On Wednesday, Following U.S. Stocks were among the “Top Losers”: Pilgrim’s Pride Corporation, (NASDAQ:PPC), Organovo Holdings, (NASDAQ:ONVO), Sanderson Farms, (NASDAQ:SAFM), Iridium Communications, (NASDAQ:IRDM)
Pilgrim’s Pride Corporation, (NASDAQ:PPC), with shares dwindled -4.39%, closed at $25.37.
Sanderson Farms, (NASDAQ:SAFM), with shares declined -4.22%, settled at $79.03.
Organovo Holdings, (NASDAQ:ONVO), with shares dipped -3.97%, and closed at $4.60, hitting new 52-week low of $4.47.
Iridium Communications, (NASDAQ:IRDM), dropped -3.91%, and closed at $9.35.
Latest NEWS regarding these Stocks are depicted underneath:
Pilgrim’s Pride Corporation (NASDAQ:PPC)
Pilgrim’s Pride Corporation (PPC), declared it has closed an offering of $500.0 million aggregate principal amount of Senior Unsecured Notes due 2025 (the “Notes”) to qualified institutional buyers in accordance with Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). The Notes will bear interest at a rate of 5.750% per year, payable semi-annually in arrears on March 15 and September 15 of each year, starting on September 15, 2015.
The Corporation intends to apply $350.0 million of the net proceeds against the payment of indebtedness outstanding under the term loan commitment of its U.S. credit facility, which will result in a more balanced portfolio of variable and fixed interest debt. The balance of the net proceeds from the sale of the Notes will be used for general corporate purposes.
Pilgrim’s Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products to retailers, distributors, and foodservice operators in the United States, Mexico, and Puerto Rico. It offers fresh chicken products comprising pre-marinated or non-marinated, and prepackaged refrigerated (nonfrozen) whole or cut-up chicken in various combinations of refrigerated whole chickens and chicken parts.
Sanderson Farms, Inc. (NASDAQ:SAFM)
Formerly on February 24, Sanderson Farms, Inc. (SAFM), stated results for the first quarter of fiscal 2015 ended January 31, 2015.
Net sales for the first quarter of fiscal 2015 were $667.4 million contrast with $584.9 million for the same period a year ago. The Corporation stated net revenue of $66.5 million, or $2.87 per share, for the quarter contrast with net revenue of $28.9 million, or $1.25 per share, for the first quarter of fiscal 2014.
According to Sanderson, overall market prices for poultry products were higher during the first quarter contrast with the same period last year. Contrast with the first fiscal quarter of 2014, the average Georgia dock price for whole chickens was about 9.2 percent higher, boneless breast meat prices were about 6.6 percent higher, the average market price for bulk leg quarters raised about 2.1 percent, and jumbo wing prices were higher by 52.2 percent. The Corporation’s average feed cost per pound of poultry products processed reduced 3.27 cents per pound, or 10.1 percent, contrast with the first quarter of fiscal 2014, and prices paid for corn and soybean meal, the Corporation’s primary feed ingredients, reduced 9.3 percent and 5.5 percent, respectively, contrast with the first quarter of fiscal 2014.
“The record corn and soybean crops harvested in the United States last fall sufficiently restocked United States soybean and corn balance tables headed into the 2015 planting season, but market prices for both corn and soybean meal have moved higher since the harvest,” added Sanderson. “Despite this raise in grain prices, had we priced all of our fiscal 2015 grain needs at yesterday’s prices, our grain costs would be lower by $121.0 million during fiscal 2015 contrast to fiscal 2014, which would translate into a savings of 3.6 cents per pound processed.
“Broiler egg sets have been higher than the previous year’s levels every week since last summer, and the industry has also raised breeder stock supplies. Financially healthy, fully employed and confident American consumers could absorb the additional chicken production indicated by higher broiler egg sets if we see continued improvement in macroeconomic conditions and relatively low gasoline prices.
“Construction of our new Palestine, Texas, complex is complete and production at the new complex began February 9, 2015. We look forward to the opportunities the new facility will create as we move to full production over the next year. We continue our due diligence on sites in North Carolina for our next poultry complex, and hope to complete that process soon. Construction of the new complex will, of course, be subject to various contingencies counting final approval by the Corporation’s Board of Directors.”
Sanderson Farms, Inc., an integrated poultry processing corporation, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. Its shares trade on the NASDAQ Global Select Market under the symbol SAFM.
Organovo Holdings, Inc. (NASDAQ:ONVO)
Formerly on March 6, Organovo Holdings, Inc. (ONVO), a three-dimensional biology corporation focused on delivering breakthrough 3D bioprinting technology, declared that the March 5th presentation given by President and CEO Keith Murphy is now accessible for on-demand viewing at VirtualInvestorConferences.com.
LINK to the corporation update presentation: http://virtualinvestorconferences.com > red “register / watch presentations here” button.
Organovo’s corporation update presentation will be accessible 24/7 for 90 days. Investors and advisors may download shareholder materials from the “virtual trade booth” for the next three weeks.
Organovo designs and creates functional, three-dimensional human tissues for use in medical research and therapeutic applications. The Corporation develops 3D human disease models through internal development and in partnershipwith pharmaceutical and academic partners.
Iridium Communications Inc. (NASDAQ:IRDM)
Iridium Communications Inc. (IRDM), declared Thales has joined the roster of manufacturing partners that will design, manufacture and distribute products for the Iridium Certus broadband service. Iridium Certus will leverage the improved capabilities of Iridium NEXT to deliver versatile, reliable, enterprise-grade communications, anywhere and everywhere in the world. Adding Thales as a manufacturing partner is another example of continued execution of Iridium’s long-term, planned plan to team with industry leaders for the production and distribution of best-in-class mobile broadband products, supporting aviation, maritime and terrestrial markets.
“We are excited to welcome Thales as a partner developing solutions for the Iridium Certus broadband platform,” said Matt Desch, CEO, Iridium. “Leading manufacturers such as Thales will drive innovation and inspire a greater diversity of solutions to the industry. The products based on Iridium Certus broadband will provide critical and reliable communications for people and companies globally.”
Iridium Communications Inc. provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign governments, non-governmental organizations, and consumers worldwide. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. The corporation has a major development program underway for its next-generation network — Iridium NEXT. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its ordinary stock trades on the NASDAQ Global Select Market under the ticker symbol IRDM.
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