During Wednesday’s Morning trade, Shares of SandRidge Energy, Inc. (NYSE:SD), lost -1.53% to $0.86.
On June 10, SandRidge Energy has closed its formerly declared private offering of $1.25 billion in aggregate principal amount of senior secured notes due 2020. The Notes were issued at par and bear interest at a rate of 8.75% per annum. The Notes are secured on a second-lien priority basis and guaranteed by each of the Company’s auxiliaries that guarantee the Company’s revolving credit facility. In addition, the Company’s formerly declared amended and restated first-lien revolving bank credit facility with an initial $500 million borrowing base became effective June 10.
The Company used a portion of the net proceeds from the offering of the Notes to repay all borrowings under its existing revolving credit facility and will use the remainder for general corporate purposes.
SandRidge Energy, Inc., an oil and natural gas company, explores for and produces oil and natural gas properties primarily in the Mid-Continent region of the United States. The company operates through three segments: Exploration and Production, Drilling and Oil Field Services, and Midstream Services. The Exploration and Production segment explores for, develops, and produces oil and natural gas properties; and operates wells.
Shares of JetBlue Airways Corporation (NASDAQ:JBLU), inclined 0.96% to $20.96, during its current trading session, following the airline’s declaration that it will start charging bag fees.
The company set a minimum fee of $20 on the first checked bag for customers who buy its cheapest “blue” tickets, according to The Wall Street Journal.
JetBlue said the second checked bag will cost $35, and added that it believes about half its customers don’t check bags.
Credit Suisse analyst Julie Yates said fair options at JetBlue are predictable to drive $65 million in operating profit in 2015, ramping to a run rate of $200 million by 2017. This will be achieved through “annualization, expansion of the airline, in addition to dynamic pricing,” the analyst said.
She added, “Similar to the implementation of the company’s Even More product, fare options was rolled out in a simplified fashion, with static pricing that will likely enhance over time as fees become optimized via technology that varies price by time of day/flight.”
The firm anticipates stock outperformance to continue in the 2nd-half and reiterated an Outperform rating price target of $25.
In other news, CEO Dave Barger sold 32,500 shares of JetBlue Airways stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $21.49, for a total value of $698,425.00. The transaction was revealed in a legal filing with the SEC.
Also, Director Frank V. Sica sold 40,500 shares of JetBlue Airways stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $21.72, for a total value of $879,660.00.
JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2014, the company operated a fleet of 13 Airbus A321 aircrafts, 130 Airbus A320 aircrafts, and 60 EMBRAER 190 aircrafts.
Finally, Novartis AG (NYSE:NVS), gained 0.85%, and is now trading at $99.18.
On June 10, Novartis AG declared one-year study results from the MEASURE 2 pivotal Phase III study of investigational secukinumab in ankylosing spondylitis (AS). Data from the study demonstrated that about 74% of patients achieved clinically noteworthy improvement in their symptoms after one year of treatment, as measured by ASAS20, a standard tool used to assess clinical improvement in AS1. Detailed study results were presented at the European League Against Rheumatism 2015 Annual Scientific Meeting (EULAR), in Rome, Italy . The safety and efficacy of investigational secukinumab are still under review for AS and market authorization has not been obtained.
In MEASURE 2, patients treated with investigational secukinumab 150 mg achieved significantly higher ASAS20 as compared to placebo at Week 16 (61.1% vs 28.4%; p1
Importantly, MEASURE 2 showed investigational secukinumab clinical benefits were observed in patients without previous treatment with anti-TNFs and those with inadequate response or intolerance to anti-TNF therapy.
Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. Its Pharmaceuticals division offers patented prescription medicines in various therapeutic areas, such as oncology, cardio-metabolic, immunology and dermatology, retina, respiratory, neuroscience, and established medicines.
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