On Friday, Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP)’s shares declined -0.79% to $73.27.
Ctrip.com International Ltd. (CTRP) declared the completion of US$700 million in aggregate principal amount of convertible senior notes due 2020 (the “2020 notes”) and US$400 million in aggregate principal amount of convertible senior notes due 2025 (the “2025 notes” and, together with the 2020 notes, the “notes”). The notes were offered to qualified institutional buyers following Rule 144A under the United States Securities Act of 1933, as amended (the “Securities Act”), and certain non-U.S. persons in compliance with Regulation S under the Securities Act. The Company has granted the initial purchaser a 30-day option to purchase up to an additional US$105 million principal amount of the 2020 notes and an additional US$60 million principal amount of the 2025 notes solely to cover over-allotments, if any. The 2020 notes will be convertible into Ctrip’s American depositary shares (“ADSs”), each representing as of the date of this press release 0.25 of an ordinary share of Ctrip, at the option of the holders, based on an initial conversion rate of 9.1942 of the Company’s ADSs per $1,000 principal amount of notes (which is equivalent to an initial conversion price of about US$108.76 per ADS and represents an about 45.0% conversion premium over the closing trading price of the Company’s ADSs on June 18, 2015, which was US$75.01 per ADS). The 2025 notes will be convertible into Ctrip’s ADSs, at the option of the holders, based on an initial conversion rate of 9.3555 of the Company’s ADSs per $1,000 principal amount of notes (which is equivalent to an initial conversion price of about US$106.89 per ADS and represents an about 42.5% conversion premium over the closing trading price of the Company’s ADSs on June 18, 2015 of US$75.01 per ADS). The conversion rate for each of the 2020 notes and the 2025 notes is subject to adjustment upon the occurrence of certain events.
Ctrip.com International, Ltd., together with its auxiliaries, provides travel services for hotel accommodations, transportation ticketing services, packaged tours, and corporate travel administration in the People’s Republic of China. It also offers independent leisure travelers bundled packaged-tour products, counting group tours, semi-group tours, and private tours or packaged tours with various transportation arrangements, such as cruise, bus, or self-driving.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA)’s shares gained 1.39% to $4.39.
Arena Pharmaceuticals, Inc. (ARNA) declared that Robert E. Hoffman, Senior Vice President, Finance and Chief Financial Officer, has decided to leave the company after nearly 18 years of service to pursue another opportunity in the biotechnology industry. Mr. Hoffman is predictable to remain in his current role at Arena until July 10, 2015.
Arena Pharmaceuticals, Inc., a biopharmaceutical company, discovers, develops, and commercializes novel drugs that target G protein-coupled receptors. The company offers BELVIQ, a drug used to treat chronic weight administration in adults. It is also developing a portfolio of programs in various therapeutic areas, counting cardiovascular, central nervous system, and metabolic diseases. Its products under development comprise Ralinepag, an agonist of the prostacyclin receptor intended for the treatment of vascular diseases, counting potentially pulmonary arterial hypertension that is in Phase II clinical trials.
At the end of Friday’s trade, Zions Bancorporation (NASDAQ:ZION)‘s shares surged 0.88% to $32.49.
Zions Bancorporation (ZION) declared that it will report its second quarter 2015 earnings results after the NASDAQ close on Monday, July 20, 2015. A conference call talk about the quarterly results will be held at 5:30 p.m. ET on the same day. Forward looking and other material information may be talk about on this conference call.
Zions Bancorporation, a financial holding company, provides a range of banking and related services in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash administration and related products and services; and residential mortgage servicing and lending. It also provides trust and wealth administration services; limited capital markets services, counting municipal finance advisory and underwriting; and investment services. In addition, the company offers personal banking services, counting home mortgages, bankcard, other installment loans, home equity lines of credit, checking accounts, savings accounts, certificates of deposit of various types and maturities, trust services, safe deposit facilities, direct deposit, and Internet and mobile banking services.
Cognizant Technology Solutions Corp (NASDAQ:CTSH), ended its Friday’s trading session with 0.20% gain, and closed at $63.83.
Cognizant (CTSH) declared a planned relationship with Escorts Limited, one of India’s leading engineering conglomerates, to modernize Escorts’ technology landscape and assist achieve the company’s vision of digitally transforming its businesses to deliver innovative products, provide superior customer experience, and drive growth. This multi-year, multi-million dollar engagement spans all of Escort’s businesses, counting agri-machinery, material handling and construction equipment, railway equipment and auto components.
Cognizant will enable Escorts to improve control and partnership across its value chain by mobile-enabling its workforce and integrating multiple systems used by vendors, sales partners, and customers. This will assist Escorts continuously improve product quality and offer a broad range of customized, configurable, and value-added products and services, strengthening existing customer relationships and building new ones.
Cognizant Technology Solutions Corporation provides information technology (IT), consulting, and business process services worldwide. The company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. Its consulting and technology services comprise IT strategy consulting, program administration consulting, operations improvement consulting, strategy consulting, and business consulting services; and application design and development, systems integration, enterprise resource planning, and customer relationship administration implementation services.
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