On Wednesday, Genie Energy Ltd (NYSE:GNE)’s shares declined -9.01% to $11.62.
Genie Energy Ltd (GNE) stated first quarter 2015 revenue of $74.4 million, negative Adjusted EBITDA* of $0.4 million, and a net loss attributable to common stockholders of $2.4 million ($(0.11) per basic and diluted share).
COMMON STOCK DIVIDEND
The Board of Directors of Genie Energy has declared a quarterly dividend of $0.06 per share to holders of its Class A and Class B common stock for the first quarter of 2015. The dividend will be paid on or about May 22, 2015 to stockholders of record as of the close of business on May 15, 2015. The ex-dividend date will be May 13, 2015. The distribution will be treated as a return of capital for tax purposes.
Genie Energy Ltd., through its partner, Genie Energy International Corporation, operates as a retail energy provider and a developer of an oil and gas exploration company. The company operates through two segments, Genie Retail Energy and Genie Oil and Gas. The Genie Retail Energy segment resells electricity and natural gas to residential and small business customers primarily in the Eastern United States.
Vitae Pharmaceuticals Inc (NASDAQ:VTAE)’s shares dropped -9.34% to $12.13.
Vitae Pharmaceuticals Inc (VTAE) declared that Jeffrey Hatfield, President and Chief Executive Officer, will present a company overview at the UBS Global Healthcare Conference on Wednesday, May 20, 2015 at 12:30 p.m. EDT at the Sheraton New York Times Square Hotel.
Vitae Pharmaceuticals, Inc., a biotechnology company, focuses on discovering and developing novel and small molecule drugs for diseases with unmet medical needs in the United States.
At the end of Wednesday’s trade, The Phoenix Companies, Inc. (NYSE:PNX)‘s shares dipped -8.14% to $19.96.
The Phoenix Companies, Inc. (PNX) declared financial results for the first quarter of 2015 and filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2015 with the U.S. Securities and Exchange Commission (“SEC”).
FIRST QUARTER 2015 EARNINGS DRIVERS
The net loss attributable to The Phoenix Companies, Inc. was $74.0 million for the first quarter of 2015, contrast with a net loss attributable to The Phoenix Companies, Inc. of $28.1 million for the first quarter of 2014.
Primary drivers of the first quarter 2015 loss:
- A $48.5 million non-recurring charge in connection with a formerly revealed agreement to settle class actions regarding certain cost of insurance (“COI”) rate adjustments. The April 30, 2015 agreement is subject to certain conditions and court approval.
- Unfavorable mortality in the open block, primarily in the universal life (“UL”) product line, that contributed about $30 million to the loss.
- Total financial reporting expenses of $19.2 million, counting $2.1 million regarding remediation, $9.5 million in audit and restatement expenses, and $7.6 million in other external financial reporting support.
The Phoenix Companies, Inc., together with its auxiliaries, provides life insurance and annuity products in the United States. It operates in two segments, Life and Annuity, and Saybrus.
CEL-SCI Corporation (NYSEMKT:CVM), ended its Wednesday’s trading session with -9.19% loss, and closed at $0.908.
CEL-SCI Corporation (CVM) has authorized the Company to commence patient enrollment for its ongoing Phase 3 trial of its investigational immunotherapy Multikine* (Leukocyte Interleukin, Injection) in patients with advanced primary squamous cell carcinoma of the oral cavity/soft palate, a type of head and neck cancer. Italy is the 23rd country to authorize CEL-SCI’s Phase 3 trial for patient enrollment.
Having surpassed its originally planned milestone of receiving authorization to conduct the Phase 3 study from 21 countries, CEL-SCI is now aiming to expand the trial into a total of about 100 clinical centers in about 25 countries. As of April 30, 2015, 437 patients had been enrolled in the global Phase 3 study.
CEL-SCI Corporation engages in the research and development of drugs and vaccines. The company’s lead investigational immunotherapy is Multikine, which is under pivotal phase III clinical trial for the treatment of primary head and neck cancer.
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