On Monday, Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP)’s shares declined -5.02% to $26.86.
Sucampo Pharmaceuticals, Inc. (SCMP) stated merged financial results for the second quarter ended June 30, 2015.
Sucampo stated year-over-year growth of 45% to $34.9 million in total revenue, 16% to $16.1 million in product royalty revenue and 92% to $14.5 million in product sales revenue. Sucampo stated net income of $9.6 million and fully-diluted earnings per share (EPS) of $0.21 during the second quarter of 2015, contrast to net income of $1.6 million and fully-diluted EPS of $0.04 in the same period in 2014.
Sucampo Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the research and development of proprietary drugs in the Americas, Europe, and Asia. It is developing prostones, which are ion channel activators, to treat gastrointestinal, ophthalmic, and oncology-based inflammatory disorders, in addition to other therapeutic applications of drug technologies.
Frontline Ltd (NYSE:FRO)’s shares dropped -0.37% to $2.66.
Frontline Ltd. (FRO) and Frontline 2012 Ltd. (FRNT) (“Frontline 2012”) have recently reached a contract and plan of merger, following which the two companies have agreed to enter into a merger transaction, with Frontline as the surviving legal entity (“the “Surviving Company”) and Frontline 2012 as a wholly-owned partner. Subsequent to the merger, this partner is predictable to merge into the Surviving Company (together, the “Combined Company”) which will retain the Frontline Ltd. name.
Commenting on the transaction, Chairman of Frontline Ltd. and Frontline 2012 Ltd., John Fredriksen stated: “By merging Frontline and Frontline 2012 we will regain Frontline’s position as a leading tanker Company. The Combined Company will have a large fleet and a strong balance sheet which puts us in a position to gain further market share through acquisitions and consolidation opportunities. With the current strong tanker market and attractive cash break even rates, we believe the Combined Company will generate noteworthyfree cash. The intention is to pay out excess cash as dividends at the Board’s discretion. I am very happy with this merger and I am determined to develop and grow the Company further.”
Frontline Ltd., a shipping company, through its auxiliaries, owns and operates oil tankers and oil/bulk/ore carriers. The company provides seaborne transportation of crude oil and oil products. It’s very large crude carriers (VLCCs) primarily transport crude oil from the Middle East Gulf to the Far East, Northern Europe, the Caribbean, and the Louisiana Offshore Oil Port, in addition to Suezmax tankers trade in the Atlantic Basin, the Middle East, and Southeast Asia. As of December 31, 2014, the company’s tanker fleet comprised of 22 vessels, counting 14 VLCCs and 8 Suezmax tankers. It is also involved in the charter, purchase, and sale of vessels.
At the end of Monday’s trade, Pinnacle West Capital Corporation(NYSE:PNW)‘s shares dipped -1.57% to $59.53.
Pinnacle West Capital Corporation (PNW) Board of Directors declared a quarterly dividend of $0.595 per share of common stock, payable on September 1, 2015, to shareholders of record on August 3, 2015.
Pinnacle West Capital Corporation, through its partner, Arizona Public Service Company, provides retail and wholesale electric services primarily in the State of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar resources. The company serves about 1.2 million customers. It owns or leases about 6,426 megawatts of regulated generation capacity. The company was founded in 1920 and is headquartered in Phoenix, Arizona.
KAR Auction Services Inc (NYSE:KAR), ended its Monday’s trading session with -0.91% loss, and closed at $37.04.
Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services (KAR), and the leading live and live-online salvage auto auction company, recently declared the recent expansion of its Austin branch. The facility, now comprising 57 acres, offers IAA buyers and sellers an improved auction experience.
IAA relocated its Austin branch in July 2012 to the current location, which initially spanned 37 acres and featured two covered run-and-drive lanes and 250 feet of covered motorcycle and high-value vehicle storage area. The recent expansion of 20 acres, accomplished this month, gives IAA more versatility in providing quality service and raised production to a higher volume of customers.
IAA’s unmatched operational expertise assists to provide end-to-end solutions and standardized quality assurance practices. IAA buyers have access via their mobile devices and can bid on up to eight auctions at a time. The IAA Auction Center offers auctions in six languages counting: English, Spanish, Mandarin Chinese, French, Polish and Russian. An estimated 30 percent of IAA’s vehicles are sold and exported to foreign countries, which further strengthens its philosophy of choice and flexibility with “anywhere” access and mobile technology.
KAR Auction Services, Inc., together with its auxiliaries, provides vehicle auction services in North America. It operates in three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities. It also provides value-added services, such as auction related, transportation, reconditioning, inspection, title and repossession administration and remarketing, and analytical services. This segment sells its products and services through vehicle manufacturers, rental car companies, and finance companies.
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