On Tuesday, Following Stocks were among the “Top 50 Losers” of U.S. Stock Market: Kandi Technolgies Group, Inc. (NASDAQ:KNDI), Bankrate, Inc. (NYSE:RATE), Biocept, Inc. (NASDAQ:BIOC), Alpha Natural Resources, Inc. (NYSE:ANR)
Kandi Technolgies Group, Inc. (NASDAQ:KNDI), with shares declined -6.12%.
Bankrate, Inc. (NYSE:RATE), with shares dropped -5.97%, settled at $11.66.
Biocept, Inc. (NASDAQ:BIOC), with shares dipped -5.91%, and closed at $2.39.
Alpha Natural Resources, Inc. (NYSE:ANR), plummeted -5.50%, and closed at $0.81, hitting new 52-week low of $0.78.
Latest NEWS regarding these Stocks are depicted underneath:
Kandi Technolgies Group, Inc. (NASDAQ:KNDI)
On Monday, Kandi Technolgies Group, Inc. (KNDI), declared its financial results for the full year ending December 31, 2014.
Full Year 2014 Highlights:
- Total proceeds grew 80.1% to $170.2 million from $94.5 million in 2013;
- Electric Vehicle (“EV”) Parts sales raised significantly by 6,653.4% to $116.4 million contrast to $1.7 million in the previous year;
- Full year sales for our joint venture corporation, Kandi Electric Vehicles Group Co., Ltd., were $215.5 million, with net revenue of $7.5 million. Based on Kandi’s 50% equity ownership in the JV Corporation, Kandi recorded $4.5 million in net revenue (after tax and intra-entity elimination) in 2014;
- The JV Corporation sold 10,935 EV products during the full year of 2014, with 3,656 EVs sold in the fourth quarter;
- GAAP net revenue in 2014 was $12.3 million, or about $0.29 per fully diluted share, a 158.0% raise contrast to a net loss of $21.1 million, or about ($0.61) in 2013;
- Non-GAAP adjusted net revenue**, which excludes stock award expense and change in the fair value of financial derivatives, was $14.2 million, or about $0.33 per fully diluted share, a 174.8% raise from $5.2 million for 2013;
- Working capital surplus was $39.2 million as of December 31, 2014, contrast to a working capital deficit of $6.6 million as of December 31, 2013;
- Cash, cash equivalents and restricted cash totaled $39.3 million as of December 31, 2014 contrast to $12.8 million as of December 31, 2013.
Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua, Zhejiang Province, is engaged in the research and development, manufacturing and sales of various vehicle products. Kandi has established itself as the one of the China’s leading manufacturers of pure electric vehicle (“EV”) products, EV parts and off road vehicles.
Bankrate, Inc. (NYSE:RATE)
On Tuesday, Bankrate, Inc. (RATE), provides a business update, counting preliminary selected financial results for the three months ended December 31, 2014. The preliminary information has been prepared by the Corporation’s administration and has not undergone the audit by the Corporation’s outside auditors that is customary for the release of annual results. The results are preliminary due to the additional time needed to complete the Corporation’s review of its financial statements for the preceding periods, the influence, if any, of such review on the Corporation’s results for the three months ended December 31, 2014, and the influence, if any, of adjustments resulting from the audit by the Corporation’s outside auditors of the Corporation’s financial results for 2014.
Total proceed from ongoing operations for the fourth quarter of 2014 is predictable to be about $136.5 million. GAAP net revenue for the fourth quarter of 2014 is predictable to be between $8.5 million and $8.9 million, which comprises the influence of about $4.1 million of legal and other expenses regarding the formerly revealed regulatory investigations and related litigation, and the internal review of the Corporation’s financial statements for fiscal years 2011, 2012 and 2013. Adjusted EBITDA margin for the fourth quarter of 2014 is predictable to be between 24% and 25%, which also comprises the influence of the about $4.1 million of legal and other expenses described above. Both proceed from ongoing operations and Adjusted EBITDA margin exclude Bankrate’s China operations, which are classified as suspended operations. The Corporation anticipates to report cash and cash equivalents at the end of the fourth quarter of about $141.7 million.
2015 Guidance:
The Corporation anticipates to issue 2015 guidance when it reports audited financial results for the full year 2014.
Bankrate is a leading publisher, aggregator, and distributor of personal finance content on the Internet. Bankrate provides consumers with proprietary, fully researched, comprehensive, independent and objective personal finance editorial content across multiple vertical categories counting mortgages, deposits, insurance, credit cards, and other categories, such as retirement, automobile loans, and taxes.
Biocept, Inc. (NASDAQ:BIOC)
Formerly on March 10, Biocept, Inc. (BIOC), a molecular oncology diagnostics corporation specializing in biomarker analysis of circulating tumor DNA (ctDNA) and circulating tumor cells (CTCs), declared the launch of its EGFR mutation detection testing utilizing a patient’s blood-based liquid biopsy. This innovative diagnostic has the potential to assist physicians identify which of their patients may be receptive to certain non-small cell lung cancer treatments.
The identification of these mutations in patients with advanced NSCLC can provide them with the opportunity to receive optimal targeted therapies, known as Tyrosine Kinase Inhibitors (TKIs). In the United States, there are two FDA-approved TKI therapies for patients with specific EGFR mutations: Erlotinib, marketed as Tarceva(R) by Genentech, Inc.; and Afatinib, marketed as Gilotrif(R) by Boehringher Ingelheim GmbH.
“At the time of recurrence or progression of non-small cell lung cancer, many patients may not have the option to have an assessment of EGFR mutation status because all of the original tissue biopsy material was consumed by the diagnostic testing conducted to identify the cancer. In other cases, patients may be too sick to undergo a surgical biopsy. For patient populations who are not candidates for tissue biopsy, there is a clear need for a test that enables physicians to better manage their cancer,” said Raaj Trivedi, VP of Commercial Operations for Biocept. “With the addition of EGFR mutation testing to our NSCLC diagnostic capabilities, we believe we are addressing this unmet medical need by delivering diagnostic results that are comparable to those accessible through tissue biopsy from a simple blood test.”
Lung cancer is the leading cause of cancer-related death among men and women. According to data from the National Cancer Institute in 2013, an estimated 228,190 Americans will be diagnosed with lung cancer, and 159,480 would die from the disease. About 85 percent of lung cancers are non-small cell lung cancers (NSCLC), making it the most ordinary type of lung cancer. EGFR gene mutations are present in the tumors of about 10 percent of NSCLC patients, with the majority of these gene mutations expressing EGFR in exon 19 deletions or exon 21 L858R substitutions.
Biocept, Inc., a cancer diagnostics corporation, develops and commercializes proprietary circulating tumor cell (CTC) and circulating tumor DNA tests utilizing a standard blood sample. Biocept has developed proprietary technology platforms for capture and analysis of circulating tumor DNA, both in circulating tumor cells (CTCs) and in plasma (cell free tumor DNA).
Alpha Natural Resources, Inc. (NYSE:ANR)
An employee of Rogers Petroleum, a fuel service contractor for Alpha Natural Resources, Inc. (ANR), associate Republic Energy, Inc., has died on a coal mine haul road on the Republic Energy surface mine in Raleigh County, West Virginia.
The driver was hauling a load of diesel fuel when the truck overturned in a single vehicle accident. There does not appear to have been an eyewitness to the accident. It is unknown at this time whether the death is mining related or due to natural causes.
Alpha Natural Resources, Inc., together with its auxiliaries, engages in extracting, processing, and marketing steam and metallurgical coal in Kentucky, Pennsylvania, Virginia, West Virginia, and Wyoming.
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