed out a number of challenging legacy contracts. The installation of the riser support structure in the fourth quarter was a noteworthy milestone for the INPEX-operated Ichthys project, the industry’s largest subsea contract at its time of award. Our recent awards from Brunei Shell Petroleum, Qatar Petroleum, Pemex and Saudi Aramco and the resolution of legacy commercial issues with other clients reflect our improving customer relationships. Even in a lower oil commodity price environment, with McDermott’s differentiated capabilities we continue to see opportunities to bid and win new work. With our liquidity, a team of talented leaders and our relentless drive for greater cost efficiency, we believe the Corporation has the strength to work through the industry’s current headwinds.”
Mr. Dickson added, “In addition, our new partnerships with two industry leaders represent part of McDermott’s overall growth strategy. In January, we formed io oil & gas™ consulting with GE Oil & Gas. The new venture is focused on conceptual and pre-FEED consulting for offshore and subsea field development. It leverages both companies’ experience to provide the most efficient solutions, resulting in more accurate cost and plan estimates at the early stages of developments. Additionally, in February, we declared a planned alliance with Petrofac to combine our complementary capabilities to deliver large integrated EPCI subsea projects with Petrofac’s new high-end SURF, ultra-deepwater pipelay and ultra-heavy lift vessel, the JSD 6000. Together, we plan to provide clients an integrated solution on the largest and most complex deepwater developments.”
McDermott International Inc. is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Corporation delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex Offshore and Subsea oil and gas projects to assist oil companies safely produce and transport hydrocarbons.
Hercules Offshore, Inc (NASDAQ:HERO), raised 25.33%, and closed at $0.689.
Hercules Offshore, Inc. formerly on February 26, declared that it has received a notice from Saudi Aramco terminating its drilling contract for the Hercules 261, effective March 27, 2015. The Corporation is in the process of seeking a basis for ongoing the Hercules 261 contract. As formerly revealed, the Corporation has been in discussions with Saudi Aramco about a possible rate reduction on the Hercules 262 and Hercules 266. The Corporation has not received a notice of termination from Saudi Aramco with respect to these rigs.
Headquartered in Houston, Hercules Offshore, Inc. operates a fleet of 33 jackup rigs, counting one rig under construction, and 24 liftboats. The Corporation offers a range of services to oil and gas producers to meet their needs during drilling, well service, platform inspection, maintenance, and decommissioning operations in several key shallow water provinces around the world.
StemCells Inc (NASDAQ:STEM), enhanced 24.32%, and closed at $1.38. The company holds the book value per share of 0.24, whereas cash per share is 0.47. Price to book value is estimated to be 5.75, while price to sale value is 79.06. Analysts mean recommendation for the stock is said to be 3.00 (where 1=Buy, 5=sale).
StemCells Inc. a biopharmaceutical corporation, is engaged in the research, development, and commercialization of stem cell therapeutics, and related tools and technologies for stem cell-based research and drug discovery and development. It develops HuCNS-SC cells that accomplished Phase I clinical trial in pelizaeus-merzbacher disease, a fatal myelination disorder in brain; accomplished a Phase I clinical trial in infantile and late infantile neuronal ceroid lipofuscinosis, which is a neurodegenerative disorder of the brain; and conducting preclinical studies in Alzheimer’s disease. The corporation is also developing HuCNS-SC cells that are in Phase I/II clinical trial for the treatment of chronic spinal cord injury, in addition to for dry age-related macular degeneration.
DURECT Corporation (NASDAQ:DRRX), rose 21.36%, and closed at $1.25.
DURECT Corporation, declared financial results for the three months ended December 31, 2014. Total proceeds were $4.3 million for the three months ended December 31, 2014 and for the three months ended December 31, 2013. Net loss was $5.9 million for the three months ended December 31, 2014 as contrast to a net loss of $5.1 million for the same period in 2013.
Total proceeds were $19.4 million and net loss was $22.1 million for the year ended December 31, 2014, contrast to total proceeds of $15.3 million and net loss of $21.5 million for the year ended December 31, 2013.
At December 31, 2014, we had cash and investments of $34.9 million, contrast to cash and investments of $24.4 million at December 31, 2013. At December 31, 2014, we had $19.8 million in long term debt.
“We are excited to declare recently that the lead product candidate from our Epigenomic Regulator Program, the endogenous small molecule DUR-928, has achieved positive results in multiple animal models and accomplished a successful Phase 1 human safety study,” stated James E. Brown, D.V.M., President and CEO of DURECT. “With respect to POSIDUR™, we have presented to the FDA a protocol synopsis for a soft tissue clinical trial designed to generate the data required to address the Complete Response Letter. Regarding REMOXY®, we are supporting Pain Therapeutics as they focus on an orderly transfer of the program back from Pfizer and finalizing a strategy around the prospect of resubmitting the NDA. Finally, our injectable programs continue to make progress as exemplified by our ophthalmic feasibility study with Santen maturing into a development contract.”
DURECT Corporation, is a specialty pharmaceuticals corporation with expertise in drug discovery, drug delivery and drug development, applying those skills primarily to therapeutics in the fields of pain administration, acute organ injury and metabolic diseases. DURECT’s proprietary oral, transdermal and injectable depot delivery technologies enable new indications and superior clinical/commercial attributes such as improved abuse deterrence, convenience, adherence, efficacy and safety for small molecule and biologic drugs.
