On Tuesday, Shares of Great Basin Scientific Inc (NASDAQ:GBSN), lost -13.18% to $0.112.
Great Basin Scientific, Inc. (GBSN), is a molecular diagnostic testing company. The company declared that it has reached a definitive agreement with the holders of about 69% of its outstanding Series C Warrants to amend the terms of the Series C Warrants.
The amendments to the Series C Warrants provide in material part that once the current Authorized Share Failure (as defined in the Series C Warrants) is cured through either the implementation of a reverse stock split of the Company’s common stock or an improvement in the number of authorized shares of common stock, in each case through the filing of an amended Certificate of Incorporation with the Delaware Secretary of State following shareholder approval, the Series C Warrants will then be exercisable for only 25 more trading days.
Upon the expiration of the 25 trading-day period, any remaining issued and outstanding Series C Warrants will be automatically deemed exercised based on the cashless exercise formula as presently contained in the Series C Warrants.
Upon the expiration of the 25 trading-day period, any remaining issued and outstanding Series C Warrants will be automatically deemed exercised based on the cashless exercise formula as presently contained in the Series C Warrants.
The amendments also clarified the ownership position of the Series C Warrants relative to the Company’s common stock before exercise of the Series C Warrants and clarified that additional standstill periods will be granted for future Authorized Share Failures, should they occur.
The amendments are described in more detail in the Company’s Current Report on Form 8-K to be filed with the United States Securities and Exchange Commission on December 7, 2015.
The stock opened the session at $0.13 and touched its highest price point at $0.13. The company’s stock’s lowest price point for the session stood at $0.11.
Its recently’s volume is 26.23 million shares in comparison to its usual trading volume of 26.41 million shares.
The Company is focused on the development and commercialization of its molecular diagnostic platform designed to test for infectious disease. The Company has a commercially available test, a diagnostic test for clostridium difficile (C. diff), which received clearance from the Food and Drug Administration (FDA).
Shares of Micron Technology, Inc (NASDAQ:MU), declined -1.68% to $14.60, during its last trading session, after analysts forecast lower than predictable financial results for the fiscal 2016 first quarter because of a decline in dynamic random access memory (DRAM) sales, Barron’s reports.
“We believe the November quarter came at the low end of the company’s revenue/EPS guide range, driven by weaker DRAM average selling prices,” Susquehanna Financial analysts said, according to Barron’s.
In October, the memory technology company offered its first quarter earnings guidance of 20 cents to 26 cents per share and revenue outlook of $3.35 billion to $3.6 billion.
Analysts have estimated for earnings of 23 cents per share on $3.48 billion in revenue for the latest quarter, a steep decline from 97 cents per share on revenue of $4.57 billion that the company stated for the same period last year.
DRAM sales prices are predictable to have fallen 10% from the previous quarter because of weaker PC sales.
Susquehanna Financial maintained its “positive” rating on the stock due to growth in Micron Technology’s other products, such solid-slate drives, Barron’s added.
The company will report its fiscal 2016 first quarter financial results after the market close on December 22.
Micron Technology, Inc. is a global provider of semiconductor devices. Through the Company’s global operations, it manufactures and markets a full range of Dynamic Random Access Memory (DRAM), NAND Flash and NOR Flash memory, in addition to other memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, automotive, industrial, embedded and mobile products.
Finally, Shares of The Coca-Cola Co (NYSE:KO), ended its last trade with -0.42% loss, and closed at $43.01.
Coca-Cola (KO) has named Hendrik Steckhan the president of the beverage giant’s U.S. operations and designated Stuart Kronauge and Ivan Pollard as the co-heads of U.S. marketing, the Wall Street Journal reports.
Steckhan will likely succeed North American chief Sandy Douglas, though Douglas is predictable to remain with the company until 2018 or later, the Journal adds.
Kronauge will lead brand marketing for soda, water and tea brands in the U.S., while Pollard will lead planned marketing in the U.S., according to the Journal.
The administration changes come during a $3 billion global cost-cutting push to assist Coca-Cola once again reach mid-single-digit revenue growth in 2016 following a three-year rut, the Journal notes. Americans have been moving away from sugary drinks for health reasons.
Additionally, yesterday Coca-Cola declared that Alex Cummings, chief administrative officer, will retire in March after 18 years with the company.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets more than 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, improved waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks. It owns and markets a range of nonalcoholic sparkling beverage brands, such as Coca-Cola, Diet Coke, Fanta and Sprite.