On Thursday, Shares of Hertz Global Holdings Inc (NYSE:HTZ), lost -0.42% to $17.83.
The Hertz Corporation declared that Carlo Cavecchi has joined Hertz Equipment Rental Corporation (HERC) as Vice President, Specialty Rental Group, reporting to Bruce Dressel, Chief Operating Officer.
In this new role, Mr. Cavecchi will lead HERC’s current specialty business segments, counting Pump, Energy Services, HVAC and Industrial Small Tools. He will also be responsible for leading the company’s growth into additional solutions-based, customer-focused specialty areas.
“Specialty services will continue to play an important role in enabling us to drive higher dollar utilization and enter into new markets,” added Bruce Dressel. “Given his customer-focused track record of growing specialty businesses, Carlo was the perfect choice to assist HERC grow its top-line revenue through specialty-market opportunities.”
Since 2007 Mr. Cavecchi has served as the Chief Executive Officer of Ally Onsite, a specialized equipment and on-site services provider to the emergency restoration and oil field industries. Startning his career at HSS Hire Group, a market-leading, U.K.-based equipment rental company, he quickly progressed becoming Vice President of Operations in 1995. In 1998, Mr. Cavecchi relocated to the United States as Chief Executive Officer of HSS Rental Stores to lead their U.S. expansion efforts. Within five years, a pilot location in Florida had grown to more than 70 locations operating in 14 states. After HSS, Mr. Cavecchi joined The Home Depot, where he assisted develop expertise in their small tool and light equipment rental business.
Hertz Global Holdings, Inc., through its auxiliaries, rents and leases cars and trucks in the United States and internationally. It operates in four segments: U.S. Car Rental, International Car Rental, Worldwide Equipment Rental, and All Other Operations.
Shares of Sangamo Biosciences, Inc. (NASDAQ:SGMO), inclined 7.12% to $8.27, during its last trading session.
Sangamo BioSciences, stated its second quarter 2015 financial results and accomplishments.
For the second quarter ended June 30, 2015, Sangamo stated a merged net loss of $12.1 million, or $0.17 per share, contrast to a net loss of $7.0 million, or $0.10 per share, for the same period in 2014. As of June 30, 2015, the Company had cash, cash equivalents, marketable securities and interest receivable of $218.6 million.
Revenues for the second quarter of 2015 were $8.4 million, contrast to $10.4 million for the same period in 2014. Second quarter 2015 revenues were generated from the Company’s partnership agreements with Shire International GmbH (Shire), Biogen Inc. (Biogen), enabling technology agreements and research grants. The revenues recognized for the second quarter of 2015 comprised of $7.8 million in partnership agreements and $0.6 million in research grants, contrast to $9.7 million and $0.7 million, respectively, for the same period in 2014.
The decrease in partnership agreement revenues was primarily due to a decrease in revenues under the Company’s partnership and license agreement with Shire, partially offset by an enhance in revenues from the partnership and licensing agreement with Biogen. In the second quarter of 2015, Sangamo recognized $3.9 million of revenues related to research services performed under the partnership agreement with Shire, and $1.7 million of revenues related to research services performed under the partnership agreement with Biogen. In addition, following the agreements reached with Shire in January 2012 and Biogen in January 2014, Sangamo received upfront payments of $13.0 million and $20.0 million, respectively. These payments are being recognized on a straight-line basis over the initial six-year research term for Shire and about 40 months for Biogen. The Company recognized $0.5 million of the Shire upfront payment and $1.5 million of the Biogen upfront payment as revenue for the second quarter of 2015.
Research and development expenses were $15.6 million for the second quarter of 2015, contrast to $13.5 million for the same period in 2014. The enhance in research and development expenses was primarily due to the expansion of the technical operations group in order to manage third-party manufacturing relationships, improve internal process development and enhance the Company’s overall manufacturing capabilities. This expansion resulted in raised personnel expenses, counting stock-based compensation, due to raised headcount in addition to higher facilities and lab supply expenses to support operations.
General and administrative expenses were $5.0 million for the second quarter of 2015, contrast to $4.0 million for the same period in 2014. The enhance was primarily due to enhances in professional services expenses and personnel-related expenses, counting stock-based compensation.
Sangamo BioSciences, Inc., a clinical stage biopharmaceutical company, focused on the research, development, and commercialization of engineered DNA-binding proteins as novel therapeutic products for various monogenic and infectious diseases with unmet medical needs. Its proprietary zinc finger DNA-binding protein (ZFP) technology enables precise and highly specific genome modification and gene regulation.
Finally, Royal Dutch Shell plc (ADR) (NYSE:RDS.B), ended its last trade with -2.65% loss, and closed at $57.17.
Royal Dutch Shell plc, received notice on August 13, 2015 from Euleen Goh, a Non-executive Director of the Company, that on that day she purchased 5,000 Royal Dutch Shell plc B shares at a price of £18.90 per share.
The transaction took place on the London Stock Exchange.
Royal Dutch Shell plc operates as an independent oil and gas company worldwide. It operates through Upstream and Downstream segments. The company explores for and extracts crude oil, natural gas, and natural gas liquids.
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