On Tuesday, Shares of Pfizer Inc. (NYSE:PFE), gained 2.94% to $35.35.
Pfizer stated financial results for second-quarter 2015 and declared enhances to the midpoints of its 2015 financial guidance(3) ranges for stated revenues(1) and stated(1) and adjusted(2) diluted EPS.
The company manages its commercial operations through two distinct businesses: an Innovative Products business and an Established Products business. The Innovative Products business is composed of two operating segments: the Global Innovative Pharmaceutical segment (GIP)(4) and the Global Vaccines, Oncology and Consumer Healthcare segment (VOC)(4). The Established Products business comprises of the Global Established Pharmaceutical segment (GEP)(4). Financial results for each of these segments are presented in the Operating Segment Information section.
Pfizer Inc., a biopharmaceutical company, discovers, develops, manufactures, and sells healthcare products worldwide. The company operates through Global Innovative Pharmaceutical (GIP); Global Vaccines, Oncology and Consumer Healthcare (VOC); and Global Established Pharmaceutical (GEP) segments.
Shares of SandRidge Energy, Inc. (NYSE:SD), inclined 9.48% to $0.58, during its last trading session.
SandRidge Energy declared that it has fallen below the New York Stock Exchange (“NYSE”) continued listing requirement that the average closing price of a listed company’s common stock be above $1.00 per share, calculated over a period of 30 successive trading days. The Company received notice from the NYSE on July 23, 2015 regarding the deficiency.
Under the NYSE standards, the Company can avoid delisting if, during the six-month period following receipt of the NYSE notice, on the last trading-day of any calendar month, the Company’s common stock has a closing price per share and a 30 trading-day average closing share price of at least $1.00. The Company intends to consider accessible alternatives, potentially counting a reverse stock split, in order to cure the stock price deficiency and return to compliance with the NYSE continued listing requirement. Under the NYSE’s rules, if the Company determines that it will cure the stock price deficiency by taking an action that will require approval by its shareholders at the next annual meeting of shareholders, such as a reverse stock split, the six month period described above will extend to shortly after such annual meeting.
During this period, the Company’s common stock will continue to be traded on the NYSE, subject to compliance with other continued listing requirements.
SandRidge Energy, Inc., an oil and natural gas company, explores for and produces oil and natural gas properties primarily in the Mid-Continent region of the United States. The company operates through three segments: Exploration and Production, Drilling and Oil Field Services, and Midstream Services.
Finally, The Bank of New York Mellon Corporation (NYSE:BK), ended its last trade with 0.76% gain, and closed at $43.59.
Pharmaceutical and biotech companies led the pack in terms of capital raising through depositary receipts during the first half of 2015, representing two-thirds of all transactions and about a third of total dollars raised, according to BNY Mellon’s Depositary Receipts 2015 Midyear Update.*
As of June 30, 21 DR offerings globally raised $3.8 billion. Fourteen transactions came from the bio-pharma sector, raising nearly $1.3 billion. Pharmaceutical and biotech firms also accounted for the most new DR programs created this year. Of the 34 new programs established through June, 10 were from the sector.
“Bio-pharma companies, especially those in Western Europe, have been quite active in choosing depositary receipts as a means to raise capital and build awareness with U.S. investors and the analyst community,” said Christopher M. Kearns, CEO of BNY Mellon’s Depositary Receipts business. “DRs have been a conduit connecting many of these smaller, innovative firms with a wider investment community worldwide.”
Over the past three years, BNY Mellon has been the depositary for more than half of all healthcare, pharmaceutical and biotech companies that have raised capital in DR form.
The Bank of New York Mellon Corporation, an investment company, provides financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. It operates through two segments, Investment Administration and Investment Services.
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