On Tuesday, Dyax Corp. (NASDAQ:DYAX)’s shares declined -1.94%, and closed at $28.06, hitting new 52-week high of $28.98, after a biopharmaceutical corporation, declared the pricing of an underwritten public offering of 7,400,000 shares of its ordinary stock, offered at a price to the public of $27.00 per share. The gross proceeds to Dyax from this offering are predictable to be about $200 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Dyax. Dyax has granted the underwriters a 30-day option to purchase up to an aggregate of 1,110,000 additional shares of ordinary stock. The offering is predictable to close on or about April 13, 2015, subject to customary closing conditions.
BofA Merrill Lynch and Cowen and Corporation are acting as lead book-running managers and RBC Capital Markets, LLC is acting as joint book-running manager for the offering. Needham & Corporation and Wedbush PacGrow are acting as co-managers.
Dyax Corp., a biopharmaceutical corporation, identifies, develops, and commercializes treatments for hereditary angioedema (HAE) and other plasma-kallikrein-mediated (PKM) disorders. It offers KALBITOR for the treatment of acute attacks of HAE. The corporation distributes KALBITOR through a network of wholesale, hospital, and specialty pharmacy arrangements.
The ADT Corporation (NYSE:ADT)’s shares dropped -1.94%, and settled at $41.52, during the last trading session on Tuesday, as The ADT Corporation, will host an Analyst and Investor Day meeting on May 14, 2015 startning at 8:00 a.m. ET. The meeting will be held at the W Hotel at 401 N. Fort Lauderdale Beach Blvd. in Fort Lauderdale, and will comprise presentations by President and Chief Executive Officer Naren Gursahaney, Chief Financial Officer Michael Geltzeiler, and other members of the executive leadership team. The presentations, counting a question and answer session, are predictable to conclude no later than 2:00 p.m. ET.
The ADT Corporation provides monitored security, interactive home and business automation, and related monitoring services in the United States and Canada. The corporation’s monitored security and home/business automation offerings comprise the installation and monitoring of residential and business security, and premises automation systems designed to detect intrusion, control access and react to movement, smoke, carbon monoxide, flooding, temperature, and other environmental conditions and hazards, in addition to to address personal emergencies, such as injuries, medical emergencies, or incapacitation.
At the end of Tuesday’s trade, Viacom, Inc. (NASDAQ:VIAB)’s shares dipped -1.92%, and closed at $67.28, after an entertainment content corporation, declared the elements of its planned realignment, counting initiatives designed to promote greater cross-brand collaboration, focus on new growth areas, and improve operational efficiency and financial performance.
Following a corporation-wide review across its worldwide Media Networks, Filmed Entertainment operations and corporate functions, Viacom is implementing noteworthyplanned and operational improvements, counting reorganizing three of its domestic network groups into two new organizations. The new structure realigns sales, marketing, creative and support functions, raises efficiencies in program and product development, enhances opportunities to share expertise, and promotes greater cross-marketing and cross channel programming activity. The Corporation is also reallocating resources to expand its capabilities in critical business areas counting data analysis, technology development and consumer insights, reflecting the rapidly changing media marketplace, shifting consumer behavior and evolving measurement practices.
In connection with the realignment, Viacom will recognize a pre-tax charge in the second fiscal quarter of 2015 of about $785 million. The charge reflects the influence of write-downs of underperforming programming, counting the abandonment of select attained titles, in addition to costs associated with workforce reductions. The charge also reflects accelerated amortization of programming expenses associated with a change in the Corporation’s ultimate proceed projections for certain original programming genres that have been influenced by changing media consumption habits.
The initiatives are predictable to provide ongoing annual savings of about $350 million. The savings in fiscal 2015 are predictable to be about $175 million.
Viacom Inc. operates as an entertainment content corporation in the United States and internationally. The corporation creates television programs, motion pictures, short-form video, applications, games, consumer products, social media, and other entertainment content. It operates in two segments, Media Networks and Filmed Entertainment.
Royal Caribbean Cruises Ltd. (NYSE:RCL), ended its Tuesday’s trading session with -1.92% loss, and closed at $80.72, as a cruise corporation, on April 1, declared that Bernard Aronson, a director of Royal Caribbean Cruises Ltd. since 1993, has decided not to stand for re-election at the corporation’s forthcoming Annual Shareholders Meeting in May, citing the time commitments required of his new responsibilities. In February 2015, Aronson was named by President Obama as U.S. Special Envoy to the Colombian Peace Process.
Aronson is Royal Caribbean’s longest-serving outside director, and is a member of the Compensation Committee. He also serves as the Founding Partner of ACON Investments, LLC. From 1989 to 1993, Aronson served as Assistant Secretary of State for Inter-American Affairs.
Royal Caribbean Cruises, Ltd. operates as a cruise corporation. The corporation operates cruisers under the Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDF Croisières de France, and TUI Cruises brand names.
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