On Friday, Shares of Ford Motor Co. (NYSE:F), gained 1.38% to $15.48.
Ford Motor Company, retains the status quo after Thursday’s annual meeting, where shareholders voted their approval of the 15 members of the board of directors while turning down calls to change the dual-class nature of the voting shares.
The shareholder meeting in Wilmington, Del., lasted only 55 minutes, with at least half devoted to questions and comments from mostly happy shareholders.
On the other hand, Ford Motor may be stable and earning a profit but shareholders in the No. 2 U.S. automaker were decidedly less enthusiastic Ford’s shares have performed poorly since the turn of the century.
Bill Ford Jr., executive chairman, reassured attendees at the company’s annual meeting in Delaware Thursday that “we’re on track to have a very good year in 2015,” as quoted by Bloomberg. “If people are paying attention, I believe the stock price will take care of itself.”
Ford Motor Company manufactures and distributes automobiles worldwide. The company operates through two sectors, Automotive and Financial Services. The Automotive sector develops, manufactures, distributes, and services vehicles, parts, and accessories.
Shares of MetLife, Inc. (NYSE:MET), declined -1.07% to $52.58, during its last trading session.
MetLife, declared that it has declared second quarter 2015 dividends of $0.2555555 per share on the company’s floating rate non-cumulative preferred stock, Series A (NYSE: METPrA), and $0.4062500 per share on the company’s 6.50% non-cumulative preferred stock, Series B (NYSE: METPrB). Both dividends are payable June 15, 2015, to shareholders of record as of May 31, 2015.
MetLife, Inc. provides life insurance, annuities, employee benefits, and asset administration products in the United States, Japan, Latin America, Asia, Europe, and the Middle East. It operates in six segments: Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America; Asia; and Europe, the Middle East and Africa.
At the end of Friday’s trade, Shares of Sorrento Therapeutics, Inc. (NASDAQ:SRNE), gained 13.13% to $13.01, hitting its highest level.
Sorrento Therapeutics, declared that NantPharma, founded by Dr. Patrick Soon-Shiong and a member of the NantWorks ecosystem of companies, agreed to acquire the rights to Cynviloq through the acquisition of Igdrasol, Inc., a wholly-owned partner of Sorrento, which has been developing Cynviloq (paclitaxel nanoparticle polymeric micelle) in a bio-equivalence trial. Dr. Soon-Shiong was the founder of Abraxis BioScience and inventor and developer of the blockbuster drug Abraxane® (albumin-bound paclitaxel), presently approved for the treatment of breast, lung, and pancreatic cancers. Under the terms of the agreement, Sorrento will receive more than $90 million in an up-front cash payment plus the potential for more than $600 million in regulatory and $600 million in sales milestone payments. Sorrento will also receive additional transfer pricing payments from total unit sales. Furthermore, Sorrento has the option to co-develop and/or co-market Cynviloq on terms to be negotiated.
Sorrento Therapeutics, Inc., a biopharmaceutical company, focuses on the discovery, acquisition, development, and commercialization of proprietary drug therapeutics for addressing unmet medical needs in the United States, Europe, and internationally.
Finally, Gevo, Inc. (NASDAQ:GEVO), ended its last trade with 1.79% gain, and closed at $3.97.
Gevo, declared that it has priced its underwritten public offering of common stock units.
Gevo declared that it has agreed to sell 4,300,000 common stock units. Each common stock unit comprises of one share of common stock and one-tenth of a Series C warrant to purchase one share of common stock at a public offering price of $4.00 per common stock unit. The warrants will have an exercise price of $5.50 per share, be exercisable from the date of original issuance and will expire on May 19, 2020. The shares of common stock and the warrants will be right away separable and will be issued separately. The gross proceeds to Gevo from this offering are predictable to be about $17.2 million not counting any future proceeds from the exercise of the warrants.
Gevo presently intends to use the net proceeds from the offering, not taking into account any future proceeds from the exercise of the warrants, to fund working capital and for other general corporate purposes.
In connection with the offering, Cowen and Company, LLC is acting as sole manager.
Gevo, Inc., a renewable chemicals and biofuels company, focuses on the development and commercialization of alternatives to petroleum-based products based on isobutanol produced from renewable feedstocks.
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